Property News · September 2, 2020

Chinese developers face potential price war in second half amid glut as state issues ‘red lines’ in deleveraging campaign


China’s biggest developers are likely to step up price discounting this year to clear a growing pile of unsold homes, with authorities sounding another alarm in their deleveraging campaign to pre-empt any financial shock to the economy.Completed but unsold homes amounted to 480 million square metres (5.16 billion square feet) across 100 mainland cities at the end of July, according to data compiled by E-house China Research and Development Institute. That’s a 7 per cent increase from a year…

Source : South China Morning Post
Read more…Chinese developers face potential price war in second half amid glut as state issues ‘red lines’ in deleveraging campaign

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