September 7 -- Kaisa Group Holdings (1638.HK) released its home transaction value grew 10 percent month-on-month but down 19 percent year-on-year to two billion yuan in August, reports guandian.cn. Its actual transaction value grew 265 percent year-on-year after deducting its 1.9 billion yuan gains from the sale of a commercial property last August. Transaction area grew 138 percent year-on-year to 364.47 square meters in August with an average price of 5,469 yuan per square meter.

In the first eight months, Kaisa recorded transaction value and area of 8.3 billion yuan and 1.22 million square meters, up 31 percent and 136 percent year-on-year respectively. Average transaction price dropped 44 percent year-on-year to 6,821 yuan per square meter in the first eight months.

The firm expanded outside Shenzhen and into areas where home prices were lower. That was reportedly the reason for its lower average transaction price. The group bought a plot of land for 465 million yuan in Dongguan city, Guangdong Province. The plot covers 65,020 square meters with construction area estimated at 97,530 square meters. It will be used for residential purposes.

Through the end of August, the group had 5.68 million square meters of developments under construction and 18.84 million square meters allocated for development.

Source:capitalvue