From January to October 2025, the cumulative expanse of newly started real estate construction in China amounted to around *** million square meters. This was again a significant decline from the same period in the previous year. The annual total of newly started real estate construction in China reached *** million square meters in 2024.

In 2024, the total floor space of newly started residential housing construction in China dropped below *********** square meters. This marked the fifth consecutive year of decline since the figure peaked in 2019. Two decades of prosperity in China’s real estate sector China's housing market enjoyed more than two decades of prosperity since the country liberalized its real estate sector in the late 1990s. In tandem with China's urbanization and economic success, demand for better housing grew consistently, leading to significant price rises for real estate across all regions. As a result, the real estate and construction sectors have both become pillar industries of the country. Through the sale of land use permits to real estate enterprises, local governments also generated substantial non-tax income, allowing them to fund vital infrastructure development projects and investments. Is the real estate market in China unsustainable? In the last two decades, almost all major real estate companies in China achieved their market dominance by selling off-plan properties and reinvesting their revenues in further development projects. This model has gradually become unsustainable as the real estate industry slowed its pace of growth, leading to financial turmoil for companies, including giants such as Evergrande and Country Garden. Complicating matters, the large number of unfinished projects that have already been sold has pushed many homebuyers into bankruptcy.

China Real Estate Inv: Year to Date: Construction and Installation data was reported at 1,159,643.520 RMB mn in Mar 2025. This records an increase from the previous number of 642,867.820 RMB mn for Feb 2025. China Real Estate Inv: Year to Date: Construction and Installation data is updated monthly, averaging 1,528,698.440 RMB mn from Jan 2002 (Median) to Mar 2025, with 279 observations. The data reached an all-time high of 9,424,636.430 RMB mn in Dec 2021 and a record low of 27,436.000 RMB mn in Feb 2002. China Real Estate Inv: Year to Date: Construction and Installation data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.RKA: Real Estate Investment: Monthly: Summary.

In 2024, the expanse of newly started real estate construction in China amounted to less than *********** square meters. This was again a significant decline of more than ** percent from the previous year, despite the initial expectation of recovery after the end of COVID-19 control measures. The construction boom The housing market reforms initiated in 1998 unleashed a two-decade-long golden era for China's real estate and construction sectors. With the dramatic rise in home prices and nationwide urban renewal projects, a significant number of residential properties, mainly consisting of high-rise complexes, were erected across China for sale to its growing middle-class population. By 2013, the annual expanse of newly started construction projects exceeded *****illion square meters. Despite a decline in the years that followed, with the government's stimulus policies, constructions reached an all-time high of ********************* square meters by 2019, before the start of the COVID-19 pandemic. Increased risks in the real estate sector The continuous expansion of the real estate industry has resulted in a substantial oversupply in the market. This is particularly noticeable in smaller cities and towns in the provinces. Many property developers, including giants such as Evergrande and Country Garden, found themselves in financial hardship owing to the large number of unsaleable or vacant homes they had built. This has resulted in more than *********** unfinished homes across China, exposing homebuyers and their banks to significant financial risks. Moreover, due to the slowdown of China's economy, the outstanding mortgages accumulated over the last two decades will also become a long-term concern for the country's financial institutions and industries.

China Real Estate Investment: YoY: Year to Date: Construction and Installation: Installation data was reported at -15.700 % in Mar 2025. This records an increase from the previous number of -17.800 % for Feb 2025. China Real Estate Investment: YoY: Year to Date: Construction and Installation: Installation data is updated monthly, averaging 22.700 % from Feb 2002 (Median) to Mar 2025, with 278 observations. The data reached an all-time high of 53.600 % in Nov 2012 and a record low of -37.700 % in Feb 2020. China Real Estate Investment: YoY: Year to Date: Construction and Installation: Installation data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RKA: Real Estate Investment: Monthly: Summary.

In 2023, the new construction area of residential real estate in China amounted to ****** million square meters. The real estate sector was a cornerstone of the Chinese economy and a large contributor to the country's GDP.

Forecast: Floor Space of Buildings under Construction of Enterprises for Real Estate Development in China 2023 - 2027 Discover more data with ReportLinker!

Housing Starts in China increased to 49061.39 Tens of Thousands Square Metre in October from 45399.32 Tens of Thousands Square Metre in September of 2025. This dataset includes a chart with historical data for China Housing Starts.

