China - Housing 06 (Nov 21 - Dec 26)

[winston]

Chinese borrowers default in record numbers as economic crisis deepens

More than 8mn people are blacklisted by authorities after missed payments on mortgages and business loans

Source: FT

https://www.ft.com/content/f144f763-873 ... hoo/auddev

[behappyalways]

"In Aug this yr, property platform Beike apologised to the govt after publishing a report suggesting 12% of completed residential apartments in #China’s 28 major cities were unoccupied...The platform has since been banned from publishing historical transaction prices"
https://twitter.com/ChinaBeigeBook/stat ... 6737320083

[winston]

Prices of homes in China keep edging up

Prices of new homes in China rose for the fourth consecutive month in December, a private survey showed yesterday, buoyed by a slew of government support measures.

Prices rose 0.1 percent on average after a rise of 0.05 percent in November.

Authorities have announced several measures to try to revive the housing market.

In November, Beijing and Shanghai relaxed home purchase restrictions, including lowering the minimum deposit ratio for purchases of first and second homes.

Despite policy changes, the market remains sluggish, with sales plunging 20 out of the past 24 months. Buyers remain on the sidelines, spooked by price drops, construction delays, and company defaults.

The value of new home sales among the 100 biggest developers fell 34.6 percent from a year earlier to 451.3 billion yuan, compared with a 29.6 percent decline in November.

That puts major developers' full-year sales 16.5 percent lower than in 2022, worse than the institution's earlier estimate of a 15 percent drop.

Source: AP

https://www.thestandard.com.hk/section- ... -edging-up

[winston]

China foreclosures up by a third

The number of foreclosed homes in China jumped by over one-third to more than 700,000 in the first 11 months of last year from the year.

Source: Reuters

https://www.thestandard.com.hk/section- ... by-a-third

[behappyalways]

China’s Ping An Bank names 41 developers in funding support list
https://www.theedgesingapore.com/news/c ... pport-list

[winston]

China home prices see biggest drop in nine years

China's new home prices fell faster at 0.4 percent last month, the largest monthly drop in nine years despite a series of policies to stabilize the market.

Developers' investment dived 9.6 percent yearly last year. It fell year-on-year at the fastest clip since at least 2000.

Property sales measured by floor area fell 23 percent in December from a year earlier.

For the home resale market, prices among 70 cities all fell year-on-year for the seventh straight month in tier-one, tier-two and tier-three cities.

Source: Reuters

https://www.thestandard.com.hk/section- ... nine-years

[behappyalways]

Land monthly housing prices fell the most in the past nine years.
Mo Bin: This year may be even worse!
Tokyo is also in a downturn, with the commercial vacancy rate breaking 6% for the 31st consecutive month

陸上月房價跌幅近9年最大 莫斌:今年恐更嚴峻! 東京也低迷 商辦空置率連31月破6%｜非凡財經新聞｜20240117

https://m.youtube.com/watch?v=aFIjYoJZdc4

[winston]

China home sales set to disappoint in January, could fall by up to 15 per cent in 2024, CGS-CIMB Securities says

Home sales in 30 major cities have dropped by 38 per cent in the first three weeks of this month, financial brokerage says

British bank Barclays says contraction in property sales could be wider after falling by 40 per cent year on year in the first half of January

by Yulu Ao

Source: SCMP

https://www.scmp.com/business/china-bus ... ities-says

[behappyalways]

Evergrande’s death knell rings!
Hong Kong court orders liquidation of “unfinished building” with 6 million victims

恒大喪鐘響!港法院下令清盤「爛尾樓」苦主6百萬｜方念華｜FOCUS全球新聞 20240129 @tvbsfocus

https://m.youtube.com/watch?v=IBB8Dk42YhA

[behappyalways]

*Contract sales of top 100 Chinese property developers slumped another 30%-40% yoy in January.
https://twitter.com/ChinaPropFocus/stat ... 1835010508