Here is a list of the day’s latest China real estate news collected from around the web:
-
Beverage magnate tops China’s rich list; property slips
China’s super-rich saw their wealth shrink this year as property lost its spot as the number one source of wealth for the first time since record-keeping began, China’s annual rich list shows. Nearly half of China’s 1,000 or so richest individuals and families suffered a loss of wealth over the past year, mainly those involved in the solar, textiles and retail sectors, according to the China Rich List published annually by Hurun Report Inc.
-
Apple to open second Hong Kong store on September 29
Apple Inc said on Monday it will open its second retail store in Hong Kong on September 29, underscoring the massive demand for its products in Greater China.The new store will be located in Festival Walk in Kowloon Tong, Apple said on its Hong Kong website.Apple has five retail stores in China, the company’s second-largest market, and plans to open flagship stores in the major Chinese cities of Chengdu and Shenzhen, according to government officials.
-
Chinese land market warming up since August
China Vanke Group (000002.SZ), China Resources Land (1109.HK), and China Merchants Property Development (000024.SH) have spent 13.4 billion yuan ($2.12 billion), 5.4 billion yuan and 4.5 billion yuan, respectively, on land purchase since August, surpassing the total figure over the first seven months, the ChinaScope.com reported,Vanke, the country’s largest residential property developer, has acquired 17 land parcels since August, according to data released by B.A. Consulting and 5i5j.com.
-
Tight policies chill Shanghai luxury home trading
The central government’s tight grip on house mortgages and purchase limits led to a chill in Shanghai’s luxury property trading compared with Hong Kong and Taipei, a report said on Monday.”The limited supply of financing and rigid requirements for mortgages cooled down the trading of luxury homes in Shanghai,” said Lyrics Xuan, associated director of project sales and marketing in Shanghai with Colliers International. “However, due to the limited supply of high-end property, prices are quite stable in mature areas as well as in the secondary market.”
-
Human error to blame in Nanjing road elevator death
AN initial investigation yesterday showed repair workers who removed a warning sign outside an elevator undergoing repair are to blame for the death of a woman who fell six floors after stepping into the empty shaft on Saturday.The workers put away the warning sign during repairs at a downtown shopping mall but failed to leave someone to guard the shaft, the work safety bureau told Shanghai Daily yesterday.
Leave a Reply