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16 Apr China’s home prices fall for 10th straight month in fresh alarm for stronger policy response, revival plans

Posted at 05:28h in Asia

China’s home prices in the primary market fell for a 10th consecutive month in March, showing the government’s measures to support the nation’s struggling developers and lift consumer confidence are not sufficient to arrest the slump.Prices of new homes in 70 medium and large cities...

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14 Apr China property: ‘iPhone City’ gets a consumption upgrade incentive with trade-in scheme to revive woeful housing market

Posted at 03:30h in Asia

China is encouraging more property owners to swap their old homes for new ones as a way to rejuvenate the market, with a local government in central Henan province joining at least 30 other mainland cities in embracing the “trade-in” programme.Authorities in the provincial capital...

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12 Apr Indebted Chinese developer Zhenro asks to delay restructuring amid ‘strained’ conditions, Ping An unit’s lawsuit threat

Posted at 05:11h in Asia

Defaulted Chinese developer Zhenro Properties Group is seeking to postpone a restructuring plan as its liquidity woes continue amid slumping sales, slow asset disposal and the threat of a lawsuit from Ping An Insurance Group over a property-linked trust.Zhenro plans to delay the implementation of...

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14 Mar Hangzhou, home to Alibaba and Geely, turns market-friendly by scrapping more barriers to revive home sales

Posted at 09:02h in Asia

The local government in Hangzhou, the capital of eastern Zhejiang province, has taken another drastic move to ease home-purchase restrictions in the city, after an effort last year failed to rejuvenate the housing market.The city, home to China’s tech leaders including e-commerce platform operator Alibaba...

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05 Mar China Vanke pledges to repay offshore debts due soon as it seeks calm amid liquidity crisis rumours

Posted at 09:30h in Asia

China Vanke, the country’s second-largest property developer, has pledged to repay its outstanding offshore debts that are coming due soon, as its shares and bonds tumbled amid rumours about liquidity distress.The company has prepared all the funds needed for the repayment of a US$630 million...

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22 Jan China home sales set to disappoint in January, could fall by up to 15 per cent in 2024, CGS-CIMB Securities says

Posted at 23:30h in Asia

Home sales in 30 major cities tracked by Chinese financial data provider Wind have dropped by 38 per cent month on month and 10 per cent year on year in the first three weeks of this month, according to analysis by financial brokerage CGS-CIMB Securities.In...

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02 Jan China’s home developers suffer further sales skid to end miserable 2023, as 2024 offers slim hope amid depressed demand

Posted at 00:00h in Asia

The beginning of a new year means joy and hope for many people, but not for big Chinese developers at the dawn of 2024, after a downward trend in home sales accelerated in December as discounts and easing measures failed to spark demand.China’s top 100...

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31 Dec China property: ordinary buyers eye foreclosed homes at heavy discounts as investors retreat from market

Posted at 02:00h in Asia

Huang is one of a growing number of ordinary homebuyers – individuals or families looking to occupy their house rather than own it as an investor – in mainland China taking an interest in properties that have been repossessed by banks.Regular Chinese home seekers, attracted...

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