Leading today’s news, China’s most indebted developer says that the government is just fine with them borrowing even more. Also in the headlines, Hong Kong’s New World is getting more aggressive with its financing offers for new home buyers and… Read More>>
Shanghai Could Require 50% Downpayments and More Asia Real Estate Headlines
Home prices are hitting new records in Shanghai and the government seems to be unhappy. The result for homebuyers could be minimum 50 percent down-payment levels and the upshot for developers could be lower demand for housing. Plus, China’s biggest… Read More>>
Dalian Wanda Boosts HK Buyout Offer to $4.4B and More Greater China Real Estate Headlines
China’s richest man has upped his offer to buy back the Hong Kong-listed shares in Dalian Wanda Commercial property, plus Hong Kong home priced bounced back in April while credit agencies sound warnings over recent mainland site pricing and the… Read More>>
Glorious Property Misses Payments on $1.02B in Debt
Hong Kong-listed real estate developer Glorious Property could become the latest victim of China’s property crunch after the mainland builder disclosed last week that its revenues had dropped 85 percent this year and it had failed to make payments on… Read More>>
Property Stocks and Bonds Fall After Ningbo Developer Collapse
Share and bond prices for China’s leading property companies fell sharply today following reports that a Ningbo real estate developer had collapsed, leaving behind RMB 3.5 billion in debt and more than 100 unhappy creditors.
The folding of the developer,… Read More>>
Agencies Warn of China Developer Risks Amid Credit Scares
Slower sales and rising land prices will put stress on some of China’s real estate developers this year according to recent reports by credit agencies Standard & Poor’s and Moody’s.
The warnings from the ratings agencies happened in the same week that China saw its first default of a corporate bond as the country’s leaders attempt to wean businesses from their addiction to cheap credit.
Xinyuan Real Estate Follows Evergrande in Renegotiating Bond Terms
On 28th January, NYSE-listed Xinyuan Real Estate (XIN) became the second Chinese property developer this year to ask bondholders to allow renegotiation of the debt terms, apparently so that the companies can take on more leverage as credit dries up… Read More>>
Moody’s and S&P Predict 10% China Real Estate Price Drop, Possible Price War
Credit rating agencies Moody’s and S&P (who, for those of us with memories, are experts on economic disasters) see gloomy times ahead for China’s real estate developers. In recent reports from the two agencies both predict credit problems for China’s… Read More>>