China’s top 100 real estate firms saw a 16.5% year-on-year decrease in sales revenue in January this year. To reduce inventory, various regions in China have launched promotions to encourage the purchase of new homes during the Chinese New Year period.
According to a report from a third-party research institute, China Index Research Institute, on January 31st, the total sales revenue of the top 100 real estate firms in January 2025 was 235.03 billion yuan (RMB), marking a 16.5% decline compared to the previous year. The data indicated that in January, five companies among the top 100 real estate firms exceeded 10 billion yuan in sales revenue, which is a decrease of two compared to the same period last year, while eight companies reached 5 billion yuan in sales revenue, remaining the same as last year.
Moreover, in January, the top 100 real estate firms achieved a sales turnover of 227.61 billion yuan, still operating at a low level with a 3.2% year-on-year decline.
To address the inventory issue, cities like Nanjing and Suzhou have launched New Year promotions to attract buyers during the Chinese New Year holiday.
According to reports from The Paper on January 31st, the Nanjing Real Estate Industry Association announced that December 27, 2024, to February 28, 2025, will be designated as the promotion period for New Year and Chinese New Year purchases.
Cities in Jiangsu Province, including Suzhou and Lianyungang, have also introduced housing purchase activities during the New Year, offering discounted homes, boutique residences, and gifts such as tickets to scenic spots.
Additionally, cities like Jingzhou in Hubei, Hefei in Anhui, Zhengzhou, and Luoyang in Henan have organized activities such as discounted housing prices, household appliances giveaways with home purchases, and subsidies for home purchases.
Despite the promotional activities during the New Year period, China Index Research Institute believes that due to the influence of the Chinese New Year holiday in January, there has been a slight decrease in the transaction volume of new and existing homes in key cities compared to the previous period. Looking at the first quarter, the institute anticipates that sales volumes will remain at a relatively low level due to the low transaction volume of new homes in the first quarter of last year. The stabilization of the second-hand housing market still requires policy support.
Furthermore, on January 31st, according to reports from “Caijing,” CRIC, China’s largest comprehensive real estate information service provider, predicts that the total supply of commercial housing in China will continue to decrease in 2025, with the rate of decline likely slowing compared to 2024, while the scale of new home transactions may continue to decline.
Sales turnover refers to the sales performance completed by a salesperson or marketing team within a specific period. It is typically used to demonstrate a company’s or brand’s sales performance during a specific period.