2011-11-01

Developers start price war in China

Price war starts on mainland
Luk said he believed listed developers would take the lead in making deep price cuts since they were under pressure to lock up sales revenue as early as possible to meet their annual sales target before their financial year-ends next month.
I don't believe the cuts are as voluntary as the government, economists and developers make out. They need cash, nobody cuts prices 50% just to show the government that they're carrying out the policy.

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