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 Property
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...
Southeast Asia's largest developer CapitaLand has bought a 60 per cent interest in two adjacent prime residential sites in the western Chinese city of Chengdu for 752 million yuan (about S$155 million), further strengthening its presence in the world's most populous country. CapitaLand plans to build around 4,600 apartment units on the sites to cater to first-time homebuyers and upgraders. Construction...
Companies controlled by Mr Li Ka-shing, Asia’s richest man, have slowed land purchases in Hong Kong and China, as prices have escalated to what he said are unhealthily high levels. “Land prices in Hong Kong are high and already showing signs of an unhealthy situation. Land prices in China have surged, and we’re unable to win auctions for land,” he said, according to a statement yesterday from...
Property market exuberance could prompt authorities to step up curbs: Analysts New home prices in 70 major cities across China rose an average of 0.8 per cent in January from the same month a year earlier, according to data released yesterday by the National Bureau of Statistics, snapping 10 months of decline and raising the risk that the central government may move to bolster a three-year campaign to...
Several local governments in China have announced new measures to restrict financing to potential homebuyers, triggering concerns about a fresh wave of tightening for the property sector, Dow Jones Newswires reported on Tuesday. Word of the measures comes as home prices in major Chinese cities started rising in the second half last year after declining since late 2011 as the central government’s strict...
China’s average home prices rose from year-ago levels in January for the second month in a row, signalling that the property market recovery is gaining momentum after last year’s slump, Dow Jones Newswires reported on Friday. Analysts said the uptick in prices was due to strong demand from buyers who had rushed into the market amid widespread expectations that housing prices would climb further this...
Average home prices in China's 100 major cities edged up 0.03 per cent last month from December a year earlier, snapping eight months of decline and reinforcing signs of a property market recovery in Asia's largest economy, a widely-followed survey showed on Friday. The data from the China Real Estate Index System (CREIS) added to evidence that the real estate market has found support from broad monetary...