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China's Private Builders Face $553 Billion Gap to Complete Homes.

Authors :
Chen, Lulu Yilun
Hancock, Tom
Source :
Bloomberg.com; 4/14/2024, pN.PAG-N.PAG, 1p
Publication Year :
2024

Abstract

Chinese private developers are facing a funding gap of 4 trillion yuan ($553 billion) to complete pre-sold homes, according to a research report by Goldman Sachs. The credit support from banks is insufficient to secure home completions, and the impact of property easing measures from last year is fading in the new homes market. The government needs to improve developer funding conditions and bring housing demand to normal levels, as well as mitigate a contraction in real estate construction. China is still dealing with an oversupply of housing, particularly in smaller cities, and plans to increase the share of public housing to at least 30% of the nation's total housing stock. [Extracted from the article]

Details

Language :
English
Database :
Complementary Index
Journal :
Bloomberg.com
Publication Type :
Periodical
Accession number :
176579869