China Real Estate: Investment & Housing
A comprehensive monthly overview of China's real estate market: development investment and residential property sales (with time series starting in 1991), floor space under construction, new construction starts, completions, and unsold inventory, alongside developer funding broken down into five components.
| Indicator | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | 07-2023 | 06-2023 | 05-2023 | 04-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Development investment, year-to-date3 | 4,300.9 | 3,807.4 | 3,035.6 | 2,396.94 | 1,772 | 961.2 | 8,278.8 | 7,859.1 | 7,356.3 | 6,770.6 | 6,030.9 | 5,358 | 4,665.76 | 3,623.38 | 2,772.96 | 1,990.42 | 1,071.97 | 10,028.02 | 9,363.41 | 8,630.89 | 7,868.03 | 6,928.36 | 6,087.74 | 5,252.88 | 4,063.24 | 3,092.78 | 2,208.24 | 1,184.17 | 11,091.29 | 10,404.54 | 9,592.18 | 8,726.92 | 7,690 | 6,771.71 | 5,854.99 | 4,570.13 | 3,551.42 | |
| Residential buildings | 3,317.2 | 2,930 | 2,342.6 | 1,353.1 | 728.2 | 6,351.4 | 6,043.2 | 5,659.5 | 5,204.6 | 4,638.2 | 4,120.8 | 3,577 | 2,773.1 | 2,117.9 | 1,513.3 | 805.6 | 7,604 | 7,119 | 6,564.4 | 5,970.1 | 5,262.7 | 4,623 | 3,988.3 | 3,082.4 | 2,339.2 | 1,658.5 | 882.3 | 8,382 | 7,885.2 | 7,279.9 | 6,627.9 | 5,842.5 | 5,148.5 | 4,443.9 | 3,480.9 | 2,707.2 | ||
| Office buildings | 158 | 141.1 | 113 | 70.2 | 40.7 | 320.3 | 297.9 | 277.5 | 256.4 | 230.1 | 204.3 | 179.2 | 141.2 | 110.8 | 81.9 | 49.2 | 416 | 380.3 | 348.7 | 317.8 | 280.7 | 249.3 | 216 | 169.3 | 133.6 | 99 | 57.9 | 453.1 | 414.5 | 379.4 | 343.7 | 303.6 | 268.9 | 233.2 | 182.5 | 139.2 | ||
| Commercial buildings | 280.9 | 249.5 | 199.3 | 119.1 | 64 | 594.7 | 560.3 | 521.1 | 480.6 | 426.4 | 379 | 329.4 | 257.3 | 198.2 | 143.8 | 78.2 | 694.4 | 643 | 589.5 | 538.9 | 473.1 | 417.5 | 361.1 | 280 | 217.2 | 159.7 | 89.4 | 805.5 | 749.3 | 689.2 | 626.9 | 549 | 483.7 | 420.5 | 326.1 | 258.7 | ||
| Commercial residential property sales for the month | 477.36 | 857.89 | 636.55 | 573.82 | 907.62 | 880.71 | 611.26 | 597.66 | 802.52 | 544.98 | 532.43 | 1,015.04 | 705.62 | 623.65 | 1,053.87 | 1,162.56 | 826.99 | 797.48 | 915.66 | 639.31 | 619.71 | 1,146.82 | 759.85 | 671.16 | 1,078.86 | 1,130.44 | 815.69 | 809.06 | 1,091.24 | 770.77 | 735.84 | 1,330.52 | 1,003.62 | 920.53 | ||||
| Floor area under construction, cumulative3 | 5,575.72 | 5,540.49 | 5,487.75 | 5,417.37 | 5,353.72 | 6,598.9 | 6,560.66 | 6,529.39 | 6,485.8 | 6,431.09 | 6,387.31 | 6,333.21 | 6,250.2 | 6,203.15 | 6,137.05 | 6,059.72 | 7,332.47 | 7,260.14 | 7,206.6 | 7,159.68 | 7,094.2 | 7,032.86 | 6,968.18 | 6,888.96 | 6,875.44 | 6,785.01 | 6,669.02 | 8,383.64 | 8,313.45 | 8,228.95 | 8,156.88 | 8,064.15 | 7,996.82 | 7,915.48 | 7,795.06 | 7,712.71 | ||
