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China's Property Management Industry

China Research - 2021

Report

Reihe: Savills Spotlight

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  • Erscheinungsdatum : 14.04.2021
  • Seiten : 15 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 2,60 MB
  • Sprache(n) : Englisch

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Inhalt

The property management sector is believed to be approximately 35 billion sq m by the end of 2020, according to CRIC, up from 19.3 billion sq m just five years ago with revenues of RMB1.27 trillion. The biggest 100 property management companies account for roughly 33% of space under management (11.55 bn sq m), having consolidated their market share from 18.1% in 2015. This tremendous growth can be attributed to the country's rapid urbanisation and continued investment in property development. Meanwhile, a constant stream of new stock, in addition to the consolidation of existing market share, represents significant market opportunities for managers in the near future.

China's real estate market and particularly the property management industry has a promising future. China has a population of 1.4 billion people, and, assuming a residential floor space of 45 sq m per capita, the residential market alone has a total GFA of 63 billion sq m. Add that to the 1.8 billion sq m and 521 million sq m of commercial and office space completed in just the last 25 years alone, and the market opportunity is staggering.

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