Here is a list of the day’s latest China real estate news collected from around the web:
- More Chinese Cities Restrict Real Estate Sales But Details Scarce
Following Beijing and Shanghai’s lead, a string of local governments have come out with their own plans to control the volatile housing markets in their own regions.
But the central government’s requirement that they provide “detailed regulations”, has meant most local government have come up short.
For example, Nanjing’s “detailed regulations” to cool down its real estate market composed of exactly 154 characters.
- China’s Housing Curbs Sow Confusion
Anxious buyers and sellers filled city offices in Beijing and Shanghai on Monday looking for ways to fend off new property-sales restrictions, even as fresh data showed how difficult it will be for Chinese officials to rein in surging home prices.
Home sellers and buyers lined up at property transaction centers in both cities after they detailed new limits on home sales over the weekend effective Monday. Among them, both affirmed they would follow an earlier edict from the central government that includes a 20% capital gains tax on the sale of second homes.
- China Property Developers Restructure for Changing Market
China’s large and medium-sized property developers are restructuring their business by diversifying their activities or geographic presence to deal with the latest round of policy tightening.
Hong Kong-listed property developer Beijing Capital Land Ltd has quickened its step in building outlet complexes – projects integrating the residential, commercial, industrial and tourism sectors – as part of efforts to diversify its business.
- Overseas chain stores find the going tough in China
China was an ideal business destination for global retailing giants in the 1990s. However, changing conditions now make the journey here less easy.
In the past two years, chain store operators have reported the lowest year-on-year growth rates in 10 years.
International brick-and-mortar retailing giants are facing unprecedented difficulties in China, including increasing rental costs, fast-growing Chinese counterparts and competition from e-commerce, industrial experts said.
- Wal-Mart Denies Delays in China Store Openings
Wal-Mart Stores Inc. WMT +0.80% plans to invest 500 million yuan ($79.8 million) to upgrade Chinese stores and said it is on target with store openings there, following local media reports that said recent store closures are derailing store growth plans in one of the retailers’ key markets.
The Bentonville, Ark., retailer plans to remodel 50 of its 380-plus stores there and will open 30 new stores this year the country, according to a company statement on Monday. In the next six months, store openings are expected in cities such as Xinyu in eastern Jiangxi province and Shantou in southern Guangdong province, the statement said.
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