FEATURE: China’s property developers in deep water
Feb 21, 2020 11:30
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China’s 81 property enterprises have filed for bankruptcy since the start of 2020, according to the official data from the People’s Court Announcement, as their promotional efforts including discounts have been futile in selling off their housing stocks so far when people dare not even step out of the door most of the time since the nationwide outbreak of Novel Coronavirus Pneumonia (NCP) in latest January.
Virus outbreak forces developers to sell online with big discounts
The epidemic has cleared the streets in many cities including Beijing, which has forced many property developers in China to go online for sales instead of the traditional show-house and face-to-face consultation sales practice, and 143 of China’s top 200 property