China NBS data: Jan–Sep housing construction area 5,652.2 mln sqm, down 12.8%
YoY; residential construction 3,925.6 mln sqm, down 13.2%. New starts 340.31 mln
sqm, down 24.9%; residential starts 247.74 mln sqm, down 25.4%. Completions
232.71 mln sqm, down 25.1%; residential completions 163.01 mln sqm, down 26.6%.
Jan–Sep new home sales area 564.83 mln sqm, down 13.2%; residential sales area
down 13.8%. New home sales value CNY5.38 tln, down 13.9%; residential sales
value down 13.7%. Ministry of Housing and Urban‑Rural Development data: Jan–Sep
second‑hand transaction signed area 617.46 mln sqm, up 10.7% YoY. End‑September
new home inventory 748.25 mln sqm, down 1.5%; of that, inventory under three
years 541.97 mln sqm, down 5.0%.
