Here is a list of the day’s latest China real estate news collected from around the web:
- Fosun Group CEO: Would Have Bought 50% Stake in Project at Soho China’s Offer Price
Fosun Group would have acquired the remaining 50% stake of a disputed land project in Shanghai at the price rival Soho China Ltd. (0410.HK) paid to secure the investment from two former shareholders of the project, Fosun’s chief executive, Liang Xinjun, said Monday. In an interview with Dow Jones Newswires, Mr. Liang said the Shanghai-based Chinese conglomerate’s rights to the project are “assured” because the company remains its controlling shareholder.
- China May Ease Property Curbs for Growth, Deutsche Bank Says
China may relax its property curbs to encourage end users to buy homes as the government seeks to support economic growth, according to Deutsche Bank AG. More “fine-tuning” by local governments of real-estate tightening measures is expected because of continued weakness in land sales and the resulting financial pressures, Tony Tsang and Jason Ching, Hong Kong-based analysts at Deutsche Bank, said in a note to clients. Some homebuyers were convinced that the market had bottomed after about 40 cities adjusted local property restrictions to encourage spending, Centaline, China’s biggest real-estate brokerage, said in the report. The central government’s tolerance of local authorities’ attempts to loosen property curbs is growing as home prices decline, according to CEBM Group Ltd., an investment-advisory firm.
- China Non-Manufacturing Industries Growth Eases
China’s non-manufacturing industries expanded at the slowest pace in more than a year, as export orders declined and weakness in real estate countered strength in retailing and leasing, an official survey indicated. The purchasing managers’ index fell to 55.2 in May from 56.1 in April, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday in Beijing.
- China: The Return Of Fixed Asset Investment
China’s weak economic data on Friday points to a return to fixed asset investment after a year long decline. May’s official purchasing managers index, or PMI, came in weaker than expected. While the low National Bureau of Statistics’ PMI print partly reflects the typical seasonal month over month decline in May, the across-the-board weakness in the PMIs and accompanying weak new loan data both point to further slowing in domestic and external demand.
- China real estate unlikely to rebound: report
Despite rising transaction volume, prices for China’s real-estate market are unlikely to rebound, China’s state-controlled news agency Xinhua said in a Saturday commentary. The commentary said housing price increases in tier-1 cities and rising sale volumes have led some to worry new stimulus measures taken by the government as the economy slows could push housing prices up rapidly.
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