Date
12 December 2017

Property firms slash prices in first-tier cities, paper says

Property developers are slashing prices in first-tier cities such as Beijing and Guangzhou to boost sales, the Beijing Times reported Tuesday. China Vanke Co. Ltd. (000002.CN) offered a discount of up to 3,000 yuan (US$485.35) per square meter on a new project in Beijing over the weekend, while Poly Real Estate Group Co. Ltd. (600048.CN) lowered the down payment for its newly launched development in Guangzhou to 10 percent of the flat price, the report said.

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