Chinese Companies Target US and UK in Investment Spree – Today’s China Real Estate Links | November 5, 2013

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

• Chinese Companies Target US and UK in Investment Spree

  The United States and Britain have emerged as the bright spots for overseas Chinese investments lately, while China’s investment in the rest of Europe has waned.

  Chinese firms spent US$7.5 billion on 10 acquisitions and eight greenfield projects in the US in the third quarter, according to Rhodium Group, a US consultancy – the highest quarterly investment in the country by Chinese investors.
  Investment in the second quarter totalled US$2.5 billion and for the whole of last year amounted to US$6.7 billion.

• Hong Kong Stocks Drop as China Property Developers Slide

  Hong Kong stocks fell, with the benchmark index paring last week’s gain, as Chinese developers declined amid concern the nation will introduce more measures to curb house prices.
  China Resources Land Ltd., the second-largest mainland property company traded in Hong Kong, dropped 3.5 percent after the southern Chinese city of Shenzhen said property buyers must have at least a 70 percent down-payment for their second homes.

• Wenzhou Housing Prices Drop for 25th Straight Month

  Wenzhou, formerly looked upon as a benchmark for China’s property market and whose property prices once approached that of first-tier cities such as Shanghai, Beijing and Shenzhen, has seen its property prices falling for 25 consecutive months at a time when 69 out of the nation’s 70 major cities saw their property prices rising, becoming the only major city that has seen declining property prices, the Beijing-based China Securities Journal reports.

  Recently, Wenzhou’s Lucheng District Court, took an unprecedented move by auctioning off properties and cars on Taobao, an online shopping website.

• Hong Kong Buyers Rush to Buy Homes Before the Prices Drop

  In a shopping mall in one of Hong Kong’s prime retail districts, more than 100 people wait patiently to take a lift to the sales floors – not to buy luxury bags or clothes, but high-end apartments with price tags of up to $4.4 million.

  Foster Lee, a 30-year-old banker, was among the lucky ones who won the chance to buy a unit after a ballot in which more than 1,600 people signed up for just 80 luxury units on offer.
  “I was expecting home prices to fall four years ago and they keep increasing. It really hurts,” said Lee, who plans to buy one of the flats offered by New World Development and Wheelock & Company Ltd in the prime location near Kowloon West for his family.

• Chinese Said to Buy A$20 Mil Home with Cash Brought in Suitcases

  One of China’s wealthiest people has bought a Toorak mansion for more than $20 million amid claims the businessman regularly flies into the country in a private plane carrying suitcases of cash.

  Entrepreneur Wang Hua is China’s 790th richest person, with a net worth of $400 million that the 54-year-old is seeking to sink into residential developments, wineries, timber companies, golf courses and luxury homes in Australia.

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

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