Agile Property Holdings yesterday started offering up to 25 per cent discounts on its flats in 10 of its projects in Guangdong province, a trend which is likely to spread as more developers slash prices to stay afloat amid a tight credit environment.
The Guangdong-based developer said the offer would last 20 days.
A company spokeswoman said the discount offer was only part of the marketing campaign to commemorate the company's 20th anniversary.
'It has nothing to do with the slowdown of the property market,' she said. Six of the 10 projects - including Metro Agile Zhongshan, Agile Baron Hill and La Cite Greenville - are in Zhongshan city.
The company did not say how many units were on discount, but the spokeswoman said it would not make a major difference to the company's bottom line.
This is one of the biggest price discounts from a listed developer in recent months. In February, China Merchants Property cut prices by about 20 per cent on 22 developments across 14 cities.
According to property consultant DTZ, lending to developers remains tight as the central government refuses to ease the curbs in place to rein in what was once an overheated property sector.