Institutions assess impact of distressed China property sales

On the face of it, sharply rising levels of distressed sales in China’s property sector should ring alarm bells. However, institutional investors and industry advisers have indicated that market conditions could be improving following high-profile defaults of major property companies in the country during 2021 and 2022. The proportion of China’s property sales categorised as distressed surged to $2.7 billion in Q1 2023, more than 10 times the $760 million level a year earlier, a…