China s commercial real estate market is expected to attract bargain hunters after prices fell by about 30% from their pre-Covid high, says Colliers International Group.
The market for Chinese developers dollar-denominated bonds has seen a meltdown over the past two years, losing 87% of its value. The rout has wiped out USD135.5 billion of value from USD154.9 billion of outstanding notes, as per Debtwire. This has sparked calls for a fresh approach to stimulating the property market including government-funded construction of affordable housing.
China s realty sector, which contributes 25%-30% to the countrys GDP, is in crisis. The government is cracking down on overleveraged developers and the cleansing will be painful. As India stands at the cusp of a multi-year real-estate boom , it looks better equipped. Can India, wiser from the collapse of developers like Jaypee and Unitech, avoid the pitfalls?