Here is a list of the day’s latest China real estate news collected from around the web:
- China home prices rise for 4th month in September-survey
Average home prices in China’s 100 big cities edged up for a fourth straight month in September, a private survey showed, reinforcing signs of a mild recovery as the government seeks to boost growth while avoiding a real estate bubble.
Average home prices rose 0.17 percent to 8,753 yuan ($1,400)per square metre in September, moderating from August’s month-on-month increase of 0.24 percent, the China Real Estate Index System (CREIS) said.
- China’s Guiyang, Shanghai Unveil Measures to Boost Home Purchases
The Chinese cities of Shanghai and Guiyang have rolled out new measures to encourage property purchases in a bid to revive the real-estate market and support this important pillar of growth, amid increasing worries over a slowdown in the world’s second-largest economy.
The moves are the latest efforts by local authorities to ease national policies aimed at keeping housing prices from spiraling higher, though it wasn’t clear whether Beijing has approved the measures. - China’s hotel market still expanding as Beijing rates rise 11pc
The average daily room rate in Beijing, Hong Kong and Macao continued to grow in the first half despite the lackluster global economy, said a report on Tuesday from international real estate service provider Knight Frank.
The average daily room rate, or ADR, is an index used to gauge conditions in the hotel industry.
Hong Kong saw the largest year-on-year growth in the first half of the year, with its ADR up 12.0 percent, followed by Beijing with a growth of 11.4 percent. - China retail sales growth slows, but consumers still confident
China’s retail sales growth slowed during the Golden Week break, but demand was better than expected, and authorities provided a snapshot of increasingly important sources of demand in the world’s second-largest economy.
The Golden Week holiday at the start of October, when millions of people travel and spend more than usual, brings huge discounts and promotions as retailers battle for market share.
- Galeries Lafayette Plans to Open in 15 China Cities
Galeries Lafayette, the iconic department store in Paris and a major shopping destination for throngs of Chinese tourists, will be hoping it’s second time lucky.
After failing to garner much attention in 1998 with its store in the Wangfujing shopping district in Beijing, Lafayette plans to try again in the nation’s capital, as well as 15 more cities across China, over the next five years. Department store buildings will include both retail and office space. - China’s Rich May Be Loving Luxury Goods Too Much
Markets have been trying for months to figure out whether China’s love affair with luxury may be cooling.
In a rich-man’s version of the “billion consumers” fantasy, luxury companies have been saying for months that China is cranking out millionaires faster than Foxconn is cranking out iPhones. All of those millionaires, they reason, need handbags, Rolexes and Ferraris.
But the earnings numbers from luxury companies tell a different story. As you can see from the chart below, produced by ISI Group, the growth of luxury revenue from China and Asia have been going in one direction – down.
- Top 11 property tycoons in China 2012
Facing a slacking property market, Chinese real estate tycoons witnessed a decline in their wealth this year, according to China’s Rich List for Real Estate released yesterday by the Hurun Research Institute.
The 51 people on this year’s list saw their combined value decrease by 5.2 percent, to 651.8 billion yuan. This figure also represents a massive 17.4 percent loss from 2007 when Hurun first released the list.
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