China in property sales bonanza
Property sales in
China´s leading 100 property developers have reported a year-on-year increase of 65% in unit sales, a national real estate research organisation announced in
According to a new report, the companies sold an average of 5.007 billion yuan (US$705 million) worth of properties during 2007. The annual report, released by China Real Estate Top 10 Research, tracked 500 property developers who either sold more than 300 million yuan worth or 100,000 square meters of property each year between 2005 and 2007 on average.
China Vanke Co, which built 48,000 apartments across the country last year, maintained first place. The Shenzhen-based company sold homes with a total gross floor area of 6.14 million square meters worth 52.36 billion yuan in 2007, up 90.1 percent and 146.6 percent from 2006 respectively.