China’s property market continues to face significant challenges with steep declines in sales, investment, and profitability, raising new doubts about the state media’s narrative of a gradual recovery.
According to data released on July 31 by the China Index Academy, total sales by the country’s top 100 real estate developers reached 2.07 trillion yuan ($285 billion) in the first seven months of 2025—down 13.3 percent year-over-year. The pace of decline has accelerated, widening by 1.5 percentage points compared with the first half of the year. In July alone, sales dropped 18.2 percent from a year earlier.
Meanwhile, more than 60 percent of A-share-listed developers—41 of 65 firms—are expecting losses, according to research firm E-house China R&D Institute which looked at their earnings forecasts for the first half of 2025….
China’s Property Crisis Deepens as Sales, Profits, and Prices All Tumble
