Guangdong Govt Takes Back Three Sites from Dalian Wanda – Today’s China Real Estate Links | December 3, 2013

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

• Guangdong Govt Takes Back Three Sites from Dalian Wanda

  Authorities in south China’s Guangdong province have reclaimed three plots of land that had been acquired by the Dalian Wanda Group — one of China’s largest real estate developers — through auction, reports the Shanghai-based China Business News.

  The Guangzhou Municipal Land Resources and Housing Administrative Bureau released an announcement on Nov. 6 that it will reopen the bidding for its KXC-K3-1 plot of land, located in the Guangzhou Science City on Dec. 15.

  The announcement aroused public attention because Dalian Wanda had won a tender for KXC-K3-1 on July 24.

• China Real Estate Website SouFun to Launch Financial Services Arm

  SouFun, the leading real estate Internet portal in China, announced today that its financial services platform “SouFun Financial Services Channel” will be up and running on the 16th of this month.

  “SouFun Financial Services Channel” will focus on bringing third party financial products and services to SouFun’s rapidly increasing home buying members, SouFun certified agents across major cities of China, and developers and home improvement products and services providers. SouFun is also working with qualified financial institutions to launch joint financial products specifically catered to SouFun’s members and clients nationwide.

• China property inflation eases in November – surveys

  China’s property inflation eased slightly in November, two private surveys showed, offering initial signs that recent measures imposed by some local authorities could help cool a red-hot real estate sector.

  Prices of new homes in 288 major cities in November rose 0.77 percent from the previous month, easing from a monthly rise of 0.83 percent in October, according to a poll released on Sunday by E-House China EJ.N, a real estate services firm.

• Banks cutting off first-time buyers from property loans in China

  Banks in China have reduced or even stopped granting loans to property buyers even though the country’s property market has rebounded. Buyers looking for pre-owned homes are now out of luck in second and third-tier cities, reports the Chinese-language Beijing News and Economic Information Daily.

  Several banks in Tianjin and Guangzhou confirmed they have stopped granting property loans or cancelled discount rates for property loan for first-time buyers.

• China’s spreading property tax arouses wide attention

  The introduction of a real estate tax to suppress China’s rising house prices has aroused wide attention and heated discussions.

  Final decision’s report of the Third Plenum, unveiled on Nov. 15 by the Communist Party of China Central Committee, said China will introduce property tax legislation, revealing its plan to expand the pilot programs nationwide.

  When will it be implemented across the nation? And will it completely achieve its goal?

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

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