| Residential buildings | 3,870.51 | 3,844.53 | 3,808.3 | 3,754.65 | 3,713.47 | 4,601.23 | 4,575.51 | 4,552.53 | 4,521.65 | 4,484.6 | 4,451.07 | 4,412.4 | 4,353.54 | 4,319.37 | 4,272.37 | 4,213.51 | 5,133.3 | 5,083.89 | 5,044.93 | 5,010.51 | 4,960.52 | 4,915.32 | 4,874.37 | 4,815.57 | 4,806.47 | 4,745.8 | 4,666.36 | 5,898.84 | 5,853.09 | 5,793.61 | 5,742.5 | 5,677.92 | 5,630.26 | 5,570.83 | 5,484.75 | 5,429.68 | ||
| Office buildings | 242.34 | 242.34 | 241.1 | 240.88 | 239.71 | 279.79 | 277.53 | 276.72 | 275.69 | 274.65 | 273.5 | 271.22 | 269.41 | 268.64 | 265.7 | 264.44 | 298.58 | 295.21 | 293.71 | 293.17 | 290.84 | 289.77 | 285.95 | 284.7 | 284.73 | 281.14 | 275.74 | 331.32 | 326.65 | 324.59 | 322.6 | 319.62 | 317.54 | 315.21 | 313.06 | 309.51 | ||
| Commercial buildings | 485.45 | 482.54 | 478.65 | 475.77 | 470.06 | 569.75 | 567.63 | 566.11 | 563.62 | 558.47 | 556.79 | 553.37 | 546.94 | 544.2 | 539.82 | 535.78 | 631.95 | 625.53 | 622.1 | 619.08 | 617.34 | 612.84 | 606.9 | 601.42 | 602.27 | 592.47 | 586.18 | 721.81 | 719.7 | 713.91 | 708.25 | 702.58 | 696.84 | 691.9 | 683.21 | 677.1 | ||
| Floor area of new starts, cumulative3 | 267 | 232.39 | 179.29 | 103.73 | 50.84 | 587.7 | 534.57 | 490.61 | 453.99 | 398.01 | 352.06 | 303.64 | 231.84 | 178.36 | 129.96 | 66.14 | 738.93 | 673.08 | 612.27 | 560.51 | 494.65 | 437.33 | 380.23 | 300.9 | 235.1 | 172.83 | 94.29 | 953.76 | 874.56 | 791.77 | 721.23 | 638.91 | 569.69 | 498.8 | 397.23 | 312.2 | ||
| Residential buildings | 194.9 | 169 | 130.84 | 74.2 | 36.95 | 429.84 | 391.89 | 359.52 | 332.73 | 293.04 | 258.81 | 222.88 | 170.89 | 131.64 | 94.92 | 48.21 | 536.6 | 489.89 | 445.69 | 407.45 | 359.09 | 316.84 | 277.48 | 217.6 | 170.06 | 125.34 | 67.96 | 692.86 | 637.37 | 576.59 | 525.12 | 466.36 | 415.46 | 363.4 | 290.1 | 229 | ||
| Office buildings | 5.38 | 4.89 | 4 | 2.83 | 1.68 | 14.71 | 12.72 | 12.09 | 11.22 | 9.91 | 8.98 | 7.53 | 6.15 | 4.83 | 3.48 | 2.17 | 18.93 | 17.24 | 15.77 | 14.54 | 12.79 | 11.79 | 9.64 | 8.22 | 7.08 | 5.46 | 3.27 | 25.89 | 23.2 | 21.43 | 19.38 | 16.62 | 15.15 | 13.53 | 10.94 | 8.26 | ||
| Commercial buildings | 17.3 | 14.93 | 10.64 | 6.42 | 2.92 | 38.05 | 34.87 | 31.84 | 29.5 | 25.83 | 22.84 | 19.56 | 14.34 | 11.18 | 8.93 | 4.12 | 49.8 | 45.17 | 40.58 | 37.16 | 32.88 | 28.83 | 23.81 | 19.19 | 14.42 | 10.43 | 6.02 | 64.59 | 58.93 | 53.69 | 49.1 | 43.58 | 38.49 | 33.74 | 26.31 | 21.09 | ||
| Floor area completed, cumulative3 | 191.95 | 172.21 | 140.87 | 97.89 | 63.2 | 603.48 | 394.54 | 348.61 | 311.29 | 276.94 | 250.34 | 225.67 | 183.85 | 156.48 | 130.6 | 87.64 | 737.43 | 481.52 | 419.95 | 368.16 | 333.94 | 300.17 | 265.19 | 222.45 | 188.6 | 152.59 | 103.95 | 998.31 | 652.37 | 551.51 | 487.05 | 437.26 | 384.05 | 339.04 | 278.26 | 236.78 | ||
