Sales at China’s top 100 property developers fell 40% in July

Data comes via CRIC, a Chinese real-estate data provider, released over the weekend.

  • Sales at the country’s top 100 property developers fell 39.7% in July from the same period last year
  • July sales were down 28.6% from June m/m

Info conveyed via the Wall Street Journal (gated):

  • China’s home sales often experience a lull in July, because developers rush to book sales in June to meet first-half targets. But analysts said the main drag on activity this time has been the mortgage revolt and its impact on would-be buyers’ confidence
  • The widespread mortgage revolt is over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments
china apartments 20 July 2022
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