Here is a list of the day’s latest China real estate news collected from around the web:
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Developer China Vanke Sales Dropped in November 2013
The nation’s largest real estate developer China Vanke Co Ltd sold 1.27 million square meters in November, 11.42 percent less year-on-year, and its revenue dropped 18.04 percent to 14 billion yuan ($2.3 billion).
Month-on-month, Vanke reported its sales volume declined 24.15 percent, with a revenue drop of 19.08 percent, according to a statement the Shenzhen-based developer filed with the Shenzhen Stock Exchange on Wednesday.
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Owner of Regent Brand Hunting for New Hong Kong Locations
Steven Pan Si-liang’s passion for the legendary Regent hotel in Tsim Sha Tsui – now the InterContinental – is underlined by his decision to stay in Hong Kong and his relentless search of a choice location to restore Regent’s heyday in the city.
The chairman of Taiwan’s biggest and most profitable hotel operator – Formosa International Hotels – which bought the Regent brand from America’s Carlson Group three yeas ago – is now looking to flex its muscles in Hong Kong and on the mainland.
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Xinyuan Real Estate to Issue US$200M of 13% Senior Notes
Xinyuan Real Estate (NYSE: XIN [FREE Stock Trend Analysis]), a residential real estate developer with a focus on high growth cities in China, today announced the closing of its offering of US$200 million in aggregate principal amount of 13% senior notes due 2019 (the “Notes”). The Notes are guaranteed by certain of Xinyuan’s subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan’s subsidiaries. Xinyuan intends to repay certain existing debts, invest in real estate projects in the PRC and the United States and use the remainder for general corporate purposes.
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China’s investment growth to remain steady in 2014: forecast
China’s fixed assets investment is likely to grow by around 20 percent next year, researchers predicted.
Fixed assets investment growth is likely to slow to 19 percent in 2014, dropping below 20 percent for the first time in 12 years, according to a prediction from the State Information Center.
The reform package issued recently by the government will boost investment next year, with infrastructure construction and service sector development leading further investment, said Hu Zuquan, an analyst with the State Information Center.
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China’s Local Govts Enjoy 2013 Surge in Land Sales Revenues
Income from land sales in first-tier cities saw a dramatic year-on-year rise in the first 11 months this year, which could lead to an increase in home prices next year, analysts said Thursday.
The income from land sales in six first-tier cities – Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin and Chongqing – reached a total of 589.72 billion yuan ($96.77) in the first 11 months this year, up 177.32 percent year-on-year, according to data calculated by Shanghai-based China Real Estate Information Co (CRIC) and e-mailed to the Global Times Thursday.
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China Housing Prices Expected to Slow Down in 2014
China’s red hot property sector will likely come under new pressure next year as local governments move to cool the market and developers build on new supplies of land, and the slowdown in home price increases could help Beijing in its campaign to keep housing affordable for the country’s vast population.
“China’s property sector is peaking,” said CLSA analyst Nicole Wong, who expects housing price growth nationwide to slow to between 5 and 8 per cent next year.
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Experts Predict China Real Estate Market Slowdown
Property price growth is set to decelerate, with the slowdown to persist for several years, industry experts said on Friday.
“China’s housing prices are now approaching a peak, just as what happened to the United States in 2005,” said Nie Meisheng, former head of the China Real Estate Chamber of Commerce.
She made the comment at the Ping An Real Estate and Financial Innovation forum in Shenzhen.
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