China’s P2P Property Lending Growth Six Times Faster Than Banks
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People walk on a overpass beside a huge construction site in Tianjin. Property-related loans handled by the online platforms climbed 163 percent to 115.5 billion yuan ($18 billion) in 2015, according to Shanghai-based researcher Yingcan Group.
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Loans via P2P platforms expanded 163% last year: Yingcan
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Home prices in Shenzhen and Shanghai jumped as much as 50%
Peer-to-peer lending for property in China grew more than six times faster than loans extended through banks last year as borrowers took advantage of a less-regulated financing market to take part in the nation’s real estate boom.
Property-related loans handled by the online platforms climbed 163 percent to 115.5 billion yuan ($18 billion) in 2015, according to Shanghai-based researcher Yingcan Group. That’s faster than the 21 percent increase in outstanding mortgages held by the country’s banks during the same period, central bank data showed…
China’s P2P Property Lending Growth Six Times Faster Than Banks
