Leading real estate companies in China 2022, by sales revenue
Real estate market in China
With nearly one hundred thousand real estate developers, China's real estate market is ranked among the world’s largest as of 2021, recruiting over 2.8 million employees, and generating revenue from real estate sales that has increased tenfold since 2005. China's real estate market has become a subject of debate for a long time, with housing prices doubling over the last decade, when the average real estate sale price per square meter in China skyrocketed from 3.8 thousand yuan in 2008 to more than 10 thousand yuan in 2021. However, different regions experienced substantially different price growth trends; as of 2021, Beijing was the region in China with the highest sales price of real estate, closely followed by Shanghai.
Future development
Considering the average income in the country, the housing prices in the largest cities are far beyond the affordability of an average household, even in suburb areas. China's central and western provinces had relatively less expansive real estate price. As a matter of fact, housing prices in China grew at a pace parallel to the country's GDP growth rate. The fluctuation of real estate prices is very likely to have a far-reaching impact on China's economic development; although the extremely high real estate prices in some regions of China are expected to fall, a sudden drop of housing prices would set off a chain reaction, leading to devastating consequences for the country's future.