Here is a list of the day’s latest China real estate news collected from around the web:
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Shanghai ranks highest in per capita disposable income
By Nov, 18, 28 provinces in China had published per capita disposable income of both urban and rural residents in the first 3 months. Shanghai topped the ranking list by 30,205 yuan. Meanwhile Gansu Province had the highest per capita disposable income growth rate in the first 3 quarters of 14.69 percent.
According to statistics from the National Bureau of Statistics (NBS), per capita income of both urban and rural residents in China was 20,190 yuan in the first 3 quarters. Per capita disposable income of urban residents was 18,427 yuan with a nominal growth of 13.0 percent year-on-year. The actual year-on-year growth rate was 9.8 percent, 2 percent higher than that of last year.
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China home price rise indicates small rebound in demand
Chinese property prices increased in 35 of the country’s 70 main cities during October, indicating a small rebound in demand.
Analysts said two interest rate cuts, relaxing lending restrictions and easier access to local government housing funds were behind the gain.
The real estate industry is one of the country’s main economic engines.
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Spain To Dangle Automatic Residency Carrot For Foreign Homebuyers
The Spanish government plans to offer automatic residency permits to any foreigner who buys a house priced at more than 160,000 euros ($203,845), reported the Associated Press, in an effort to sell off hundreds of thousands of unsold property left over from the nation’s 2008 real estate bubble.
The proposal, announced by Spain’s Trade Ministry Secretary, Jaime García-Legaz, on Monday, would target Russian and Chinese investors, who presently face difficulties in buying a house in Spain, as they were not European Union residents.
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