Here is a list of the day’s latest China real estate news collected from around the web:
- Hotels suffering from high labor costs, survey finds
China’s hotel market has seen poorer business performance this year due to rising labor costs and the economic slowdown, according to a survey co-released Thursday by a property consultancy and a hotel association.
The revenue per available room (RevPAR) of the surveyed hotels is expected to increase by 3.1 percent this year, much lower than the 10 percent growth in 2011, according to the research conducted by Jones Lang LaSalle Hotels and China Tourism Hotel Association.
- CapLand patiently commits billions to China
Even as China’s growth slows and property prices surge, CapitaLand continues to pump billions into the country. The property giant, with $13 billion or 38 per cent of its assets in China at the end of September, believes demand factors are in its favour. For one thing, China’s gross domestic product is expected to grow at 8.1 per cent next year, up from a projected 7.7 per cent this year.
- Office rentals in key markets to rise in 2013
The office rental markets in Beijing, San Francisco, London, Tokyo, Moscow, Hong Kong and Sydney are tipped to register strong rental growth prospects in 2013, says Jones Lang LaSalle’s latest Global Office Index. Other top-performing markets to watch out for are Jakarta, Mexico City, and Rio de Janeiro while tech-rich markets such as San Francisco and Stockholm are also performing well, said Jeremy Kelly, Director in Jones Lang LaSalle’s Global Research team.
- China says October retail sales up 14.5 per cent on-year
China’s retail sales, the main gauge of consumer spending in the world’s second-biggest economy, rose 14.5 per cent in October from the same month last year, the government said Friday.
Retail sales also increased 14.1 per cent in the first 10 months of 2012 compared with the same period last year, the National Bureau of Statistics said.
- State lending helps boost China’s economic rebound
The Chinese economy grew faster than expected last month even as inflation slowed, official statistics showed yesterday, as the Government continued heavy lending through its state-owned banks to rekindle growth.
The latest data, including industrial production, retail sales and fixed-asset investment, were stronger than most economists had anticipated. Coming after Asia’s largest economy suffered the slowest period of growth in the third quarter since 2009, the figures signalled brighter skies ahead for the rest of the region.
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