China Residential Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The China Residential Real Estate Market Report is Segmented by Type (Villas and Landed Houses, Apartments and Condominiums) and by City (Shenzhen, Beijing, Shanghai, Hangzhou, Guangzhou, and Other Cities). The Report Offers the Market Sizes and Forecasts for the China Residential Real Estate Market in Value (USD) for all the Above Segments.

China Residential Real Estate Market Size

China Residential Real Estate Market (2024 - 2029)
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China Residential Real Estate Market Analysis

The China Residential Real Estate Market size is estimated at USD 628.53 billion in 2025, and is expected to reach USD 802.18 billion by 2030, at a CAGR of less than 5% during the forecast period (2025-2030).

China's residential real estate sector is undergoing significant structural changes as authorities implement comprehensive measures to stabilize the market. In 2023, the government rolled out a series of initiatives, including expanded access to loans through regional "whitelists" of eligible projects and the introduction of 17 targeted measures to support the residential rental housing market. These policy adjustments have been complemented by substantial funding commitments, with the first batch of qualifying real estate projects in eight designated cities requiring approximately 3.5 trillion yuan in financing to stimulate economic activity within the sector.


The market is witnessing a gradual shift towards urban renewal and sustainable development, with ambitious infrastructure improvements taking center stage. The government has announced plans to renovate 50,000 aging urban housing communities in 2024, building upon the success of approximately 66,000 urban renewal initiatives completed in 2023 that attracted investments totaling 2.6 trillion yuan. These projects have resulted in the addition of 36,000 elevators, the construction of 850,000 parking spaces, and the establishment of 21,000 childcare and elderly care facilities, demonstrating a comprehensive approach to community development.


Housing affordability and market accessibility have become primary focus areas, with various regions implementing targeted measures to support homebuyers. Beijing and Shanghai have introduced significant policy adjustments, with Beijing reducing down payment requirements to 30% for first-time buyers and 40% for subsequent purchases, effective January 2024. The market has shown signs of stabilization in certain regions, as evidenced in Tianjin, where the average sales price of newly built commercial residential property reached 17,796 yuan per square meter in 2023, marking a 2.2% year-on-year increase.


The sector is experiencing a notable transformation in delivery and construction practices, with an emphasis on fulfilling pre-sale commitments and adopting innovative building technologies. Since the launch of the "ensuring timely delivery of pre-sale housing" initiative, over 1.65 million presold homes have been successfully delivered, significantly boosting market confidence. The industry is also embracing modernization through partnerships with technology companies, as exemplified by LaSalle Investment Management's announcement in January 2024 to inject RMB 10 billion into China's rental housing sector over the next three years, focusing on key cities like Shanghai, Beijing, Guangzhou, and Shenzhen.

Segment Analysis: By Type

Apartments and Condominiums Segment in China Residential Real Estate Market

The apartment and condominium segment dominates the China residential real estate market, commanding approximately 91% market share in 2024, valued at USD 2201.26 billion. This substantial market position is driven by several factors, including rapid urbanization, with China's urbanization rate reaching 66.16% and continuing to grow as over 10 million rural residents migrate to cities annually. The segment's dominance is further reinforced by government initiatives supporting affordable housing development and urban renewal projects, with plans to renovate 50,000 aging urban residential communities in 2024. Additionally, major cities like Beijing and Shanghai have implemented policies to ease homeownership paths, including reduced down payment requirements and trimmed mortgage interest rates, particularly benefiting first-time homebuyers in the apartment segment.

Market Analysis of China Residential Real Estate Market: Chart for By Type

Villas and Landed Homes Segment in China Residential Real Estate Market

The villas and landed homes segment is projected to demonstrate the strongest growth trajectory in the China residential real estate market, with an expected growth rate of approximately 2% during the forecast period 2024-2029. This growth is primarily driven by the increasing demand for luxury housing options, particularly in first-tier cities like Shanghai, where luxury housing commands prices exceeding CNY 50 million. The segment's expansion is supported by strategic developments from major real estate companies and innovative financing options. Government policies supporting the high-end real estate market, including optimized loan policies and reduced down payment requirements in select districts, are also contributing to this segment's accelerated growth. The segment is particularly benefiting from the trend of upgraded housing demands among affluent Chinese consumers seeking more spacious and exclusive living environments, including townhouse and other residential property types.

China Residential Real Estate Industry Overview

Top Companies in China Residential Real Estate Market

The Chinese residential real estate market features prominent players like China Vanke Co. Ltd, China State Construction Engineering Corporation Ltd, Evergrande Real Estate Group Limited, Country Garden Holdings Company Limited, and China Resources Land Limited. These companies are increasingly focusing on technological innovation through smart home integration and sustainable building practices to differentiate their offerings. Operational agility has become paramount, with developers adopting flexible construction timelines and modular building techniques to accelerate project completion. Strategic moves in the sector include increased investment in affordable housing projects and urban renewal initiatives, aligning with government priorities. Companies are also expanding their service offerings beyond traditional development to include residential property management, rental services, and community development, creating additional revenue streams while strengthening customer relationships.

