Developers post gains in H1, forecast prices down

　　Despite the cooling market, China's four biggest property developers still posted gains for the first half of this year. They achieved a total of 6.7 billion yuan in net profits. But they all forecast a further drop in housing prices, with the progressing tightening policies.

　　China Vanke Company, the nation's biggest real estate developer, recorded more than 11 percent growth in net profit in the first half. Poly Properties saw a 16 percent increase.

　　While China Merchants Property and Gemdale both posted a three-figure growth rate. But the developers fulfilled less than half their whole year sales targets. They predict housing prices will return to a rational level in the second half.

　　And the macro policies may also affect housing supplies a year later, with increasing stockpiles and declining sales.