Cranes are seen at a construction site for a residential development on the outskirts of Shanghai on March 14. More land is being made available in the hope of curbing price rises. Photo: Bloomberg Cranes are seen at a construction site for a residential development on the outskirts of Shanghai on March 14. More land is being made available in the hope of curbing price rises. Photo: Bloomberg
Cranes are seen at a construction site for a residential development on the outskirts of Shanghai on March 14. More land is being made available in the hope of curbing price rises. Photo: Bloomberg
Chaoping Zhu
Opinion

Opinion

Macroscope by Chaoping Zhu

What to expect as China’s residential property market seeks a soft landing

  • Worsening affordability measures and rising debt levels are signs of an inflating housing bubble. However, an immediate burst seems unlikely
  • City prices are likely to remain high and real estate an attractive long-term asset but bond defaults may rise as developers face cash flow stresses

Cranes are seen at a construction site for a residential development on the outskirts of Shanghai on March 14. More land is being made available in the hope of curbing price rises. Photo: Bloomberg Cranes are seen at a construction site for a residential development on the outskirts of Shanghai on March 14. More land is being made available in the hope of curbing price rises. Photo: Bloomberg
Cranes are seen at a construction site for a residential development on the outskirts of Shanghai on March 14. More land is being made available in the hope of curbing price rises. Photo: Bloomberg
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Chaoping Zhu

Chaoping Zhu

Chaoping Zhu is a Shanghai-based global market strategist at JP Morgan Asset Management. Prior to joining J.P. Morgan in 2017, Chaoping served as China economist at UOB Kay Hian. He also served as a research analyst at the Brookings Institution and Tudor Investment Corporation.