Here is a list of the day’s latest China real estate news collected from around the web:
The average price rose 5.34% in April from the same month a year earlier, a survey of developers and real-estate companies showed. It is the fifth month of increase after eight months of decline, data provider China Real Estate Index System said on Thursday. The average rose 3.90% in March and 2.48% in February.
The price rose 1.00% on month in April to 10,098 yuan ($1,637) a square meter. That is the 11th month of gain. In March the average rose 1.03% from February.
China’s urbanization drive not only increases demand, but also offers a chance to correct previous policy imbalances, said a World Bank economist who participated in the drafting of a special report on China’s urbanization efforts.
The urbanization drive crystallizes some major issues that badly need to be addressed, including imbalances in the country’s factor market, the central-local fiscal relationship, and the delivery system for public services, Karlis Smits, a senior economist at the World Bank, told China Daily.
Hong Kong shares fell from a seven-month high on Thursday as soft China manufacturing data put growth-sensitive counters on the defensive after markets returned from the May Day public holiday.
Mainland Chinese markets were tepid after the long holiday with Shanghai volume at its weakest in three weeks, with the property sector buoyed by a private survey that showed home prices rose for an eleventh-straight month.
In the international exhibition area of the just-concluded Beijing Real Estate Trade Fair, agents from one particular country won the favor of a surprising number of Chinese investors. Out of over 70 foreign exhibitors, 18 of them were real estate agents from the tiny island nation of Cyprus.
This is all thanks to Cyprus’ newly instituted immigration policy. The purchase of a property with a minimum market value of 300,000 euros will entitle the investor to obtain a Permanent Residence permit (PR).
Chinese buyers have returned to the Hunter Valley vineyard market after more than 18 months.
Fu Yip International Group, run by Chengye Xiao and Jiemei Xiao, last spent $1.7 million last month on Honeytree Estate, at Pokolbin.
It was marketed by Cain Beckett from Jurd’s Real Estate. Beckett has been the negotiating agent on many winery sales to Chinese investors since 2011.