China November Home Sales Rise to 2-Year High – Today’s China Real Estate Links | December 12, 2013

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

• China November Home Sales Rise to 2-Year High, Defying Curbs

  China’s home sales in November rose to the highest monthly value in almost two years even as more local governments announced measures to curb rising prices.

  The value of homes sold rose 19 percent to 720.4 billion yuan ($119 billion) last month, the highest since December 2011, from 604.8 billion yuan in October, according to the difference between the National Bureau of Statistics data for the first 11 months and first 10. Housing sales in the January-November period surged 31 percent from a year earlier to 5.9 trillion yuan, according to the data.

• Blackstone Talks Up Asia Deals as PE Firms Get Ready to Rumble

  Blackstone Group, which has put $1 billion of equity this year into Asian real estate, says it’s poised for more deals in the region as maturing funds sell assets and banks retreat amid new regulations.

  “As the competition has receded, the investment landscape has become more interesting,” said Chris Heady, the firm’s regional head of real estate investing in Hong Kong. “We believe this competitive dynamic will persist for some time.”

• China Vanke taps dim sum market once again

  China Vanke, the country’s largest property developer by revenue, has tapped the dim sum market for the second time in two weeks, raising Rmb1 billion through the sale of 3-year notes at 4.05%.

  Vanke, which recorded contracted sales of Rmb145.8 billion in the first 10 months, a year-on-year rise of 33%, has attracted decent demand to the transaction. The book was 3 times covered by orders from 89 accounts.

• Man Jumps to His Death Over Xuzhou Girlfriend’s Shopping Spree

  A Chinese man reportedly committed suicide in a crowded mall over the weekend after arguing with his girlfriend about her shopping.

  According to Chinese media reports, the man jumped to his death Saturday at the Golden Eagle Shopping Complex in the city of Xuzhou after an afternoon of shopping with his girlfriend. It is believed that the man was about 40 years old.

• Developer China Vanke promotes fun runs to boost sales

  China Vanke, the country’s largest homebuilder by sales, is trying something no peers have done before – a “run for fun” – to sustain its leadership in the competitive industry.

  Its sales exceeded the psychologically important level of 100 billion yuan (HK$127 billion) in 2010 and have since gone on to reach 160 billion yuan in the first 11 months of this year.

• Mixed growth picture emerges after new data

  China’s industrial output and investment growth cooled in November while retail sales unexpectedly picked up, presenting a mixed growth picture.

  The output from industrial enterprises with annual sales of more than 20 million yuan ($3.29 million) rose 10 percent from a year earlier, a fall from October’s 10.3 percent year-on-year growth, according to data released by the National Bureau of Statistics on Tuesday.

  The growth rate is lower than projections by various financial institutions.

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

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