Chinese real estate companies have been busy purchasing land and houses since the beginning of this year as China's property market heated up.

Nearly 60 listed firms have released plans to buy land or houses, pushing the total value up to 9.3 billion yuan. Most of the companies' spending in the property market was far more than their net profit. By location, those companies preferred to buy in big cities such as Beijing, Shanghai, Guangzhou and Shenzhen.

Meanwhile, many financial institutions, especially insurance companies have also been raising their holdings in property assets. For example, Guohua Life purchased a property project in Shanghai for nearly 3.3 billion yuan in July.