Top 100 Chinese developers saw sales plunge 40 per cent in 2022 as property crisis deepened
- The 100 largest developers ended 2022 with 7.6 trillion yuan (US$1.1 trillion) in sales, down 41.3 per cent, according to the China Index Academy
- It is now the ‘survival of the fittest’ as the gap between the top 10 and the bottom 50 developers on the list is widening, the report said
The 100 largest property developers in China ended 2022 with 7.6 trillion yuan (US$1.1 trillion) in sales, down 41.3 per cent from a year before, according to a report by the China Index Academy (CIA).
The top 100 home builders, including Country Garden, Poly Real Estate and China Vanke, saw their market share shrink to 39.3 per cent in 2022, down by 12.3 percentage points from the previous year, CIA said in its end-of-year report. CIA is one of China’s largest independent real estate research firms.
It is now the “survival of the fittest” in China’s property sector, as the gap between the top 10 and the bottom 50 developers on the list is widening, the report said. The former made 310.7 billion yuan per firm on average, versus 27.6 billion yuan for the latter.
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Country Garden managed the most sales in 2022, raking in 464.3 billion yuan by shifting 57.16 million square metres of property.