Property developers in China's Hefei urge curb on 'malicious protests'

Homebuyers have threatened to stop paying mortgages on unfinished housing projects, prompting a pushback from developers.- AFP

HONG KONG (Reuters): A group of property developers in the eastern Chinese city of Hefei urged the local government this month to crack down on what they described as "malicious protests" by homebuyers, according to a joint letter reviewed by Reuters.

The letter is one of the first known efforts by developers joining together to push back against a spreading revolt by homebuyers, who have threatened to stop paying mortgages on hundreds of unfinished housing projects.