Data comes via CRIC, a Chinese real-estate data provider, released over the weekend.
- Sales at the country’s top 100 property developers fell 39.7% in July from the same period last year
- July sales were down 28.6% from June m/m
Info conveyed via the Wall Street Journal (gated):
- China’s home sales often experience a lull in July, because developers rush to book sales in June to meet first-half targets. But analysts said the main drag on activity this time has been the mortgage revolt and its impact on would-be buyers’ confidence
- The widespread mortgage revolt is over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments
