Chinese Developers Raise Sales Targets and Abandon Lower Tiers

With sales in first- and second-tier cities climbing 37 percent year-over-year, developers are raising sales targets and abandoning third- and fourth-tier cities.

One developer Xuhui is an extreme example:

According to Xu Hui Group's interim report, which has the first half of 2016 97% of sales revenue comes from a second-tier cities, 77% of revenue comes from Shanghai, Suzhou , Nanjing , Hefei, Hangzhou Yangtze River Delta cities. Among them, Xu Hui sales in Suzhou, Shanghai are very strong, more than 10 billion.

iFeng: 多家房企上调销售目标 布局核心城市放弃三四线