Singaporean and other foreign investors are stepping up purchases of foreclosed properties in China, as Beijing’s crackdown on speculation and a slowing economy lead to a wave of defaults by developers.
Sales of Chinese distressed properties, including office buildings and factories, hit a quarterly record of $1.93 billion in the last three months of 2022, according to MSCI, up 14% from the same period a year earlier and 73% higher than in 2019, the first year it tracked such data.