HONG KONG -- China's big property developers appear to face a long slump ahead, with credit rating agency S&P Global Ratings predicting a further slide in housing prices during the coming year amid tight credit and a slowing economy.
As sales in lower-tier cities lose steam, S&P forecasts a decrease of up to 5% in home prices for 2019 as well as declines of 3% to 7% in residential property transaction volume, according to a report issued on Wednesday.
