Here is a list of the day’s latest China real estate news collected from around the web:
Office deals dominate Shanghai real estate
Office building transactions continue to dominate Shanghai’s real estate market, which saw continued increases in rental levels and trading volumes, and growing interest from local investors, according to the latest commercial property report on China by the international property services firm DTZ. Transactions involving office buildings accounted for as much as 73 percent of the real estate volume in the first half of 2012 in the city, according to the report which was released on Tuesday.
Wang Jianlin of China’s Wanda Group upbeat on AMC deal, expansion
The Chinese tycoon Wang Jianlin proudly pointed to the sweeping abstract painting of the Great Wall hanging in his marble-walled office.”It cost more than you can imagine,” said the 57-year-old head of Dalian Wanda Group, China’s largest private company.Already a massive collector of Chinese art, Wang, who counts an executive jet and an 80-foot yacht among his personal prizes, is China’s 11th-richest man and poised to acquire his biggest trophy yet.
China Land Market Defrosts
China’s land market is showing signs of activity as developers regain an appetite for buying after months on the sidelines.Over the past two months, as sales in the property market have climbed and inventories dropped, better-financed developers have been replenishing their land banks, though the pace is far below average historical levels.
China Slowdown Cuts Luxury Spending, Hong Kong Retailing
China’s slowdown dragged Hong Kong’s retail-sales growth to the weakest pace since 2009 as shoppers visiting from the mainland cut back on purchases of luxury goods such as jewelry and watches. Sales increased 8.8 percent in May from a year earlier to HK$36 billion ($4.6 billion), the government said yesterday.
China Stocks Rise for Third Day on Policy, Property Speculation
China’s stocks rose for a third day as a pick-up in the property market helped the nation’s service industries expand at a faster pace and speculation grew the government will further ease monetary policy. China Vanke Co. led a gauge of property developers to the biggest gain in three weeks, as the China Securities Journal reported the central bank may make cutting lenders’ reserve ratios the top choice for increasing liquidity.
Real Estate Prices Rise in China
China’s battered real-estate market appears to be turning around, strengthening an important pillar of growth and reducing the chances that China’s slowing economy will stall in the second half of the year. According to a survey of property developers and real-estate firms, the average price of housing in 100 major Chinese cities rose in June from the previous month, after nine straight months of decline.
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