Wen Eases Off as China’s Cities Seek to Revive Home Sales – and more of Today’s China Real Estate Links | July 4, 2012

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

• Wen Eases Off as China’s Cities Seek to Revive Home Sales

  Liu Xuejun, a building-equipment dealer, couldn’t restock his Shanghai showroom fast enough in 2009 as he sold an excavator every three days. Now he might wait six months between sales. “Scheduled property construction work just doesn’t kick off,” said Liu, 41, as he stood amid dozens of yellow excavators and wheel loaders in the showroom of Shanghai Wo You Construction Machinery Co. on the eastern outskirts of the city.

• China June loans fell short of forecasts: reports

  Banks in China likely issued far fewer new yuan loans in June than what analysts had expected, local media reported Tuesday, in another worrying sign of a slowing economy and weak corporate appetite for borrowing. The reports coincided with a front-page commentary in the state-run China Securities Journal, which called for Beijing to cut the level of reserves commercial lenders must keep at the central bank in a bid to ease an ongoing liquidity crunch in the financial system.

• Shanghai’s land sales weak in H1

  SHANGHAI’S land market remained weak in the first half of this year despite a rise in purchases by developers last month, an industry report said yesterday. Land parcels, designated for all types of developments except public use, were sold for 14.665 billion yuan (US$2.32 billion) between January and June, an annual plunge of 67 percent and down 80 percent from the second half of 2011, according to data released by Soufun.com, a real estate website.

• China Non-Manufacturing Gauge Shows Faster Expansion in June

  China’s non-manufacturing industries expanded at a faster pace in June as the property market and new orders picked up, an official survey indicated. The purchasing managers’ index rose to a three-month high of 56.7 in June from 55.2 in May, the National Bureau of Statistics and China Federation of Logistics and Purchasing said in Beijing today.

• SPG Land Sells Property Project to Evergrande Real Estate for About CNY965.7 Million

  Property developer SPG Land Holdings Ltd. (0337.HK) said Tuesday it agreed to sell a real-estate project in Wuxi city, Jiangsu province, to a subsidiary of Evergrande Real Estate Group Ltd. (0337.HK) for about 965.7 million yuan ($152 million). The project, located south of Taihu Dadao in the city’s Xishan district, has a total site area of about 263,300 square meters, Shanghai-based SPG Land said in a stock exchange filing.

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