China's recent steps to cool its property market have taken the shine off China-linked property counters in Singapore, with analysts seeing limited upside for many stocks. For now, experts prefer property stocks with more Singapore-based portfolios. They said these currently offer more potential growth, thanks to exposure to hot sectors like residential and hospitality. China has been clamping down on...
China Property
CHEUNG Kong (Holdings) Ltd, the Hong Kong developer controlled by billionaire Li Ka-shing, said efforts by China to cool its property market are 'timely' after record price gains. 'You want to take action before the market gets too hot,' Justin Chiu, executive director of Cheung Kong, said in a Bloomberg Television interview yesterday. 'Prices have gone up really quite a lot; people buying for their own...
Skyrocketing property prices have spurred many divorced Chinese couples to continue living under the same roof while they await the best time to sell their homes. Based on cases in a Beijing court, the Beijing Morning Post suggested on Monday that about 10 per cent of divorced couples in China who were born after 1980 preferred to maintain their financial ties and shared property. The living-together...
CAPITALAND president and chief executive Liew Mun Leong said at a forum yesterday that there is no widespread asset bubble in China, because outside certain major cities, people's mortgage payments have not become unaffordable relative to their incomes. Mr Liew told students at the National University of Singapore Business School that there are 'speculative forces' in major cities like Beijing, Shanghai,...
A GROUP of 13 Singapore companies is banking on their green know-how to snare a share of China's lucrative and rapidly growing green buildings market. The firms are set to attend a key China exhibition to try and tap a green buildings market set to be worth $55 billion by 2012 and $200 billion by 2020. The Sixth International Conference on Intelligent, Green and Energy-Efficient Building & New...
On Jan 6, a day after the government announced a grand plan to transform Hainan province into a world-class tourism paradise, retiree Zhou Yafen woke up to see crowds 'rushing madly to buy apartments' on the island. 'Property prices shot up like an arrow,' said the 59-year-old, who owns a 125 sq m flat in provincial capital Haikou that she bought in 2005. Its value today has gone up by more than eight...
Hainan: An announcement that the tropical island would be transformed into a top international tourist hotspot prompted investors from across the country - and beyond - to rush in and snap up properties. Shanghai: Land and property prices in the Pudong New Zone area, especially plots near where the new Disney theme park would be sited, shot up to record highs. Beijing: The 2008 Olympic Games benefited...
Property developer CapitaLand said the present property boom in China cannot be labelled as a bubble. It is of the view that current market conditions are driven mainly by physical demand. While it notes there is some degree of speculative demand in the Tier 1 cities, CapitaLand said there is no subprime danger in China, unlike in the US. It added that it is comforting to note that the Chinese government...
China's property market will probably go through a "more meaningful correction" this year because the price gains in 2009 aren't sustainable, according to Mr Christopher Lee, corporate ratings director at Standard and Poor's. The outlook for the Chinese market is "neutral" for this year, Mr Bei Fu, an associate director of corporate ratings at S&P, said during a conference call with Mr Lee on...
Property developer CapitaLand on Tuesday said it has seen overwhelming response to its new condominium in Beijing, with 95 per cent of phase one units sold in just over two weeks. The condominium, called the Beaufort, sits on a 53,808-square metre site and is located within walking distance to Beijing Chaoyang Park, one of China's largest city parks. An entire block, comprising 467 units, was launched...