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<CN Home>Fitch Ratings: CN New Home Mkt Further Weakens in 4Q; 11M25 Sales & Home Prices Below Forecasts
Recommend 2 Positive 1 Negative 6 |
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China's new home market weakened further in 4Q25, with 11M25 sales down 11.2% YoY, GFA sold decreasing 8.1%, and average selling price falling 3.3%, worse than Fitch's full-year forecasts for declines of 7% in sales, 5% in GFA and 2% in average selling price, Fitch Ratings said. Fitch attributed the market weakness to China's sluggish economy, labor market pressure, and expectations of further price cuts; policy support has offered only temporary relief. During this quarter, Fitch revised the Outlooks on the 'BBB-' ratings of CHINA JINMAO (00817.HK) and Beijing Capital Development Holding (Group) from Negative to Stable, reflecting outperformance in sales and increased clarity around a business transition, respectively. Due to repayment risks associated with CHINA VANKE (02202.HK)'s medium-term notes, Fitch downgraded its Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'RD'. AASTOCKS Financial News Website: www.aastocks.com |
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