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Mainland China home sales fall amid new law

Posted on 12 November 2012

According to the South China Morning Post, the value of private housing sold on the mainland fell 6.8 per cent in October, despite strong sales gains in previous months. Data from the National Bureau of Statistics showed October’s sales amounted to 503.7 billion yuan (HK$620.22 billion), versus 540.4 billion yuan in September.
“Home sales in early September and in previous months were very strong. Developers also sped up launches of their new projects and offered sweeteners to lure buyers, which is why sales were strong, but then declined in October,” said Clement Luk, chief executive at Centaline (China), in eastern and northeastern China………………………………………..Full Article: Source


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