China Vanke, the country’s biggest listed property developer, has said its April property sales rose 22% from a year earlier to RMB5.27 billion ($772.5 million).
The sales figure was down 14% from March, however, while the volume of space sold during the month, at 595,000 square metres, rose 23.7% from a year earlier but was down 18% from the previous month.
For the first four months, the developer’s sales were up 21.4% year-on-year at RMB17.49 billion, while the volume of space sold rose 30.4% to 2.12 million square metres.
Reuters said that Vanke reported a 7.1% profit rise in the first quarter over the same period a year earlier, crediting government policies for restoring market confidence.
Vanke Chairman Wang Shi, seen above, said last month that the company was aiming to double its market share over the next decade, betting China’s housing market would pick up steam after a slump in 2008.
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