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China Property Crisis: More Pain Ahead In The New Year – SCMP

Outlook for China’s developers appears bleak amid looming debt maturities. falling home sales and uncertainty over a proposed property tax


China property
Home sales are likely to drop between 5 and 10 per cent this year, the report added, citing forecasts by analysts and rating companies. Photo: Reuters

 

Last year has no doubt been difficult for Chinese developers and the pain could get worse in the new year for companies, homebuyers and investors alike, the South China Morning Post reported.

The outlook for China’s developers appears bleak amid looming debt maturities. falling home sales and uncertainty over the proposed property tax, the report said. Home sales are likely to drop between 5 and 10 per cent this year, the report added, citing forecasts by analysts and rating companies.

 

Read the full report: SCMP

 

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Kevin Hamlin

Kevin Hamlin is a financial journalist with more than 40 years of experience covering Asia. Before joining Asia Financial, Kevin worked for Bloomberg News, spending 12 years as Senior China Economy Reporter in Beijing. Prior to that, he was Asia Bureau Chief of Institutional Investor for ten years.

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