Here is a list of the day’s latest China real estate news collected from around the web:
- China Home Prices Fall in More Than Half Cities Tracked
China’s home prices fell to a 16- month low in May as officials pledged to keep property curbs that have sapped buyer demand, according to SouFun Holdings Ltd. (SFUN) (SFUN), the nation’s biggest real estate website owner. Home prices declined 0.3 percent from April to 8,684 yuan ($1,364) per square meter (10.76 square feet), SouFun said in an e-mailed statement today, based on its survey of 100 cities in the country.
- Manufacturing Index Fell More Than Expected in May
A key measure of Chinese manufacturing activity fell more than analysts expected on Friday, underscoring the economy’s weakness and raising expectations that the government will step up a stimulus program to revive it. The government’s purchasing managers’ index dropped to 50.4 points in May, down from 53.3 in April, the China Federation of Logistics & Purchasing and the National Bureau of Statistics said.
- Discounts drive up Shanghai home sales
NEW home sales in Shanghai soared to the highest in a year in May as developers offered discounts to unload inventories, according to the latest market research. Purchases of new homes, excluding government-funded affordable housing, rose 32 percent from April to 806,000 square meters last month, the highest since June 2011, Shanghai Deovolente Realty Co said in a report yesterday.