BEIJING -- Home presales in China have reached the lowest share of new-home sales in 18 years as more consumers shy away after a string of cash-strapped developers halted construction.
Preselling lets real estate developers recover their investments faster, making it easier to proceed with new projects. It has become the main method of purchasing a home in China and has helped expand the housing supply. Homebuyers can purchase at a discount even if the market expands and prices rise.
