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Indonesia Property: 2019 Outlook

Sector Outlook: 04 Dec 2018, 5:19 AM ET - We take a look at the key drivers that would shape the course of Indonesian property heading into 2019. We provide the credit outlook for Indonesian property for 2019 and the recommendations for the individual companies.

Foshan Trip Notes October 2018: Spillover Demand

Site Visits: 25 Nov 2018, 11:57 PM ET - Compared to the other Tier-1 cities we visited, the housing and credit policies in Foshan were far more relaxed.  It is no wonder that some non-natives in Guangzhou have chosen to buy homes in Foshan instead. 

Shenzhen Trip Notes October 2018: Too Expensive!

Site Visits: 21 Nov 2018, 5:01 AM ET - Shenzhen homes are extremely expensive.  The LTM Cost/Income multiple as of September 2018 was 43.2x (National average: 9.9x), indicating that new homes in Shenzhen are significantly less affordable than most places in China.

China Property Sector: PBOC’s Take On Sector

Sector Analysis: 09 Nov 2018, 3:12 AM ET - Is the China property sector risky in the eyes of the People's Bank of China ("PBOC")?

China Property Navigator 3Q18: Macros in Pictures

China Property Navigator: 12 Oct 2018, 4:04 AM ET - This report marks the end of our China Property Navigator 3Q18 series. Developers appear to be shifting their land bank expansion focus to out of China's top 40 cities.

China Property Navigator 3Q18: Bond Supply

China Property Navigator: 11 Oct 2018, 3:23 AM ET - This report is part 4 of our 5-part 3Q18 China Property Navigator. The domestic public corporate bond market seems to be re-opening quietly. Supply risk from the China property sector is also expected to moderate in 4Q18.

China Property Navigator 3Q18: Relative Ranking

China Property Navigator: 10 Oct 2018, 12:38 AM ET - This is the 3rd part of our 5-part 3Q18 China Property Navigator. We ranked the 13 Chinese developers under our full coverage and upgraded our recommendations on a number of bond issues.

China Property Navigator 3Q18: 1H18 Results Wrap

China Property Navigator: 09 Oct 2018, 3:54 AM ET - We summarize the LTM to 1H18 results of the Chinese developers under our coverage in this report and highlight broad trends in 1H18. This report is the 2nd part of a 5-part series.

China Property Navigator 3Q18: Housing Policies

China Property Navigator: 08 Oct 2018, 1:55 AM ET - Local governments continued fine-tuning existing housing policies for their respective cities in 3Q18. Tighter resale restrictions and HPRs were rolled out even at the county-level.

HK/SG Conference 2018: Indo vs. Chinese Developers

Transcript: 31 Jul 2018, 10:58 PM ET - Indonesian versus Chinese Developers: Where is the value?

China Property Navigator 2Q18: Liquidity Crunch?

China Property Navigator: 04 Jul 2018, 5:01 AM ET - Will Chinese developers face a liquidity crunch, on the back of rising average cost of debt and the recent NDRC rule on limiting offshore bond proceeds?

China Property Navigator 2Q18: Housing Policies

China Property Navigator: 03 Jul 2018, 6:18 AM ET - China maintained its restrictive policy stance in most cities. More tightening measures were imposed in lower Tier-2 cities while fine-tunings were made at the district level. 

China Property Navigator 1Q18: Macros in Pictures

China Property Navigator: 02 May 2018, 4:05 AM ET - The cost of land in Tier-1 cities is still rising, but housing restrictions have managed to keep Tier-1 home prices flat. Home prices are still rising in lower-tier cities which have less restrictive policies. 

China Property Navigator 1Q18: FY17 Rankings

China Property Navigator: 29 Apr 2018, 10:54 PM ET - This is the 4th part of our 5-part 1Q18 China Property Navigator. We rank the 13 developers we cover. Longfor Properties topped the charts again in our relative ranking approach, while Greentown was ranked last. 

China Property Navigator 1Q18: FY17 Results Wrap

China Property Navigator: 29 Apr 2018, 9:20 PM ET - The key FY17 credit metrics of the Chinese high yield developers under our full coverage improved year-on-year, in general. This is the third part of our 5-part 1Q18 China Property Navigator. 

China Property Navigator 1Q18: Bond Supply

China Property Navigator: 27 Apr 2018, 5:26 AM ET - This report is part 2 of our 5-part 1Q18 China Property Navigator. Total offshore and onshore bond supply from Chinese high yield developers exceeded the aggregated refinancing needs in 1Q18.

China Property Navigator 1Q18: Housing Policies

China Property Navigator: 26 Apr 2018, 3:42 AM ET - Tightening measures have spread to the cities in the North-eastern and South-western provinces. Many local governments started to build and regulate social housing(保障房), homes for talents(人才住房) and public rental housing(公租房).

US Strategy: Tariffs as Repricing Event?

Strategy Analysis: 01 Mar 2018, 9:40 PM ET - The market has been building in very low odds of a trade war event, a NAFTA withdrawal, or a significant escalation of tit-for-tat trade retaliations on a broader scale.  The odds-makers just got a fresh load of input.

CREDITSIGHTS WEBCAST: China Property

Worth Watching: 20 Feb 2018, 6:35 PM ET - CREDITSIGHTS WEBCAST Residential home prices in China have been kept steady by an onslaught of tightening policy measures across the country since September 2016. With cities such as Lanzhou relaxing some of its restrictive measures at the start o ..

China Property Navigator 4Q17: Bonds or Shares?

China Property Navigator: 30 Jan 2018, 2:28 AM ET - Many Chinese high yield developers rushed to the $-bond market as 2018 kicked off. Some developers also capitalised on the soaring share prices, and issued zero coupon convertible bonds and new share placements.

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