Here is a list of the day’s latest China real estate news collected from around the web:
Henderson Land Development posted a 28 per cent increase in its underlying profit to HK$7.1 billion for last year, in line with market expectations.
Analysts expect to see a positive result in 2013 but the earnings in coming years are subject to the outlook of the property sector, which has been clouded by policy uncertainties.
China’s real estate investment will lull later this year after surging in the first two months, the China International Capital Corporation (CICC) said Monday.
CICC said growth in housing sales will decrease due to tightened monetary policies and a harsh policy package aimed at curbing property prices.
China’s housing market started heating in the last quarter of 2012 after a long slump.
China’s major property developers’ profits are falling due to rising operational, labor and raw material costs, according to an industry study.
Despite fast-growing property sales last year, average net profits of the country’s top 500 developers stood at 434 million yuan ($68.9 million) in 2012, down 18.64 percent year-on-year, according to the study conducted by the China Real Estate Research Institute, China Real Estate Association and China Real Estate Valuation Center.
China may see an increase in property transactions involving international investors in 2013, fueled by the economic recovery and the rosy outlook of China’s commercial properties, industry experts said.
“On one hand, a number of deals are in the pipeline after lots of negotiations were conducted last year. On the other hand, the top management of international real estate funds are also under pressure because few deals were concluded last year,” said Andy Zhang, managing director of Cushman & Wakefield China.
House prices continued their upward momentum in China during February with 66 of 70 major cities monitored by the National Bureau of Statistics reporting a sharp monthly rise in property prices. Guangzhou saw the largest increase of 8.2 percent, almost double the rate in January, followed by Beijing with a 7.7 percent rise.
The large price hikes followed the government announcement that it would introduce a capital gains tax on sales of non-self accommodation properties in the next few months as part of its efforts to rein in the real estate market and limit speculation and investment.