August Home Prices Jump 15% in China First Tier Cities – and more of Today’s China Real Estate Links | September 19, 2013

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

• August Home Prices Jump 15% in China First Tier Cities

  Property prices spiked dramatically last month in China, raising the question of whether further government intervention is needed to avoid a possible housing bubble.

  Housing prices rose in 66 of 70 Chinese cities in August when compared to the previous month, according to the National Bureau of Statistics. Compared to last year, prices were higher in all but one of the 70 cities tracked by the government.

  Prices in Shanghai and Beijing registered some of the largest increases, rising 15% over the previous year. In the southern manufacturing hub of Shenzhen, prices jumped 18%.

• Shanghai Free Trade Zone Details to be Delayed

  The Shanghai Free Trade Zone will be officially launched later this month but investors may have to wait for another couple of months before detailed reform guidelines are released, according to experts close to the matter.

  Kuai Zhenxian, chief economist with Shanghai Waigaoqiao Free Trade Zone Development Co, said at a conference in Shanghai on Tuesday that the much-expected zone would be officially launched on Sept 29.

• FDI into China up 6.37% in first 8 months

  Foreign direct investment (FDI) into China rose 6.37 per cent year-on-year in the first eight months of 2013, the government said yesterday, adding it was a sign of investor confidence in the world’s second-biggest economy.

  Incoming FDI, which excludes financial sectors, reached US$79.77 billion for the January-August period, the commerce ministry said in a statement. For August alone the figure was at US$8.38 billion, up 0.62 per cent on last year. That represented a substantial slowdown after rises of 24.13 per cent in July and 20.12 per cent in June.

• GLP Lease 26,000 Sqm of Warehouses to DHL in Beijing

  Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has leased 26,000 square meters (“sqm”) (280,000 square feet (“sq ft”)) at GLP Park Beijing Capital Airport to DHL Supply Chain China. The company will lease the facilities to meet growing demand for its warehousing and distribution solutions from customers in the consumer sector expanding their reach across Northern China.

  Kent Yang, President of GLP China, said: “We are focused and committed to providing our customers with the best possible solutions and service, and are excited to further strengthen our relationship with DHL through this lease. We are well positioned to support the growth plans of customers with our best-in-class facilities and professional services.”

• Fear of missing out fuels China property market

  Zhang Linsheng took a deep breath before swiping his debit card for Rmb1.8m ($294,000), the downpayment on his new Shanghai apartment. “It’s the most I’ve ever paid at once,” he said.

  The real estate agent, wearing a pink shirt and silver tie, chuckled: “His downpayment is higher than the entire cost of my home. But there’s no point in waiting. Prices are only going to go up.”

  Mr Zhang, a 33-year-old clothing trader from southern China, knew that from experience. He had waited to buy a home until now and he regretted it. “Property prices have been increasing more quickly than my income, so it’s like all my work has been for nothing.”

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

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