Home Business China’s real estate market continues to decline. Top 100 real estate companies’ sales in November plummeted by 40% | Chinese real estate companies | China’s real estate bubble | Sales

China’s real estate market continues to decline. Top 100 real estate companies’ sales in November plummeted by 40% | Chinese real estate companies | China’s real estate bubble | Sales

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[New Tang Dynasty Beijing time December 03, 2021]Lu Media quoted the latest data that the sales of China‘s top 100 real estate companies in November decreased by 39.3% compared with the same period last year, and the downward sales trend since July continues.

According to a report from China‘s “China Business News“, on November 30, a number of research institutions released November’s sales data for real estate companies, showing that although companies are working hard to sprint year-end performance, the downward trend in sales since July is still Continue.

Among them, the data of China‘s real estate big data platform Craneville shows that the full-caliber sales amount of China‘s top 100 real estate companies in November was 845.03 billion yuan, a decrease of 5.9% from October. The single-month performance also continued the year-on-year decline since July, and the year-on-year decline expanded to 39.3%.

The cumulative year-on-year increase in the first 11 months was only 1.8%, a marked slowdown from the 7.5% as of the end of October.

Online transmission of sales data of China‘s top 100 real estate companies. (Twitter screenshot)

In terms of corporate performance, more than 80% of the top 100 real estate companies saw a year-on-year decline in monthly performance in November, and more than half of them fell by more than 30%. There were 56 top 100 real estate companies with both year-on-year and month-on-month sales declines, a significant increase from the previous month.

The data also showed that the transaction area of ​​commercial residential buildings in 29 key monitored cities in China fell 4% month-on-month, and the year-on-year decline expanded to 32%.

According to the sales data provided by Yihan Think Tank, in addition to Evergrande, among the top ten real estate companies, the monthly sales of Greenland, Sunac China, Country Garden, China Resources Land, and China Overseas Land Development also fell sharply, with a year-on-year decline of 56%, 47%, 34%, 30%, 18%. Among the real estate companies ranked 11th to 20th, Zhongnan Land, Shimao, CIFI, Xincheng, Jinke, Sunshine City, and Zhongliang all experienced year-on-year declines of more than 30%.

In fact, among the top 20 real estate companies, only Gemdale Group achieved year-on-year growth.

Chinese independent economist Ma Guangyuan recently warned in a video that if China’s real estate bubble bursts, 70% to 80% of China’s property will be reduced to ashes, because 70% to 80% of the people’s wealth lies in their houses, so the authorities All we are doing now is to maintain the “stability of real estate.”

For many years, the Chinese Communist government has used to prevent developers from lowering prices as one of the measures to prevent market collapse. But as real estate companies have fallen into business crisis one after another, housing prices have shown signs of “instability”. Although many local governments have successively issued “restriction orders”, developers in various regions still cut prices in various ways to alleviate the plight of insufficient funds.

In October of this year, the Chinese Communist Party’s centrally-owned Zhonghai Real Estate’s Wuhan Optics Valley Donglu Community reduced its price by 20 to 30%. The previous homeowners collectively defended their rights and were violently suppressed by the local government. The official reply stated that China Shipping’s price cut did not violate the relevant provisions of the “Commercial Housing Sales Management Measures.”

(Reporter Zheng Gusheng Comprehensive Report / Chief Editor: Cheng Feifan)

The URL of this article: https://www.ntdtv.com/gb/2021/12/02/a103283531.html

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