Hong Kong Builders Looking Abroad as Sales Slow at Home – and more of Today’s China Real Estate Links | October 25, 2013

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

• Hong Kong Builders Looking Abroad as Sales Slow at Home

  Hong Kong developers are looking at overseas projects as residential sales in the city are near a two-decade low because of property curbs, said Jones Lang LaSalle Inc. (JLL) and Cushman & Wakefield Inc.

  Builders have approached Jones Lang LaSalle about investing in London and deals may happen in the next three to six months, Joseph Tsang, Hong Kong-based managing director at the world’s second-biggest property brokerage, said, declining to name the companies because of confidentiality agreements. Cushman said it is seeing interest from Hong Kong developers to invest in London, Tokyo and Bangkok.

• Beijing Offers Owner-Occupier Homes to Calm the Masses

  Beijing sets to roll out 20,000 sets of owner-occupiers homes for low-income residents this year, under a new housing policy to calm soaring property prices in the country.
  Details of the policy, brewed as early as in late March when the central government launched the “toughest measures in history” to cool the sector, are expected to be fleshed out soon, said the municipal city’s housing authority.

• Savills CEO Expects China’s Outbound Investment to Grow

  Jeremy Helsby became chief executive of Savills Plc in 2008, after working over two decades for the global real estate service group.

  In recent years, he has been a frequent visitor to the Chinese mainland, a region of growing importance to the company. Savills is predicting China will contribute between 10 percent and 15 percent of global profit this year, up from about 10 percent in 2012.

• Top Global Real Estate Markets For Affluent Chinese

  For the truly affluent Chinese, of which there are hundreds of thousands these days, having a home in Shanghai and one in Hong Kong is passé. You’ve made your neighbors jealous if you have a home in Malibu. In fact, according to the National Realtors Association, Chinese buyers accounted for 12% of all the non-American buyers of California real estate in March of 2013. That puts them only behind the Canadians, which accounted for 23%. Here’s the kicker: China’s home buyers spent more than twice what the Canadians spent, dishing out upwards of $425,000 for a piece of the California Dream.

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

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