Shanghai 2nd-Hand Housing Sales Surge 25% – and more of Today’s China Real Estate Links | October 10, 2013

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

• Shanghai 2nd-Hand Housing Sales Surge 25%

  Purchases of pre-owned homes in Shanghai last month surged 25 percent from August, with outlying districts seeing robust sales, Shanghai Deovolente Realty Co said yesterday.

  The city saw 26,806 units bought last month, the realty company said. The average price of the pre-owned homes gained 0.2 percent from August to a record 18,988 yuan (US$3,102) per square meter. It was the fifth consecutive month that the average price rose, providing further evidence that buying sentiment continued to be positive.

• Shanghai Land Sales Exceed US$6.5bil in Sept

  Sales of land parcels exceeded 40 billion yuan (US$6.5 billion) in Shanghai in September, the sixth month that buying momentum has remained robust, with residential plots taking up the lion’s share of supply.

  Excluding those designated for public uses, plots covering a combined site area of 1.08 million square meters were sold across the city last month for 40.3 billion yuan, the highest monthly record for both volume and value so far this year, Century 21 China Real Estate said yesterday.

• Greenland Group to Purchase Landmark Site in Melbourne Australia

  Australia’s leading racing club Victoria Racing Club (VRC) announced Wednesday that it has signed a Memorandum of Understanding (MoU) with Greenland Holding Group Overseas Investment Company Limited, a division of China’s leading property developer, to prepare a Development Concept for two parcels of land adjoining Flemington racecourse in Melbourne.

  The MoU requires both parties to devote resources to the preparation of a sales contract for the two parcels of lands of approximately 10,500 square meters and 30,174 square meters respectively.

  The negotiation process is expected take up to six months, during which applications for Planning Approval will be prepared.

• Retail Property Investors Shift Back to China’s Biggest Cities

  Investors in retail property are piling back into China’s biggest cities as slower economic growth makes second- and third-tier centers—once considered a good way to bet on brands’ eagerness to expand into new markets—less appealing.

  Retail-property investments in first-tier cities such as Beijing and Shanghai have risen to $9.8 billion so far this year, eclipsing the $8.8 billion for all of 2012, according to Jones Lang LaSalle. In major regional hubs that the global real-estate services company defines as tier-1.5 cities, such investments have fallen to $2.3 billion from $9.3 billion in all of last year.

• Chinese Property Investors Widen Footprint in U.S

  The upswing in the U.S. property market is attracting Chinese developers and investment firms, and they are dipping their toes into new cities.

  While Chinese institutional investors are still drawn to their traditional favorites of New York, Los Angeles and San Francisco, many are now also headed to cities such as Houston, Boston and Seattle as they seek geographic diversity as well as bigger lot sizes.

• Citic plans China’s first real-estate securitisation

  CITIC Securities said it plans to sell some primary properties to raise at least five billion yuan (€604m) to consolidate its capital base in China’s first real- estate securitisation.

  In a statement in the official ‘Shanghai Securities News’, China’s largest brokerage said there will be a three-step securitisation process.

  The company will first transfer rights for two buildings in Beijing and Shenzhen and rights to related land parcels from two units in Tianjin.

• Developer Zhong An Plans to Spin Off China New City for IPO

  Zhong An Real Estate Limited (“Zhong An” or the “Group”; stock code: 672.HK), one of the leading PRC property developers in the Yangtze River Delta region, is pleased to announce the Proposed Spin-off and separate listing of China New City Commercial Development Limited (“China New City”) on the Main Board of the Stock Exchange. On 30 September 2013, China New City submitted a listing application form to the Stock Exchange for an application for the listing of, and permission to deal in, the China New City Shares on the Main Board of the Stock Exchange.

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

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