No Let-Up for Indebted Chinese Developers

There was no let-up in the pressure on China’s real estate developers in March, as sales in some large and midsize cities dropped by nearly half from a year before and more developers ran the risk of default, Caixin reported.

Housing sales by floor space fell 49.1% year-on-year in March in 17 Chinese cities, a deeper contraction than a 23.4% drop the previous month, according to data from property think tank China Index Academy.

Read the full report: Caixin

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.