Property prices in 70 large and mid-sized Chinese cities rose 11 percent year-on-year in the first quarter, the National Development and Reform Commission (NDRC) said on Friday.
The price hike is 0.8 percentage points higher than that in the previous quarter, the NDRC said in a joint statement with the National Bureau of Statistics.
Prices of new apartments jumped 11.8 percent, down 0.4 percentage points from the same quarter last year, while prices of second-hand flats rose 11.5 percent, up 1.7 percentage points.
Sunday, April 20, 2008
Tuesday, April 15, 2008
Property slide drags China stocks to 12-month low
SHANGHAI: China's main stock index sank to a fresh 12-month low in tiny turnover on Tuesday, undermined by a continued slide in property shares. The benchmark Shanghai Composite Index ended the morning down 1.19 percent at 3,257.574 points, after hitting a low of 3,212.150.
That left it below an 11-month low of 3,271.290 hit on April 3, which traders had considered technical support. The index lost 5.62 percent on Monday, posting its biggest drop since January, as property developers were hit by rumours that authorities might take fresh action to curb rises in real estate prices.
Poly Real Estate Group lost 7.41 percent to 22.50 yuan after dropping 10 percent on Monday. It said its first-quarter net profit soared 230 percent, but this was partly because some of last year's sales were settled during the quarter, and investors are in any case looking toward the second half of this year.
That left it below an 11-month low of 3,271.290 hit on April 3, which traders had considered technical support. The index lost 5.62 percent on Monday, posting its biggest drop since January, as property developers were hit by rumours that authorities might take fresh action to curb rises in real estate prices.
Poly Real Estate Group lost 7.41 percent to 22.50 yuan after dropping 10 percent on Monday. It said its first-quarter net profit soared 230 percent, but this was partly because some of last year's sales were settled during the quarter, and investors are in any case looking toward the second half of this year.
Friday, April 11, 2008
China - Top 10 research resources
As we continue our series of articles on the best online resources for researching global emerging property markets, we focus this week on China. Although economic growth has slowed slightly recently, China is now the 4th largest economy in the world as measured by nominal GDP and still has tremendous growth prospects over the longer term. While there are political risks and clean land title only exists in certain areas (like Shanghai), the rewards for agents and investors are potentially huge.
It’s a challenging market to approach, because its regulation is relatively new and untested and there can be considerable language and cultural obstacles to overcome when establishing partnerships with reputable companies.
It’s a challenging market to approach, because its regulation is relatively new and untested and there can be considerable language and cultural obstacles to overcome when establishing partnerships with reputable companies.
Tuesday, April 1, 2008
E-House Ranked as China’s No. 1 Real Estate Agency
E-House (China) Holdings Limited ("E-House") (NYSE: EJ), a leading real estate services company in China, today announced it has been honored as China’s largest real estate agency and consulting company for 2007 by the China Real Estate Top 10 Committee. E-House also received awards for the best overall strength and as the best comprehensive service provider in China’s real estate agency and consulting sector.
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