China homes sales continue to tumble as Beijing's support measures fail to shore up weak sentiment in property market [Yahoo! Finance]
CHINA OVERSEAS L&I UN/ADR (CAOVY)
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Source: Yahoo! Finance
and reported declines of more than 40 per cent in January, according to real estate brokerages. Home sales at 24 major Chinese developers fell by 45 per cent year on year in January and 41 per cent month on month, CGS-CIMB Securities said in a report on Thursday. The brokerage cited data from China Real Estate Information Corporation (Cric), one of the largest real estate brokers in the country. The decline came despite a low base, suggesting weak sentiment among homebuyers amid expectations that home prices will continue on a downward trajectory because of China's slow economic recovery , the report said. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. "January property sales ... were well below market expectations of some 5 to 10 per cent decline," Raymond Cheng, CGS-CIMB's managi
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