Here is a list of the day’s latest China real estate news collected from around the web:
Authorities in Guangzhou and Shenzhen, two large cities in Guangdong province, announced detailed regulations on Sunday to further cool the real estate market amid expectations of rising property prices this year.
According to the regulations, Guangzhou, the provincial capital, will provide land for residential use of up to 5.95 square kilometers this year, up 1.47 sq km compared with the average during the past five years.
Chinese home prices picked up in March as buyers rushed to beat new government policies aimed at cracking down on speculation, an independent survey showed Monday.
The cost of a new home in 100 major cities was up 3.9 percent year-on-year to an average 9,998 yuan ($1,587) per square metre, the China Index Academy said, the fourth consecutive monthly rise.
In February, home prices rose 2.48 percent.
THE housing rentals for expatriates in Shanghai are likely to rise this year as vacancy rates remain low despite tightened corporate budgets, an international real estate services provider has said.
The rents for expatriates are likely to go up 8 percent in the city, while the average vacancy is likely to stay at around 4 percent, according to Knight Frank’s latest Shanghai Expatriate Housing Market Insights.
Walmart Stores Inc (NYSE: WMT) quelled rumors that it had planned massive closures in China and retreat from the country, but admitted to mounting pressure from higher expenses and competition from e-commerce competitors.
The rumors surfaced after the US retailer shut down a store in Shenzhen and Zhengzhou each last year.
It said in October 2012 that it planned to open a total of 100 stores in China in the next three years, implying a slower pace of expansion than 50 to 60 new stores in the country annually on average over recent years. Some industry experts expect Walmart to close 10 stores in China this year.