China’s large-scale real estate developers expanded their share of the market in the first half of 2018.
Data from the China Index Academy indicates that a total of 138 real estate companies posted sales of over 5 billion yuan in the first half of 2018, for an increase of 12 companies compared to last year.
Their total sales amount was 4.9743 trillion yuan during the period, for a year-on-year rise of 25.6%, while their market share increased by 15.2 percentage points to hit 76.4%.
Analysts point to a marked increase in the concentrated nature of the Chinese real estate sector and the dominance of large-scale players.
According to the data there were a total of seven real estate developers in China who posted sales of over 100 billion yuan in the first half, for an increase of 32.5%, including Country Garden (over 400 billion yuan), Evergrande Group and Vanke (both over 300 billion yuan).
20 real estate companies posted sales of between 50 billion and 100 billion yuan, for an increase of 13 compared to last year.
“In terms of the focus of companies, second-tier cities remain the main driver for real estate developers,” said a senior analyst from the China Index Academy. “Third and fourth-tier cities have seen a marked rise in sales.”