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Fitch: Shift to Tier 1, 2 Cities Pushes China Home Sales to New High in 2015
January 26, 2016 / 9:03 AM / 2 years ago

Fitch: Shift to Tier 1, 2 Cities Pushes China Home Sales to New High in 2015

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: China Property Watch - January 2016 here SHANGHAI, January 26 (Fitch) Fitch Ratings says in its latest China Property Watch that contracted sales in China's housing market hit a record high of CNY7.3trn in 2015, mainly driven by a greater share of GFA sold in Tier 1 and Tier 2 cities, where selling prices are higher. Total GFA sold, however, fell slightly short of the peak in 2013. Full-year GFA sold outpaced GFA started for the first time in 2015, driven by homebuilders' destocking and reduction in new-home construction. The majority of Fitch-rated Chinese homebuilders reported solid yoy growth in contracted sales for 2015. Chinese developers' onshore bond issuance rose tenfold in 2015, in contrast to the 50% fall in their offshore issuance. The full report "China Property Watch - January 2016" is available at www.fitchratings.com or by clicking the link in this media release. Contact: Shuncheng Zhang Associate Director +86 21 5097 3039 Fitch Ratings (Beijing) Ltd. Shanghai Branch 1015, 10/F, ifc Tower A, HSBC Building, 8 Century Avenue, Pudong, Shanghai 200120, China Ying Wang Senior Director +86 21 5097 3010 Su Aik Lim Senior Director + 852 2263 9914 Media Relations: Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com. Additional information is available on www.fitchratings.com ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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