Hitting home

8 February 2019 By Christopher Beddor

Evergrande and other developers are tapping pricey offshore markets to refinance $98 bln of debt maturing this year. Sales are slow, but prices are still rising fast enough for comfort. Things will look even better if officials ease curbs as part of an economic stimulus package.

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Property investment in China rose 8.2 percent year-on-year in December, down from 9.3 percent growth the previous month, according to a Reuters calculation of National Bureau of Statistics data released on Jan. 21. Property sales by area rose 1.3 percent for the full year 2018 from a year earlier.

New home prices rose 9.7 percent year-on-year in December, based on a Reuters calculation of official statistics released on Jan. 16. It marked the 44th consecutive month of price increases.

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