Talks to sell a controlling stake in Evergrande Property Services have collapsed after liquidators of its bankrupt parent, China Evergrande Group, failed to reach a formal agreement with a prospective buyer, reports Caixin. The property-management firm announced the termination of negotiations midday Thursday, sending its Hong Kong-listed shares down 23.5% to close at HK$0.78 ($0.1). The […]
Category: Property
In a move to bolster the stability of the property market, Shanghai city has unveiled a plan to buy second-hand homes for use as public rental housing, reports the South China Morning Post. The move aims to bolster stability in the property market and is timed to coincide with the opening of the city’s annual “two […]
The country’s top 100 developers reported combined contracted sales of RMB 165.5 billion (US$24 billion) in January, down 27% from a year earlier, reports the South China Morning Post, citing data released over the weekend by China Real Estate Information Corporation (CRIC). Stress was particularly acute among offshore borrowers. The combined contracted sales of 18 major […]
China Vanke warned that its net loss for 2025 widened 65.7% year-on-year to approximately RMB 82 billion ($11.8 billion), reports Caixin. The deepening red ink at the state-backed giant underscores the severity of China’s property crisis, which has left Vanke with an estimated RMB 131.5 billion in losses over the past two years. The acceleration of […]
The new year has begun with renewed talk from Beijing of boosting consumption—that is, getting people to buy stuff—but all signs appear to be heading the other way. The latest news, for example, includes a continuation of the property sector slump with January sales figures from the 100 largest developers down 27% from a year […]