Luxury Chinese developer sees sales surge

Luxury home developer Sunac China Holdings (1918.HKG) expects to see sales top US$11 billion (RMB65 billion) in 2014, Bloomberg reported, citing company chairman Sun Hongbin on Wednesday. That would represent an increase of 28% from 2013 sales of US$8.39 billion. The target was “cautious” as demand from rich buyers for luxury homes in big cities remained resilient amid government curbs, Sun said. China’s new-home prices in December had the biggest year-on-year gain in 2013, according to real estate website SouFun. At least 10 cities have tightened local property policies since November.