Effects of China’s policy to support real estate not obvious, home sales fell again in July – Greentown Management chairman
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Effects of China’s policy to support real estate not obvious, home sales fell again in July – Greentown Management chairman
STOCKS

Effects of China’s policy to support real estate not obvious, home sales fell again in July – Greentown Management chairman

 

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Although the Chinese government has introduced a series of policy measures to address property developers’ difficulties and support the sector’s development, the effect of the policies is not obvious and there is a lack of confidence among potential homebuyers, said Guo Jiafeng, chairman of Greentown Management Holdings, said on Thursday.

Home sales picked in June, but declined again in June, and the real estate market is currently in a L-sharp trend, with the lengthen of the horizontal side of the L-shape will depend on China’s macro economic situation, he said, adding that the chance for further decline in the housing market is not big.

Regarding market concerns that more developers will default in the second half of the year due to a large amount of debt maturities, Guo said that “the possibility is low.”

Greentown Management is the subsidiary of property developer Greentown China Holdings Ltd, delivering the “Greentown” brand value and management expertise.