Here is a list of the day’s latest China real estate news collected from around the web:
- Real estate funds eye China market
Despite Beijing’s warning there will be no let-up in its measures to rein in the property market, global investors are showing renewed interest in the sector after staying on the sidelines for more than a year. International investment funds are preparing to raise fresh capital to invest in a market where asset prices have fallen to realistic levels after two years of cooling measures.
- Prada to Benefit as Chinese Buyers Turn ‘Sophisticated’
As the high-end Chinese consumer becomes more discerning in a slowing luxury goods market, analysts say Hong Kong-listed Italian fashion house Prada can face up to the challenge given its attractive product mix and store expansion plans, forecasting huge gains for the company’s stock over the next 12 months.
- HSBC flash PMI: China production still contracting
HSBC’s flash PMI data for Chinese production – which comes out a week earlier than the final HSBC and official numbers, showed continued weakness in China’s manufacturing sector in May. The index dropped further below 50, hitting 48.7, and marking seven straight months of contraction in the sector.
- China disperses $10 billion of public housing funds
China’s Ministry of Finance said on Thursday it had given 66 billion yuan ($10.5 billion) to local governments to help build public housing for rent, one of five categories of state-subsidized affordable housing. The money, which the ministry said had been dispersed recently, will build public-rent housing, the second-lowest tier of homes in its affordable housing program.
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