Property News · December 23, 2018

Chinese state bank chief warns against buying property now ‘because there’s no money to be made’


The chairman of a leading Chinese state bank on Sunday warned Chinese investors not to buy property now because “there’s no money to be made” due to high prices and alarming vacancy rates.
Tian Guoli, the chairman of China Construction Bank, which provides mortgage loans to millions of Chinese households, said that the room for further property price rises was limited and it was unwise to buy at current rates, according to the portal Sina.com.
“There’s no money to…

Source : South China Morning Post
Read more…Chinese state bank chief warns against buying property now ‘because there’s no money to be made’

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