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China’s property sector sees more competition
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REAL estate developers in China are facing increasing competition this year as large players strive to capture further market shares amid the ongoing regulatory controls and likely slowdown in sales growth, Moody's Investors Service said in a report released today.
Rein-in measures in cities where property prices are rising rapidly will remain tight or become even tighter in 2017, whereas policies in lower-tier cities where inventory is high will remain accommodative, according to Moody's.
Moody's conclusion came after central government's latest reiteration during the National People's Congress that it would strengthen the execution of its differentiated policies in the country's property sector, and fine-tune measures in cities where property prices are rising rapidly.
The latest round of restrictive measures introduced since late September 2016 has moderated property price growth in high-tier cities in recent months. However, the effects of policies targeted at clearing inventory in low-tier cities with high inventory levels will be mixed because some low-tier cities will continue to show weaker economic fundamentals and net population outflows, according to Moody's forecast.
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