Every time I look at the Chinese Property Sector, I get a sinking feeling, and a complete contradiction of statements on what is really going on – to the point where it is really hard to know where truth lays.
One report says State-owned developers in China are accelerating plans to tap debt markets in a further sign of easing for the embattled real estate sector, while Beijing takes steps to set up a multi-billion dollar stability fund for the financial industry.
Yet, China’s home sales slump deepened in March, keeping pressure on cash-strapped developers even as policy makers vow to support the property market.
The 100 biggest companies in China’s debt-ridden property industry saw a 53% drop in sales from a year earlier, according to preliminary data from China Real Estate Information Corp. That’s the steepest decline this year.
And one of the biggest developers, said China’s housing market reached a peak last year.
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