The global tremors from China’s property crisis are only just starting

Chinese investors and their creditors are putting up “For sale” signs on real estate holdings across the globe as the need to raise cash amid a deepening property crisis at home trumps the risks of offloading into a falling market.

The prices they get will help finally put hard numbers on just how much trouble the wider industry is in.

The worldwide slump triggered by borrowing cost hikes has already wiped more than US$1 trillion (S$1.35 trillion) off office property values alone, said Starwood Capital Group chairman Barry Sternlicht last week.