China Property Crisis Could Be Devastating to Economy: Analyst

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Even China’s population of 1.4 billion would not be enough to fill all the empty apartments littered across the country, a former official said on Saturday, in a rare public critique of the country’s crisis-hit property market.

China’s property sector, once the pillar of the economy, has slumped since 2021 when real estate giant China Evergrande Group defaulted on its debt obligations following a clampdown on new borrowing.

Big-name developers such as Country Garden Holdings continue to teeter close to default even to this day, keeping home-buyer sentiment depressed.

China analyst Antonio Graceffo gives his take on China’s property crisis.

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Source
Las Vegas News Magazine

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