Home sales rise in September
Updated: 2012-10-15 15:42
By Hu Yuanyuan (chinadaily.com.cn)
The home sales of China's leading listed property developers increased in September on a monthly basis, fueled by a market recovery, industry data showed on Monday.
By Oct 14, a total of 20 large-scale listed real estate firms had released their third-quarter financial reports, the Securities Times said. Their sales in September hit 65.8 billion yuan ($10.43 billion), up 10 percent from the previous month. And sales in the first nine months reached 488.9 billion yuan, up 8.1 percent from the same period last year.
"Since March, most of property developers began destocking. And some of them even raised their annual sales targets because of the strong rebound in the market. I will not be surprised at all if the sales of the leading listed property developers reaches a record high this year," said Zhang Dawei, head of market research at Centaline Group in northern China.
Centaline is the parent company of a large Chinese real estate brokerage.