Salient to Investors:
- Centaline said a wait-and-see attitude is still prevalent among homebuyers
- Donald Yu at Guotai Junan Securities said there is still room for prices to go down further as the policy easing only increased the number of people qualified to buy, not the number of those able to as mortgages remain tight.
- Alvin Wong et al Barclays expect most developers to accelerate sales to strike for a more secure cash position amid the market uncertainties – more attractive price discounts seem necessary to compensate for the expensive mortgage rate.
- Peter Churchouse at Asia Hard Assets Report said the government’s cooling measures have actually worked so they now take the foot off the brake, and we will see a bottoming of this cycle in the next 2 to 3 months.
Read the full article at http://www.bloomberg.com/news/2014-09-18/china-home-price-drop-spreads-to-more-cities-as-demand-weak.html
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