Companies

China Vanke property sales up 76% in May

(Agencies)
Updated: 2011-06-08 16:09

China's Vanke, the country's largest developer by sales, said its May property sales jumped 76.4 percent from a year earlier to 9 billion yuan ($1.4 billion), rebounding from a slump the previous month.

Related readings:  Property developers struggle as govt cools market  Demand in small cities lifts Vanke sales profit  China Vanke reports 7% rise in Q1 net profits  Vanke to build govt-subsidized homes

Sales growth slowed to just 1.3 percent in April, down from 47.8 percent in March, following the government's clamp-down against real estate speculation.

Analysts have cautioned against reading too much into the volatile monthly sales data and the overall cooling trend in the real estate sector is likely to continue for some time yet.

A senior government researcher was quoted as saying last week the curbs on property speculation work to control inflation and could ease social discontent over widening wealth disparity.