Developer Sees Slide in January Property Sales

(Beijing) -- Gemdale Corp., a major real estate developer, reported plunging property sales in January as government curbs over soaring home prices buttressed a wait-and-see mood among prospective buyers. 

Gemdale sold 37,000 square meters of property last month, down 66.8 percent from a year earlier, with the total value of transactions down 75.8 percent to about 400 million yuan, the developer said in a filing to the Shanghai Stock Exchange on February 10.