China’s leading property companies have posted a poor performance for the opening month of 2020.
The 2020 January China Real Estate Enterprise Top 100 Sales Ranking (2020年1月中国房地产企业百强销售榜) recently released by CRIC indicates that China’s 100 leading real estate enterprises saw total sales of 509.705 billion yuan in January, for a drop of nearly 12% compared to the same period last year.
Nearly 70% of companies in the top 100 saw YoY declines in their single-month sales performance in January, including Greenland Holdings, with a drop of 47%, and Poly Real Estate, with a decline of 44.39%.
Sunac, Longfor Properties and Zhenro Properties all saw YoY sales declines of over 20%.
As of the end of January 2020 the sales threshold for joining the ranks of CRIC’s top 100 Chinese real estate companies was 900 million yuan, for a YoY drop of 19.1%.