16.06.2011 - China developers’ outlook lowered to ‘negative’ by S&P as credit tightens
Chinese developers’ outlook was cut to “negative” from “stable” by Standard & Poor’s, which said tighter credit and further government curbs may lead to rating downgrades in the next year. Property sales may start to slow as the government’s policy “starts to bite,” leading to price cuts that may drive home prices 10 percent lower in the next 12 months, the credit rating company said. Hong Kong’s real estate market faces the risk of a “sharp correction,” S&P also said..............................................Full Article: Source
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