What Happened to Real Estate in 2022?
CategoryNews Briefs
In 2022, the incremental volume of non-performing real estate loans at major listed banks (the six state-owned banks and seven joint-stock banks, with Pudong Development Bank yet to release its annual report) reached RMB 153.754 billion, a year-on-year increase of RMB 96.17 billion. This included RMB 106.774 billion in new corporate real estate NPLs and RMB 46.98 billion in new residential mortgage NPLs.
The good news is that new mortgage additions have been cut in half once again. With land sales no longer profitable, it’s time to introduce a property tax and focus on high-quality assets.
2022: Banks Trapped by Housing | Prism
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