Measures introduced to control China's real estate market are at a "critical stage" and the government should keep the curbs, Chinese Vice-Premier Li Keqiang said, Xinhua reported yesterday just hours before the Organization for Economic Cooperation and Development (OECD) warned that property risks were "overshadowing" the economic outlook of the world's second-largest economy. Mr Li, who is in line to...
China Property
China may ease property controls in the second quarter of next year due to concerns a steep drop in prices will push economic growth below 9 per cent - an unspoken but key target for Beijing, a prominent Chinese university said in a report published yesterday. Property prices, transactions and investments will fall in the first quarter due to the tightening measures, a Renmin University of China report...
CapitaLand's serviced residence business unit, The Ascott Limited has won contracts to manage two properties in China. In a news release, The Ascott said the properties include 186-unit Ascott M-City Foshan which will open in 2016, and the 71-unit Somerset Victoria Park Hongkong in 2013. At the moment, Ascott owns and operates Citadines Ashley Hongkong in the Tsim Sha Tsui district. Mr Lim Ming Yan,...
The president and chief executive of CapitaLand, South-east Asia's largest listed developer, said yesterday that demand for residential properties in China remains strong, although prices might drop slightly in certain regions. Mr Liew Mun Leong also said the group intends to expand its shopping mall portfolio in China to capitalise on strong consumer demand. China's efforts to cool its property market...
The average home price in China's 100 key cities fell 0.23 per cent in October from a month earlier, following Beijing's tightening measures to curb the exuberant housing market, a private survey showed on Tuesday. The China Real Estate Index System (CREIS), affiliated with Soufun, the country's largest online real estate firm, said the average home price dropped to 8,856 yuan (S$1,770) per square metre...
Mr Pan Shiyi, the Chinese real-estate mogul who became an object of online ridicule earlier this month, on Wednesday showed an ability to laugh at himself - as well as an ability to turn a public-relations stumble around. Mr Pan, chairman of SOHO China, said on his Sina Weibo microblog earlier this month that Apple could best commemorate the passing of co-founder Steve Jobs by making cheaper versions of...
Singapore-listed Chinese developer Yanlord Land Group has bought two adjacent residential sites in the southern Chinese city of Zhuhai for 3 billion yuan (S$598 million) together with Ho Bee Investment and Shanghai Youyou Group. The sites have a combined gross floor area of 499,329 sq m and were purchased at an average 6,000 yuan per sq m, Yanlord said yesterday. Yanlord will own 60 per cent of the joint...
At the age of 70 when most people are retired, former Labour Permanent Secretary Han Cheng Fong has decided to strike out on his own with a focus on China, where he has done deals for former employers like DBS Land and Fraser & Neave. His first project, in a joint venture with a Hong-Kong based Chinese lady whom he declined to name, is an office, shopping and hotel complex in Chengdu, which he values...
China's new-home prices rose last month in all 70 cities monitored by policymakers, challenging the government's efforts this year to control property prices. Prices in Beijing rose by 1.9 per cent from a year ago, while those in Shanghai, the nation's financial centre, increased by 2.8 per cent, the statistics bureau said on its website yesterday. China's measures to control its property market are at a...
China's home price rose at its slowest rate this year as tightening measures led to a decline in transactions, the Dow Jones news agency reported Thursday. Housing prices edged up slightly by 0.07 per cent in August from July, compared with July's 0.21 per cent on-month increase, according to the China Real Estate Index System. However, from a year earlier, the average price for new properties was up 6.9...