Property News · October 23, 2018

Yujian Apartment failure sparks alarm bells for Chinese rental sector


The bankruptcy of a major Chinese rented-flat operator backed by Xiaomi founder Lei Jun has highlighted the inherent risk of the previously high-flying sector’s heavy reliance on debt-fuelled growth, according to analysts.
Hundreds of landlords have reported over the past week that they have not been paid October rents from Shanghai-based Yujian Apartment while many of the firm’s tenants say have been asked to leave their flats if they owe rent.
A local bank is also believed to have…

Source : South China Morning Post
Read more…Yujian Apartment failure sparks alarm bells for Chinese rental sector

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