China Vanke May property sales up 32 pct, growth rate slows – and more of Today’s China Real Estate Links | June 6, 2013

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

• China Vanke May property sales up 32 pct, growth rate slows

  China Vanke, the country’s largest real estate developer, said Tuesday that it sold 14.16 billion yuan ($2.3 billion) worth of property in May, up 32.1 percent from the previous year.

  The company posted a 67.6 percent increase in sales in April.

  It has sold 6 million square metres worth 70.2 billion yuan in the first five months of 2013.

  Growth in real estate investment in China has quickened in 2013 as developers take advantage of improved liquidity conditions, although property sales slowed slightly in April due to continuing government curbs.

• Property prices rising in major cities

  Property prices in China’s major cities continued to rise on a monthly and yearly basis in May, indicating pressure for further increases despite government’s rigorous price-control measures.

  The average price of new homes in 100 cities monitored was 10,180 yuan ($1,642) per square meter in May, up 0.81 percent on the previous month, according to figures released on Monday by China Index Academy, a Beijing-based real estate research institute.

  It was the 12th consecutive price increase month-on-month. However, the growth rate fell 0.19 percentage points from April.

• Rebar Declines on Concern Supply Will Outstrip Demand in China

  Steel reinforcement-bar futures in Shanghai fell on concern that supply will continue to outstrip demand.

  Rebar for delivery in October on the Shanghai Futures Exchange fell as much as 0.5 percent to 3,467 yuan ($566) a metric ton and was at 3,474 at 10:13 a.m. local time. Futures gained 2 percent yesterday after falling for a fourth month in May.

• ‘Land kings’ re-emerge in Chinese buying spree

  Sales volumes in China’s land market are on the rise, with the re-emergence of “land kings” in key cities.

  “Land sales in China have been hot and in the last few weeks we have been hearing of high-profile land acquisitions by developers across the country, or the emergence of new land kings, especially in tier-one and tier-two cities,” said Alan Jin, an analyst at Mizuho Securities.

  “Land kings” refers to a term for land transactions at record prices. Bigger and smaller players are entering the fray, added Jin.

• Colliers International: Global Office Markets Search for Economic Equilibrium

  According to a new Global Office report by Colliers International, global markets are aiming for a state of economic equilibrium between supply and demand after weathering challenges in China, the U.S. and Europe. While some markets appear to still be lagging, the majority are experiencing more stability than they have in some time.

  “Office markets around the world have survived the challenges of a slowing Chinese economy, a mixed American recovery, and a European market that is still finding its economic footing,” said James Cook, Director of Research at Colliers International. “Now, for the first time in several years, we’re experiencing balance on a global level.”

This list is updated daily, so tune in again tomorrow for more up to date information.