Singapore Bargain-Hunters Target Distressed Chinese Properties

Wave of developer defaults follows Beijing's crackdown on speculation

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.