Stay updated with breaking news from Beike Research. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
MARKET WRAPS Watch For: No major economic data expected; trading updates from Barclays, Carrefour, Air Liquide, InterContinental Hotels Group, Antofagasta, Fresenius Medical Care ...
The country’s prolonged real estate slump has exposed cracks in cities such as Nanchang, where years of non-stop building have created too much supply.
Now those skyscrapers are evidence of something very different: China’s real estate market in crisis, reeling after years of overbuilding.
Nanchang’s skyscrapers represented urban transformation, but the city added apartments faster than its population grew. The result: vacant homes and offices.
The real estate recovery, though still mild, is likely to become substantial on the back of policy incentives and higher sales later this year, officials and experts said on Tuesday after digesting the latest industry data released by the National Bureau of Statistics.