CBRE Says China is Building Too Many Offices – and more of Today’s China Real Estate Links | April 15, 2013

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

• Worries emerge about oversupply of office space

  The construction of 40.8 million square meters of office space will be completed in the next four years across the nation’s major 14 cities, fueling worries about oversupply in some second-tier cities, a report said on Thursday.

  Between 2013 and 2016, the total stock of quality office space in the 14 major cities will increase 80 percent, or 40.8 million sq m, said a report on China’s office property supply published by commercial real estate services firm CBRE.

• Record Shanghai land price tag belies cooling bid

  A state-controlled conglomerate bought a Shanghai plot for a record 3.8 billion yuan (HK$4.8 billion), sparking concerns over the efficacy of the latest official cooling measures.
  Shanghai Pudong Development (Group) Co – under the city’s municipal government – beat rivals at a public auction by offering a 65-percent premium to net the Pudong district site allocated for residential use. The price tag translates to 18,199 yuan per square meter of gross floor area, making the site the most expensive land parcel sold in the commercial capital this year.

• Apartment Rental Market Recovering in China Cities

  The latest stats from the National Bureau of Statistic shows apartment rental rates have increased by some 3.7-percent in March across China.

  Tang Zhisheng, manager of Shenzhen Jia Shun Real Estate, says the apartment rent has increased by 10 percent or more in March this year.

• Vanke 1st corporate participant at Milan Expo 2015

  China Vanke Co, a global leader in real estate industry, became on Friday the first corporate participant at the Milan Expo 2015 and will show the world some values of contemporary China through its own pavilion.

  With an initial investment of three million euros ($3.9 million), China Vanke Co, which provides over 100,000 housing units, will recreate the concept space of “shitang” or canteen, a traditional place which continues to be part of today’s Chinese society and represents a way to socialize.

• Deal collapses for $1.7 billion Chinese investment in San Francisco

  had agreed to invest $1.7 billion to help bankroll over 12,500 homes on Treasure Island and Hunters Point is dead.
  The collapse comes more than three months after the developer Lennar Corp. said that the loan committee of the China Development Corp. had agreed to provide funds for the two massive housing projects

This list is updated daily, so tune in again tomorrow for more up to date information.