Fragmented Market with Strong Local Players

The Chinese residential real estate market exhibits a relatively fragmented structure, characterized by a mix of well-established global players and emerging local developers. Local players maintain significant market advantages through their deep understanding of regional preferences and established relationships with municipal authorities. The market has witnessed increased collaboration between domestic and international developers through joint ventures, allowing them to combine financial strength with local market expertise. These partnerships have become increasingly important as developers seek to navigate the complex regulatory environment while maintaining competitive advantages in their respective regions.


The market has experienced notable consolidation attempts, particularly as smaller developers face financial pressures and stricter regulatory requirements. Larger conglomerates are strategically acquiring distressed assets and smaller companies to expand their market presence and diversify their portfolio across different cities and market segments. This consolidation trend is further accelerated by government policies encouraging the development of more professionally managed and financially stable real estate enterprises, leading to the emergence of stronger, more integrated property development and management companies.

Innovation and Adaptability Drive Future Success

Success in China's residential real estate market increasingly depends on companies' ability to adapt to changing consumer preferences and regulatory requirements. Incumbent players are strengthening their market position by investing in digital transformation, developing smart property management systems, and creating integrated community solutions. Companies are also focusing on environmental sustainability and energy efficiency in their developments, anticipating stricter environmental regulations and growing consumer awareness. The ability to maintain strong relationships with financial institutions and government authorities while delivering quality projects on time has become crucial for maintaining market share.


For new entrants and smaller players, success lies in identifying and serving niche market segments or underserved geographical areas. Companies are developing specialized expertise in areas such as affordable housing, senior living communities, or eco-friendly developments to differentiate themselves from larger competitors. The increasing importance of residential property management services and community development presents opportunities for companies to establish strong customer relationships and build brand loyalty. Additionally, the ability to navigate regulatory changes and maintain financial stability while delivering innovative solutions will be crucial for long-term success in this evolving market.

China Residential Real Estate Market Leaders

  1. China Vanke Co., Ltd.

  2. China State Construction Engineering Corporation

  3. Country Garden Holdings Company Limited

  4. China Resources Land Limited

  5. Sunac China Holdings Limited

  6. *Disclaimer: Major Players sorted in no particular order
China Residential Real Estate Market Concentration
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China Residential Real Estate Market News

  • February 2022: Dar Al-Arkan, a Saudi real estate corporation, announced the creation of an office in Beijing, China. The move is in accordance with Dar Al-strategic Arkan's expansion ambitions and builds on the company's global brand development efforts. The company's Beijing office is expected to serve a variety of tasks, including establishing joint ventures between Dar Al-Arkan and renowned Chinese real estate developers for both the Chinese and Saudi markets, as well as enhancing investment and knowledge-sharing opportunities between the two countries. Dar Al-office Arkan's will serve as a hub for Chinese enterprises and investors looking to expand, start businesses, or invest in the Kingdom.
  • February 2022: China Evergrande Group announced that it sold stakes and "right to debt" in four developments to two state-owned trust firms for CNY 2.13 billion (USD 0.35 billion), in a move to ensure their construction goes ahead as well as delivery of its other projects. The world's most indebted property developer is struggling to complete projects and homes - deemed a priority by China's policymakers to ensure social stability - while weighed down by its more than USD 300 billion in liabilities. Evergrande sold its stake and right to debt in a residential development in Chongqing and Dongguan to Everbright Trust for CNY 1.03 billion (USD 0.19 billion), as well as those in a housing project in Foshan and a theme park development in Guangzhou to Minmetals Trust for CNY 1.1 billion (USD 0.16 billion).

China Residential Real Estate Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Current Market scenario
  • 4.2 Residential Real Estate Buying Trends - Socioeconomic and Demographic Insights
  • 4.3 Government Initiatives and Regulatory Aspects for Residential Real Estate Sector
  • 4.4 Insights on Size of Real Estate Lending and Loan to Value Trends
  • 4.5 Insights on Interest Rate Regime for General Economy, and Real Estate Lending
  • 4.6 Insights on Rental Yields in Residential Real Estate Segment
  • 4.7 Insights on Capital Market Penetration and REIT Presence in Residential Real Estate
  • 4.8 Insights on Affordable Housing Support Provided by Government and Public-private Partnerships
  • 4.9 Insights on Real Estate Tech Start-ups Active in the Real Estate Segment (Broking, Social Media, Facility Management, and Property Management)
  • 4.10 Impact of COVID-19 on the market

