Real Estate
Country Garden’s Sales Slump Worsens in January Adding to Woes
- Sales down 59% year on year in January amid market weakness
- China is struggling to revive real estate market sales
A Country Garden development in Foshan, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Country Garden Holdings Co.’s sales slump dragged on in January, as new residential transactions countrywide resumed falling on weak sentiment.
Contracted sales dropped 59% from a year earlier to 2.26 billion yuan ($309 million), following a 51% year-on-year decline in December, according to Bloomberg calculations based on corporate filings.