ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
China debt crunch

China property developer sales 'falling off a cliff'

Rating agencies flag governance, transparency as liquidity dries up

China's debt-hit property developers are struggling to sell homes in a sluggish market.   © Reuters

HONG KONG -- Yango Group needed only a few words to sum up the crisis facing China's ailing property developers: "falling off a cliff."

That was the company's grim assessment of its prospects in a sluggish real estate sector, as the midsize developer warned that January contracted sales fell nearly 52% to 6.71 billion yuan ($1.06 billion), adding to the pain of a 15.7% year-on-year drop in 2021.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more