| Residential buildings | 134.43 | 121.48 | 99.99 | 69.83 | 46.25 | 428.3 | 281.05 | 248.66 | 222.28 | 198.76 | 180.67 | 162.66 | 133.37 | 114.24 | 95.02 | 63.28 | 537.41 | 351.97 | 307.02 | 268.71 | 243.93 | 218.67 | 192.59 | 161.99 | 137.46 | 111.48 | 76.94 | 724.33 | 475.81 | 400.79 | 353.19 | 317.75 | 279.54 | 246.04 | 201.94 | 173.96 | ||
| Office buildings | 6.37 | 5.91 | 4.46 | 2.85 | 1.33 | 20.71 | 13.42 | 12.08 | 11 | 9.33 | 7.9 | 7.34 | 5.58 | 4.71 | 3.97 | 2.8 | 19.4 | 12 | 10.3 | 9.45 | 8.54 | 7.99 | 7.33 | 5.98 | 5.21 | 4.48 | 2.75 | 28.9 | 18.05 | 15.76 | 14.61 | 12.89 | 11.64 | 10.19 | 8.83 | 6.47 | ||
| Commercial buildings | 12.89 | 11.5 | 9.52 | 6.51 | 3.99 | 42.59 | 27.86 | 24.54 | 22.32 | 20.01 | 17.73 | 15.9 | 13.32 | 11.2 | 9.43 | 6.38 | 48.94 | 32.72 | 29.24 | 26.18 | 24.08 | 22.46 | 20.07 | 16.53 | 13.75 | 11.03 | 7.41 | 70.23 | 45.39 | 38.83 | 34.69 | 31.87 | 28.06 | 24.75 | 20.8 | 17.86 | ||
| Floor area of new property sold, cumulative3 | 450.21 | 401.4 | 313.2 | 195.25 | 92.93 | 881.01 | 787.02 | 719.82 | 658.35 | 573.04 | 515.6 | 458.51 | 353.15 | 282.62 | 218.69 | 107.46 | 973.85 | 861.18 | 779.3 | 702.84 | 606.02 | 541.49 | 479.16 | 366.42 | 292.52 | 226.68 | 113.69 | |||||||||||
| Residential buildings | 374.25 | 333.18 | 260.27 | 160.08 | 77.36 | 732.99 | 658.18 | 602.72 | 550.63 | 480.86 | 432.18 | 383.58 | 297.45 | 238.53 | 184.81 | 92.07 | 814.5 | 722.24 | 653.68 | 587.88 | 508.12 | 454.01 | 401.14 | 307.44 | 245.07 | 189.42 | 95.59 | |||||||||||
| Office buildings | 12.09 | 11.1 | 8.56 | 6.15 | 2.37 | 22.39 | 18.95 | 17.44 | 16.42 | 14 | 12.78 | 11.6 | 8.1 | 6.64 | 5.16 | 1.89 | 24.03 | 20.81 | 18.91 | 17.57 | 14.9 | 13.27 | 12.02 | 8.79 | 7.15 | 5.81 | 2.68 | |||||||||||
| Commercial buildings | 25.42 | 22.73 | 17.56 | 11.71 | 5.42 | 53.53 | 46.7 | 42.25 | 38.69 | 33.19 | 30 | 26.97 | 20.5 | 16.44 | 12.62 | 5.85 | 59.86 | 52.04 | 46.73 | 42.86 | 36.01 | 32.2 | 28.53 | 21.92 | 17.67 | 13.78 | 6.97 | |||||||||||
| New property sales, cumulative3 | 4,271.8 | 3,794.5 | 2,936.6 | 1,726.2 | 818.6 | 8,393.7 | 7,513 | 6,901.7 | 6,304 | 5,501.5 | 4,956.6 | 4,424.1 | 3,409.1 | 2,703.5 | 2,079.8 | 1,025.9 | 9,675 | 8,512.5 | 7,685.5 | 6,888 | 5,972.3 | 5,333 | 4,713.3 | 3,566.5 | 2,806.7 | 2,135.5 | 1,056.6 | |||||||||||
| Residential buildings | 3,754.3 | 3,327 | 2,578.3 | 1,492.1 | 716.3 | 7,333.5 | 6,600.8 | 6,068.7 | 5,532.9 | 4,844.7 | 4,359.3 | 3,884.9 | 3,011.9 | 2,386.6 | 1,836.2 | 916 | 8,486.4 | 7,487.1 | 6,748.6 | 6,024 | 5,242.5 | 4,678.7 | 4,127 | 3,116.3 | 2,445.3 | 1,852.3 | 922.7 | |||||||||||
