Chinese property developers’ 2022 earnings are expected to hit five-year low, with sector’s core earnings sinking 57% from the previous year, according to estimates by Citi Research.Â
China’s top 100 property developers saw contracted sales decline 32.5% in January from a year earlier to 354.3 billion yuan, slumping 48.6% from the previous …
Chinese government policies aimed at stimulating property demand have been less effective than measures supporting property developers’ liquidity needs, rating agency Moody’s said in a report.
The average new home prices in China’s 100 major cities stood at 16,174 yuan per square meter in January, falling by 0.02% from the previous month, down for the 7th consecutive month.
China’s residential property sales by floor area are expected to decline by about 10% in 2023, with sales to drop about 20% in the first …
China’s real estate market remained sluggish across the year of 2022, with home sales sliding more than 20% to hit the lowest in six years and real estate investment posting the first annual drop on record.
China has formulated a comprehensive action plan to support the struggling real estate sector as Beijing steps up the effort to boost the country’s economic growth, the official Xinhua News Agency reported on Friday.
The 100 major Chinese property developers’s total financing reached 101.8 billion yuan in December, jumping above 100 billion yuan for the first time in 2022, according to the China Real Estate Information Corporation (CRIC).
In Hong Kong, Logan Group surging more than 10.9% as of 9:55 am local time, CIFI Holdings up 6.3%, Powerlong up 6.2%, KWG Group up …
Ni Hong, Minister of the Housing and Urban and Rural Development, said that he is confident that China’s real estate market will bottom out this year and vowed to take targeted measures to step up support for first-home purchases.
China will allow cities where home prices posted steep declines in three consecutive months to lower home mortgage rates, marking an extension of a temporary policy announced in September as the housing market remained sluggish.
Shares of Chinese property developers stage of strong rally amid improving market sentiment on real estate financing.
The People’s Bank of China’s branch in Guangzhou has recently guided financial institutions under its supervision to provide offshore financing to quality property developers backed by a domestic guarantee, involving over 2.8 billion yuan of funding.
China’s property transactions totaled about 13.3 trillion yuan in 2022, sliding 27% from a year earlier, and floor area sold reached about 1.36 billion square meters, falling 24% from the previous year.
Home prices in China’s 100 major cities declined for the sixth consecutive month in December, falling by 0.08% from a month ago after the 0.06% fall in November, according to a research.
China’s hi-tech manufacturing hub of Dongguan has removed home purchase restrictions across the entire city, joining several tier-2 cities in easing curbs to boost the struggling housing market.
An index tracking mainland-listed real estate developers, compiled by Wind Information, is trading more than 1% higher. Property developers based in Guangdong province are outperforming, with Shenzhen Zhenye surging by the daily limit of 10% and Shenzhen Special Economic Zone Real Estate and Properties up more than 7%.
Chinese distressed asset management companies (AMCs) have been accelerating the work to resolve the risks in the real estate sector since the start of this …
Chinese property developer stage a strong rally after the PBOC and the top securities regulator reiterated support to the sector. Ronshine China is jumping 20% as of 11:11 am local time in Hong Kong Logan Group up nearly 10%, CIFI Holdings up more than 6%.
Indebted property developer Sunac China has reached a financing agreement with China Orient Asset Management Co. Ltd, one of the country’s four state-owned national distressed asset managers, for a property project in Wuhan.
Embattled property developer China Evergrande Group has managed to get support of numerous construction companies and construction material suppliers to protect the lawful rights and interests of its home-buyers and creditors.
China’s mainstream mortgage rate for first-home buyers is 4.09% on average in December, unchanged from the previous month, remaining the lowest on record, according to a private research.
The city of Zhengzhou, capital of Central China’s Henan province, has raised 13 billion yuan to ensure property delivery, said the city’s vice mayor.
Shares of Chinese property developers see a sell-off on Tutesday, with an index tracking the sector compiled by Wind Information, closed down 3.2%, making it one of the worst-performing sectors in the A-share market.
“The real estate sector is one of China’s pillar industries and there can’t be big ups and downs,” said Liu Guoqiang, a vice governor of the PBOC, at a press conference on Saturday.
China has introduced some policies to support the real estate sector and is considering more measures, said Vice Premier Liu He at an event on Thursday.
Guangzhou R&F Properties said no security money has been provided for bail of its director Zhang Li.
The billionaire co-founder of Guangzhou R&F Properties Co Ltd is wanted in the US accused of paying kickbacks to obtain permits for a construction project in San Francisco, a court in London heard on Monday.
Chinese property developer CIFI Holdings said that it had invited potential bidders for its stake in the property management subsidiary CIFI Ever Sunshine Service Group and had started preliminary discussions on the bidding process.Â
