Presales are everything for residential builders in China, but in a coronavirus world, they may not be enough for one big developer. Across China, the cash-strapped Tahoe Group has slowed or stopped construction on numerous luxury and mid-market residential projects, which is worrying homebuyers who already put down hefty deposits on units and even took out mortgages. The company has fallen behind on bond payments and has pointed to the Covid-induced slowdown in the housing
source https://therealdeal.com/2020/08/30/presales-powered-resi-development-in-china-covid-may-change-that/
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