| Office buildings | 149.4 | 138.8 | 103.4 | 67.7 | 25.7 | 290 | 240.4 | 223.4 | 211.1 | 177.6 | 163.7 | 149.7 | 103.3 | 83.9 | 66.1 | 24.7 | 320.8 | 268.8 | 246.9 | 230.4 | 193.4 | 172.2 | 156.7 | 116 | 95.8 | 75.9 | 33.2 | |||||||||||
| Commercial buildings | 222.4 | 198.7 | 154.9 | 102.2 | 46.6 | 499.1 | 434.8 | 394.8 | 362.7 | 309.4 | 280.4 | 252.4 | 190.3 | 152.1 | 116 | 55.1 | 572.8 | 499.6 | 454.3 | 420 | 352.8 | 318.1 | 283.3 | 222 | 176.2 | 138.6 | 68.9 | |||||||||||
| Floor area of commercial property for sale3 | 759.11 | 763.15 | 771.82 | 786.01 | 799.98 | 766.32 | 753.06 | 756.06 | 759.28 | 761.69 | 764.86 | 769.48 | 774.27 | 781.42 | 786.64 | 798.91 | 753.27 | 732.86 | 730.57 | 731.77 | 737.83 | 739.26 | 738.94 | 742.56 | 745.53 | 748.33 | 759.69 | 672.95 | 653.85 | 648.35 | 645.37 | 647.95 | 645.64 | 641.59 | 641.2 | 644.87 | ||
| Residential buildings | 405.56 | 408.65 | 416.2 | 427.71 | 437.52 | 402.36 | 393.61 | 396.45 | 399.37 | 402.29 | 405.36 | 408.21 | 412.64 | 417.03 | 421.58 | 431.74 | 390.88 | 376.52 | 375.23 | 376.79 | 381.03 | 382.38 | 382.87 | 387.12 | 390.88 | 394.58 | 405 | 331.19 | 318.13 | 313.62 | 311.86 | 313.66 | 312.39 | 310.06 | 310.48 | 314.29 | ||
| Office buildings | 52 | 52.09 | 51.93 | 52.55 | 53.21 | 53.3 | 52.34 | 51.95 | 52.09 | 51.35 | 51.18 | 51.53 | 51.39 | 51.72 | 52.33 | 52.41 | 53.13 | 51.97 | 51.8 | 51.75 | 52.15 | 52.42 | 52.11 | 52.14 | 52.17 | 52.04 | 51.13 | 48.54 | 47.64 | 47.51 | 47.3 | 47.36 | 47.6 | 47.56 | 47.68 | 47.21 | ||
| Commercial buildings | 135.35 | 135.44 | 135.83 | 136.64 | 137.6 | 142.47 | 141.05 | 141.5 | 142.24 | 142.11 | 142.56 | 143.4 | 143.71 | 145.1 | 145.08 | 145.24 | 144.37 | 142.69 | 142.32 | 142.34 | 142.7 | 143.11 | 142.73 | 143.08 | 142.19 | 142.46 | 144.37 | 142.31 | 140.69 | 140.2 | 140.27 | 140.66 | 140.73 | 139.92 | 140.29 | 141.03 | ||
| Funds raised, cumulative5 | 4,574.8 | 4,023.3 | 3,275.6 | 2,052.4 | 1,304.7 | 9,311.7 | 8,514.5 | 7,885.3 | 7,229.9 | 6,431.8 | 5,728.7 | 3,259.6 | 2,472.9 | 1,557.7 | 10,766.1 | 9,657.5 | 8,723.5 | 7,889.8 | 6,993.2 | 6,190.1 | 5,353.8 | 4,257.1 | 3,403.6 | 2,568.9 | 1,619.3 | 12,745.9 | 11,704.4 | 10,734.5 | 9,806.7 | 8,711.6 | 7,821.7 | 5,595.8 | 4,515.5 | |||||
| Domestic loans | 630 | 571.6 | 487.5 | 341.9 | 257 | 1,409.4 | 1,314.9 | 1,216 | 1,129.4 | 1,023.2 | 920.7 | 561.9 | 444.1 | 295.4 | 1,521.7 | 1,347.6 | 1,240 | 1,146.6 | 1,022.9 | 921.6 | 820.7 | 681 | 558.3 | 455.4 | 314.4 | 1,559.5 | 1,422.7 | 1,311.7 | 1,210 | 1,067.1 | 973.2 | 717.5 | 614.4 | |||||
