Dec 06, 2021 08:24 PM

FINANCE

Property Sales in China Fall for Fifth Straight Month

By Wang Jing and Zhang Yukun

A salesperson describes a housing development to potential buyers in Changzhou, East China’s Jiangsu province, on Feb. 21. Photo: VCG

A salesperson describes a housing development to potential buyers in Changzhou, East China’s Jiangsu province, on Feb. 21. Photo: VCG

China’s real estate market continued to flounder in November. The sales of the top 100 property developers plunged 37.6% year-on-year by value, marking the fifth successive month of decline.

In the past month, the top 100 developers reported total property sales of 750.8 billion yuan ($117.9 billion), down 3.4% from October, a report released by consultancy China Real Estate Information Corp. (CRIC) on Tuesday showed. Among these developers, four out of five reported lower sales compared to November last year.

　

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Inside the 2023 Caixin Summer Summit

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin-Sinica Business Brief: Venture Capital Giant Sequoia to Carve Out China Business Over Geopolitical Concerns

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Consumers Are Flush With Cash, So Why Does the Recovery Have the Wobbles?

2: CATL Shares Nosedive Amid Speculation on Weakened Tesla Tie

3: In Depth: U.S. Tensions Could Sap Chinese EV-Battery Makers’ Global Ambitions

4: In Depth: The March of Chinese Robots Into Domestic Factories

5: In Depth: Where Are Chinese Consumers Willing to Spend?

SPONSORED

OR