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Moody’s-rated China property developers’ sales rise strongly

Moody’s-rated China property developers’ sales rise strongly

WEDNESDAY, November 29, 2017

Moody’s Investors Service says that sales for the Chinese developers that it rates grew strongly for the 10 months between January and October 2017, even though national sales growth slowed during the same period.

“We rate 55 Chinese developers and track the monthly contracted sales of 29 of these companies,” said Franco Leung, a Moody’s vice president and senior credit officer.
“For the 29, contracted sales rose 45.6 per cent for the 10 months to October 31, 2017 from the same period in 2016.
“By contrast, national contracted sales growth slowed to 9.6 per cent during the same 10 months from 11.4 per cent in the nine months between January and September 2017, because of the Chinese government's tightened regulatory measures on home sales.”
Moody’s analysis is contained in its just-released report titled “China Property Focus: Rated developers’ sales growth remained strong amid nationwide slowdown”.
Moody's report points out that property prices fell for the third consecutive month in October 2017 in Tier 1 cities, but growth was modest in lower-tier cities.