Source: China State Council Information Office
Major listed real estate firms in China saw sales growth in the first eleven months, Shanghai Securities News reported.
Nearly ten major developers have released their November reports with the Shanghai or Shenzhen stock exchanges, most of which saw their sales increase.
China Vanke Co., Ltd., a leading property developer, reported its contracted sales amounted to 573.5 billion yuan (81.3 billion U.S. dollars) in the first 11 months, up 5.44 percent year on year.
Seazen Holdings Co., Ltd, another property giant, reported its contracted sales surged 24.17 percent year on year to 246.6 billion yuan in the Jan.-Nov. period.
House prices in China’s major cities largely remained stable in the past months amid the country’s tightening control of the real estate market, with officials reiterating that “houses are for living in, not for speculation.”
China’s investment in property development grew 10.3 percent year on year in the first 10 months of 2019 to 10.96 trillion yuan, according to the National Bureau of Statistics.