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02.03 - 10:17
Chinese Developers’ Sales Tumble in January
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China’s property developers started 2022 with weak sales, as many real-estate companies struggled to rekindle interest from home buyers despite Beijing’s recent attempts to ease some restrictions on the troubled sector.
January contracted sales reports released in recent days by more than a dozen Chinese developers showed year-over-year declines ranging from about 10% to more than 80% for some companies. They also reflected price reductions by industry heavyweights such as Country Garden Holdings Co. Ltd. and Sunac China Holdings Ltd.
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