Shanghai Housing Expo Lures Many but Few Deals — and more of Today’s China Real Estate Links | March 18, 2013

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

• Housing Expo Lures Many but Few Deals

  Very few attractive discounts are on offer at an ongoing property exhibition in Shanghai, reflecting a positive sentiment in the market.

  The four-day Shanghai Real Estate Expo, the first major real estate fair to be held in the city every year, opened yesterday at the Shanghai Exhibition Center with about 500 domestic and overseas property developments on display. That compared with some 300 projects on offer last year.

• China’s Li Faces Home Prices Challenge After Wen’s Failure

  China’s new leaders are inheriting a challenge that stymied the outgoing government: deflating a bubble in big-city home prices without damping economic growth.

  In one of its final acts before the leadership change, China’s State Council on March 1 imposed tough new measures intended to cool the market, a step that sent property stocks tumbling.

• Chinese breathing competitive life into Sydney high-rise scene

  The arrival of the Chinese-based Greenland Group to Australian shores is an auspicious occasion.

  The group will build Sydney’s tallest residential high-rise on the former Water Board site after paying around $100 million to the loss-taking Canada-based Brookfield Asset Management with whom it will, in a face-saving arrangement, reportedly team up to assist in the development of the tower.

  In a statement to Dow Jones, the Chinese group put the value of the residential and hotel project at $480 million $497 million.

• Asia property boom propels Savills sales to record

  The upmarket property consultancy posted a 36pc rise in pre-tax profit to £54.2m in 2012, as revenues hit an all-time high of £806.4m, driven by a record year in the Asia-Pacific region and a robust UK market.

  Underlying profits at Savills’ Asia Pacific business – its second largest outside the UK – swelled 18pc to £32.6m on the back of an 11pc jump in sales to £331m, more than offsetting losses in its sluggish US and continental European markets.

This list is updated daily, so tune in again tomorrow for more up to date information, or subscribe to our daily email news digest to get this delivered to your mailbox.