Apartments near Beijing school approaching RMB 100k Sqm – and more of Today’s China Real Estate Links | April 17, 2013

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

• Apartments near Beijing school approaching RMB 100k Sqm

  A residential district next to an elite primary school in Beijing was given the name “the centre of the universe” by Chinese netizens because of its unbelievable real estate prices. According to National Business Daily a 22 year old, 37 square metre residence in “the centre of the universe” sold for 3.5 million yuan (or approximately 95,000 yuan per square metre).
  Chinese housing prices have been skyrocketing over the past decade, especially in first tier cities like Beijing and Shanghai. This year, China’s State Council pledged to stabilize housing prices with new policies.

• China Home Sales Have Biggest First-Quarter Gain in 3 Years

  China’s home sales rose 69 percent in the first quarter as buyers rushed into the market before local governments implemented property curbs.
  The value of homes sold climbed to 1.2 trillion yuan ($194 billion) from a year earlier, China’s statistics bureau said today. That was the biggest first-quarter increase in three years. Overall real estate sales, including commercial buildings, rose 61 percent to 1.4 trillion yuan from last year.

• Property curbs raise concern over growth

  China’s real estate investment growth slowed in the first quarter of 2013, and some analysts expressed concern that rigorous property curbs may drag down economic growth.

  Despite a year-on-year increase of 20.2 percent in real estate investment in the first quarter of 2013, the growth rate was down 3.3 percentage points compared with the same period last year and 2.6 percentage points lower than the first two months this year, the National Bureau of Statistics said on Monday.

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