Here is a list of the day’s latest China real estate news collected from around the web:
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Needy EU Nations Woo Chinese Home Buyers
Southern Europe’s cash-strapped governments are courting wealthy Chinese homebuyers, seeking to bolster their battered real estate markets by offering visas to those who purchase prime properties.
Cyprus, Greece and Portugal are providing resident permits to foreign buyers, while Spain is about to adopt a similar measure. The chance to purchase a home at depressed prices in southern Europe and gain what’s known as a golden visa is mostly being sold to Chinese investors, according to brokers.
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Chinese Manufacturing Sector Unexpectedly Grows
A closely watched survey of manufacturing-sector activity in China on Thursday provided the latest indication that the world’s second-largest economy appears to have bottomed out after many months of slowing growth.
The early reading of the monthly purchasing managers’ index, compiled by the research firm Markit and released by the British bank HSBC, jumped to 50.1 points in August, from 47.7 in July, and easily beat analyst expectations. The increase, to a four-month high, also took the reading to just above 50 – the level that separates contraction and expansion.
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Chinese buyers prop up London property market
Chinese investors are buying up properties overseas. London has become one of their most favoured destinations. That comes as a welcome boost for the local real estate sector.
It used to be Russians, snapping up prized real estate in London. Now Asian home buyers, especially those from China, are the big spenders in London’s property market.
Industry insiders say a major attraction of the London property market is its high and stable rental returns, as much as five times the level seen in Beijing.
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Foreign private equity firms retry China property
FOREIGN private equity firms appear to be dipping their toes back into the residential real estate market in China, after a nearly four-year government campaign to rein in sky-high housing prices curbed the appetite for investment in the local housing market.
An Asia-focused real estate fund run by Blackstone Group made an offer this week to acquire Chinese property developer Tysan Holdings Ltd. for HK$2.5 billion (US$322 million).
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Residents angry over Beijing high speed rail link
People in Beijing living near the route of a high-speed railway line have rejected a revised construction plan that shortens the route, saying they still don’t know enough about how the project will affect their environment.
They want a new survey conducted on the impact of the link, which is part of the 700 kilometre railway under construction between the capital and Shenyang in Liaoning province.
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