Investment Risks – Chinese Tycoon Killed Flying Over New Vineyard – Today’s China Real Estate Links | December 23, 2013

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

• Investment Risks – Chinese Tycoon Killed Flying Over New Vineyard

  Four people were feared dead including a Chinese billionaire and his 12-year-old son after the helicopter in which he was surveying his newly purchased French vineyard crashed into a river.

  The Hong Kong-based Chinese billionaire Lam Kok, 46, owner of the Brilliant Group, was in the helicopter surveying the 65-hectare vineyard in Bordeaux, Chateau de la Riviere, one of the oldest chateaus, which he had just purchased with great fanfare.

• Shanghai to Allow Foreign Medical Centres in Free Trade Zone

  Shanghai Health and Family Planning Commission said yesterday it is encouraging health professionals at state-owned hospitals to work at private medical facilities, while also encouraging foreign investors to set up fully owned units at the Shanghai free trade zone.

  Currently, only those from Hong Kong, Taiwan and Macau can set up solely invested medical facilities in certain provinces and cities on the mainland, while foreign investors need local partners to set up joint venture facilities.

• China Buys Big in Bordeaux Wineries

  Bordeaux has long welcomed new investors in its wine business, be they English, Dutch, German, American or Japanese. In the past decade, the Chinese have become the dominant foreign investors in the region, though it is impossible to accurately calculate how many properties they’ve bought. Karin Maxwell, sales director at real estate broker Maxwell-Storrie-Baynes, estimated that more than 60 châteaus will be Chinese-owned by the end of 2013. Maxwell, whose agency has a dedicated “China desk,” said there have been more than 20 transactions during the last 12 months.

  Bordeaux is an attractive investment, especially because demand for even low-priced Bordeaux wines remains strong in China. Châteaus are also an attractive asset for successful Chinese business leaders looking to invest in property outside Hong Kong and mainland China’s high-priced real estate markets.

• China Aims for Six Million Public Homes in 2014

  China aims to start building at least 6 million units of public housing next year, state media said on Saturday, reinforcing a government effort to supply more low-cost homes to counter record property prices.
  But next year’s target is lower than the 2013 objective, even though China built more public homes this year than it had planned, Xinhua said, citing the Ministry of Housing and Urban-Rural Development.

• China Local, Central Govt Real Estate Numbers at Odds

  China’s top statistics agency and the local government of a megacity in South China have posted dramatically different prices for homes in that city, the New Express reported Friday, causing the public to question the validity of property price figures released by the authorities.

  The National Bureau of Statistics (NBS) said Wednesday that Guangzhou, capital of South China’s Guangdong Province, saw a 20.9 percent year-on-year rise and a 0.8 percent month-on-month gain in new home prices in November.

• Fosun finalizes deal to acquire New York landmark

  Chinese conglomerate Fosun International finalized a deal on Dec. 18 to acquire the One Chase Manhattan Plaza in New York from JPMorgan Chase for US$725 million, according to the Beijing-based Securities Daily.

  The acquisition, made by Fosun International chairman Guo Guangchang, is being seen as the largest purchase and investment by a Chinese company in New York real estate.

• Cushman & Wakefield Forecasts 2014 Asia Office Demand At 60 MSF

  Cushman & Wakefield, the world’s largest privately held commercial real estate services firm, in its latest Asia Office Forecast report, ’14 for 2014 – Top Trends to Watch’, highlighted the healthy demand forecasted for office space across Asia in 2014. Cushman & Wakefield forecasted that the office demand is likely to reach 60 million square feet (msf) in all 30 major cities tracked within Asia Pacific.

  Sigrid Zialcita, Managing Director of Research for Asia Pacific said, “The relatively favorable macroeconomic climate should continue to buoy employment and ensure healthy demand for office space across the region.

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

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