Nearly 90% of Listed Chinese Property Firms See Sales Declines in Jan-Feb
The coronavirus has put a major dent in sales by listed Chinese property companies for the first two months of 2020.
Data from Centaline Property indicates that the contracted sales of 30 listed Chinese property companies for the first two months of 2020 was 552.5 billion yuan, for a YoY decline of 19%.
26 of these companies saw sales declines for the January-February period, with only four posting gains of between 8% and 66%.
“Because of the delay in online signature data, the actual sales figure for February is perhaps even lower, which will be reflected in the March sales results,” said Centaline chief analyst Zhang Dawei (张大伟).
Zhang expects the gradual recovery of property market transactions from March onwards as major Chinese cities accelerate work resumption.