Here is a list of the day’s latest China real estate news collected from around the web:
Land sales in major cities hit a record high in 2013, with the transaction amount in four top-tier cities exceeding 500 billion yuan ($82 billion). rising roughly 150 percent from 2012, latest figures show.
Beijing, Shanghai, Guangzhou and Shenzhen sold a combined 501.5 billion yuan worth of land this year as of Dec 20. Shanghai alone has auctioned off 217.8 billion yuan worth of land, data compiled by property agency Centaline show.
Forbes China, the licensed Chinese-language edition of Forbes magazine, has named real estate and film industry billionaire Wang Jianlin as its 2013 Businessman of the Year in its latest edition unveiled on Wednesday.
Wang topped the 2013 Forbes China Rich List published in October with wealth of $14.1 billion, after profiting from gains in the country’s real estate market this year.
The United States embassy in Beijing held a forum on the US property market on Dec. 16, inviting more than one hundred guests and property tycoons, including Ren Zhiqiang, chairman of Beijing Huayuan Property, Zhang Xin, co-president of SOHO China, and Xinyuan Real Estate CEO Zhang Yong, according to the Beijing-based Economic Observer.
Ambassador Gary Locke also invited several US property executives, including Rob Speyer, president of Tishman Speyer Properties, in a bid to promote bilateral cooperation between investors of the two countries.
The secondhand housing market cooled in December in Beijing and Shanghai as turnover fell, and an increasing number of sellers dropped prices, leading industry observers to wonder if the move indicates an inflection point in the white-hot property market.
In Beijing, the volume of secondhand transactions decreased 16.6 percent in the period from Dec 1 to Dec 22, compared with the same period in November, according to Homelink, a housing brokerage firm. In October, 59.7 percent of sellers registered at the brokerage offered a lower price than in the previous month, and the same ratio rose to 69.3 percent in November and to 71.8 percent in December.
When completed in 2015, the Shanghai Tower will be China’s tallest building. The 2,074-foot skyscraper will also deepen a glut of offices in the city, putting pressure on rents.
The project, in the Lujiazui financial district, will add 2.4 million square feet of office space, or more than 10 percent of the new supply forecast for the city in 2015, according to RET Property Consultancy Ltd. About 21.5 million square feet of grade-A offices will be added between 2014 and 2015, more than double the supply in the previous two years, according to broker Savills Plc.
As Taipei’s luxury home unit transaction prices hit new highs, some suspect that the central bank’s policy review meeting today will herald the launch of new measures to suppress surging realty prices.
Two apartment units in the Palace Mansion were sold to the same buyer, surnamed Wang, at NT$2.982 million per ping (3.31 square meters) in July. The two apartments are 160.5 and 146.1 pings in area, and their total prices reached NT$397 million and NT$355 millions, respectively.
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