Contents:
I. The growing supply problem p.2
II. Survey – Construction p.5
III. Survey – Land p.7
IV. Survey – Apartment sales p.9
V. Survey – Apartment prices p.11
VI. Survey – Developer financing p.13
VII. Survey – Social housing p.15
VIII. Survey – Policy expectations p.17
IX. Appendix – Inventories in Tier 1, 2 and 3 cities p.18