The seven-day Golden Week holiday used to be a busy time for developers, but not this time.
Analysts expect the weakest October in recent memory and see developers offering more price cuts after sales in 31 cities, monitored by property consultancy CRIC, fell 27 per cent year on year.
The bearish sentiment is also taking its toll on property stocks. The Hang Seng Mainland Properties Index has fallen to its lowest level since August 2017 and is down 17.5 per cent from its recent peak on…
Source : South China Morning Post
Read more…Chinese developers set for disappointing October as cash discounts fail to spur Golden Week sales















