Submitted by Mark Budden, EC Harris, Area Leader, North Asia
Based on recent announcements released by the Chinese Government, 970 million sqm of residential units were sold in 2011, while 1.4 billion sqm of residential projects are currently under construction in China. This shows a significant surplus of residential units in the coming year. Due to these surplus, developers face increasing pressure to attract buyers.
Developers are also feeling the heat as the China Banking Regulatory Committee has mandated five years for the collection... Read More