China Input-Output: Intermediate Use: Intermediate Input: Construction Industry: Real Estate, Leasing and Commercial Service data was reported at 213.244 RMB bn in 2015. This records an increase from the previous number of 94.807 RMB bn for 2012. China Input-Output: Intermediate Use: Intermediate Input: Construction Industry: Real Estate, Leasing and Commercial Service data is updated yearly, averaging 85.871 RMB bn from Dec 2002 (Median) to 2015, with 6 observations. The data reached an all-time high of 213.244 RMB bn in 2015 and a record low of 25.438 RMB bn in 2007. China Input-Output: Intermediate Use: Intermediate Input: Construction Industry: Real Estate, Leasing and Commercial Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AG: Input-Output Table: Intermediate Use: Input/Output: Construction Industry.

In 2023, around **** million square meters of office space had been constructed in China. This marked a decline that has persisted since the coronavirus pandemic began.

China Real Estate Investment: Other Building data was reported at 1,489,784.290 RMB mn in 2018. This records an increase from the previous number of 1,224,939.440 RMB mn for 2017. China Real Estate Investment: Other Building data is updated yearly, averaging 346,272.860 RMB mn from Dec 1996 (Median) to 2018, with 23 observations. The data reached an all-time high of 1,489,784.290 RMB mn in 2018 and a record low of 54,219.960 RMB mn in 1996. China Real Estate Investment: Other Building data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RKA: Real Estate Investment: Summary.

Over the five years through 2023, revenue for the Building Construction industry is expected to have been growing at an average annualized 4.4%, to $3.0 trillion. This includes an anticipated increase of 4.7% in 2023. There are approximately 36,700 construction firms in this industry. Most major players also have operations in civil engineering, real estate development, professional engineering services, plan designing, building materials manufacturing and construction equipment manufacturing. By operating across different sectors, firms can minimize their costs and maintain stable supply sources.Larger general contractors are relatively stable and less vulnerable to external influences due to their broad business scope and established relationships with real estate developers, local government and material supply sources.In 2023, the average profit level for the industry is estimated at 4.6% of industry revenue, although some large firms can earn a profit of 8.0% or more. The industry is generally profitable as the government controls many construction enterprises – particularly large-scale organizations – and provides them with preferable policies.The industry is highly influenced by China's real estate industry. Rapidly increasing housing prices in major cities have resulted in the State Council and first-tier cities issuing a series of measures to curb speculative housing demand and prevent excessive price growth. These policies caused declines in sales volume and average prices of commercial residential buildings and have discouraged real estate investment and new house starts. However, an rise in the number of government-mandated indemnificatory houses is lifting demand for building construction services and offsetting the slowed growth in the commercial residential buildings market. As a result, ACMR-IBISWorld projects that in the five years through 2028, industry revenue is forecast to continue growing at an average annualized 3.8%, to reach $3.6 trillion.

Beijing: Real Estate Investment: Year to Date: Construction data was reported at 112,785.130 RMB mn in Dec 2017. This records an increase from the previous number of 99,264.580 RMB mn for Nov 2017. Beijing: Real Estate Investment: Year to Date: Construction data is updated monthly, averaging 53,487.000 RMB mn from Jan 2007 (Median) to Dec 2017, with 127 observations. The data reached an all-time high of 156,282.520 RMB mn in Dec 2014 and a record low of 6,348.600 RMB mn in Feb 2009. Beijing: Real Estate Investment: Year to Date: Construction data remains active status in CEIC and is reported by Beijing Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RK: Beijing Property.

Beijing: Real Estate Investment: Year to Date: Construction: Land Development data was reported at 448.130 RMB mn in Dec 2012. This records an increase from the previous number of 412.630 RMB mn for Nov 2012. Beijing: Real Estate Investment: Year to Date: Construction: Land Development data is updated monthly, averaging 437.730 RMB mn from Jan 2007 (Median) to Dec 2012, with 72 observations. The data reached an all-time high of 3,974.900 RMB mn in Oct 2009 and a record low of 41.010 RMB mn in Apr 2011. Beijing: Real Estate Investment: Year to Date: Construction: Land Development data remains active status in CEIC and is reported by Beijing Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RK: Beijing Property.

The statistic shows the annual construction of commercial properties started by property developers in China between 2013 and 2023. In 2023, annual started construction of commercial properties in China amounted to around ***** million square meters.

China Real Estate Investment: Commercial Building data was reported at 1,417,709.150 RMB mn in 2018. This records a decrease from the previous number of 1,563,989.740 RMB mn for 2017. China Real Estate Investment: Commercial Building data is updated yearly, averaging 278,564.940 RMB mn from Dec 1996 (Median) to 2018, with 23 observations. The data reached an all-time high of 1,583,752.830 RMB mn in 2016 and a record low of 42,584.520 RMB mn in 1997. China Real Estate Investment: Commercial Building data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RKA: Real Estate Investment: Commercial Building.

