Valuable Property News in China
New retail property supply reached 500,000 square meters with vacancy rate at below 10% in China . Get the insights in this Chinese Property Bussiness. Chinese housing market has continued to boom alarmingly in the last year and this year.|
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Chinese property markets set for a stable year. The outlook for residential and commercial property in China is set to depend on the Chinese economy in 2014 with home inflation curbs set to continue, according to the latest report from international consultants Knight Frank.
However, luxury home prices surged 17.1% over the year and in the commercial sector retailers were cautious in their expansion plans due to slower consumption growth. New retail property supply reached 500,000 square meters with vacancy rate at below 10% and rents remaining stable. However, retail property continued its fast growth. House sales growth in Beijing.
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China property boom continues relentlessly
China’s housing market has continued to boom alarmingly in the recent months, despite government efforts to cool prices.
“China’s facing an increasing risk of a property bubble,” according to Australia & New Zealand Banking Group Ltd. (ANZ) economist Liu Li-Gang. Li-Gang pointed that house prices were a bit out of control, especially in China’s big cities.
House prices of the 100 Chinese cities surveyed rose again in October 2013, the 17th consecutive monthly rise, by 1.24% to an average of CNY 10,685 (US$ 1,742) per square metre (sq. m.), based on figures released by China Real Estate Index System (CREIS). This was an increase of 10.7% as compared to the same period of the previous year. Out of the 100 cities, 93 had y-o-y house price hikes.
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Chinese Property Investment Chinese investors are likely to play an increasingly prominent role in the commercial property market this year, with one commercial real estate agency reporting they accounted for a third of the firm's sales last year. Bruce Whillans, the executive director of Ray White Commercial Auckland, said his company sold $450 million worth of commercial property last year, of which almost $150m went to Chinese buyers.
That part of the business has grown from almost nothing because Whillans only started fielding a serious level of enquiries from Chinese investors at the beginning of last year."It has grown exponentially," he said, and as a result he was in the process of hiring Chinese-speaking staff to man a dedicated Asian Business Desk within the agency.
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Property prices in China cities grow at 20% for December
China’s new home sales last year are likely to have exceeded $US1 trillion for the first time as property prices in cities the government considers ‘first tier’ surged. China Real Estate Information Corp, or CRIC, and Centaline Property Agency both forecast that National Bureau of Statistics numbers to be released today will show 2013 sales topped $US1 trillion. The value was 5.9 trillion yuan ($US975 billion) in the first 11 months.
New-home prices in December climbed 20 per cent in Guangzhou and Shenzhen from a year earlier, and jumped 18 per cent in Shanghai and 16 per cent in Beijing, the bureau of statistics said January 18.
Premier Li Keqiang hasn’t imposed additional nationwide measures to cool the market since his predecessor Wen Jiabao stepped up a three-year campaign in March, ordering higher down payments and interest rates for second-home loans in cities with “excessive fast” price gains. Instead, Li has left it up to individual cities to impose their own curbs, with at least 10, many of them provincial capitals, tightening local property policies since November
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China's property needs work | |
