Property
Wang Jianlin has built up China’s largest real estate companies. Now he warns that the chinese eiendomssektoren is the biggest bubble in history.
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Wang Jianlin compete with Alibabas founder Jack Ma to be on the top of the list of China’s richest – both with a net worth in excess of $ 30 billion. Wang Jianlin is a very outspoken, and have set their hearts on Hollywood and crush Disney in China.
The last 20 years, Wang Jianlin built Dalian Wanda Group to become China’s largest eiendomskonsern. It began with shopping before this was extended to cinemas and hotels. The last few years have efforts been shifted towards lifestyle and entertainment.
the Goal is to become the world’s largest livsstilselskap – a position that Disney has now with filmstudioer, tv channels, theme parks and cruise ships. Dalian Wanda will shortly open the world’s largest and most modern studio in China. They owns the world’s largest kinokjede.
most of these surpluses still comes from eiendomssektoren – mainly shopping centres. Chief Wang Jianlin comes with warnings in a new interview.
– Eiendomssektoren is the biggest bubble in history, ” he says to CNN.
Great hidden loans
property prices increase again in the 70 largest cities, after having fallen last year. In Shanghai, Shenzhen and Beijing increased the prices by between 20 and 40 per cent in august compared with last year.
– I see no good solution to this problem. The government has tried to come up with all possible measures, including to restrict the supply of loans, but it has not worked, ” he says.
The chinese banking sector is nedsyltet in hidden non-performing loans, among other things, granted to real estate developers and home buyers. Kredittvurderingsselskapet Fitch writes in a new report that non-performing loans can be 10 times higher than the official estimates – up to 21 per cent of total lending.
The international monetary fund (IMF) warned that a “disorderly gjeldsnedbygging” in the chinese economy may lead to the infection of the world’s economy. The IMF does not exclude a hard economic landing for the chinese economy.
the Problem is that the chinese economy has not reached bottom. If there is a rapid reduction of debt, will the economy suffer more. We have to wait until the economy is back on track before it gradually made a gjeldsreduksjon, ” says Wang Jianlin.
Capital Economics estimate that it is provided around 30000 billion in direct loans to the chinese eiendomssektoren.
Although we often underestimate the government’s ability to rescue the banking sector does not mean that we should ignore the credit risk. Chinese households is not so gjeldsbelastede. We are more concerned about the companies ‘debt burden,” says analyseselskapets China economist Julian Evans-Pritchard of the BBC.
double-checked the price
In the largest chinese cities, there is still high demand for housing. Other locations are entire housing developments empty as ghost towns.
last week, it was sold “flats” in between the 5.7 and 7.5 square meters in Shenzhen for over a million dollars apiece, according to Guangzhou Daily.
Toilet and kitchen are next to each other. This provides a kvadratmeterpris on 170.000 million.
An analysis from the analyseselskapet Longview Economics draws parallels to tulipankrakket in the Netherlands in the 1630′s, where prices reached extraordinary heights before they fell. At the most, there was some tulipanløker sold for the tidobbelte of an annual salary to skilled workers.
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