Property News · September 7, 2020

Evergrande slashes property prices by 30 per cent across China for one month, sounding clarion call on discount war


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