He Lifeng stressed the need to ‘carry on the battle’ to surmount the risks that unfinished and unconstructed homes represent, as the health of the property market is tied closely to social wellness and economic development.
A High Court in Hong Kong has adjourned the hearing on a winding-up petition against Country Garden to June 11, giving the developer more time to reorganise its finances as Beijing steps up efforts to revive the housing market.
Even in the absence of the buying restrictions, a healthy supply and elevated interest rates mean the city’s infamously expensive house prices are unlikely to return to the kind of breakneck growth seen in the past, analysts say.