Kaisa 9-month sales rise 33pc to 87.5b yuan

Finance | Staff reporter 5 Oct 2021

Mainland developer Kaisa Group (1638) recorded contracted sales of approximately 5.7 billion yuan (HK$6.88 billion) with a contracted gross floor area of approximately 305,760 sq m in September.

The total contracted sales of the company for the first nine months rose nearly 33 percent year-on-year to approximately 87.55 billion yuan with the total contracted GFA rising 34.2 percent to approximately 5.16 million sq m.

Meanwhile, Shenzhen saw second-hand property transactions drop 80 percent year-on-year to an 11-year low of 1,765 in September, which is usually a golden month for property sales.

The figure has fallen for the sixth consecutive month following the special economic zone's efforts to suppress the secondary property market and xuequfang - properties in school districts.

The market participants generally believe that the current second-hand property market in Shenzhen has not seen a "price cut wave", but most homeowners are no longer as crazy as before. The selling prices are more rational and are close to the official second-hand reference price.

In other news, state-owned banks in cities including Guangzhou and Foshan have lowered their mortgage rates last month and are expected to speed up mortgage approvals in the second half of the year, mainland media reported.

The Guangzhou mortgage interest rate fell after eight consecutive months of rising, and some banks reduced the interest rate by 40 basis points.



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