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S&P sees stable signs emerging in China's property
By Cherry Cao |
August 14, 2012, Tuesday
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Print Edition
Print Edition
SOME stable signs are beginning to appear in China's property sector as operating and credit conditions have improved in recent months, according to a report released yesterday by Standard & Poor's Ratings Services.
S&P also predicted that the drop in property prices over the next six months should be less than 5 percent.
"Tough times still lie ahead for many industry players, particularly in the residential market, but we're seeing some bright spots," said Fu Bei, a credit analyst with S&P. "Buyers are returning to the market after staying on the sidelines for much of 2011 onwards and liquidity has improved for some companies."
But S&P still maintains a negative outlook for the sector.
"Property sales may be stabilizing, but lower prices will translate into weaker profitability for all developers over the next one to two years," Fu said. "Credit ratios for most developers will deteriorate in 2012 and 2013 as sales have been weakened by lower margins for the past 12 months."
S&P also predicted that the drop in property prices over the next six months should be less than 5 percent.
"Tough times still lie ahead for many industry players, particularly in the residential market, but we're seeing some bright spots," said Fu Bei, a credit analyst with S&P. "Buyers are returning to the market after staying on the sidelines for much of 2011 onwards and liquidity has improved for some companies."
But S&P still maintains a negative outlook for the sector.
"Property sales may be stabilizing, but lower prices will translate into weaker profitability for all developers over the next one to two years," Fu said. "Credit ratios for most developers will deteriorate in 2012 and 2013 as sales have been weakened by lower margins for the past 12 months."
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