Now that the landslide is over, authorities turn to damage control
The real estate world is back online after a brief holiday respite, and we hope all of you are ready for the deals, data, and other goings-on in 2016. Here’s the biggest real estate headlines for Greater China today:
11 Arrested Over Shenzhen Landslide – 62 Still Missing
Authorities in southern China have arrested 11 people after a landslide at a construction waste dump last month killed 12 people and left 62 others missing, presumed dead.
Prosecutors in the southern city of Shenzhen said in a statement late Thursday that a dispatcher and supervisor of the landfill, the chief and deputy manager of a company in charge of the landfill, and seven other people were arrested. Read more>>
Mainland Leaders Vow to Destock Lower-Tier Housing Markets
Location, location, location. It is the mantra everyone knows in property investment.
Destocking, destocking, destocking. The top leaders in China have repeated it more than three times in the past month.
The message has got across: Selling down property inventories is one of the top priorities for policymakers next year. Read more>>
Shenzhen Now China’s Most Expensive Housing Market
Beijing and Shanghai have been toppled from their top-of-the-pyramid status in real estate by a seemingly unlikely candidate.
Shenzhen has stolen the crown as China’s most expensive housing market after a year of torrid price gains elevated the border city well above its tier-1 counterparts to the north. Read more>>
Home Prices Continue to Climb in December: Survey
The average housing price in 100 benchmark Chinese cities grew by almost one percent month on month in December, marking the fifth year-on-year and month-on-month rise in 2015, according to a property research organization on Friday.
The average new housing price of 100 major Chinese cities stood at 10,980 yuan (1,690.9 U.S.dollars) per square meter in December, up 0.74 percent compared with November, according to the China Index Academy. Read more>>
China’s Housing Renaissance Misses Smaller Cities
China’s nascent housing market recovery is a big city affair. For developers in the sticks, next year will be another desolate one.
Housing prices nationally in China gained 3.4% this year through November, recovering last year’s losses, based on figures from China Real Estate Index System, a real estate data provider. But the growth was disproportionately concentrated in so-called first tier cities—Beijing, Shanghai, Guangzhou and Shenzhen—where the average housing prices surge 15% this year. Prices in smaller cities fell 1.5% this year. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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