Daiwa House Industry Co., Japan's biggest home builder, said it may sell some houses and apartments at a loss to lure buyers as the recession threatens to prolong the country's longest housing slump.

Daiwa House has cut prices for some apartments by as much as 20%, Tetsuji Ogawa, executive vice president and chief financial officer, said in a recent interview. The Osaka-based company is also reducing land purchases by about two-thirds for the six months through March from a year earlier.

Japan Times