Chinese Buyers Backing Off from Vancouver Real Estate – Today’s China Real Estate Links | November 11, 2013

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

• Chinese Buyers Backing Off from Vancouver Real Estate

  A tight supply of commercial real estate in Vancouver and across Canada limited sales activity from January to June 2013 – with the exception of the Greater Toronto area, Winnipeg and, surprisingly, Hamilton-Burlington, for years an investment wallflower, according to RE/MAX’s Commercial Investor 2013 report.

  Vancouver prices escalated strongly from 2010 to 2012, only to start slowing down in mid- to late 2012, partly “as a result of Chinese investments plateauing,” says Elton Ash, RE/MAX’s regional executive vice president, Western Canada. “The Chinese realized they were pushing market themselves, bidding against each other. Since then, we’ve had stabilization.”

• Zhangjiang Developer Lets Buyers Pay with Bitcoin

  Bitcoin acceptance in China has now extended into real estate with a residential developer in Zhangjiang Hi-Tech park in Shanghai finding a new way to promote sales through the acceptance of Bitcoin virtual currency.

  Shanda Group, one of the large IT giants in China, through its real estate development arm, opened sales of its first real estate investment project on October 25th, 2013. 300 apartments in the soon to be built buildings ranging from 42-81sqm were available for sale and sold out in a few minutes as demand far outstripped supply.

• China Jan-Oct Property Investment Up 19.2 Pct in 2013

  China’s real estate investment rose 19.2 percent in the first ten months of 2013 from the same period a year earlier, while revenue from property sales rose 32.3 percent, the National Bureau of Statistics said on Saturday.

  The rise in investment compares with an increase of 19.7 percent for January to September, while the increase in revenue compares with a 33.9 percent rise in January to September.

• China and Singapore Developers Dominate Regional Property Awards

  The winners of this year’s MIPIM Asia property awards have been announced – and judges say the standard is higher than ever.
  Chinese and Singapore developments each picked up three gold awards in the open projects section. Developments in Hong Kong, South Korea and Japan also won gold.
  The 33 winners of the seventh contest that recognises outstanding real estate projects in the Asia Pacific region were presented with their awards at a prestigious gala dinner at Hong Kong’s Grand Hyatt Hotel.

• China Exports Rise More Than Estimated After Sept. Drop

  China’s exports rebounded by more than estimated last month and the trade surplus widened to the biggest this year, helping sustain an economic recovery as leaders gather to map out a blueprint for growth.
  Overseas shipments increased 5.6 percent in October from a year earlier, the General Administration of Customs said today in Beijing, compared with a median estimate for 1.7 percent growth in a Bloomberg News survey and September’s unexpected decline of 0.3 percent. Imports rose 7.6 percent, leaving a trade surplus of $31.1 billion, the biggest this year.

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

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