Here is a list of the day’s latest China real estate news collected from around the web:
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Booming land sales fuel predictions of real estate rebound
Land sales in China’s 10 major cities more than doubled in the third quarter compared with the previous one, with the price premium picking up, fueling expectations of a speedier rebound in the country’s real estate sector.
Statistics from real estate service provider Homelink showed that local governments in the 10 cities, including Beijing, Shanghai and Guangzhou, received 135.2 billion yuan ($20.8 billion) from selling land parcels in the third quarter, up 123.8 percent on the second quarter. Floor space sold during the same period jumped 70.1 percent. -
Hong Kong’s million-dollar retail rent challenge
Reaching the Chinese consumer may come at the ultimate price in Hong Kong, where U.S. apparel makers are waging a very expensive retail arms race for hearts and minds.In what amounts to a brand-building gamble just as China’s growth rate is beginning to cool, recent store openings in the city by Abercrombie & Fitch Co. (NYSE:ANF) , privately held Forever 21 Inc. and The Gap Inc. (NYSE:GPS) come with costly property-leasing arrangements that retail experts say will consume much of the profits — or even result in ongoing losses — for these outlets.
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China home sales accelerate in holiday week
China’s property market appears to have picked up over the eight-day Golden Week holiday, even though immediate sales figures don’t necessarily reflect the improvement. Nomura advised clients in a note Tuesday not to pay too much attention to “media reports of slowing sales” for the holiday break spanning the period Sept. 30 to Oct. 7. The annual break is considered one of the most important on the annual calendar in terms of new home exhibitions.
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