Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Karen Xu, a Shanghai resident looking to invest in U.S. real estate, decided this spring to seek a Miami one-bedroom condominium in the $500,000-to-$750,000 price range.
China’s economic slowdown has since changed her mind. “I don’t think I’ll be investing in the U.S. right now,” said Ms. Xu, who works at an investment consulting firm. “Maybe I’ll wait another five years, or invest in China.” Read more>>
As analysts start turning bearish on Hong Kong home prices, the commercial property market is showing no signs of cooling, with Chinese companies shelling out record amounts for trophy buildings.
Sellers have reached out to potential buyers including Industrial & Commercial Bank of China Ltd., Bank of Communications Co. and Fosun International Ltd., according to brokers who asked not to be named because the information is private. Read more>>
Moody’s Investors Service expects nationwide property sales growth in China (Aa3 stable) to exceed 10% for the full-year 2015, but to slow to a modest 0%-5% in 2016, as the effect of supportive monetary and regulatory policies will have been largely reflected in 2015 sales.
“We believe the positive sales momentum seen this year – with national sales up 18.0% year on year in January-October 2015 — is the result of the supportive government policies implemented since 2H 2014,” says Kaven Tsang, a Moody’s Vice President and Senior Credit Officer. Read more>>
Mainland developers may see their share prices outperform the Hang Seng Index in the first half of next year, with total home sales hitting a historic high during 2016, Citibank said yesterday.
A quick rebound in home prices in second-tier cities and more government stimulus such as tax cuts are the two driving forces for the industry, Citibank said in a 264-page report out yesterday. Read more>>
There goes a 3-foot Elsa with verve, walking through South Coast Plaza on Halloween afternoon, passing Sears and Din Tai Fung before getting on the escalator down to go to Uniqlo. A Minnie Mouse and an astronaut flank her; behind the trio are two adults–a man dressed in chinos and a casual button-up shirt, and a woman in a simple top and black pants–watching diligently as their children go from store to store for candy.
They mix with the regular Saturday mall-going crowd. But as Elsa’s family reaches the bottom of the escalator, the father and mother pull their wards to the side and speak to them in Mandarin. Read more>>
Shanghai plans to sell 6.96 billion yuan ($1.09 billion) of bonds backed by local government-managed funds that provide mortgages as China seeks to boost home sales and clear a nationwide property oversupply.
Shanghai Provident Fund Management Center plans to issue the securities on Dec. 4, according to statements on the Shanghai Clearing House website on Friday. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.