Top-Tier Cities Overtake Regional Hubs to Drive China Property Sales

Top Chinese property developers derived the largest share of their sales from the country's four biggest cities in the first half of 2026, outperforming second-tier regional hubs for the first time.

Tier-1 cities — Beijing, Shanghai, Guangzhou, and Shenzhen — accounted for 45.5% of sales for 20 major builders during the period, according to data from the China Index Academy. This marks a significant shift from three years ago, when top-tier cities contributed just 28% of sales while second-tier cities drove the majority of revenue.