On the 2025 Fortune China 500 ranking for real estate companies, China’s leading real estate developer Poly Real Estate ranked first with a total revenue of ************ U.S. dollars, followed by China Vanke and Country Garden. Real estate market in ChinaIn the last 20 years, China’s real estate market has experienced its most prosperous development. Land purchase has also become an important source of financial revenue for many local governments. The housing price increased so rapidly, especially in larger cities, that the government had to take measures to restrict investment. With the slowdown of China’s economic development and gradually saturated market, people are also afraid of the burst of the real estate bubble. While the real estate price in smaller cities tended to stay stable or even decrease, there is still growing potential for real estate prices in larger cities, especially the first-tier cities. China’s consumers are increasingly interested in the high-quality real estate products built by leading real estate developers. Leading real estate developers in ChinaCompared to the ranking in 2021, there were ***** new members entering the leading ten real estate developer club in 2022. The larger developers became stronger as they had advantages in land acquisitions, financing, marketing and pricing power which is difficult for smaller developers to catch up with. Thus, consolidation is also very common among China’s real estate developers. In 2022, *** real estate giants disappeared from the Fortune 500 ranking list, Evergrande and Sunac. Affected by the changing real estate market, they were facing cash flow problems and were affected heavily by the debt crisis.

Mortgage interest rates in Spain soared in 2022, after falling below *** percent at the end of 2021. In the first quarter of 2025, the average weighted interest rate stood at **** percent. That was lower than the rate in the same period the previous year. Despite the increase, Spain had a considerably lower mortgage interest rate than many other European countries. The aftermath of the property bubble Before the bursting of the real estate bubble, the housing market experienced a period of intense activity. A context marked by economic growth, high employment rate, low interest rates, skyrocketing house prices and land speculation, among others, encourage massive lending for the acquisition of property; in 2005 alone, more than *** million home mortgages were granted in Spain. When the bubble burst and the financial crisis hit the country, residential real estate transactions plummeted and households’ non-performing loans jumped to nearly ** billion euros as countless families were not able to cope with their debts. Over a decade after the onset of the crisis, and despite falling mortgage rates, the volume of mortgage loans keeps decreasing every year. A homeowner country Traditionally, Spain has been a country of homeowners; in 2021, the homeownership rate was roughly ** percent. While nearly half of Spanish households own their property with no outstanding payment, the percentage of households that have loan or mortgage pending has been decreasing in recent years. Despite ownership remaining as the preferred tenure option, cultural changes, job insecurity and mounting house prices are prompting Spaniards to opt more and more to become tenants instead of owners, as shown in the changing dynamics of the Spanish residential rental market.