Jan. 5, 2012 (China Knowledge) - China Vanke Co Ltd<000002
>, the country's largest listed residential property developer, announced yesterday that its property sales fell 30.3% year on year to RMB 5.82 billion in December last year.
The sales last month reflected a year-on-year decline for the fifth consecutive month. The company's property sales slid 36% year on year in November, 33% in October, 12% in September and 12.6% in August respectively.
Last month, the developer sold 599,000 square meters of properties.
China Vanke continued to lead the real estate market with its property sales amounting to RMB 121.54 billion in 2011, 12.4% more than the RMB 108.2 billion achieved in 2010. Sales area rose 19.8% year on year to 10.75 million sq m last year.
In December, the company added six development projects that will have gross floor area of 977,000 sq m in total.