According to a Nomura report, the size of unfinished, pre-sold homes in China is about 20 times the size of property developer Country Garden. There are estimated to be around 20 million units of unconstructed and delayed pre-sold homes, requiring approximately 3.2 trillion yuan ($440 billion) to complete. Delays in construction have led to homebuyers becoming impatient, and the issue of home delivery could pose a social issue and threaten social stability. Developers have faced financing difficulties due to Beijing's crackdown on debt reliance and construction challenges during the COVID-19 pandemic.

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