Here is a list of the day’s latest China real estate news collected from around the web:
- China cheap housing drive no cure-all for economy
At work on their computers in their quilted pajamas and fuzzy slippers, Han Zhixiang and his wife look the picture of newlywed contentment in the “affordable housing” apartment they sometimes share with her parents. Their home in “Neighbor Gardens” is one of millions of subsidized apartments already built or under construction in China.
- China Struggles to Force SOEs from Real Estate Sector
China’s state-owned assets regulator decided two years ago that there were too many cooks in the kitchen when it came to investment in the property market.
But removing the glut in real estate investment by state-owned enterprises hasn’t been easy, largely due to the ease of hiding such investments under complex shareholding structures.
- Guangzhou rents high, despite widespread vacancies
Prime office buildings in Guangzhou, the capital city of Guangdong province, have not been selling well and rent costs, despite the vacancy rate, remained high in the first quarter of the year.
A report on Wednesday blamed that situation partly on foreign corporations’ slower expansion. - Beijing High-End Housing Market Recovers
The average transaction price of high-end residential housing in Beijing rose 15.26 percent quarter-on-quarter to 48,600 yuan per square meter in the first quarter, while transaction area hit 54,500 square meters, reports 163.com, citing DTZ Holdings.
DTZ defines high-end residential housing as those which cost more than 40,000 yuan per square meter.
According to DTZ, the average transaction price of high-end residential housing in Beijing in the third quarter last year dropped 0.8 percent from the last quarter to 41,700 yuan per square meter.
- China growth seen slower in 2012, recovery mild: World Bank
The World Bank cut its forecast for China’s 2012 economic growth to 8.2 percent on Thursday and said a rebound might not begin before the third quarter of the year as slack foreign demand and a government-induced real estate slowdown restrain a recovery.
- China’s New Yuan Loans Surge as Money Supply Accelerates
China’s new yuan loans were the most in a year and money-supply growth quickened after Premier Wen Jiabao moved to bolster the economy by cutting banks’ required reserves and helping smaller businesses get financing. Local-currency-denominated loans were 1.01 trillion yuan ($160.1 billion) in March, the People’s Bank of China said today, exceeding all 28 estimates in a Bloomberg News survey.
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