China property prices to fall

August 13, 2010 - China

Residential property prices in China's major cities are expected to fall later this year because of the government's tightening campaign and a coming surge in housing supply, it is claimed.

The government will not end its clampdown on housing speculation even as the economy slows and developers who try to resist lowering prices are being unrealistic, according to Wang Shi, chairman of Vanke, the country's top listed developer.

‘Property prices in some cities have risen to levels unacceptable to the middle class. Many developers who do not cut prices now are making a bet on policy,' said Wang, suggesting that they were hoping that Beijing would back down on its property controls.

Chinese banks cease loans to third home buyers

August 11, 2010 - China

Some banks in Beijing and Shanghai have voluntarily stopped granting loans to the third-house purchasers, according to a report by the Shanghai Securities News.

The report quoted a source as saying that the Industrial and Commercial Bank of China and the Agricultural Bank of China in Shanghai had suspended the lending to third-house buyers, and other banks are also following suit.

Fake Hills by MAD architects, China

August 03, 2010 - China

China-based architecture firm MAD Architects has unveiled the designs of their housing development that is located in the coastal city of Beihai.

The building's sculpted undulating outline corresponds with the coastal curves and hills that dominate the region, while cut openings allow views and light to penetrate the structure.

The project includes high rise towers and long, low rise blocks with a total of 4,231 apartments that range in size from 60 to 120 sq m.

China to start levying property tax in 2012

July 27, 2010 - China

A property tax trial is expected to be introduced in parts of China in 2012 with Shanghai likely to be the first city to introduce the new levy.

If it is successful it could be introduced across the country, it is claimed.

The issue has been discussed at the finance ministry in Beijing and Shanghai and Chongqing have already drawn up plans for a property tax, according to reports in China's state media.

Chongqing Mayor Huang Qifan said the city wants to impose a 1% tax on homes that are three times the average market price.

China's Property Prices to Fall

July 07, 2010 - China

China's property market will see a downward price correction in the next few months as the effects of tightening measures weigh, reports quoted a senior Chinese minister as saying.

Sales volume and prices have already stagnated and could be set for a deeper slump in coming months, according to news reports Sunday citing comments by Minister of Land and Resources Xu Shaoshi.

"In about a quarter's time, the property market will probably reach a full correction and prices will fall, but it's hard to predict the extent of the price falls," Xu said.

Hainan Rendez-Vous exceptional yachts and jets showcase turns into a benchmark event

April 14, 2010 - China

The exceptional offerings at last weekend’s first edition of the Hainan Rendez-Vous attracted over 5,600 unique visitors during the three-day event which featured more than 150 exhibitors.

This was an exceptional event, that brought together all of the most innovative eye-openers in the yachting, business jet and luxury lifestyle industries. The show invited the general public to discover a unique range of products which rivaled each other in creativity and luxury.

The event proved to be the right answer to the needs of the fast-growing China market and the new lifestyle aspirations of the country’s high net worth individuals.

China Boating turning 7 and leading the way to the megayacht era

March 29, 2010 - China

First to market, our media partner China Boating has firmly established itself as the leading yachting lifestyle magazine in China.

The past six years has seen the publication grow from strength to strength as evidenced by the high-end media partners who have entrusted the delivery of their message to its readers.

The editorial content is both international and local with contribution from industry-recognised journalists.

China’s construction projects reach high numbers

March 22, 2010 - China

Some 18,462 new projects started construction in China in the first two months of this
year, 71 fewer than in the same period of 2009, according to statistics released by the National Development and Reform Commission.

These new projects involve a total investment of 1.0616 trillion yuan (US$155.5 billion), up 42.7 per cent year on year.

Meanwhile, there were 92,870 projects under construction in China in the first two months, a year on year increase of 14,171.

China has largest property investment market in the world

March 11, 2010 - China

China overtook the US as the world’s biggest property investment market last year and will probably keep the lead in 2010 on economic growth and a lower reliance on debt, it is claimed in a new report.

Real estate investment in China more than doubled to $156.2 billion last year, while the total for the US slumped 64% to $38.3 billion, the report from New York based broker Cushman & Wakefield says. Excluding residential investments, the US came third after China and the UK.

The report also shows that eight of the world’s 20 largest property markets last year were located in the Asia Pacific region, with Hong Kong, Taiwan and New Zealand registering gains in investment.

China Vanke's Property Sales Slip

March 08, 2010 - China

China Vanke Co.'s property sales fell in February for the first time in 11 months, after the government introduced measures aimed at cooling the real-estate market.

A slowdown in property sales was anticipated, as Beijing's measure to rein in speculative home purchases created uncertainty among home buyers. The measures followed government data showing property prices rose as much as 9.5% in January.

Seasonal factors likely also hurt February sales; the week-long Lunar New Year holiday was in February this year but fell in January last year.