China: Presales of properties sinks to 18-year low amid halting projects

Beijing [China], September 4 (ANI): The Chinese real estate market which once was a major contributor to the Chinese economy has reached the lowest share of new-home sales in 18 years as potential home-owners are shying from making purchases as after a string of cash-strapped developers halted construction, Nikkei Asia reported.

Reportedly, preselling of real estate properties allows the developers to recover their invest