Caixin
Oct 10, 2018 08:14 PM
ECONOMY

Amount, Value of Land Bought by Property Developers Plummet in September

New housing is seen in Nanning, the Guangxi Zhuang autonomous region, on Sept. 20. Photo: VCG
New housing is seen in Nanning, the Guangxi Zhuang autonomous region, on Sept. 20. Photo: VCG

* Country Garden, Poly Developments and China Vanke all have reported steep year-on-year declines in both land area and volume this fall

* Land sales in first-tier cities have fallen in the first three quarters, while sales in smaller cities surged

(Beijing) — Several major Chinese property developers significantly slowed their land purchases in September, with real estate market insiders pointing to companies’ tightening finances.

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