China News Service, Beijing, December 12 (Reporter Liu Wenwen) China's property market recovery momentum is still insufficient, the sales of the top 1 real estate companies in November weakened, and the overall transaction is expected to stop falling and rebound in December.
Tao Shuru, director of enterprise research at the China Index Research Institute, said at a monthly real estate situation analysis meeting on the 1st that from January to November this year, the total sales of the top 1 Chinese real estate companies in terms of sales were 11,100.57379 billion yuan (RMB, the same below), a year-on-year decrease of 0.14%, and the decline was 7.1 percentage points larger than that of the previous month. The monthly sales of the top 6 Chinese real estate companies in November fell 100.11% year-on-year and 29.2% month-on-month.
According to the statistics of the China Index Research Institute, from January to November, there were 1 real estate companies with sales of more than 11 billion yuan, a decrease of 16 from the same period last year, and 3 real estate companies with sales of more than 108 billion yuan, a decrease of 10 from the same period last year. In the first 11 months, the top three sales performance of China's real estate enterprises were Poly Development, Vanke and China Overseas Real Estate, with sales of 3995.3430 billion yuan, 2870 billion yuan and <> billion yuan respectively. China Resources Land and China Merchants Shekou ranked fourth and fifth, respectively.
In addition, according to the statistical analysis of the CRIC Research Center, the monthly performance of nearly sixty percent of the top 11 real estate companies in November decreased month-on-month, but there were also some companies with relatively outstanding performance. For example, Greentown China, China Merchants Shekou, C&D Real Estate, Greenland Holdings, China Railway Construction, Yuexiu Real Estate, and Excellence Group all achieved month-on-month growth in November. It is worth noting that under the downward trend of the overall market, central and state-owned enterprises still maintain strong resilience.
On the whole, the current recovery momentum of the property market is insufficient, and the sales side of enterprises is subject to the overall demand and purchasing power of the market, and the performance remains sluggish. The China Index Research Institute said that at the end of December, under the marketing sprint of real estate companies, sales may improve, but most urban markets still have adjustment pressure. CRIC Research Center pointed out that December coincides with the sprint season of real estate performance, and the supply is expected to continue to rebound, and it is not excluded that some real estate companies will focus on year-end promotions for sprint performance, considering this impact, it is expected that the overall transaction is expected to stop falling and rebound month-on-month, but the increase is expected to be between 12% and 12%, and the cumulative decline in transactions throughout the year is expected to be 5%-10%. (ENDS)