Mainboard-listed Metro Holdings has set up a firm with a private equity real estate fund to co-invest in Chinese properties owned by retailer Tesco. The newly set up firm, Choice Bright Holdings, will invest about US$49 million in return for a 50 per cent stake in three assets in China under Tesco. They are Tesco Chelsea, Tesco Tianying and Tesco Shenyang Beihai. Metro will contribute about one-fifth of...
China Property
Singapore property developer CapitaLand said it is in China for the long run, despite a slew of cooling measures by the authorities to curb speculation in the Chinese property market. The measures have caused price increases to slow in recent months. Just last week, Beijing introduced a regulation which requires buyers not registered with the city to pay taxes for at least five years before buying their...
Chinese cities, including Shanghai and Guangzhou, will restrict home purchases after new property curbs by the government aimed at preventing a housing bubble. The two cities will ban local residents who own two or more homes from buying more property and non-local homeowners from making additional purchases, according to the state-run Xinhua news agency and the Guangzhou Daily yesterday. Other cities...
Economists yesterday welcomed reforms of China's system for reporting property price data, saying the changes would improve on previous methods that severely underestimated inflation in the housing sector in the world's second-largest economy. The National Bureau of Statistics (NBS) announced this week that it was scrapping a nationwide property index and would instead publish price changes for individual...
Residential property prices in China rose 0.95 per cent last month from a month earlier, up from December's increase of 0.90 per cent, a private data provider said yesterday. The China Real Estate Index System (CREIS) said home prices stood at an average 8,645 yuan ($1,677) per sqm in the 100 cities it covers in its survey. The CREIS data is closely watched by real estate investors who believe that it...
Singapore-listed property counters fell yesterday on concerns about more cooling measures in China to rein in stubbornly high housing prices. At the close of market, shares of Keppel Land were down 3.1 per cent at $4.32, CapitaLand fell 0.8 per cent to $3.58 and Yanlord Land dipped 1.9 per cent to $1.54. "In general, most people would not want to put their money into property counters in the short term,...
Rising property prices lead to concerns of a similar asset bubble As property prices in China continue to rise - frustrating government efforts to rein them in - some analysts are concerned that China may end up with a Japanese-style asset bubble, which kept growing in the '80s before it burst with painful consequences for the economy. The analysts noted that China's property market seemed to be fuelled...
Mainboard-listed Yanlord Group and Reco Yizhong have jointly acquired a residential land site in Tianjin Jinnan District in China. Yanlord is a property developer specialising in developing high-end commercial and residential projects in Chinese growth cities, while Reco Yizhong is an affiliate of the Government of Singapore Investment Corporation (GIC) Real Estate. Both parties acquired the prime...
The Chinese cities of Chongqing and Shanghai yesterday announced the launch of a long-awaited property tax, a day after additional nationwide tightening measures unveiled late on Wednesday by the State Council, China's Cabinet. Chongqing is the world's biggest city with a population of some 32 million. Its mayor, Mr Huang Qifan, announced the pilot scheme yesterday, Chinese news portal Sina.com reported....
New housing guidelines have been developed for the Tianjin Eco-city, which is a joint collaboration between China and Singapore. Under the new framework, at least 20 per cent of residential units will be set aside for public housing. On a visit Tianjin, Singapore's Minister for National Development, Mah Bow Tan, said the new model of public housing will tap on Singapore's housing experience. These...