From January to November, China's real estate development investment totaled RMB7.8591 trillion, marking a 15.9% year-on-year decline (on a comparable basis). Residential investment accounted for RMB6.0432 trillion, down 15.0%.

During the same period, the construction area of properties under development by real estate enterprises reached 6.56066 billion square meters, a 9.6% decrease YoY. Residential construction area stood at 4.57551 billion square meters, down 10.0%. New construction starts totaled 534.57 million square meters, dropping 20.5%, with residential new starts at 391.89 million square meters, down 19.9%. Completed property area was 394.54 million square meters, falling 18.0%, while residential completions declined 20.1% to 281.05 million square meters.

In the new commercial housing market, sales area from January to November fell 7.8% YoY to 787.02 million square meters, with residential sales down 8.1%. Sales revenue dropped 11.1% to RMB7.513 trillion, with residential sales revenue declining 11.2%. By the end of November, unsold commercial housing inventory stood at 753.06 million square meters, a decrease of 3.01 million square meters from October, including a 2.84 million square meter reduction in residential inventory.

Real estate developers raised RMB8.5145 trillion in funding during the period, down 11.9% YoY. Domestic loans amounted to RMB1.3149 trillion (down 2.5%), foreign investment was RMB2.3 billion (down 24.6%), self-raised funds totaled RMB3.0628 trillion (down 11.9%), deposits and advance payments reached RMB2.5098 trillion (down 15.2%), and individual mortgage loans fell 15.1% to RMB1.1786 trillion.

The national real estate climate index (国房景气指数) stood at 91.90 in November.