China: revenue from residential real estate sold

Since the 1998 housing reform, the Chinese real estate market went through more than two decades of prosperity. The overall sales revenue of commercial residential housing skyrocketed from 251.33 billion yuan in 1998 to over 2 trillion yuan in 2008, and more than 16 trillion yuan in 2021. The country's economy now heavily relies on the real estate sector, with many local governments highly dependent on land transfer fees to cover their increasing public expenditure. With demands for residential housing potentially falling, the sector is posing a significant risk to the long-term healthy development of the Chinese economy.

Revenue from residential real estate sold in China between 1998 and 2021 (in billion yuan)

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Release date

October 2022

More information

Region

China

Survey time period

1998 to 2021

Supplementary notes

The values have been rounded to provide a better understanding of the statistic.

One yuan equals approximately 0.14 U.S. dollars and 0.14 euros (as of December 2022).

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