About half of 30 major Chinese developers featured on a list by consultancy E&H Corp. still had a 20% gap in annual sales targets heading into the fourth quarter, South China Morning Post reported. Inventory overhangs have delivered a substantial hit to developers’ profit margins this year, and analysts said developers would have to sacrifice prices in order to stimulate demand–a tactic some have already adopted. A jump in October sales revenue for Evergrande Real Estate, China’s third-largest developer by sales, came with a dip in its average selling price to RMB7,860 (US$1,239.27) per square meter from September’s RMB7,910 per square meter.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved