Poor Labor Day Sales May Herald Price Cuts at China Developers

        0140 GMT [Dow Jones] Chinese property developers could be forced to cut prices to increase sales volumes, as weak home sales are hurting sentiment among homebuyers, says Barclays. Real estate firms have been unwilling to cut prices, it says, and this resulted in poor sales over the recently concluded Labor Day Holiday, typically a peak period for sales--sales came out 46% below the average during the same period in 2011 to 2013. The Labor Day Holiday "will likely pressure developers to price properties more realistically," said Barclays. (daniel.inman@wsj.com)
        (END) Dow Jones Newswires

        May 06, 2014 21:40 ET (01:40 GMT)