Growth in China's real estate investment slowed to 3.5 percent in the first eight months of this year from the same period a year ago, though the area of property sold rose 7.2 percent, official data showed on Sunday. The weak rise in investment, reported by the National Bureau of Statistics(NBS), compared with an increase of 4.3 percent in January-July. The rise in sales by area compared with a 6.1...
China Property Market
China loosened restrictions on foreign investment in real estate after the yuan's depreciation reduced the appeal of Chinese property assets. Overseas companies' Chinese units and foreign nationals working and living in China can buy properties for their own use that meet "real needs," Chinese authorities including the Ministry of Commerce said in a joint statement. Requirements that foreign investors...
China's housing prices fell on a monthly basis for the seventh straight month in November, a survey showed on Sunday (Nov 30), with the market yet to feel the full impact of an interest rate cut. The average price of a new home in China's 100 major cities was 10,589 yuan (US$1,736) per square metre in November, down 0.38 per cent from October, the independent China Index Academy said in a statement. The...
The biggest immediate risk facing China’s economy is about to get worse as a reluctance among some developers to cut prices is worsening a housing glut that threatens to extend a slide in construction that has already weighed on growth. “Developers have been unable to build up adequate client interest as buyers are still waiting on the sidelines. They are also worried that excessive price...
Chinese property developers wary of poor sales amid the country’s industry downturn are giving expensive government land auctions the cold shoulder, with plots in the capital going unsold for the first time since April 2011. The poor reception highlights the persistent mismatch in price expectations between developers and local governments. Cash-tight developers are seeking lower prices while local...
China's decline in property prices accelerated in July, an independent survey showed, adding to concerns over the sector, a key component of the world's second-largest economy. The average price of a new home in 100 major cities was 10,835 yuan ($1,757) per square metre last month, down 0.81 percent from June, the China Index Academy (CIA) said. It was the third consecutive monthly decline and an...
China's urbanisation will continue to drive fundamental demand for homes and real estate. Speaking on Wednesday at the World Cities Summit China In-Focus Forum in Singapore, CapitaLand's CEO Lim Ming Yan estimated that there is demand for 35 million homes, based on the expectation that over 100 million people will be moving to the Chinese cities over the next few years. Mr Lim said on average there...
China's property sector showed further signs of cooling for the month of April -- average prices of new homes in 70 major cities rose 6.7 per cent on-year, down from 7.7 per cent a month earlier. Some economists said that the real estate downturn could be the main drag on China's growth this year. After years of red-hot growth, China's property market is cooling down but the slowdown is spilling over...
China’s property bubble has burst and growth in Asia’s largest economy could slow sharply to less than 6 per cent this year unless the government steps in with fresh stimulus measures, economists at Nomura securities brokerage warned yesterday. “It is no longer a question of ‘if’, but rather ‘how severe’ the property market correction will be. We are convinced that the property sector has...
China’s slump in property sales and construction is spurring speculation that the government’s four-year-old campaign of real estate controls will start to crack. Citigroup analysts see “targeted easing” in curbs including home purchase restrictions, while Centaline Group, the parent of China’s biggest real estate brokerage, says some cities are inclined to adjust policies, such as the level...