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No big rebound seen in China housing sales, Fitch says
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NO significant rebound in housing sales is expected in China next year with homebuilding sector remaining stable, Fitch Ratings said in a report released over the weekend.
Nationwide home sales may change by between a loss of 5 percent and a gain of 5 percent in 2015, according to Fitch forecast.
Housing sales in 2014, meanwhile, are predicted to fall by around 10 percent, not enough to reduce housing supply across the country meaningfully. Consolidation and restructuring, therefore, will continue in the next 12 months, with smaller and weaker developers being forced out, Fitch said.
In terms of housing price, appreciation will be limited, the ratings agency said. Most developers will focus on fast asset turnover rather than preserving margins so as to maintain business scale and sufficient liquidity to sustain their credit profiles, according to Fitch.
The ratings firm also expects onshore funding conditions to become more favorable for developers next year, which will benefit smaller industry players in particular. The authorities may relax restrictions on developers' onshore equity financing, such as new share placements, Fitch said.
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