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China Vanke's property sales up 24.25% M-O-M in Jun

Jul. 5, 2012 (China Knowledge) - China Vanke Co Ltd<000002><200002>, the country's largest listed residential property developer by market value, announced yesterday that its property sales rose 24.25% MoM or 0.68% YoY to RMB 13.32 billion in June this year.

The developer sold 1.22 million sq m of properties last month, 19.41% more than in May or 8.51% more than in the same month of 2011.

In the first six months of this year, the company's property sales amounted to RMB 62.54 billion, reflecting a narrowed decline of 4.74% from the corresponding period of last year. Sales area rose 6.54% YoY to 6.03 million sq m during the period.

The developer last month added five development projects.

Data from the China Real Estate Index System showed that the average property price in 100 major Chinese cities increased 0.05% to RMB 8,688 per sq m in Jun.

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