Land Prices Reach Record Levels in Shanghai and Beijing – and more of Today’s China Real Estate Headlines | November 29, 2012

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

• Land price at record high in Beijing, Shanghai

  China’s property market continued to warm up as land was sold at a record high price in Beijing and Shanghai and property developers accelerated their land hoarding rate.

  On Tuesday, a parcel of land in Shanghai’s bund was sold for 2.77 billion yuan ($445 million), which equates to 36,000 yuan per square meter. This was the highest land price for Shanghai’s land market this year.

• Chinese Developers Try the U.S

  A Chinese company listed on the New York Stock Exchange is beginning to develop residential property in the U.S., hoping to tap into the hot demand among Chinese investors for U.S. apartments.

  Xinyuan Real Estate Co. XIN +3.28% purchased a site last month in Williamsburg, in the New York City borough of Brooklyn, for its first development in the U.S., a 216-unit condominium building. The company also is scouting for other U.S. projects, planning to sell about 40% of the units it builds to Chinese investors.

• Home Sales Up by 30 Percent, Says Consultancy

  New home sales across major cities in China jumped by 30 percent in November, according Centaline Group Research Center, a Shanghai-based real estate consultancy.
  In a survey of 54 major cities, Centaline said 236,295 new homes were sold in the first 25 days of November, surging to a two-year high.

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.