China's real estate market will further consolidate this year, with major developers expected to outperform despite a tougher market than 2013, a report from Nomura Securities showed on Thursday.
Based on Nomura Securities' study, the top 20 developers had already gained a total market share of 22.9 percent by the third quarter of 2013, compared to 1.7 percent in 2012 and 18 percent in 2011.
"We favor names with big scale, because they have advantages on financing and land acquisitions, and have proven track records," said Jeffrey Gao, an analyst with Nomura Securities.
"In addition, we don't see a sales cap for top developers so far. A good entry point should appear in late February or early March, with potential catalysts of strong 2013 results, easing of mortgage loans and good January and February sales," Gao said.
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