Category Archives: Asia-Pacific Market

PODCAST: What’s Happening In Australia’s Housing And RMBS Markets

Investors in Australian RMBS continue to benefit from the strong credit performance of the underlying residential mortgage portfolios. Tune in as Melbourne-based analyst Erin Kitson provides an update on the Australian residential housing market and RMBS issuance activity. Click here to listen or download.

At Last, Some Good Signs Emerge For China’s Property Developers

The outlook is looking a tad brighter for China’s real estate developers. That’s a key finding from Standard & Poor’s Ratings Services’ latest review of the sector titled “Top 10 Investor Questions: Chinese Real Estate Developers”. According to the report, signs of stabilization are emerging for the sector, which has been battling tricky market conditions […]

Singapore REITs Can Withstand Weaker Rental Outlook And Modest Decline In Valuations

Standard & Poor’s Ratings Services puts the spotlight on Singapore’s real estate investment trusts (REITs) in this commentary titled “CreditFAQ: Why Singapore REITs Can Survive Their Financial Fitness Test.” Like REITs elsewhere around the globe, the report notes that Singapore REITs, or S-REITs, face a series of possible headwinds. These include declines in rent and […]

Housing Boom or Bust in China

Recent news reports suggest that China’s economy is experiencing slower growth, around 8% vs 10% in recent past.   Chinese economic policy is shifting towards stimulus despite some comments that inflation is creeping upward. Against this background questions about housing prices are being heard. Based on anecdotal comments heard “on the ground” during a recent visit […]

For China’s 80,000+ Property Developers, 2012 Is Shaping Up As ‘Survival Of The Fittest’

Chinese property developers are in the doldrums: sales are slowing amid high inventory, borrowing costs and refinancing risks are rising, and intensifying competition may lead to a price war. These are just a few of the findings in Standard & Poor’s Ratings Services’ latest report on the sector, “The Credit Overhang: Chinese Developers With Large […]

Australian Household Debt To Income Reaches Sensitive Level

Australia’s mortgage performance is likely to remain stable in 2012, despite signs that household debt to income has reached sensitive levels amid declining property prices. That’s one of the key take-away messages from a market briefing hosted by Standard & Poor’s Ratings Services in Melbourne on March 27, 2012. The briefing also heard from Standard […]

Australian House Prices May Fall By More Than 5% If China Has A Soft Landing

A slowdown in China’s economic growth could have serious implications for the housing market in Australia. Standard & Poor’s expects China to experience a soft landing in 2012, with forecast GDP growth of 8%. Based on this scenario, we expect the Australian economy to continue its moderate growth path and that the performance of the […]

Dark Clouds Remain For Asia Property Developers, Particularly In China

The outlook for Asian property developers, particularly in China, remains bleak. Standard & Poor’s latest report on the sector “Worst Is Yet To Come For Chinese Developers In Asia’s Shaky Property Sector” notes that Asian property markets remain under strain to varying degrees due to macroeconomic and industry-specific factors. Chinese developers face the harshest conditions, […]

Asia-Pacific REITs stand in good stead to face shaky conditions

Asia-Pacific rated real estate investment trusts and real estate operating companies (collectively ‘REITs’) have toughened up in the aftermath of the global financial crisis. They have repaired their balance sheets, adopted more conservative financial profiles, and diversified their funding sources. However, contagion from Europe could unleash more anxiety to already jittery credit markets in Asia […]

Is The Worst Over For China’s Real Estate Developers?

In short, Standard & Poor’s Ratings Services thinks the answer is no. Indeed, we believe the industry is bracing for slower sales and lower property prices, thanks largely to the ongoing rollout of government regulations and credit-tightening measures. Making matters worse, we expect credit conditions to become increasingly severe for property developers. That would increase […]

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