Here is a list of the day’s latest China real estate news collected from around the web:
-
China grade A office rents under pressure after years of growth
China’s grade A office rent is under pressure this year because of its already high base, weakening demand and rising supply in some cities, industry analysts said.
Beijing grade A office rents edged downward for the first time in three years, as demand slowed. The decline follows rises for more than three years, according to a report by Jones Lang LaSalle (JLL).
Rents in the overall market edged down 2 percent quarter-on-quarter in the first quarter to 337 yuan ($54) per square meter per month, the first decline since the third quarter of 2009, the report showed.
-
China April Home Sales Fall 13% as Property Curbs Take Toll
China’s home sales transaction value fell 13 percent in April from the previous month as the government’s new property curbs started to take effect.
The value of homes sold declined to 494.6 billion yuan ($80 billion) from 569.4 billion yuan in March, according to the difference between National Statistics Bureau data for the first four months of the year and the first quarter. The value of sales from January to April rose 65 percent to 1.69 trillion yuan from a year earlier, the data showed.
-
Vineyards By Christie’s Helps Wealthy Chinese Acquire Properties
Christie’s auction house has opened what it’s calling the first estate agency where wealthy Chinese can snatch up not just a fine bottle of wine, but the vineyard where it came from, too.Vineyards by Christie’s International Real Estate brings together Christie’s fine-wine experts and the network’s luxury-property specialists “to offer a discrete consultative service for clients looking to acquire vineyards in the world’s most sought-after wine regions.”
-
China investigates top planning official for graft
Chinese authorities have launched an investigation into a powerful economic planning official accused by a prominent journalist of corruption, the latest high-level target of the new leadership’s anti-graft drive.
The ruling Communist Party’s disciplinary agency said in a one-sentence statement on its website that Liu Tienan, deputy head of the Cabinet’s National Development and Reform Commission, is being investigated for “suspected serious disciplinary violations.”
-
Investors in Asia dumping gold, doubling down on property
As central banks print cash to boost moribund economies, investors in Asia wanting to hedge against rising prices are dumping gold and doubling down on property. They are driven by the search for yield as surprisingly benign inflation dims the appeal of bullion, but it’s a risky play given lofty valuations for real estate.
The trend is most visible in the frenzy around real estate investment trusts (REITs) in Asia, where issuance ex-Japan more than quadrupled to $4.33 billion through early May from the same period last year and valuations are at their highest since before the 2008 financial crisis.
-
China’s Stocks Drop as Economic Concerns Overshadow IPO Report
China’s stocks fell as economic reports overshadowed speculation the government will postpone the resumption of initial public offerings. A gauge of consumer-discretionary stocks dropped the most in two weeks.
Automakers SAIC Motor Corp. and Great Wall Motor Co. led declines for consumer companies reliant on economic growth, tumbling at least 3 percent. A report today showed industrial production growth in April trailed economists’ estimates, while retail sales slowed from the previous month.
Leave a Reply