ChinaRealNews

Global luxury brands to reap profits from China's commercial real estate

2009-05-26 Shanghai

China had overtaken the US for the first time in the term of luxury goods consumption by the end of January 2009, according to a report by the World Luxury Association, however, the speed of growth in luxury goods sales in Beijing, Shanghai and Shenzhen markets started to slow down for the first quarter of 2009 under the stress of the recession. As China's property prices have dropped since last year, luxury brands in Europe and America are seeking to invest in Shanghai’s commercial real estate in a move to add some new profitable pipelines.

Month-on-month growth of existing home prices in Kunming, Yunnan province ranks second in China for April 2009

2009-05-19 Kunming

Transactions in the housing market in Kunming, Yunnan province totaled 5,017 in April 2009, a 16-month record and an increase of 1,500 from the prior month. For the month, the prices for newly built housing in the city dropped by 4.5 percent over the year-earlier period, however incicated a rise of 0.9 percent from the prior month, while prices of existing homes rose 2.2 percent month-on-month, ranking the second behind Shenzhen nationwde. Existing homes showed a year-on-year rise of 1.2 percent.

Tianjin sees year-over-year rise of 11.5 percent in house transaction volume for April

2009-05-12 Tianjin

Tianjin, China sold houses of 2.24 million square meters (23,930 units) in April, 2009, up 11.5 percent from a year earlier. Transactions by value reached RMB13.9 billion (approx US$2.04 billion) during the month, a year-over-year increase of 13.9 percent. The increases were mainly attributable to such policies as expanding domestic demand and aggressively encouraging house consumption put in place by the Chinese government and the city government.

Housing sales based on floorspace in China’s Wuhan down 3.5% during January-April

2009-05-07 Wuhan

According to statistics released by the Wuhan Statistics Bureau, the city eked out a paltry growth of 3.2 percent during the first four months this year in real estate investments, reaching RMB13.2 billion (approx. US$2 billion), representing 2.7 percent higher than the growth in the previous three months. For the same period, new construction completed totaled 2.5 million square meters, while housing sales based on floor space amounted to approximately 2.2 million square meters, a decline of 3.5 percent over the previous three months.

China’s Gansu province sees sharp decline in real estate investment for Q1 2009

2009-05-05 Lanzhou

Investment into real estate development in China’s Gansu province eked out a small growth of 5.8 percent during the first quarter 2009, a full 40.2 percentage points less than the same period one year prior, largely due to the weak global economic conditions. For the quarter, new construction completed added 10.1 million square meters of floor space while 868 thousand square meters of commercial housing were sold in the province, a rise of 7.59 percent and a decline of 10.53 percent over the year-earlier period respectively; vacant floor space in commercial buildings increased 12.5 percent over the same period last year.

China's Henan province sees 12% rise in real estate investment for Q1 2009

2009-04-29 Zhengzhou

According to Henan Provincial Bureau of Statistics, China’s Henan province completed a total investment of RMB18.6 billion (US$2.7 billion) in real estate development during the first quarter 2009, up 12 percent year-on-year, including RMB14.4billion (US$2.1 billion) in residential buildings, a rise of 12.3 percent over the same period of last year. For the quarter, sales of commercial housing in the province fell at a slower pace of 2.4 percent, 17 percentage points lower than that for the first two months of this year.

Housing prices in Shaanxi province's cities up 2.2% during Q1 2009

2009-04-27 Xi'an

Statistics from the Shaanxi survey team at the National Bureau of Statistics of China show that prices for houses in cities in Shaanxi province, China, rose 2.2 percent year on year during the first quarter of 2009. While housing prices in major cities in the province stabilized, such prices in middle-sized cities increased. However, transaction volumes in the cities tend to drop, according to the team.

Guangxi’s real estate industry sees increase in sales tax

2009-04-22 Nanning

Sales tax of Guangxi’s real estate industry reached RMB305 million (approx. US$44.7 million) in March, an increase of 26.3 percent over a year ago. This increase can be mainly attributed to favorable policies put in place by the government and real estate developers’ promotional activities.

Property sales in Hangzhou, China rebound in first quarter

2009-04-20 Hangzhou

Buoyed by a series of incentive policies put in place by the Chinese central and local governments, the real estate climate index in Hangzhou, Zhejiang province climbed in the first quarter of this year, with property sales rebounding noticeably. During the first three months, approximately 1.3 million square meters of property were sold in the city, up 26 per cent over a year earlier. However, property developers still held a prudent attitude toward the prospect of the real estate market.

Over half of commercial houses unsold in Urumchi

2009-04-17 Urumchi

Statistics released by the real estate transaction management center in Urumchi show, as of the end of March this year, 49470 units of newly-built commercial houses changed hands in the city, less than a half of the total. However, some developers alleged their houses were sold out, which may mislead house buyers. The leader at the center reminded local citizens of not buying houses blindly.