Impressive Vanke display at a sales exhibition
Shenzhen-based real estate developer Vanke’s sales volume may increase 10% in 2009, reports Reuters quoting company Vice President Xiao Li.
Property prices have returned to reasonable levels in the Pearl River Delta, where Vanke runs 30-40% of its business, said Xiao.
Xiao predicted that domestic property sales volume will rebound 7%-8% after falling 20% in 2008.
China Vanke, the country’s biggest listed real estate developer, hopes to increase its sales volumes this year by about 10% as the housing market pulls out a deep slump.