China Housing Prices Flat in June – and more of today’s China Real Estate Links | July 19, 2012

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

• China Housing Prices Flat in June, Fresh Sign of Market Bottoming Out

  Average housing prices in 70 Chinese cities were flat in June from May, a government survey showed Wednesday, ending eight straight months of declines and offering yet another sign that the country’s real-estate market may have bottomed out.
  The National Bureau of Statistics survey also showed prices rose in some cities as the number of transactions picked up following interest-rate cuts and government efforts to boost sales and stimulate the economy.

• China’s June Home Prices Rebound as Sentiment Improves

  China’s new home prices in June rose in the most number of cities tracked by the government in 11 months as buyer sentiment improved after the central bank cut interest rates.
  Prices climbed in 25 cities out of the 70 the government looks at, the most since July last year. Prices fell in 21 from a month earlier, according to data released by the statistics bureau today.

• Luxury Loses as China Slowdown Reinforces Regime Change

  Rolex watches and bars of gold are often handed out by those seeking favors from business associates in China. Now the gift-givers are cutting back, and the luxury industry is holding its breath.
  Vivian So, a 38-year-old owner of beauty salons in Shanghai, said she had been giving Rolex watches to business contacts and is shifting to wallets. William Li, manager at Hong Kong’s King’s Watch Co., who used to see mainland customers buy HK$100,000 ($12,900) watches for official gifts, said many are picking brands that cost 40 percent less.

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