Here is a list of the day’s latest China real estate news collected from around the web:
- China Property Developers Said Looking Overseas As Rich Clients Buy Abroad
Chinese real estate developers have begun investing in projects outside of the country in order to meet growing demand for overseas property among rich customers, Hong Kong’s South China Morning Post reported today. Buyers are looking overseas because of restrictions on real investments in the mainland, or because of a wish to emigrate or own a vacation home, the newspaper said.
- China’s Housing Curbs Will Remain ‘Tight,’ Shui On’s Lee Says
The Chinese government’s curbs on the housing market will remain “tight” this year, preventing transactions and prices from rebounding significantly, according to Shui On Land Ltd. (272), the developer controlled by Hong Kong billionaire Vincent Lo. “The volume of transactions has increased and sentiment is improving, but any substantial turnaround is unlikely,” said Freddy Lee, chief executive officer of Shanghai-based Shui On, in an interview in Singapore yesterday.
- Prices hint at greater faith in real estate market
Concerns emerge that money making its way into property market to gain quick returns may lead to burst of bubble A number of recent commercial real estate deals with astounding bid prices suggest that developers are gaining confidence but are also giving rise to concerns that the money pouring into commercial property in search of a quick return will burst a bubble.
- Hang Lung Sees Opportunities in China Retail and Residential Real Estate
Property prices in China may have eased, but industry players say further tightening of the property market is unlikely and there are growth opportunities in China’s commercial and residential sectors. With its roots in Hong Kong, Hang Lung Properties has progressively branched out into China since the 1990s.
- Best Buy returns to China’s retail wars
US electronics retailer Best Buy Co opened its first Mobile store inside a Nanjing branch of its subsidiary Five Star Appliance Co, marking a comeback of the retailer after it quit the Chinese market in early 2011. The first Best Buy Mobile store in China, with a store-within-a-store (SWAS) concept, was opened in Five Star’s Liuhe branch in Nanjing, the capital of East China’s Jiangsu Province, and another store would also open within this week in Nanjing, Zhang Ke, director of Marketing & Brand Center of Jiangsu Five Star Appliance Co, told the Global Times yesterday.
- S&P:CEO’s resignation does not affect CCRE rating
Standard & Poor’s Ratings Services said today that its rating on Central China Real Estate Ltd. is not affected by the company’s appointment of a new CEO and authorized representative on June 26, 2012. CCRE’s former CEO resigned due to personal reasons.
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