Business / Industries

Property sales in China's major cities drop in Oct

By Hu Yuanyuan ( Updated: 2012-10-30 15:30

Property sales in China's 54 major cities dropped 6.4 percent month-on-month in October, the third consecutive drop, data from real estate consultancy firm Centaline Group showed on Tuesday.

Around 212,713 apartments were sold out in October, compared with 227,000 in September, Centaline said.

Second-tier cities, such as Suzhou, Hangzhou and Qingdao, saw the biggest drop as demand there is not as strong as in the first-tier cities.

"Most of the demand from self-use buyers has been met during the strong rebound since March," said Zhang Dawei, research head of Centaline Beijing.

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