Property News · August 30, 2020

China residential property sector a ‘slow growth market’ now, as sales and profits decline, Beijing steps up cooling measures


It is tough being a residential property developer in mainland China at the moment. Profits and sales have largely diminished, and only the government’s cooling measures seem to lie ahead for the 16 trillion yuan (US$2.3 trillion) housing market.The sales of residential property were already down 2.1 per cent to 8.1 trillion yuan in the first seven months of this year, before financing for developers was further tightened last week.“It is very clear that strictly limiting the money flowing into…

Source : South China Morning Post
Read more…China residential property sector a ‘slow growth market’ now, as sales and profits decline, Beijing steps up cooling measures

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