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July 5, 2017

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Home » Business » Real Estate

Real estate giants pull ahead of rival firms

By Cherry Cao | 00:01 UTC+8 July 5, 2017 | Print Edition

CHINA’S real estate industry continued to consolidate in the first six months of the year with top players extending their leadership and market share as competition intensified, latest industry data shows.

In terms of half-year sales by value, the top 10 developers jointly contributed 26.6 percent of the country’s total, 8 percentage points more than from last year, according to latest data compiled by CRIC.

CRIC is subsidiary of E-House China Holdings, one of the largest real estate services companies in China.

Total sales for the first half were about 5.84 trillion yuan (US$855 billion.)

In terms of sales by area, the top 10 developers accounted for 15.8 percent of the total, up from 12.5 percent a year earlier.

By sales value, the threshold for making it into the top 10 rose 40 percent from same period a year ago to 70.2 billion yuan (US$10.3 billion) and that for top 20 and top 30 players surged 48 percent and 78 percent to 41.3 billion yuan and 30.9 billion yuan, respectively, further evidence for the Matthew effect — in which the strong get stronger while the weak get weaker.

Country Garden, China Vanke Co and Evergrande Group were the top three, with H1 sales all exceeding 200 billion yuan (US$29.4 billion). Poly Real Estate, Greenland Group, Sunac China and China Overseas Property trailed closely with each with sales of more than 100 billion yuan, according to a separate report by the China Index Academy.

Average property sales accomplished by the seven 100-billion-yuan club members reached 184.8 billion yuan, a year-on-year surge of 39.3 percent, or the fastest among all groups.

That compared to the annual rise of 2.5 percent for developers with sales of 50-100 billion yuan, a 7.44 percent increase by developers with sales between 20 billion yuan and 50 billion yuan, the 2.8 percent gain by developers with sales between 5 billion yuan and 10 billion yuan and a 4.8 percent decline for companies with sales of 10-20 billion yuan.

National reach, financing advantages and operational strength were the three main reasons behind super players’ much faster growth.

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