Here is a list of the day’s latest China real estate news collected from around the web:
-
JLL Predicts 30% Jump in China Outbound Investment
Chinese investors are looking abroad for high-return opportunities as domestic economic growth slows and the yuan continues to strengthen, a study said.
A report released on Tuesday by real estate services firm Jones Lang LaSalle estimated that China’s overseas investment will maintain a 30 percent growth rate in 2013, with real estate as a main investment target.
-
Shanghai Real Estate Agent Gets Six Months for Faking Documents
A real estate agent has been sentenced to six months of probation for forging official documents to help his clients close an illicit apartment sale, Pudong New Area People’s Court said Tuesday.
The defendant, surnamed Shen, was hired in 2012 by an apartment owner, surnamed Zheng, and a prospective buyer, surnamed Zhu, to help them circumvent the rules governing the sale of relocation apartments.
Zhu met Zheng in 2012 while she was looking for another apartment to buy in her residential compound. The two came to an agreement, but could not close the deal because Zheng received the apartment from the government as relocation compensation. Under the city’s housing regulations, homeowners must wait at least three years before they can sell relocation apartments.
-
H1 sales up for top developers: paper
China’s four leading property developers by revenue saw their combined sales climb to 187 billion yuan ($30.55 billion) over the first half of 2013, according to a report published Tuesday in the Economic Information Daily.
Analysts frequently look to the financial results of the developers in question – China Merchants Property Development Co (CMPD), China Vanke, Gemdale Corporation and Poly Property Group Co – to gauge the climate in China’s property market.
-
Home prices surge in district of Zhuhai close to Hengqin development
The proposed transformation of Hengqin, the largest of Zhuhai’s 146 islands, into a high-end holiday destination has put the “City of Romance” back on the radar for investors.
Home prices in Zhuhai’s Jinwan district are rising rapidly because of its proximity to Hengqin, say agents.
“Residential prices in Jinwan have risen by 10 to 15 per cent over the past year while prices in other districts have remained flat,” said Zhang Mian, marketing manager at the Zhuhai branch of Hopefluent property agency.
-
Across China, Skyscrapers Brush the Heavens
China is slowing down, but the buildings keep going up — until now.
China is home to 60 of the world’s 100 tallest buildings now under construction. But the skyward aspirations of Changsha, the capital of Hunan province, have inspired incredulity tinged with hostility.
Broad Group, a manufacturer based here in Changsha, has been planning to erect the world’s tallest building here this winter, and in record time. The 202-story “Sky City” is supposed to be assembled in only four months from factory-built modules of steel and concrete early next year on the city’s outskirts. The digging of foundations began on July 20.
-
Real estate top wealth creator in Pearl River Delta
Despite the central government’s tightening policies in the property market, the real estate sector still generates the largest number of billionaires in southern China, according to the Hurun 2013 Pearl River Delta Region Rich List.
This is the first time that the Hurun Report, a Shanghai-based magazine that covers wealthy Chinese people, releases a list for the region.
About 24 percent of the billionaires in the Pearl River region, which includes Shenzhen, Guangzhou, Dongguan, Foshan, Zhongshan, Zhuhai and Huizhou, come from the property industry, while 15 percent are in the manufacturing industry.
-
Domestic Developers Following Chinese Buyers Overseas
Spurred by tightening real estate controls in the domestic market, Chinese real estate developers are increasingly looking for development opportunities overseas. Data from China Overseas Investment show that since 2012, Chinese mainland developers have invested more than US$ 10 billion in overseas real estate projects (including projects that have been identified in investment plans).
At the same time, Chinese investors are also increasingly gobbling up properties in the developed markets of North America, Europe and Australia. According to market research firm Dealogic, Chinese investors’ overseas real estate transaction volume soared 46 percent from US$ 547 million in 2011 to US$ 1.86 billion in 2012, a pace which has so far been kept up this year.
Digest powered by RSS Digest
Leave a Reply