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China Insights

Homebuyers’ remorse – mortgage boycott
17 August 2022
    Download the full reportPDF, 2.43MB

    China Insights

    • Over the past month, homebuyers of various pre-sold residential projects have collectively stopped making mortgage payments in protest of delays and stalling in the constructions of those projects by developers
    • A recent Fitch report estimates that the affected mortgage loans as of now account for only 0.01 per cent of all outstanding residential mortgage loans, bringing the scale of the problem into context
    • The government has shown signs that it is willing to help, but any fiscal measures would likely be done in a manner that is consistent with the overarching government mantra that ‘houses are places of residence, not vehicles for speculation’