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Sales of listed developers shrink

06-08-2010 11:47 BJT

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Sales by listed real estate developers in first tier cities fell in May. Sales in second and third tier cities are also down. According to reports released by many listed real estate developers such as Vanke, the sales all decreased by a big percentage.

Sales of some developers were down by as much as 40 to 50 percent. Analysts say it's due to the curbing policy issued in April, but it began to show its effect in May. As real estate market controlling measure continues, sales by developers may continue to decrease. Sales in the third quarter determine whether they can reach their whole year's target. Developers may achieve this through increasing their prices or sales in second and third tier cities.

Editor:Zhang Jingya |Source: CCTV.com

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