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Moody's goes negative on property sector

By Emma Dai in Hong Kong ( China Daily ) Updated: 2014-05-22 06:53:24

Moody's Investors Service reported on Wednesday a "negative outlook" for the Chinese property sector over the next 12 months, citing a sales meltdown, rising inventories and tight liquidity.

The ratings agency forecast a "significant slowdown" of home sales for the period, which it said would be flat or at most up 5 percent in value terms year-on-year.

Inventory in eight cities - four first-tier and four second-tier - tracked by Moody's was about 14 months at the end of April, approaching the previous high of about 16 months in February 2012.

Moody's goes negative on property sector

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