Date
18 October 2017

China property sales to moderate this month, paper says

Leading real estate developers such as China Merchants Property Devt. Co. Ltd.(000024.CN), Evergrande Real Estate Group Ltd. (03333.HK) and China Vanke Co. Ltd. (000002.CN) are expected to see their property sales moderate this month after they recorded year-on-year increases of 30 to 50 percent in January sales, the Shanghai Securities News reported Tuesday. The period after the Chinese New Year holiday is traditionally a slower month for sales. Meanwhile, tightened mortgage rate discounts and higher downpayment requirement for purchase of second-homes will also impact sales this month, the report said.

– Contact HKEJ at digest@ejinsight.com

EL/AC/RC

 

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