Here is a list of the day’s latest China real estate news collected from around the web:
A bubble is forming in the commercial property markets of some of the country’s major cities, the head of an industry association warns.
Wang Yongping, secretary general of the China Commercial Real Estate Association, cited as examples Shenyang, Chengdu and Tianjin. “The supply is huge in these cities, but it is difficult for developers to find enough retailers and other businesses to lease to in the short term,” he said.
Since 2010, curbs enacted by the central government to cool the residential real estate market have spurred local governments to put more plots of land for commercial development onto the market.
A meltdown in China’s housing market is unlikely because government policies will keep rising prices in check, a Columbia University business conference was told.
“A crash is unlikely,” said Youguo Liang, former managing director of Prudential Real Estate Investors, a unit of New Jersey-based Prudential Financial Inc.
But, he cautioned, “You don’t know if there’s a bubble until it bursts.”
Chinese property developers are increasingly expanding their businesses abroad following Chinese people’s desires to purchase properties overseas.
Shanghai-based property developer Greenland Group is to invest A$480 million ($498 million) in an Australian property project, becoming the latest Chinese developer to explore an overseas market.