Developers' sales plunge 38pc

China's top 100 real estate developers saw their contracted sales plunging 38 percent year-on-year to 324.33 billion yuan (HK$361.64 billion) in February amid the coronavirus outbreak, mainland media reported, citing an industry report.

Property giants China Evergrande (3333) and Country Garden (2007) led the sector with sales of 47 billion yuan and 30 billion yuan respectively in February, according to China Real Estate Information Corp (CRIC), an online industrial information provider.

China Evergrande said yesterday that it had received subscriptions for 99,141 properties worth a total of 102.67 billion yuan after discounts, after putting all its mainland projects for sale online in February.

The mainland developer had offered a 25 percent discount for all properties on sales from February 18 to February 29.