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