Here is a list of the day’s latest China real estate news collected from around the web:
- Hangzhou Developer Suffers China’s First Real Estate Bankruptcy
The first case of bankruptcy among China’s real estate companies appeared in Hangzhou amid tightening real estate regulations around the country, the Beijing News reports. As reported earlier by the Hangzhou Daily, the Yuhang District Court in Hangzhou, the capital city of Zhejiang Province in eastern China, handled the bankruptcy proceedings of Hangzhou Glory Real Estate Development Co., Ltd. on March 30.
- Asians on Record Building Spree in Australia’s Apartment Market
Asian developers including Fraser & Neave Ltd. (FNN) and SP Setia Bhd. (SPSB) are building a record number of apartments in Australia, betting on a market where local companies have been sidelined by tight financing.
Frasers Property Australia, a division of Singapore’s third-biggest developer, is building a A$2 billion ($2.1 billion), 2,000-unit project in Sydney with Japan’s Sekisui House Ltd. (1928)
- Sands launches $4.4B Macau casino-resort
U.S. billionaire Sheldon Adelson’s Macau casino operator is launching its long-delayed fourth resort, a $4.4 billion complex that is its latest bet on continued strong growth in the world’s biggest gambling market.
- China Inland Cities Power New Growth Offsetting Slowing on Coast
Don’t talk to Tobias Kerle about China’s slowing growth, the general manager of Continental AG’s 12-month-old tire factory in the city of Hefei is too busy planning to double output. “We’ve been ramping up the plant at a speed more than double what we knew before,” said Kerle, 42, at the factory in the capital of Anhui province, 400 kilometers (250 miles) inland from Shanghai.
- Mumbai Is the World’s Least Affordable Home Market – Shanghai is Second
The average Indian would need to work for three centuries to pay for a luxury home in Mumbai, making that city the least affordable in the world for locals, according to an analysis of real estate and wages.