Here is a list of the day’s latest China real estate news collected from around the web:
China’s biggest property developer may be getting a bit too big for China.
China Vanke Co Ltd, the nation’s largest developer by market value, Thursday said it had teamed up with New World Development Co. to buy a residential site in Hong Kong for 3.4 billion Hong Kong dollars ($436 million) in its first development venture beyond the mainland. It wants to build small-sized apartments on the site in Hong Kong’s New Territories.
With northern China once again struggling to breathe under a blanket of carcinogenic haze, one of the China’s highest profile antipollution warriors has invited the country’s social media users to vote on whether China should enact a national clean air law. The result is a landslide of such epic proportions, it puts even China’s rubber-stamp legislature to shame.
China’s property prices will continue to rise in 2013, driven by less supply, faster urbanization and the improved economy, analysts said. Housing inventories this year will be lower than in 2012, due to a slide in new construction area since the third quarter of 2011, data from a report by Reico showed on Tuesday. Reico is a research institution affiliated with the China Real Estate Chamber of Commerce. “The country’s property prices will pick up steadily this year, but a strong rebound across the country is not likely given the continuing rigorous measures,” said the report.