Caixin
Dec 06, 2021 08:24 PM
FINANCE

Property Sales in China Fall for Fifth Straight Month

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.

 

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