Developer Shunfa Hengye Eyes International Market – and more of Today’s China Real Estate Links | April 1, 2013

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

• Developer Shunfa Hengye Eyes International Market

  Shunfa Hengye, the real estate development arm of Chinese auto parts billionaire Lu Guanqiu’s Wanxiang Group, is looking to expand abroad this year, according to a statement by the company.

  Shunfa Hengye will work to “accelerate” its “international transformation,” the company said,  and “go out” from the domestic market.

• Chinese investors set sights on Greek property

  The property price slump in Greece, fueled by the ongoing financial crisis, has started to attract Chinese investment.

  “Some Chinese businessmen have shown an interest in investing in Greek property, such as investing in hotels, or buying pieces of land on Greek islands,” the Mayor of Athens, Georgios Kaminis, said on Friday.

  Property, mainly residential apartments, accounts for about 80 percent of household wealth in Greece. Prices tumbled 28 percent from their peak in 2008 when the country’s economic contraction set in, according to data from the Greek central bank.

• SouFun Leads Drop by China Property Stocks

  Chinese equities retreated in New York, capping their first slump in three quarters, on concern new limits on wealth-management products will reduce bank lending to real estate companies.
  The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese stocks in the U.S. slipped 0.7 percent to 92.2 yesterday, for a 7 percent decline this quarter. SouFun Holdings Ltd. (SFUN), China’s biggest real estate information website, and property agent E-House China Holdings Ltd. (EJ) both dropped the most in two weeks.

• Sunac Real Estate Completes Housing Projects Totaling the Size of Manhattan

  On March 20, 2013, Sunac Real Estate (1918.HK) (“Sunac”) held a ceremony to commemorate the completion of a large urban complex in Chongqing, China, Sunac Olympic Garden, which was attended by about 300 representatives of local businesses, banks and media. In 2012, Sunac Olympic Garden Phase 13, Sunac Jinmao Times South Area, was successfully completed, achieving total market sales of 220,000 m2. In 2013, Sunac Jinmao Times North Area, with nearly 240,000 m2 of commercial space and with immediate, adjoining 170,000 m2 high-rises, will be completed, and will be gradually marketed.

• As the Pace of China’s Junk Bond Sales Grows, So Do Worries

  It has an all-too-familiar ring. Investors in search of better interest rates rush to risky, high-yield bonds, raising worries that the market is overheated.

  But the concerns — which have already been voiced about the $120 billion of European and American junk bonds issued this year — are now being applied to the fledgling Chinese market.

This list is updated daily, so tune in again tomorrow for more up to date information.