Property Market Chartbook, July 2020

New starts and overall sales improved in June, along with real estate investment. But signs of financial stress within the property sector are building, as average sales prices for listed developers are falling, and developers have started to default on corporate bonds in larger numbers. Policy toward the property sector remains restrictive toward investment-oriented purchases, with Shenzhen recently announcing new tightening steps. The outlook is darkening for property sales in the second half of the year.

Posted July 23, 2020
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