Chinese Property Enterprises See More than 200% Sales Rise in March as COVID-19 Lockdown Eases
Property companies in China have seen a sharp rise in sales following the loosening of nationwide lockdowns to contain the COVID-19 outbreak.
A report from Shidai Caijing (时代财经) examined the sales levels of 25 property companies throughout China that have released their performance results for March.
According to the report these companies posted an increase in sales compared to the previous month of over 200% on average, while some companies even saw gains compared to the same period last year.
China Jinmao saw the strongest YoY growth with sales contracts of 13.045 billion yuan in March, for a YoY rise of 29.99%.
Risesun Real Estate Development saw sales contacts of 7.734 billion yuan in March, for a month-on-month rise of 591.77%.
Evergrande Group saw the strongest sales performance in March at 62.08 billion yuan, although the average price for its contractual sales was 8938 yuan per square metre, for a YoY decline of 16.54%.