Property giants smash sales targets as prices soar

Sales of China's three largest property developers have exceeded 200 billion yuan ($29.98 billion) so far this year, fueled by a huge housing boom.

In addition to Vanke Co Ltd, Evergrande Group and Country Garden Holdings Co Ltd, two other property giants - Greenland Group and Poly Real Estate Group Co Ltd - will also see a similar breakthrough in sales this year, and more property developers will meet the sales target of 100 billion yuan, expert say.

The transaction volume of Shanghai-based Greenland Group reached 144.73 billion yuan in the first eight months, and that of Guangzhou-based Poly Real Estate Group Co Ltd was 137.36 billion yuan.