{"id":23541,"date":"2020-02-08T13:13:03","date_gmt":"2020-02-08T00:13:03","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=23541"},"modified":"2020-02-08T13:13:15","modified_gmt":"2020-02-08T00:13:15","slug":"coronavirus-threatens-to-tip-china-property-into-downturn","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/coronavirus-threatens-to-tip-china-property-into-downturn\/","title":{"rendered":"Coronavirus threatens to tip China property into downturn"},"content":{"rendered":"\n

PHOTO: People wearing face masks walk along a deserted street in Wuhan, the centre of the coronavirus outbreak \u00a9 AP <\/strong> <\/p>\n\n\n\n

The coronavirus outbreak has dealt a painful blow to China\u2019s $43tn property market as developers close sales centres and potential homebuyers delay the search for new flats. The impact of the crisis on China\u2019s property market, which some estimate contributes one quarter of gross domestic product, is threatening to drive down the country\u2019s economic growth to 4 per cent in the first quarter, according to several analysts. That compares with a rate of 6.1 per cent in 2019 and would bring growth close to the full-year low of 3.9 per cent experienced in 1990, in the wake of the Tiananmen Square massacre. \u201cPeople with money are scared to death and don\u2019t dare run around outside,\u201d said Tina Yu, a Beijing-based real estate agent. \u201cNo one is going to work. The real estate developments are all locked up\u2009.\u2009.\u2009.\u2009the impact will certainly be big.\u201d <\/p>\n\n\n\n

READ MORE VIA FT<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PHOTO: People wearing face masks walk along a deserted streetRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":23542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478108681,478098726,478099690,478099700,478098695,478108580],"class_list":["entry","author-data123nz","post-23541","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-china-property","tag-chinese-buyers","tag-chinese-developers","tag-chinese-investors","tag-chinese-property-investors","tag-coronavirus"],"yoast_head":"\nCoronavirus threatens to tip China property into downturn - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/coronavirus-threatens-to-tip-china-property-into-downturn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coronavirus threatens to tip China property into downturn - 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