business

Inventory levels of Chinese property companies return to average: Moody’s

BEIJING, Dec. 6 (Xinhua) — Chinese property companies’ inventory levels have returned to historical averages given strong sales recovery in the sector since April this year, an industry report showed.

The country’s property sales maintained strong growth in October, and the sales growth continued to accelerate over the period, according to a report by credit rating agency Moody’s.

The growth of contracted sales value, as measured by a three-month moving average, rose to 23.9 percent year on year, 2.6 percentage points higher than in September.

On the contrary, the growth of property prices continued to slow in October compared with September and August, according to the report.

“Inventory levels should stay healthy in the next 6 to 12 months given continuing sales growth and developers’ controlled pace of launching new saleable resources,” said Cedric Lai, vice president and senior analyst with Moody’s.

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