May. 7, 2012 (China Knowledge) - China
saw its value of real estate investment trusts or REITs reach RMB 686.57 billion as of Mar. 31, 2012, 0.24 percentage point lower than the end of last year, representing the first sequential decline since the beginning of 2010, said China
In the first quarter of this year, China
's net addition of REITs amounted to RMB 44.2 billion, down 9.43% from a quarter earlier.
As a result of China
's regulation easing the property market, the country saw consecutive declines of REITs since the second quarter of 2011, said Home Link, a Chinese pre-owned property agency.
According to statistics, the total liabilities of 146 mainland-listed real estate developers were RMB 2.08 trillion as of Mar. 31, 2012, RMB 60.3 billion more than the end of last year.
The average debt/asset ratio of these companies had increased to 71.96% as of Mar. 31, 2012, 0.36 percentage point higher than 71.59% at the end of last year. Seventeen of the 146 firms saw the average debt/asset ratio exceed 80% at the end of March 2012.