China Real Estate: Property sales by floor area fell 20.33% year-on-year against a 19.77% fall in September, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS).
Revenue from land sales fell 25.4% in October from a year earlier, extending a decline of 21.3% the prior month, according to Reuters calculations based on data from the finance ministry.
China Vanke: Vanke s bonds and shares have seen big selloffs since late October due to weak investor confidence and liquidity worries after defaults from string of developers including China Evergrande Group and Country Garden following the sector s slide into a debt crisis in mid-2021.
China Vanke: Hang Seng Mainland Properties Index dropped 2.6% on Tuesday, with Vanke s Hong Kong-listed shares easing more than 1%. That compared to gains of 3.4% and 7.2% respectively on Monday on news of a potential deal to shore up Vanke s finances.
Property Foreclosures In China: Property foreclosures in January-September rose to 584,000 units from 441,000 the same period last year, according to a survey by China Index Academy on Saturday, one of the country s largest independent real estate research firms.