GLOBAL financial crash fears remain high over the prospect of the collapse of real estate giant, China Evergrande.
Although some reports claimed Evergrande had managed to avoid defaulting on bond payments on November 10, experts have insisted the company is set for bankruptcy. Such is the large debt facing the real estate giant, Evergrande is predicted to go bankrupt “in days”. Dr Marco Metzler, senior analyst for Deutsche Marktscreening Agentur (DMSA) claimed Evergrande had in fact defaulted on the $148.2million (£110million) payment on Wednesday.
Despite what he claimed, “anonymous” sources claiming the company had met the deadline, Dr Metzler said the payment had not been officially confirmed.
The DMSA itself is a bondholder rand revealed on Wednesday it had not received interest payments on bonds paid to Evergrande.
READ MORE VIA EXPRESS UK
- Prime Minister Jacinda Ardern is now a property millionaire
- Abandoned land for sale
- China’s ticking time bomb a massive threat to the NZ property market
- Price of average Kiwi home cracks $1 million
- COOLING OFF: NZ property slowdown
- Developers bailing out of house buyer contracts via sunset clause
- HOUSING CRISIS: Unfinished homes as severe building supply shortages stall construction
- John Key says housing ‘boom run is over’
- NZ property sales plummet 21.7% | REINZ
- How an accountant earned $47MILLION by secretly selling clothes out of her parents’ garage