Over 40,000 Homebuyers in China Threaten to Boycott Mortgage Repayments for Stalled Projects

Over 40,000 Homebuyers in China Threaten to Boycott Mortgage Repayments for Stalled Projects
A commercial housing community under construction in Nanjing, East China's Jiangsu Province on April 15, 2022. Costfoto/Future Publishing via Getty Images
Frank Yue
Updated:
0:00

More than 40,000 homebuyers have threatened to cease paying their bank mortgages for pre-sold yet unfinished apartments unless developers resume construction.

The distressed homebuyers have informed mortgagees of their decisions to boycott payments for stalled development projects via letters, some of which have been circulated online.

Frank Yue
Frank Yue
Author
Frank Yue is a Canada-based journalist for The Epoch Times who covers China-related news. He also holds an M.A. in English language and literature from Tianjin Foreign Studies University, China.
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