China Property Market Grew in 2012 – and more of Today’s China Real Estate Links | January 21, 2013

Here is a list of the day’s latest China real estate news collected from around the web:

• China Property Market Grew in 2012

  China’s property market improved slightly in 2012 on the back of a pickup in housing sales in the second half of the year and expectations of rising home prices.

  But industry observers said a number of factors are still holding back this important driver of China’s economic growth.

  Average property prices in 70 major Chinese cities rose 0.31% in December from November, the fastest pace in nearly two years, according to official data released Friday.

• Speyer Speaks Out on China Strategy in Fudan Talk

  Overseas real estate giants are rethinking their strategies as they move their operations to China, according to a top US property executive.

  The change of thinking is needed for them to better involve themselves in the Chinese economy and real estate market in the future, said Rob Speyer, co-CEO and president of Tishman Speyer, a US-based real estate building and operating company.

  “Looking into the future, we are ready to embrace the China market even more,” Speyer told a forum hosted by Fudan University School of Management in Shanghai.

• Chinese Billionaire’s Evergrande Sells Shares At 6% Discount

  Evergrande Real Estate Group, the real estate developer controlled by Chinese billionaire Hui Ka Yan, has agreed to sell one billion new shares in the Guangzhou-based company at a price of HK$4.35 each, according to a statement by the company yesterday after the close of trading at the Hong Kong Stock Exchange. That’s a discount of 6.5% from yesterday’s close.

  The new shares represent a 6.2% stake in the expanded share capital of the company.  Evergrande says it’s selling the stock to expand its capital and shareholder base.

• China’s Economy Is on the Mend, but Concerns Remain

  In a sign that a recovery is picking up speed, China’s economy grew 7.9 percent in the last quarter of 2012, the first acceleration in two years, and faster than the 7.8 percent rise predicted in a survey of economists. The expansion was up significantly from the previous quarter’s 7.4 percent, China’s National Bureau of Statistics announced on Friday.

  That put full-year growth at 7.8 percent, the slowest since 1999, but well above the official target of 7.5 percent, set by outgoing premier Wen Jiabao in March 2012.

• Most Chinese cities see rise in home prices

  Over half of China’s major cities saw a rise in home prices in December, on both a yearly and monthly basis, according to official figures released on Friday.

  Of the 70 major cities monitored, 40 saw property prices rise year-on-year, compared with just 18 in November.

This list is updated daily, so tune in again tomorrow for more up to date information, or subscribe to our daily email news digest to get this delivered to your mailbox.