China's Kaisa Faces Increased Losses Due to Sluggish Property Deliveries
China's Kaisa Faces Financial Challenges
China's Kaisa is grappling with a forecasted increase in net losses for the first half of the year, significantly influenced by sluggish property deliveries. This development showcases the broader issues plaguing the real estate sector, a critical component of the country's economy.
Ongoing Market Declines
Despite the government's efforts to stabilize the market, the housing sales have experienced a steep decline. In 2023, housing sales fell by 6.5% compared to the previous year and plummeted 35.9% from the peak levels seen in 2021.
Impact on Developers
The slower property deliveries are further intensifying Kaisa's financial woes, reinforcing concerns about the sustainability of many property developers facing similar challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.