In 2022, total real estate investments in China amounted to RMB 13.2895 trillion ($1.98 trillion), down 10.0 percent year on year, as announced by China's National Bureau of Statistics (NBS).
In the given period, new commercial real estate sold in China covered a total area of 1358.37 million m2, down 24.3 percent year on year.
The total area covered by construction activity in China in the given period declined by 7.2 percent year on year. Nevertheless, the new area covered by construction activity decreased by 39.4 percent year on year in the given period.
The real estate development prosperity index stood at 94.35 in December last year, down from 94.42 recorded in November, indicating an overall downtrend since October’s level of 100.57, reflecting the ongoing weak performance of the real estate market.
China has issued policies to boost the real estate industry, which will exert a positive impact on the market in 2023.