Key facts
- Top Chinese property developers generated the largest share of their sales from Beijing, Shanghai, Guangzhou, and Shenzhen in the first half of 2026.
- These four tier-1 cities accounted for 45.5% of sales for 20 major developers during the period.
- This is the first time top-tier cities have driven more sales than second-tier regional hubs.
- Three years ago, top-tier cities contributed only 28% of sales, with second-tier cities leading revenue generation.
Top Chinese property developers are now deriving the largest portion of their sales from the country's four largest cities, a significant shift from previous years. In the first half of 2026, Beijing, Shanghai, Guangzhou, and Shenzhen collectively accounted for 45.5% of sales for 20 major builders, according to data from the China Index Academy. This marks the first time these tier-1 cities have outperformed second-tier regional hubs in driving developer revenue. Just three years prior, these top-tier cities contributed only 28% of sales, with second-tier cities being the primary source of revenue for developers.