Here is a list of the day’s latest China real estate news collected from around the web:
- China Vanke’s April property sales slip 6 pct
China Vanke, the country’s largest real estate developer by sales, said on Thursday its April sales fell 6 percent to 7.4 billion yuan ($1.2 billion) from the same period a year ago, snapping a two-month sales rise. Vanke said it sold 767,000 square metres of property in April.
- Worst Over for China Commercial Real Estate: SOHO CEO
The worst is over for China’s commercial real estate industry and the government’s policy to provide more credit for private firms should help the sector, Zhang Xin, Chief Executive Officer of SOHO China, the largest property developer in Beijing said. “Definitely, we have seen the worst,” Zhang told CNBC’s Christine Tan on “Managing Asia”. “I think in commercial real estate, January was the worst. By now, it’s definitely turned around much better now.”
- Savills sees profit in China despite property curbs
Savills Plc, a UK-based real estate adviser, expects revenue growth of 10 to 20 percent in China this year, despite real estate curbs and an economic slowdown, said Jeremy Helsby, group chief executive. Last year, Savills’ group revenue was up 7 percent, compared with 20 percent growth in China, according to the company’s financial statements.