For leading real estate companies, the past November has not been cold. Although Evergrandes sales fell after reaping the golden nine silver ten, many medium-sized real estate enterprises are still speeding up their sprint. According to the statistics of yijukerui, in the first 11 months of this year, the sales volume of top 100 real estate enterprises reached 10.3 trillion yuan, up 17.7% year on year. Among them, the sales growth rate of 11 to 30 medium-sized real estate enterprises is 26%, which is the fastest group.
The rise of this group has accelerated the market share of large and medium-sized real estate enterprises. A report by Huachuang Securities pointed out that in the first 10 months of this year, the sales of the top 30 real estate enterprises accounted for half of the national real estate sales. In 2011, it was only about 15%.
The industry will eventually become a giant game. Some people in real estate enterprises summed up this.
More than 30 100 billion regiments
In November this year, Vanke achieved a contract sales area of 3.645 million square meters, with a contract sales amount of 54.54 billion yuan, and continued to maintain stability. Since this year, Vankes monthly sales have remained between 43 billion and 67 billion. If we put aside the influence of Spring Festival in February this year, Vankes sales data basically did not rise or fall.
In the first 11 months of this year, Vanke achieved a total contract sales area of 36.974 million square meters, a year-on-year increase of 2.73%, and a contract sales amount of 573.53 billion yuan, a year-on-year increase of 5.44%.
Evergrande launched a wide range of price preference strategies at the end of August. Affected by this, Evergrande successively printed out monthly sales records of 83.13 billion yuan and 90.3 billion yuan during the golden nine silver ten period. By November, with the gradual withdrawal of promotional measures, Evergrandes sales fell sharply to 37.06 billion yuan.
Even so, in the first 11 months of this year, Evergrande still rose to the second place in the industry by virtue of its sales scale of 580.56 billion yuan.
The king of sales of the real estate industry is still country garden. Since this year, country garden no longer publishes full caliber sales data, but instead publishes the amount of equity sales. According to the statistics of yijukerui, in the first 11 months of this year, the full caliber sales data of country garden has reached 751.5 billion yuan, up 13% year on year.
According to the statistics of yijukerui, rongchuangs sales volume reached 500.4 billion in the first 11 months, up 20% year on year. So far, the 500 billion club of Chinese real estate enterprises has been expanded to four members.
Among the real estate enterprises that have published sales data, the sales data is mainly growth. In the first 11 months of this year, the contract sales of Xincheng Holding Co., Ltd. were RMB 246.562 billion, an increase of 24.17% year on year; the sales of Financial Trust Co., Ltd. were RMB 126.093 billion, an increase of 16.5% year on year; the sales of Olympic Park was RMB 101.27 billion, an increase of 37%. However, the performance of small-scale real estate enterprises was poor. In the first 11 months, the sales scale of Jingrui holdings was 20.631 billion yuan, down 4.55% year on year.
Since this year, the real estate regulatory policy has been under pressure, and some regional markets have also seen a downward trend. In order to collect funds, brand real estate enterprises generally increased their sales efforts, and made the sales heated up. Among the large and medium-sized real estate enterprises, except for a few enterprises such as Greenland and Taihe, the performance floating red is still the main theme.
In the first 11 months of this year, the total sales volume of top 100 real estate enterprises was about 10.3 trillion yuan, up 17.7% year on year, according to data released by e-jukerui.
The general growth of sales has also raised the scale threshold of the industry. By the end of November, 27 real estate companies had sold more than 100 billion yuan, according to the agency. By the end of this year, the number of 100 billion legions is expected to exceed 30. Five years ago, there were only seven hundred billion real estate enterprises.
The existence of real estate enterprises
With the reversal of industry supply-demand relationship and the normalization of real estate market regulation, in recent years, the concentration of real estate industry is accelerating.
According to the report of Huachuang securities, from January to October 2019, the sales amount of the top 50 real estate enterprises reached 7.5 trillion yuan, accounting for more than 60% of the total sales amount of commercial housing in China, while in 2011, the proportion was less than 20%. During this period, the sales of top 30 real estate enterprises increased from 15% to 50%; the sales of top 10 real estate enterprises increased from 10% to 30%. Industry concentration has accelerated. Huachuang securities summed up this way.
The real estate industry has always been scale oriented. Zhang Dawei, chief analyst of Zhongyuan Real estate, told 21st century economic news that large-scale enterprises have obvious advantages in financing and land acquisition, and they are easy to obtain brand premium in sales. Therefore, to improve the competitiveness of real estate enterprises, to do large-scale is almost the only way..
In recent years, with the continuous pressure of regulatory policies and the downward trend of some regional markets, it is more important to increase the size of the market.
21st century economic news reporter learned that with the tightening of financing policy, since this year, the scope of most banks real estate development loans has been reduced from top 50 real estate enterprises to top 30 real estate enterprises.
Trust companies are increasingly picky.. The head of a well-known trust told the 21st century economic reporter that in addition to the ranking of real estate enterprises, there are also strict requirements for the city and location where the project is located. Because the trust requires a high rate of return on investment, the best project must be selected.
Our financing channels have been relatively smooth, but the cost is higher (when the market is not good), the head of a 100 billion level real estate enterprise in Beijing told 21st century economic news. The bank line of credit is not used up every year.
In contrast, small real estate enterprises are more likely to have capital problems. According to statistics, since 2019, there have been 13 real estate bond defaults involving three issuers, namely Yihe real estate, Guogou investment and Huaye capital - all small real estate enterprises. In October this year, Sansheng Hongye also encountered rights protection from employees due to its failure to cash in internal financial products.
Zhang Dawei said that from the perspective of proportion, the number of enterprises that have actually defaulted on their debts accounts for a very small proportion, indicating that the industry has not deteriorated to the point where small companies cannot survive. But compared with rongchuangs easy start of ten billion level acquisition, the life of small real estate enterprises is quite difficult.
He said the trend of increasing industry concentration will continue. Many small enterprises have no access to the land, and have no momentum for scale, but large real estate enterprises are still taking the land. According to the statistics of Zhongyuan Real estate, in the first 11 months of this year, the land acquisition expenditure of the top 50 real estate enterprises has exceeded 2 trillion yuan, up 17% year on year, a record high.
The real estate industry will eventually become a giant game. According to the aforementioned real estate enterprise personage, if the real estate market regulation is not fundamentally loose, there may be a wave of bankruptcy in the industry in the future, mainly small real estate enterprises. Medium sized real estate enterprises will appear differentiation, either catch up or fall behind.
Source: responsible editor of 21st century economic report: Chen Hequn, nb12679