Real estate company sales rankings for the past 2 months released: Vanke drops to tenth place. Who is breaking through against the trend?

Due to the influence of the Spring Festival holiday, the February real estate market remains in the traditional “off-season rest period.”

According to CRIC data, in February 2026, typical top 100 real estate companies achieved a single-month sales transaction amount of 123.42 billion yuan; cumulatively, the top 100 companies’ sales transaction amount for the first two months was 288.87 billion yuan.

Meanwhile, the ranking landscape among real estate companies is quietly changing. Central and state-owned enterprises continue to dominate the top tier, while some high-quality private developers are showing resilience amid adjustments.

According to Centaline Research Institute data, the top 10 companies’ rankings in the first two months saw some adjustments compared to January. In the top tier, Poly Developments, China Overseas Land & Investment, China Resources Land, and Greentown China remain in the top four, with sales of 25.7 billion yuan, 22.9 billion yuan, 21.7 billion yuan, and 18.3 billion yuan respectively.

In positions five to ten, rankings have shifted. Compared to January, China Merchants Shekou moved up to fifth place in the industry, while Jianfa Properties and China Jinmao ranked sixth and seventh respectively. China Travel Investment maintained eighth place thanks to excellent performance in the first two months, and private developer Binjiang Group ranked ninth.

Notably, the former industry leader Vanke continued to see declining performance, dropping to tenth place. In terms of sales, Binjiang and Vanke are the threshold members of the “billion-yuan club” within the top 10, with sales below 10 billion yuan.

Analysts note that from the perspective of the top 100 developers, industry differentiation remains prominent. Data from Centaline Research Institute shows that in January-February 2026, among the top 100 sales companies, 52 are central and state-owned enterprises and local state-owned enterprises, while 43 are private developers. Compared to the full year of 2025, the number of private developers has increased, demonstrating some market vitality.

Among them, private companies like Binjiang Group, Longfor Group, Dahua Group, and Xingyao Real Estate are relatively stable, maintaining sales performance while also sustaining a certain scale of investment. Meanwhile, some distressed private developers facing operational difficulties have seen their sales scale severely shrink, but due to accumulated land resources, they still rank within the top 100 in sales.

CRIC data further confirms the differentiated performance of private enterprises. In February, 29 typical developers achieved year-on-year growth in total performance. Among the top 10 companies with the highest year-on-year sales increase, 7 are small and medium-sized private firms, such as Junyi Holdings, Maoye Holdings, Lian Tai Real Estate, Coast Group, and Hong Kong-funded Kerry Properties.

On the policy front, although February is a low season for the market, key cities have introduced support measures for the real estate sector, sending positive signals to the market. On February 25, Shanghai released the “Seven Policies,” which include reducing housing purchase restrictions, optimizing the use of housing provident funds, and improving property tax policies. Additionally, regions like Fujian and Chongqing have optimized housing provident fund loan policies, while Chongqing, Ningbo, and Jinan have issued home purchase subsidies, continuously boosting demand-side policies.

“With the upcoming National Two Sessions, further optimization of real estate policies is expected,” said an analyst from Centaline Research Institute.

As migrant workers return to cities after the Spring Festival and online signing normalizes, market expectations for March are high. Monitoring data from key cities indicates that supply will experience a small peak in March. CRIC analysts point out that Guangzhou will accelerate project launches in March, with four new projects opening for the first time in the city center. New home supply will double month-on-month, driven by demand for second-hand housing and school district properties, likely leading to a significant increase in transaction volumes for both new and second-hand homes.

Wuhan will also see a phased supply peak in March, with several new projects scheduled for opening. Hangzhou is expected to see multiple new projects entering the market in March, including several land king projects from 2025. Supply and demand are expected to increase substantially, and high sales rates are anticipated for these projects, especially those with high launch volumes, such as popular and luxury developments.

“February, as the Spring Festival month, generally sees real estate companies avoid launching new projects during the holiday, concentrating their launches in March-April’s early spring.” However, CRIC analysts note that as pent-up demand from the holiday is released and with cities easing restrictions, promoting urban renewal and second-hand property acquisitions, the “little spring” in March is highly promising, with transaction volumes expected to rebound significantly month-on-month.