China Real Estate Inv: Year to Date: 40 City: Construction data was reported at 2,475,514.490 RMB mn in Oct 2018. This records an increase from the previous number of 2,210,975.840 RMB mn for Sep 2018. China Real Estate Inv: Year to Date: 40 City: Construction data is updated monthly, averaging 1,085,331.930 RMB mn from Mar 2007 (Median) to Oct 2018, with 118 observations. The data reached an all-time high of 3,309,551.970 RMB mn in Dec 2017 and a record low of 136,991.000 RMB mn in Mar 2007. China Real Estate Inv: Year to Date: 40 City: Construction data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RKE: Real Estate Investment: City.

The China construction market, valued at $4.59 billion in 2025, is projected to experience robust growth, driven by significant investments in infrastructure development, urbanization, and energy transition initiatives. A Compound Annual Growth Rate (CAGR) of 5.07% from 2025 to 2033 indicates a substantial expansion, reaching an estimated market value exceeding $7 billion by 2033. Key growth drivers include government policies promoting sustainable development, rapid economic growth fueling demand for residential and commercial construction, and the ongoing expansion of transportation networks (high-speed rail, roads, and ports). The market is segmented across residential, commercial, industrial, infrastructure (transportation), and energy and utilities sectors, with infrastructure projects playing a dominant role, given the government's focus on modernization. Major players like China State Construction Engineering, China Communications Construction Company, and China Railway Group are leveraging their expertise and scale to capitalize on this growth. While challenges exist, including potential material price fluctuations and environmental regulations, the overall outlook remains positive, supported by sustained government investment and a burgeoning middle class driving housing demand. Despite the promising outlook, the market faces some restraints. These include potential labor shortages, the need for enhanced technological adoption to improve efficiency and sustainability, and managing the environmental impact of large-scale construction projects. Navigating these challenges will be crucial for continued growth. The increasing emphasis on sustainable construction practices presents both a challenge and an opportunity, requiring companies to invest in green technologies and eco-friendly building materials. This focus on sustainability will influence future growth and necessitate adaptation from market players. The ongoing geopolitical landscape and potential economic shifts could also influence the trajectory of this dynamic market in the coming years, requiring continuous monitoring and strategic adjustments by businesses operating within this sector. Recent developments include: December 2023: Recently, "Engineering News-Record" (ENR), one of the world's most authoritative academic journals in engineering and construction, announced the winners of the 2023 Global Best Projects Awards. I received awards for two projects. The Lamu Port Berth 1-3 Project was honored with the Award of Merit in the Airport and Port category, while the Peljesac Bridge and its access roads in Croatia received the Award of Merit in the Bridge and Tunnel category., July 2023: The Shaoxing Metro Line 2, constructed by CRCC, officially opened, marking the commencement of a new era of automated and driverless subway systems in Shaoxing. This 10.8-kilometer line, featuring nine stations, represents Shaoxing's inaugural automated and driverless subway and the second in Zhejiang Province. As a co-host city with the most events for the Asian Games, the inauguration of Line 2 will further boost the development of the "Commuting Circle" for the Hangzhou Asian Games, providing robust support for the successful hosting of the event.. Key drivers for this market are: Government Infrastructure Spending, Urbanization and Increasing Disposable Incomes. Potential restraints include: Oversupply in the Real Estate, Labor Shortages. Notable trends are: Increase in Output value of China Construction Industry.

Beijing: Floor Space under Construction: Year to Date: incl. non Real Estate Developer data was reported at 179,563.000 sq m th in Dec 2018. This records a decrease from the previous number of 179,701.000 sq m th for Nov 2018. Beijing: Floor Space under Construction: Year to Date: incl. non Real Estate Developer data is updated monthly, averaging 152,976.000 sq m th from Jan 2007 (Median) to Dec 2018, with 138 observations. The data reached an all-time high of 227,219.000 sq m th in Dec 2016 and a record low of 69,703.000 sq m th in Feb 2007. Beijing: Floor Space under Construction: Year to Date: incl. non Real Estate Developer data remains active status in CEIC and is reported by Beijing Municipal Bureau of Statistics. The data is categorized under China Premium Database’s Real Estate Sector – Table CN.RK: Beijing Property.

The statistic shows the floor space under construction by property developers in China between 2013 and 2023. In 2023, around *** billion square meters of floor space were under construction by property developers in China.