Here is a list of the day’s latest China real estate news collected from around the web:
China’s central bank pledged support for first-home buyers as a crackdown on real-estate speculation threatens to trigger a property slump in the world’s second- biggest economy.Officials will increase support for construction of affordable housing and ensure that “loan demand from first-home families” is met, the People’s Bank of China said on its website yesterday.
Poly Real Estate Group, China’s second largest property developer by market value, said Wednesday that its home sales fell 69.35 percent year-on-year to 1.51 billion yuan ($239.68 million) in January.
Transaction area dropped 74.69 percent from one year earlier to 125,000 square meters last month, the developer said in a statement filed to the Shanghai Stock Exchange.
SOHO China, a real estate developer that concentrates on projects in Beijing and Shanghai, said on Wednesday it had set its sales target for 2012 at 23 billion yuan ($3.65 billion).That’s an increase of 15 percent on its 2011 target of 20 billion yuan target.
Jinsong Du, a Hong Kong-based property analyst at Credit Suisse Group AG, talks about China’s real estate market, the government’s efforts to make housing affordable, and developers’ stocks. He speaks with Rishaad Salamat on Bloomberg Television’s “On the Move Asia.”
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