China Evergrande, the country’s biggest home seller, said it would slash 30 per cent off the price of every real estate project nationwide for a month, in an unprecedented step that could kick off a spate of competitive discounts as cash-starved developers boost sales to raise cash in a slowing market.The Guangzhou-based developer, founded and headed by China’s third-richest businessman Hui Ka-yan, kicked off its month-long sales campaign on September 7. It aims to sell 200 billion yuan (US$29…
Source : South China Morning Post
Read more…Evergrande slashes property prices by 30 per cent across China for one month, sounding clarion call on discount war















