China’s eastern promise fades as western growth soars – and more of today’s China Real Estate Links | July 25, 2012

Here is a list of the day’s latest China real estate news collected from around the web:

• China’s eastern promise fades as western growth soars

  Growth in central and western regions was stronger than the traditional coastal powerhouses in the first six months of the year.
  The shift was due mainly to the transfer of technology and manufacturing, a focus on infrastructure and declining exports, analysts said.
  A total of 22 provinces, autonomous regions and municipalities published their first-half growth figures, after the National Bureau of Statistics reported 7.8 percent national growth earlier this month.

• China moves to deflate new real estate bubble

  WHEN THE hammer came down at the auction earlier this month, the Wanliu residential land plot in Beijing’s Haidian district went for 2.63 billion yuan (€340 million), a new record for a plot of land in the capital.The auction was attended by big-name real estate companies like Vanke and Poly, and the 38,869sq m plot was bought by Beijing Hehuahengrui Real Estate Company, which pledged to build new homes for previous residents of the area.Wait a minute. Isn’t this supposed to be a time of austerity in the Chinese real estate business?

• Real Estate Resurgence Seen Threatening China’s Economy

  The heating up of China’s real estate market in July could jeopardize the country’s softlanding, according to a mid-year report from a leading think tank.Official data released last Wednesday showed that 25 cities, out of a statistical pool of 70 major cities, saw new home prices rise in June from the previous month. The figure was drastically up from six cities that saw month-on-month price gains in May.

• China real estate developers still lean toward skyscrapers

  Major real estate developers have apparently accepted the stubborn determination of government policy makers by finally turning their attention toward commercial properties — in a big way.In the city of Chengdu, for example, developers have proposed or have started building 30 skyscrapers for an all-new financial center. Each building would be at least 60 stories high.

• China To Investigate Real Estate Sector Loan Quality

  The Chinese government is launching an investigation into property loans amid rising concerns about the risks posed by the financial health of the real estate sector, the Shanghai Securities News said Tuesday.The official newspaper cited “authoritative sources” as saying that the State Council has agreed to send six teams into 12 provinces to examine the market and the quality of loans to the industry.It said the China Banking Regulatory Commission hasn’t ruled out the introduction of more measures to control risk, citing concerns at the highest levels of government.

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