Saturday, February 28, 2009
Chinese Investors Looking To Buy U.S. Homes
mainland China are coming to the United States to cruise neighborhoods with a lot of foreclosures or unsold developments. They are looking for bargain-basement buys. These recent home-buying tours to the U.S. have become one of the most popular tour group packages in China.
CHINA'S real estate developers don't expect the property market to recover until at least the second half of this year
The news comes as more real estate investment trusts are considering expanding their operations in China.
At the release of its half-year results to December 31, the Goodman group's chief executive, Greg Goodman, said the Chinese operations, based in Hong Kong, had performed well and the group was looking to expand when market conditions improved.
But in the short term the environment would remain tough. "A sustainable property market is out of sight," the Goldman Sachs analysts Thomas Deng and Kinger Lau wrote in a report.
Home prices in China fell 0.9 per cent in January, the second consecutive monthly decline and the longest losing streak since Beijing started issuing data in August 2005. Property prices more than quadrupled in five years as urban incomes rose.
At the release of its half-year results to December 31, the Goodman group's chief executive, Greg Goodman, said the Chinese operations, based in Hong Kong, had performed well and the group was looking to expand when market conditions improved.
But in the short term the environment would remain tough. "A sustainable property market is out of sight," the Goldman Sachs analysts Thomas Deng and Kinger Lau wrote in a report.
Home prices in China fell 0.9 per cent in January, the second consecutive monthly decline and the longest losing streak since Beijing started issuing data in August 2005. Property prices more than quadrupled in five years as urban incomes rose.
Thursday, February 26, 2009
China shares fall, led by finance, real estate
SHANGHAI: Chinese shares tumbled Thursday as investor enthusiasm plunged after the government released the last in a series of stimulus plans.
The benchmark Shanghai Composite Index dropped 85.32 points, or 3.9 percent, to close at 2121.25. The Shenzhen Composite Index for China's smaller second exchange tumbled 6.1 percent to 689.92.
The government released the last of a series of 10 industry stimulus plans on Wednesday targeting nonferrous metals producers and logistics companies. Earlier plans promised tax cuts and other support to steel makers and other industries.
"Now that the government's stimulus plans all have came out, investors have nothing to speculate on," said Zhang Xiang, an analyst for Guodu Securities in Beijing. "It's time for the market to adjust.
The benchmark Shanghai Composite Index dropped 85.32 points, or 3.9 percent, to close at 2121.25. The Shenzhen Composite Index for China's smaller second exchange tumbled 6.1 percent to 689.92.
The government released the last of a series of 10 industry stimulus plans on Wednesday targeting nonferrous metals producers and logistics companies. Earlier plans promised tax cuts and other support to steel makers and other industries.
"Now that the government's stimulus plans all have came out, investors have nothing to speculate on," said Zhang Xiang, an analyst for Guodu Securities in Beijing. "It's time for the market to adjust.
Tuesday, February 24, 2009
China real estate ads prohibited in Taiwan
According to Liu, the MOI has extensively discussed the issue with executives of local real estate and land developers associations.
Most of the representatives disagreed with the proposal of lifting the ban on Chinese real estate commercials at this time of economic hardship, Liu said.
As the government is trying to boost the nation's economy by stimulating domestic spending, Liu said, realtors would not like to give the wrong idea that they are encouraging the Taiwanese public to invest in China's real estate market.
Most of the representatives disagreed with the proposal of lifting the ban on Chinese real estate commercials at this time of economic hardship, Liu said.
As the government is trying to boost the nation's economy by stimulating domestic spending, Liu said, realtors would not like to give the wrong idea that they are encouraging the Taiwanese public to invest in China's real estate market.
Friday, February 20, 2009
Hong Kong Luxury Rents Fall to 2-Year Low on Supply
Feb. 19 (Bloomberg) -- Hong Kong luxury-home rents fell to a 2 1/2-year low last month because supply increased as owners opted to lease their apartments rather than sell, real estate agent Ricacorp Properties Ltd. said.
Rents at 35 luxury apartment buildings dropped 22 percent from a year earlier to an average HK$25.70 ($3.30) a square foot per month, the lowest since June 2006, Ricacorp said in an e- mailed statement yesterday. The average rent fell 4.8 percent from December, the seventh straight month-on-month drop, it said.
“Most homeowners are reluctant to sell cheaply, so they preferred to rent their properties out while waiting for prices to rise, adding to supply,” Ricacorp director Eric Cheung said in the statement.
Rents at 35 luxury apartment buildings dropped 22 percent from a year earlier to an average HK$25.70 ($3.30) a square foot per month, the lowest since June 2006, Ricacorp said in an e- mailed statement yesterday. The average rent fell 4.8 percent from December, the seventh straight month-on-month drop, it said.
“Most homeowners are reluctant to sell cheaply, so they preferred to rent their properties out while waiting for prices to rise, adding to supply,” Ricacorp director Eric Cheung said in the statement.
Tuesday, February 17, 2009
Real estate funds turn to China
In a Jan 15 statement to the Hong Kong bourse, Parkson Retail said it agreed to acquire the Suntrans Building in Beijing's Chaoyang District at a cash acquisition price of 1.128 billion yuan ($165 million). This is the largest property deal this year.
"The raised funds have to go somewhere, and China will be one of their major targets," said Ji.
CapitaLand, Southeast Asia's biggest developer, said on Monday that it will raise over $1.2 billion via a rights issue, making it well-positioned for any mergers and acquisitions opportunities that might arise.
Private equity fund manager Gaw Capital Partners is looking to raise up to $1.5 billion for Chinese property.
"The raised funds have to go somewhere, and China will be one of their major targets," said Ji.
CapitaLand, Southeast Asia's biggest developer, said on Monday that it will raise over $1.2 billion via a rights issue, making it well-positioned for any mergers and acquisitions opportunities that might arise.
Private equity fund manager Gaw Capital Partners is looking to raise up to $1.5 billion for Chinese property.
Friday, February 6, 2009
Dealing price of Shanghai real estate falls 40 percent
According to the statistics issued by Shoufang Net, 10,595 units of residential properties have been sold with a total area of 973,000 square meters. The transaction volume fell 41.3 percent over the previous month, down 50 percent compared with that of 2008.
The average transaction price of commercial residential building reached 14,000 yuan in January, up 16.8 percent over the last month. Most consumers favor houses located between middle and outer ring road. Among the top 10 hot-selling list, the average turnover of four apartments surpassed 10,000 yuan. Moreover, Yanlord Riverside City ranks first in the list, with an average transaction price of 43,000 yuan, which propelled the transaction volume in January.
The average transaction price of commercial residential building reached 14,000 yuan in January, up 16.8 percent over the last month. Most consumers favor houses located between middle and outer ring road. Among the top 10 hot-selling list, the average turnover of four apartments surpassed 10,000 yuan. Moreover, Yanlord Riverside City ranks first in the list, with an average transaction price of 43,000 yuan, which propelled the transaction volume in January.
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