19 September 2018

Strong housing demand may prompt new property curbs, paper says

China may roll out new measures to curb property prices as housing demand remains high, fueling record sales at major property developers in October, the National Business Daily reported Wednesday. Evergrande Real Estate Group (03333.HK) booked 16.62 billion yuan (US$2.7 billion) of sales last month, up 57.8 percent from the previous month and marking a new high, while Sunac China Holdings Ltd. (01918.HK) also saw record high sales of 6.25 billion yuan during the month, it said. Other major property firms, including Greentown China Holdings Ltd (03900.HK) and Vanke (000002.CN), all realized over 90 percent of their full-year sales targets as of October, the report said. Property developers may now take a wait-and-see approach on new investments amid the possibility of new government curbs, an analyst was quoted as saying.

– Contact HKEJ at [email protected]



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