Property developers sell more in Jan-Oct

Updated: 2012-11-08 13:44


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BEIJING - A total of 14 property developers had posted their January-October performance reports as of Thursday, and the climbing sales revenue indicated a warmed-up market.

The developers sold about 436.9 billion yuan ($69.24 billion) worth of property in the past ten months, up 14.5 percent from the same period last year.

These developers include China Vanke Co, the nation's biggest property developer, and Poly Real Estate Group Co, the second-largest by market value. More developers will publicize their reports soon.

The property market is stabilizing, as some large developers have reported positive capital influxes, but some small ones have faced difficulties in raising funds, said Su Xusheng, a property analyst with Great Wall Securities.

Poly Real Estate reported contract sales of about 25.99 billion yuan in the January-October period, up 16 percent from the same period last year, according to its report filed to the Shanghai Stock Exchange on Thursday.