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