Mainland Chinese property developers and property management companies are sliding in Hong Kong as latest data showed persistent weakness in the struggling housing market.
Sino-Ocean Group is slumping more than 11%, A-Living Services sliding 10%, R&F Properties falling 5.9%, all hitting the lowest levels on record. CIFI Holdings and Greetown China are sliding nearly 5%, China Resources Land down 4.4% and China Vanke down more than 4%.
Home prices in China’s major cities mostly declined at a faster pace in August after signs of stabiliztion in July, as the effects of the supportive measures introduced in previous months have gradually eased.
The average new home price in China’s 70 major cities fell by 0.7% in August from the previous month and second-hand home price fell 0.9%, both expanding by 0.1 percentage point from the declines in July, according to data released by the National Bureau of Statistics (NBS). Read more …
China’s real estate development investment, developers’ fundraising and property sales continued to drop in Aug, while unsold properties rose further to a historic high.
China’s real estate development investment fell 10.2% in the period of January – August from a year earlier, in line with the decline in the first seven months of the year, and of that, the investment in residential property development slid 10.5%, showed the data Read more …
