Property News · July 2, 2019

Chinese builders face a tough choice: sacrifice profit now to generate cash or wait for better times


Chinese developers are increasingly being forced to sell their new units at losses, or close to cost, in order to get buyers into their showrooms and generate cash, amid a clampdown on financing that forms part of the government’s campaign to pare back debt.The huge discounts involved have been drawing hoards of potential buyers, who have in turn shunned more expensive lived-in homes and new units that are charging market rates.Yanlord Riverbay, a project in downtown Chengdu by Singaporean…

Source : South China Morning Post
Read more…Chinese builders face a tough choice: sacrifice profit now to generate cash or wait for better times

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