| Foreign capital | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 2.5 | 2.3 | 1.9 | 1.8 | 1.8 | 1.7 | 1.6 | 0.1 | 0.1 | 3.2 | 3 | 3 | 2.9 | 2 | 1.7 | 1.3 | 1.1 | 0.9 | 0.7 | 0.5 | 4.7 | 4.2 | 3.7 | 3.6 | 3.5 | 3 | 1.3 | 1.2 | |||||
| Self-raised funds | 1,654.4 | 1,474 | 1,198.5 | 776.2 | 493.9 | 3,314.9 | 3,062.8 | 2,841.9 | 2,611.1 | 2,297.4 | 2,023 | 1,095.3 | 816.8 | 523.3 | 3,774.6 | 3,467.6 | 3,148.3 | 2,868 | 2,515 | 2,205.7 | 1,886.2 | 1,481.6 | 1,173.6 | 868.1 | 537.4 | 4,198.9 | 3,850.5 | 3,478.1 | 3,125.2 | 2,719.5 | 2,391.6 | 1,626.7 | 1,296.5 | |||||
| Deposits and advance payments | 1,437.6 | 1,244.2 | 1,001.2 | 585.8 | 358.9 | 2,808.9 | 2,509.8 | 2,325.7 | 2,113.8 | 1,884.4 | 1,681.5 | 968.3 | 733.5 | 457.7 | 3,357.1 | 2,962.4 | 2,644.4 | 2,359.3 | 2,107.8 | 1,869.3 | 1,599.9 | 1,258.4 | 1,000.2 | 743.5 | 463 | 4,320.2 | 3,958.3 | 3,659.6 | 3,363.1 | 3,018.5 | 2,737.7 | 1,987.8 | 1,592.5 | |||||
| Personal mortgage loans | 604 | 513.7 | 406.6 | 220.4 | 112.8 | 1,285.2 | 1,178.6 | 1,083.4 | 988.4 | 885.7 | 791.8 | 451.8 | 337.3 | 194.5 | 1,566.1 | 1,391.1 | 1,243.6 | 1,107.9 | 992 | 874.8 | 774.9 | 619.1 | 495.3 | 364.3 | 221.4 | 2,148.9 | 1,998.2 | 1,850.6 | 1,702.8 | 1,545.3 | 1,395 | 1,035.4 | 822.2 |
Latest reading
Development investment, year-to-date stood at 4,300.9 CNY billion in Jul 2026. That is +13.0% from Jun 2026 and −19.7% from a year earlier. The series on this page is monthly and runs from Feb 1991 to Jul 2026. Source: National Statistics Office (NSO) of China.
- Latest
- 4,300.9 CNY billion
- Jul 2026
- vs previous period
- +13.0%
- Jun 2026
- vs a year earlier
- −19.7%
About this data
A comprehensive monthly overview of China's real estate market: development investment and residential property sales (with time series starting in 1991), floor space under construction, new construction starts, completions, and unsold inventory, alongside developer funding broken down into five components. Each floor space and sales indicator is further disaggregated by three building types: residential (accounting for approximately 80% and thus driving the overall trend), office buildings, and commercial premises. New construction starts serve as a leading indicator of the property cycle, while the funding structure reveals whether developers are relying on bank loans, self-raised capital, or advance payments from homebuyers. Except for monthly commercial residential property sales, all figures represent cumulative totals from the beginning of the year. The National Statistics Office of China combines January and February data to avoid distortion from the Lunar New Year, meaning the monthly time series has no data point for January, with the combined figure reported in February.
