From 2013 to 2023, the residential floor space sold in China experienced varied growth patterns. The series began with a notable 17.52% increase in 2013, but fluctuated significantly over the years, eventually reaching 178.13 million square meters in 2023. Notable year-on-year variations included a decline in 2014 (-9.1%) and substantial growth in 2016 (22.35%). The compounded annual growth rate (CAGR) also exhibited variability, with a peak at 14.31% in 2013 and settling at 3.81% by 2023. Looking ahead, forecasted data from 2024 to 2028 suggests a stable but moderate growth trend with a 5-year CAGR of 2.67% and an overall 14.06% increase by 2028.
Future trends to watch for include:
- Government policies impacting the real estate market.
- Urbanization rates and demographic shifts.
- Economic indicators influencing purchasing power and real estate demand.
- Technological advancements in construction and real estate services.
