Elsewhere, the WSJ reports that developers are looking for overseas investors in Property Investors Lie in Wait for China Slowdown
"In recent months we have seen more brokers wanting to introduce deals to us, but the sellers aren't desperate enough," said Chen Lijian, head of real estate for greater China, at UBS Global Asset Management. "We have capital to deploy, but the deals aren't attractive enough so far."
The outside investors have the luxury of the longer view. Many are looking in smaller cities, where land costs are lower compared with major cities like Shanghai and Beijing. China has in recent years pushed for growth in the interior and western parts of the country in an effort to spread development from its current focus in the south and near the coasts.
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