The Chinese real estate market continues to slump, with the sales scale of real estate enterprises further shrinking. Among medium-sized real estate enterprises with sales ranging from 30 to 100 billion yuan (RMB), only 6 remain, a decrease of over 20 companies in three years. Many real estate companies have seen their sales drop below 30 billion yuan, while the number of companies with sales exceeding 100 billion yuan has decreased to 39, down by 10 from the same period last year.
According to a report from Financial News, a Chinese media outlet, recent data released by the China Index Research Institute shows that in the first seven months of this year, there were a total of 5 real estate companies with sales exceeding 100 billion yuan, the same as in 2025. These companies include Poly Developments, China Overseas Land & Investment, China Resources Land, China Merchants Shekou, and Greenland China.
The number of medium-sized real estate enterprises with sales ranging from 30 billion yuan to 100 billion yuan has decreased by 4 from the same period in 2025, with only 6 remaining. In comparison, there were 27 such companies in 2023, marking a reduction of 21 companies over three years.
Prominent real estate development companies such as Country Garden, Longfor Group, and China Fortune Land Development have seen their sales drop to around 20 billion yuan, while companies like Sunac China, Agile Group, and Evergrande Group have sales of only around 10 billion yuan. The total number of companies with sales exceeding 10 billion yuan has also decreased to 39, down by 10 from the same period last year.
Furthermore, compared to the first seven months of 2023, the total sales of the top 10 real estate companies in the same period this year have decreased from around 1.73 trillion yuan to 935.49 billion yuan, a decrease of approximately 45.8%. The sales of companies ranked 11th to 30th and 31st to 50th have also decreased by around 62.4% and 63.1% respectively.
In response to this trend, a personnel from the investment expansion department of a large real estate enterprise stated that although the land market has briefly picked up in recent years, there has been no significant improvement in the salability of projects for medium-sized real estate companies. Many companies have not been acquiring land for a long time and are primarily relying on selling existing projects. As the number of salable projects gradually decreases, the sales scale of these companies will continue to decline.
The decline in sales scale will lead real estate companies from different backgrounds to pursue different survival strategies. The aforementioned individual mentioned that some companies that have not faced a debt crisis are voluntarily reducing investments, shifting their focus to stabilizing cash flow and increasing project profits, or retreating from national layout to focus on advantageous regions. Companies that have experienced a debt crisis, on the other hand, are focusing on ensuring the completion and delivery of projects, promoting debt restructuring, disposing of existing assets, and may find it challenging to resume land acquisitions and large-scale development in the short term.