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Property sales slump 15% in July
By Cherry Cao |
August 29, 2012, Wednesday
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Print Edition
Print Edition
CHINA'S property sales will remain exposed to regulatory constraints in the next few months, given the central government's unwavering stance to maintain its restrictive measures to rein in property prices, Moody's Investors Service said yesterday.
In July, property sales in China fell 15 percent from June to 454 billion yuan (US$71.6 billion) after a strong rebound in the second quarter, and the weaker monthly sales were registered after the central government reaffirmed that control measures in the property sector would not be relaxed any time soon, the ratings firm said in a report.
In the first seven months, meanwhile, property sales by value dipped 1.1 percent.
Moody's also expected its Chinese Property Developers Liquidity Index, which showed a slight improvement in the liquidity position of rated developers compared with June and versus the peak in March, to hold at its current level in the near term. But, it said, low-rated developers will continue to be under pressure to sell their assets to service maturing debt and to preserve liquidity.
In July, property sales in China fell 15 percent from June to 454 billion yuan (US$71.6 billion) after a strong rebound in the second quarter, and the weaker monthly sales were registered after the central government reaffirmed that control measures in the property sector would not be relaxed any time soon, the ratings firm said in a report.
In the first seven months, meanwhile, property sales by value dipped 1.1 percent.
Moody's also expected its Chinese Property Developers Liquidity Index, which showed a slight improvement in the liquidity position of rated developers compared with June and versus the peak in March, to hold at its current level in the near term. But, it said, low-rated developers will continue to be under pressure to sell their assets to service maturing debt and to preserve liquidity.
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