Communist China’s Real-estate Tumbling, Owner Health Code Turned Red to Not Make Trouble

This year, from January to May in Communist China, investment in real-estate development fell by 4%, a 1.3% more fell compared with January to April. The area of newly developed housing fell by 30.6% year-on-year, and the decline expanded by 4.3%. The sold area and sales of commercial housing decreased by 23.6% and 31.5% respectively, and the decline rate expanded by 2.7% and 2% respectively. The funds in place for real-estate development enterprises fell by 25.8% year-on-year, and the decline expanded by 2.2%.

The real-estate development prosperity index also fell from 95.88% in April to 95.6% in May, which stayed at a low level for five consecutive months. Real-estate companies are also facing the second round of debt repayment peaks this year. According to statistics from the CRIC Real Estate Research Center, from June to July, about 175.5 billion Yuan of domestic and overseas debts for 200 prominent real estate companies will mature, which accounts for about 61% of the due amount in the second half of the year. Among them, domestic debt maturities accounts for more than 50%. Moreover, the pressure on debt repayment of private housing enterprises is even higher. Debt maturing in the past two months is about 117.8 billion Yuan, accounting for 67% of the total. At the same time, due to persistently weak sales and financing difficulties, the data shows that the liquidity of housing companies still have no turning point.

Picture of Aussie Brief News

Aussie Brief News

Go to First Page and Get the Latest News.

Translator: OXV Translation Team-Kyan
Design&editor: HBamboo(昆仑竹)

Leave a Reply

Your email address will not be published. Required fields are marked *