BofA Warns China Property Slump to Hit Deals; Favors Japan
- Domestic and outbound transactions hard to execute, Siah says
- More optimistic about Japan real estate, Singapore REITs
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China’s property downturn is set to last for years, and a drought of deals in the sector is unlikely to end soon due to a lack of investor confidence in the world’s second-largest economy, a senior Bank of America Corp. banker said.
“The real estate sector in China will likely entail a multi-year recovery timeframe,” said Martin Siah, co-head of real estate investment banking for the Asia-Pacific region. “It would be too quick to expect a swift resolution to the real estate deals issue,” he said in an interview.