UPDATE 1-China's Evergrande to offer discount for all properties on sale in Feb, March

China Evergrande Group, the third-largest developer by sales in the country, said on Sunday that it will offer a 25% discount for all properties on sales from Feb 18 to Feb 29.

The incentives come as property firms fear that the coronavirus outbreak would hit the market. Evergrande said it will also offer a 22% discount for all properties on sale, including office and commercial properties, in China in March.

"(The measures) are routine marketing and there is no specific reason for price cut this time," said an official at Evergrande. Chinese property developers and realtors have adopted virtual reality salesrooms and Livestream marketing to thaw a frozen market as the coronavirus epidemic keeps physical offices shut and potential buyers are afraid to leave their homes.

Evergrande said at a news conference on Sunday that nearly 50,000 properties had been sold since the company started online sales three days ago.