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Housing sales of 32 enterprises up by 37 pct. during Jan.-July

Xinhua Financein CNSTOCK
2018-08-10 16:28

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Real estate regulation hasn’t been relaxed since 2018, and has been further strengthened in many places since the second half of this year. However, under the pressure from regulation, sales performance of some leading real estate companies still continued to increase sharply, according to statistics by Centaline Group released on August 9.
Statistics showed that as of now, a total of 32 housing enterprises have unveiled sales performance for the first 7 months of this year with sales amount reaching 2,537.3 billion yuan, up by 37 percent from a year earlier.
Most housing enterprises saw positive growth in performance in July and the period during January and July. Sino-Ocean Group announced that its housing sales reached 5.52 billion yuan by contracts in July, up by 41 percent year on year, and amounted to about 50.63 billion yuan during January and July, an increase of 47 percent when compared with the same period of last year. In addition, housing sales of Longfor Properties rose by 65.8 percent from a year earlier to about 17.24 billion yuan in July, and hit a new high at around 114.34 billion yuan during January and July.
“Despite tightening regulation policies and increasing pressure on capital supply, real estate enterprises and particularly the leading ones still saw higher sales amount.” In the opinion of Centaline chief analyst Zhang Dawei, sales of these 32 housing enterprises continued to see higher and accelerating growth in July when compared with the year-on-year growth of 35.4 percent in June. “Sales of these 32 companies registered 332.8 billion yuan in July, soring by 46.3 percent from a year earlier. 55 percent of leading housing enterprises have accomplished their annual sales target during January and July.”

Zhang remarked that a total of over 60 cities introduced various real estate regulation policies in July, which was unprecedentedly intensive across the country, according to incomplete statistics. “The number of housing regulations all refreshed the record no matter in July or the first 7 months of this year.”
“Although the regulation saw significant effect in tier-1 and tier-2 cities, most leading housing enterprises across China are taking lands actively after measures of reducing inventories took effect.” Zhang added that in terms of the whole country, tier-1 and tier-2 cities were facing larger regulation pressure, while tier-3 and tier-4 cities witnessed higher land transaction deals. Under such major trend, a great number of leading housing enterprises are the leaders of taking land in housing market. Zhang believed that most housing enterprises will set new high sales record in 2018.
(Translated by Vanessa Chen
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