5. MARKET DYNAMICS

  • 5.1 Drivers
  • 5.2 Restraints
  • 5.3 Opportunities
  • 5.4 Industry attractiveness - Porter's Fives Forces Analysis
    • 5.4.1 Bargaining Power of Suppliers
    • 5.4.2 Bargaining Power of Consumers / Buyers
    • 5.4.3 Threat of New Entrants
    • 5.4.4 Threat of Substitute Products
    • 5.4.5 Intensity of Competitive Rivalry

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Apartments & Condominiums
    • 6.1.2 Villas & Landed Houses
  • 6.2 By Key Cities
    • 6.2.1 Shenzhen
    • 6.2.2 Beijing
    • 6.2.3 Shanghai
    • 6.2.4 Hangzhou
    • 6.2.5 Guangzhou
    • 6.2.6 Other Key Cities

7. COMPETITIVE LANDSCAPE

  • 7.1 Market Concentration Overview
  • 7.2 Company Profiles
    • 7.2.1 China Vanke Co., Ltd
    • 7.2.2 China State Construction Engineering Corporation Ltd (CSCEC)
    • 7.2.3 Evergrande Real Estate Group Limited
    • 7.2.4 Country Garden Holdings Company Limited
    • 7.2.5 China Resources Land Limited
    • 7.2.6 Sunac China Holdings Limited
    • 7.2.7 China Overseas Land & Investment Limited
    • 7.2.8 Longfor Group Holdings Limited
    • 7.2.9 Shimao Group Holdings Limited
    • 7.2.10 China Merchants Shekou Industrial Zone Holdings Co., Ltd *
  • *List Not Exhaustive

8. FUTURE OF THE MARKET

9. APPENDIX

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China Residential Real Estate Industry Segmentation

Residential real estate is an area developed for people to live in and cannot be used for commercial or industrial purposes. It emerges when land sanctioned for residential use is purchased by someone, which becomes real property and encompasses a large variety of potential dwellings, from houses to houseboats and from neighborhood types ranging from the poorest slum to the wealthiest suburban subdivision. The report focuses on the market dynamics, technological trends, insights, and government initiatives in the residential real estate sector. Furthermore, it analyzes the key players present in the market and the competitive landscape in the Chinese residential real estate market. China's residential real estate market is segmented by type ( villas and landed houses, apartments, and condominiums) and by city (Shenzhen, Beijing, Shanghai, Hangzhou, Guangzhou, and other cities). The report offers the market sizes and forecasts for the China residential real estate market in value (USD) for all the above segments.

By Type Apartments & Condominiums
Villas & Landed Houses
By Key Cities Shenzhen
Beijing
Shanghai
Hangzhou
Guangzhou
Other Key Cities
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China Residential Real Estate Market Research Faqs

How big is the China Residential Real Estate Market?

The China Residential Real Estate Market size is expected to reach USD 628.53 billion in 2025 and grow at a CAGR of less than 5% to reach USD 802.18 billion by 2030.

What is the current China Residential Real Estate Market size?

In 2025, the China Residential Real Estate Market size is expected to reach USD 628.53 billion.

Who are the key players in China Residential Real Estate Market?

China Vanke Co., Ltd., China State Construction Engineering Corporation, Country Garden Holdings Company Limited, China Resources Land Limited and Sunac China Holdings Limited are the major companies operating in the China Residential Real Estate Market.

What years does this China Residential Real Estate Market cover, and what was the market size in 2024?

In 2024, the China Residential Real Estate Market size was estimated at USD 597.10 billion. The report covers the China Residential Real Estate Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the China Residential Real Estate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

China Residential Real Estate Market Research

Mordor Intelligence provides a comprehensive analysis of the residential real estate sector in China. We leverage our extensive expertise in residential property research and consulting. Our detailed report covers the entire spectrum of housing segments. This includes apartments, townhouses, and condominiums. We also examine the crucial role of home builders and residential construction activities. The analysis encompasses both affordable housing initiatives and luxury housing developments. It provides insights into urban housing trends and suburban housing patterns, all available in an easy-to-download report PDF format.

The report offers invaluable insights for stakeholders across the residential property management sector, the home renovation industry, and the residential development landscape. Our analysis covers crucial aspects of residential investment opportunities, residential REIT performance, and residential mortgage trends. The comprehensive coverage extends to residential rental markets, residential leasing dynamics, and residential brokerage services. We also examine the growing demand for vacation homes and new homes. Stakeholders benefit from a detailed analysis of residential land utilization, existing homes inventory, and emerging trends in the management of residential properties, all presented in an accessible format.

Compare market size and growth of China Residential Real Estate Market with other markets in Real Estate and Construction Industry

China Residential Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)