Here is a list of the day’s latest China real estate news collected from around the web:
- Apple eyes new stores in two Chinese cities as iPad suit continues
Apple Inc is looking to open flagship stores in the major Chinese cities of Chengdu and Shenzhen, government officials said on Wednesday, while it continues to fight a Chinese company over the use of the iPad trademark. Opening stores in Shenzhen and Chengdu will be a big boost for Apple’s China business, which currently has only five stores on the mainland, three in Shanghai and two in Beijing.
- Gucci to Open Store in Chongqing
The mega-metropolis may have been in the news more for political controversy and intrigue than business over the past several months, but on June 18 the massive Chinese municipality of Chongqing — larger than Taiwan and nearly as populous as Canada — will see the opening of Gucci’s southwest China flagship. Covering 800 square meters and two floors, the new location at Golden Eagle Shopping Center will stock the full Gucci collection of leather goods, footwear, apparel, accessories and children’s clothing for the “Little Emperor.”
- Owning property leads to happier life: Say Chinese People Who Don’t Own Real Estate
A national survey showed that 60 percent of respondents believe that owning an apartment can lead to a happier life, but one in five do not have any property yet. The four Chinese cities with the highest GDP – Shanghai, Beijing, Guangzhou and Shenzhen – are the bottom four in a ranking of 40 major cities in the country based on the property-ownership rate, according to the survey conducted by the Real Estate Investment Research Center of Zhejiang University, the Tsinghua Media Survey Lab and China Xiaokang magazine.
- Sotheby’s International Realty Brand Expands Management Team in Asia
Sotheby’s International Realty Affiliates LLC today announced the expansion of its management team in Asia with the appointment of Calvin F. Wong as international development consultant and Kay Lee as director of marketing. In February 2012, the Sotheby’s International Realty(R) brand announced plans to expand its management team in Asia as part of a corporate initiative to further develop the company’s network of real estate affiliates there.
- Housing report notes rise in residential real estate sales
A sales report for May published by China’s largest real estate website has sounded an optimistic note on the country’s under-pressure housing market. The report, released on Tuesday by SouFun Holdings Ltd, suggests that after a long chill in new property sales, the majority of Chinese developers have recorded fresh peaks in May.
- Soho China Receives Summons Over Shanghai Bund Site
Beijing-based commercial property developer Soho China Ltd. 0410.HK +3.78% said it has received summons from a Shanghai court in a lawsuit initiated by the Shanghai-based conglomerate Fosun Group over a premium piece of land. Soho recently bought a 50% stake in a land project in Shanghai from units of Fosun’s former partners Greentown China Holdings Ltd. 3900.HK +6.02% and Shanghai Zendai Property Ltd. 0755.HK +1.74% for 4 billion Chinese Yuan dollars ($628 million).
- China’s Housing Ministry reaffirms property cooling policy
China’s main real estate regulator reaffirmed its commitment to maintaining current restrictions on property sales on Wednesday, the official Xinhua news service reported, as Beijing continues to resist calls for wider easing to offset a slowing economy.