Realtors get inventive to beef up sales amid property slowdown
China's real estate market is due to come under pressure next year because of the slowdown in economic growth, with property developers strengthening their marketing campaigns to stimulate sales.
The total contracted sales of the residential property market are expected to decline by 5 to 10 percent this year compared to 2013, largely due to the drop in sales volume, according to a report by Moody's Investors Service.
"China's weak residential property sales year-to-date were largely driven by lower transaction volumes. We expect price pressure to increase over the next few months," said Franco Leung, vice-president and senior analyst at Moody's. "Many of the 70 major cities are expected to report month-on-month price declines over the next few months."