Real Estate
Country Garden Sales Slump Drags On Amid Broader Home Struggles
Residential buildings under construction at a Country Garden Holdings Co.'s development in Foshan.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Country Garden Holdings Co.’s sales slump continued in February, as new home transactions saw only a tepid recovery across China and homebuyers shifted to state builders.
Contracted sales dropped 38% from a year earlier to 2.3 billion yuan ($317 million), following a 59% year-on-year drop in January, Bloomberg calculations based on corporate filings show. Sales were little changed from the previous month.