Sunac: Decline in land prices to continue

Sunac China Holdings Ltd, the Chinese mainland's fourth-largest developer by sales, said the land and home price slowdown is likely to remain, with property regulations also continuing to tighten.

There are no signs that property regulations will be eased in the near future, and the tightening has far exceeded expectations, Sunac's chairman Sun Hongbin told the media when announcing the company's interim results on Friday.

He said the company will continue to maintain its cautious and conservative approach to land acquisition in the second half of the year, amid the nation's property market controls.