”Loan unpaid campaign” spreads throughout China due to suspension of condominium construction
中国ではマンションの建設が中断したため、購入者らが集団で「住宅ローンを払わない」と抗議する動きが各地で広がっています
In China, the construction of condominiums was suspended, so there is a growing movement among buyers to protest that they will not pay their mortgages.
It is a construction site in Wuhan, Hubei Province.
The construction that started two years ago has stopped since March last year, and it has become wild with no construction materials left and no window frames.
In China, mortgage payments often begin even if they are incomplete, and in Shaanxi Province and Xi’An, videos protesting by condominium buyers are available on SNS.
Chinese media reports that more than 100 condominiums in 18 provinces are refusing to repay loans
In the background, problems such as the deterioration of the cash flow of construction companies due to the slowdown of the real estate market and the shortage of construction funds due to the money collected from purchasers being used for other investments have been pointed out.
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