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Developers in China 'have lost time but not money'
02 Jul 2009
Chen Jiqiang, general manager of investment bank to the real estate market Stanley & Partners, explained that despite price declines since the market peak in 2007, the value of land has risen again, reports China Stakes.
"Some companies bought land at very high prices, and housing prices went down soon after that. Then they fell asleep, and when they woke up, they found housing prices back up," he commented.
He asserted that the market is particularly strong at the moment and that those in the real estate sector in China are unlikely to lose money.
Mr Jiqiang said firms that survived the economic downturn are likely to have enough funds to make more money now the market has picked up again.
This comes after Rob Morrison, chairman of brokerage CLSA Asia-Pacific Markets, told Forbes that China was an "economic bright spot" during the global downturn.
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