01:13 AM EDT, 05/06/2022 (MT Newswires) -- China's top 100 developers reported a combined 58.6% drop in home sales in April due to the lingering slowdown in property buying, Yicai Global reported Thursday, citing data from real estate research institute China Real Estate Information Corp.
In the first four months of the year, sales plummeted 50.2%, the report said.
Of the top 100 builders in the country, 92 reported decreased sales in April versus a year earlier, Yicai said, citing data from think tank EH Consulting.
Country Garden Holdings (HKG:2007), China Vanke (SHE:000002, HKG:2202) and Poly Developments and Holdings Group (SHA:600048) registered sales of over 30 billion yuan ($4.49 billion), while China Overseas Property (HKG:2669) posted 22.7 billion yuan in revenue, according to the news outlet.
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