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China Vanke sales down 12.6pct in August; Average home price down 6pct

Posted on 07 September 2011

China Vanke Co. Ltd. sold 960,000 square meters of properties in August worth RMB 10.48 billion, up 15.4% month-on-month but down 12.6% year-on-year, while its average sale price also fell 6% last month, the developer said in a company filing on Monday.
That’s the first actual drop in single-month sales for the country’s largest residential property developer this year. Sales for the past 8 months totaled RMB 84.57 billion, up 47.8% y-o-y; area sold totaled 7.33 million square meters, up 50.4% y-o-y……………………………………….Full Article: Source


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