Here is a list of the day’s latest China real estate news collected from around the web:
CapitaLand Ltd, Southeast Asia’s largest property developer, sees residential sales in China improving for the rest of the year, helped by expectations of a turnaround in the world’s second-largest economy. CapitaLand, about 40 percent owned by Singapore state investor Temasek, said the number of homes it sold in China in the second quarter more than tripled to 812 units from the previous three months, boosted by a rebound in buyers’ sentiment.
The average home price in China’s 100 major cities edged up in July for the second straight month, reinforcing signs of a recovery in the property market even as the government seeks to spur broader economic growth, a private sector survey showed on Wednesday.The average price of 8,717 yuan ($1,400) per square meter in the 100 cities surveyed was 0.33 percent higher than June, accelerating from June’s month-on-month increase of 0.05 percent, the China Real Estate Index System (CREIS) said.
CHINA’S property market was once described as the “most important sector in the known universe” by Jonathan Anderson, formerly of UBS, a Swiss bank. It certainly felt that way on a recent visit to Sanya, the resort city in Hainan, known for its sea air and speculative vapours. Finding a real-estate agent in Sanya is as easy as buying a bucket-and-spade. Flyers advertising flats sprinkled the beachfront like sea-spray.