China Vanke's property sales rose 11.3% in May due to a thaw in China's housing market and government measures.
China Vanke's slumping property sales improved in May as the company's home sales rose 11.3% to 23.3 billion yuan, boosted by a thaw in China's housing market. The sales increase follows the central government's release of a rescue package to halt the real estate downturn. Shenzhen, where Vanke is based, and other major cities have lowered downpayment ratios and mortgage rates, contributing to the improved sales figures.
June 04, 2024
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