China’s Private Builders Face $553 Billion Gap to Complete Homes
- Housing sector not at bottom of ‘L-shaped’ path yet: Goldman
- Impact of property easing measures from last year is fading
As China’s real estate crisis continues, the impact of property easing measures from last year are fading in the new homes market.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese private developers face a 4 trillion yuan ($553 billion) funding gap to complete pre-sold homes, adding to the woes of an industry that has yet to bottom out, according to a research report by Goldman Sachs Group Inc.
Credit support from banks — which totaled 469 billion yuan as of the end of March — “appears well below the amount needed for securing home completions,” analysts led by Lisheng Wang wrote in a report released Sunday.