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Fewer homes sold
By Cao Qian |
June 8, 2010, Tuesday
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Print Edition
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CHINA Vanke Co, the nation's largest publicly listed real estate developer, reported yesterday that it sold fewer homes by volume and value in May as market sentiment remained sluggish across the country after the central government curbed speculation in the overheated market.
Sales fell 20 percent annually to 5.11 billion yuan (US$748 million) last month after 470,000 square meters of new houses were sold nationwide, a drop of 32.6 percent from the same period a year earlier, Vanke said in a statement to the Shenzhen Stock Exchange yesterday.
Between January and May, Vanke sold a combined 2.35 million square meters of new houses with sales totaling 28 billion yuan, according to the statement.
On a monthly basis, sales in May dropped 26 percent by volume and 34 percent by value.
Sales fell 20 percent annually to 5.11 billion yuan (US$748 million) last month after 470,000 square meters of new houses were sold nationwide, a drop of 32.6 percent from the same period a year earlier, Vanke said in a statement to the Shenzhen Stock Exchange yesterday.
Between January and May, Vanke sold a combined 2.35 million square meters of new houses with sales totaling 28 billion yuan, according to the statement.
On a monthly basis, sales in May dropped 26 percent by volume and 34 percent by value.
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