A survey by E-House China showed home prices declining on a month-to-month basis for the first time since 2012, as the nation’s real estate market continues to slump due to credit concerns.
The report by CRIC, the information unit of… Read More>>
Was Anti-Graft Campaign the Real Reason Luxury Retail Struggled in 2013? Mingtiandi Survey Results
While China’s luxury retailers fell well short of their goals in 2013, the major cause of the industry’s struggles was poor planning, not a government clampdown on bribery and draft, according to a survey conducted last week on Mingtiandi.
Among… Read More>>
China Home Price Growth Slows as Big City Markets Freeze Up
Two separate surveys by private research firms show that the increase in China housing prices slowed in February. At the same time, figures from Beijing and Shanghai show that transactions have fallen off dramatically as buyers and sellers both wait… Read More>>
China Approves 12 More Free Trade Zones
China’s central government has given the nod to 12 free trade zones (FTZs) following the one in Shanghai, amid a spurt of nationwide enthusiasm for such schemes.
Tianjin Municipality and Guangdong Province have been green-lit to set up FTZs, a source with knowledge of the approval told Xinhua-run Economic Information Daily on Wednesday, refusing to leak the remaining 10.
Tokyo and Beijing Now Most Expensive for Expat Postings
Tokyo is still Asia’s most expensive city for expat postings, but it is being losing ground to smoggy Beijing, according to the results of a survey released recently by global employment solutions provider ECA International.
Tokyo and Beijing, which were globally ranked 10th and 15th, respectively, were followed by Nagasaki, Shanghai and Yokohama to round out the top five most expensive expat postings in Asia.
Study Documents $458.3 billion in China Outbound Wealth Transfer
About 2.8 trillion ($458.3 billion) of the 33 trillion yuan ($5.45 trillion) of assets owned by rich Chinese was transferred overseas in 2011, equivalent to 3 percent of China’s GDP in the same year, according to a blue book published on Wednesday.
“Rich” refers to those who individually possess more than 6 million yuan of investable assets.
Hong Kong is the most popular asset transfer destination for rich Chinese, attracting 22 percent of the 2.8 trillion yuan. The United States came second, attracting 21 percent of the assets. About 16 percent of the assets went to Canada. Switzerland, Singapore and Australia.
Real Estate Investment Slows as Govt Tightens Credit
Despite stories of rocketing prices, China’s enthusiasm for real estate — at least domestically — may be cooling off. Analysts now predict that investment in China’s property industry may only reach 15 percent in 2014, a major drop-off from the 19.8 percent expansion that the sector enjoyed in 2013.
In a report in the South China Morning Post (SCMP) today, Wei Yao, China economist at Societe Generale in Hong Kong, noted, “Further investment growth deceleration seems quite certain to us, which is, however, a necessary step towards a more balanced economy.”
Real Estate Analysts Predict Problems for China Vanke
China Vanke once again topped the sales charts among real estate developers in China, however, analysts now warn that the Shenzhen-based firm needs to work harder at innovation if it is to maintain market leadership.
With revenues of 170.9 billion yuan in 2013, Vanke again led the field, followed by Greenland Group, Dalian Wanda Group, Poly Real Estate, China Overseas Land and Investment, Country Garden, and Evergrande Real Estate
Li Ka-shing’s Son Richard to Sell Beijing Property for $900M
The real estate arm of Richard Li’s PCCW announced this week that it is close to selling a Beijing office building for a price put by sources close to the deal at US$900 million, as the Hong Kong princeling follows his father’s lead in selling off China property assets.
The move by Hong Kong based Pacific Century Premium Developments Ltd (PCPD), follows soon after the younger Li’s father, Li Ka-shing sold the Nanjing IFC in eastern China’s Jiangsu province on January 1st
Comings and Goings: Who’s Changing Jobs in China Commercial Real Estate 2013-11-18
Each week on Mingtiandi we track who among China’s commercial real estate community has left their former role, been promoted, or decided to become a drummer for a Shanghainese troop of belly dancers.
Niall Faherty has left his role as… Read More>>
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