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China Vanke's Jan sales down 39% Y-O-Y

Feb. 6, 2012 (China Knowledge) - China Vanke Co Ltd<000002><200002>, the country's largest listed residential property developer, said last Friday that its contracted sales fell 39.3% year on year to RMB 12.2 billion in January 2012.

The sales last month reflected a year-on-year decline for the sixth consecutive month. The firm's sales dropped 30% year on year in December, 36% in November, 33% in October and 12% in September last year.
The developer sold 1.19 million square meters of properties in January 2012, 28.05% less than in the same month of 2011 but 98.66% more than in December 2011.

In 2011, China Vanke continued to lead the real estate market with its property sales amounting to RMB 121.54 billion, 12.4% more than the RMB 108.2 billion it achieved in 2010. Sales area rose 19.8% year on year to 10.75 million sq m last year.

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