Soho Says No Commercial Property Oversupply – and more of today’s China Real Estate Links | February 4, 2013

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

• Soho’s Zhang Xin: ‘Factually Wrong’ to Say China Has Commercial Property Oversupply

  There’s no problem with oversupply in China’s commercial property sector, according to one of the country’s leading developers.

  “It’s factually wrong to say that there’s a problem with oversupply,” said Zhang Xin, Chief Executive Officer of Soho, one of China’s largest commercial real estate developers. The company recently switched from a build-to-sell to a build-to-hold strategy, hoping to capitalize on rising rents and asset prices.

• China Home Prices Jump in January

  HOME prices in China rose faster in January than in December, with nearly two-thirds of the cities monitored seeing gains.

  The average price of new residential properties across 100 major cities rose 1 percent from a month earlier to 9,812 yuan (US$1,557) per square meter, the China Index Academy said yesterday. That compared with December’s 0.23 percent increase.

  Thirty-eight of the 64 cities that posted gains saw an increase of more than 1 percent. In December, 57 cities posted gains, with 26 recording a rise of more than 1 percent.

• Developer joins ranks of China’s big boys

  Last year saw state-backed Poly Real Estate Group Co. Ltd. join an elite club.

  The Shanghai-listed company had contract sales of 101.7 billion yuan ($16.4 billion), making it the nation’s third developer to top the 100 billion yuan (US:USDCNY) mark.

  China Vanke Co. Ltd. (US:CVKEY) (CN:200002) remained housing king with sales of 141.2 billion yuan, a report by China Real Estate Information Corp.

This list is updated daily, so tune in again tomorrow for more up to date information, or subscribe to our daily email news digest to get this delivered to your mailbox.