Here is a list of the day’s latest China real estate news collected from around the web:
- Eastday-City retailers have reason to smile
The Year of the Dragon is off to a strong start for Shanghai retailers.
With average daily sales at around 812 million yuan (US$128.5 million) for the Spring Festival holiday, retailers in the city have had the best holiday shopping season since 1999.
The statistics covered 4,000 stores belonging to 452 large and mid-sized retailers. They rang up combined sales of 5.69 billion yuan from January 22 to January 28, according to data released by the Shanghai Commission of Commerce yesterday.
- Famous traditional courtyard home bulldozed in Beijing|Society|chinadaily.com.cn
In the 1950s, his plan to prevent modern development in the ancient city of Beijing was nipped.
Three decades after his death, famous architect Liang Sicheng’s former courtyard home in downtown Chinese capital met the same fate.
Liang’s “siheyuan,” the traditional courtyard home, was reportedly bulldozed by a real estate developer on Thursday in the name of preservation.- Thirty cities get half of global property dollars
More than half the recent global investment in commercial real estate found a home in just 30 cities with a quarter spent in London, Tokyo, New York, Hong Kong and Paris, according to real estate services company Jones Lang LaSalle
- CapitaRetail China Trust reports rise in Q4 income
Shares of CapitaRetail China Trust rose 3.9 per cent on Friday after the company posted a near-10 per cent hike in income for the fourth quarter. The shopping mall owner said it is aiming to at least match the result this year and it is on the lookout for acquisitions.
CapitaRetail China Trust owns nine shopping malls in China, which it estimates will become the world’s second biggest consumer market by 2020.
- Chinese buyers overtake Japanese as top foreign spenders in Oz
Overseas property buyers from China have overtaken the Japanese as the biggest spenders in the Australian state of Queensland, having upped their buying pattern three-fold during the global financial crisis says a new report from the agency group CBRE.
- China’s Hidden Wealth Feeds an Income Gap – NYTimes.com
The Chinese economy is a little like the Milky Way: we keep discovering it’s larger than we thought, the difference may run in the trillions, and much is hidden from view.
- Hong Kong Stocks Climb to Four-Month High as Exports Increase
Chinese developers retreated after a mainland lawmaker, speaking in an interview on China National Radio, said residential property prices need to fall 30 percent. Agile Property dropped 3.8 percent to HK$9.18. China Overseas Land & Investment Ltd., the biggest mainland real estate company listed in Hong Kong, slipped 3.4 percent to HK$14.98.
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- Famous traditional courtyard home bulldozed in Beijing|Society|chinadaily.com.cn
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