Here is a list of the day’s latest China real estate news collected from around the web:
- Grand Ocean, A Taiwan Department Store Chain In China, Is Expected To List In Taipei On June 6
Grand Ocean Retail Group, one of the largest Taiwan-backed department store chains in the mainland, is expected to list its shares at the Taiwan Stock Exchange on June 6, industry executives said. Prior to its IPO, the company’s main shareholder with a 52% stake is First Steamship, a Taiwan-listed shipping company. Goldman holds a 3% stake in Grand Ocean.
- Chinese Developers Bet Big on Outlet Malls
Retail outlet companies are trying to reverse the trend of Chinese shoppers flying overseas to shop for luxury goods. The number of affluent Chinese who are flying overseas in the hunt for luxury goods is soaring, mostly because prices for high-end items are higher on the Chinese mainland due to import tariffs.
- Buyers from China lose property top spot
Buyers from China have lost pole position among foreign purchasers of Singapore property in the wake of December’s tough cooling measures. Mainland buyers, and other foreigners, have fled the local market in droves, stung by a hefty 10 per cent additional stamp duty.
- Chinese Interest in Australian Real Estate Still Strong
FOREIGN investors are still attracted to Australia, despite the federal government’s decision to double withholding taxes for international investors. In the budget, the Gillard government doubled withholding taxes on distributions made to international investors who place their savings with Australian fund managers.