Not Best Time to Buy Land in China Now, Hang Lung’s Chan Says
This article is for subscribers only.
Land prices in China may drop further and it is still too early to buy land in the country, said Ronnie Chan, Chairman of Hang Lung Properties Ltd., the Hong Kong developer investing at least $8.5 billion in Chinese real estate.
“Why hurry? It’s not like the market is going to take off anytime soon,” Chan said in an interview at the sideline of the Real Estate Investment World conference in Singapore today. “It’s still not the best time yet. We need to look more carefully.”