Monday, May 9, 2011

Value of Unsold Houses in China Rose 40%

China’s real-estate developers struggle with debt
Debt carried by the nation’s developers was 1.05 trillion yuan ($162 billion), the Xinhua News Agency reported on Monday, citing figures compiled by the Shanghai-based data provider, Wind Information.

The figures were based on the 113 mainland-listed developers and their first-quarter filings.

The value of unsold houses was up 40.2% to CNY903.5 billion, the Xinhua report said.

903.5 Billion CNY == 139 Billion USD


jesse said...

40% rise? Wow, with those valuations they should sell! 8)

GG said...

I should have used the term "total valuation" perhaps.