China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

Greenland to launch internet finance business

Residential projects in Wuhan in China. Photo: Paggie Leung

Greenland to launch internet finance business

Friday, 27 March, 2015, 11:02pm

China's Kaisa will die soon if creditors "do not cooperate," Sunac warns

Sunac chairman Sun Hongbin issues warning in a briefing that beleaguered developer Kaisa may go under if its creditors do not cooperate. Photo: Bloomberg

Mainland developer Sunac sees Kaisa going under if debt holders don’t agree restructuring deal

24 Mar 2015 - 7:47pm 1 comment

China Overseas Land and Investment to acquire mainland, UK assets from parent company

A luxury residential project owned by China Overseas Land and Investment in Xian. Photo: Peggy Sito

China Overseas Land & Investment (COLI) yesterday announced a 33.8 billion yuan asset acquisition from its ultimate controlling shareholder, China State Construction Engineering Corporation (CSCECL), after the company reported a better-than-expected core net profit of HK$23.83 billion for last year.

24 Mar 2015 - 5:25pm

Need for more action as China secondary home deals slide

Secondary home transactions in Shanghai lost 45.7 per cent on a monthly basis to 10,669 units. Photo: Reuters

Need for more action as China secondary home deals slide

18 Mar 2015 - 6:00am

Chinese developer Poly plans 10b yuan share placement

Beijing has indicated supportive government policy to help the struggling property sector, which is vital to ensuring the targeted growth for China this year. Photo: Bloomberg

Shanghai-listed developer Poly Real Estate announced on Tuesday it would raise 10 billion yuan in a private placement to finance expansion and reduce indebtedness.

17 Mar 2015 - 12:11pm

Chinese developer Country Garden will issue bonds to refinance debt

Country Garden’s chief financial officer Wu Jianbin last year said the developer plans to halve the company’s funding cost in the next two years. Photo: Bruce Yan

Country Garden plans to raise an undisclosed amount in senior notes to refinance its existing US$900 bond that will mature in 2018, the Chinese property developer said in a filing with the Hong Kong stock exchange on Thursday.

27 Feb 2015 - 12:57am

China’s bitter home truths

Developers are being propped up and bank loans being rolled over in China, creating financial risks and supply overhang. Photo: Reuters

Around the turn of the 20th century in New York, there was a frenzy of residential development in Harlem, to complement an “El” train that would allow for a quick commute into the business district of Manhattan.

23 Feb 2015 - 11:20am 1 comment

China debt market is back as Kaisa troubles deemed company-specific

Investors see Kaisa crisis as more company-specific rather than sector-wide. Photo: Reuters

High-yield debt issuers from the mainland's property sector will switch onshore this year as China cuts interest rates, while those developers rated investment-grade will stay abroad.

21 Feb 2015 - 12:36pm

Mainland developers raise home prices on improved market sentiment

Developers are testing the waters. China Vanke raised its asking price at Emerald Riverside in Shanghai by 5.8 per cent. Photo: Reuters

Mainland developers have started raising asking prices for some of their developments, taking advantage of the central government's credit easing measures, but cautious home buyers remain selective.

While a supportive policy environment would boost buyer sentiment and release pent-up demand, some cities were doing better than others, analysts said.

20 Feb 2015 - 9:12pm

Chinese developers to raise luxury home prices in prime cities

The volume of sales of luxury apartments in Shanghai worth more than 10 million yuan fell 34 per cent last year to 2,246 units from 2013. Photo: AFP

Some Chinese developers are planning to raise prices for new luxury projects in prime areas this year, in a rare sign of improving sentiment in a market that saw new home prices fall for the last eight months of 2014.

24 Feb 2015 - 6:22pm

More signs of stabilisation in China's property market but lower-tier cities still struggle

Prices for new homes in Shenzhen rose by 0.3 per cent in January from the previous month. Photo: Bloomberg

Supportive policies for homebuyers have helped trim the number of major cities suffering price falls, but sharp declines in the lower-cities last month point to a deepening polarisation in the mainland market.

17 Feb 2015 - 5:36pm 3 comments

Developer Kaisa's shares tumble on US$2b frozen asset disclosure

Kaisa’s problems rattled Asian corporate debt markets at the start of this year after it was in technical default on a HK$400 million loan from HSBC and was late on a US$26 million bond coupon payment. Photo: Reuters

Shares at Kaisa Group Holdings fell by more than 9 per cent on Tuesday morning as the troubled Shenzhen-based property developer revealed in a stock filing that assets frozen by courts to protect creditors soared to more than US$2 billion.

Trading in Kaisa shares was halted on Monday and resumed on Tuesday.

17 Feb 2015 - 10:44am

Sunac arm buys stake in Shanghai developer

Shanghai Fengdan holds substantial interests in property developments in Shanghai’s Pudong district. Photo: Reuters

A subsidiary of Sunac China Holdings will acquire 37.85 per cent in equity and debt in Shanghai Fengdan Lishi Real Estate Development for 1.3 billion yuan (HK$1.61 billion), the company said in a regulatory filing on Tuesday.

17 Feb 2015 - 9:51am

Trading halted in debt-strapped Kaisa shares pending announcement

Kaisa Shenzhen City Plaza, a flagship development of the troubled constuction company. Pic: SCMP

Troubled Shenzhen-based property developer Kaisa halted share trading on Monday pending the release of inside information on the company, according to a filing at the Hong Kong Stock Exchange.

Shares of the company closed at HK$1.71 on Friday.

16 Feb 2015 - 10:02am

Recovery in China's home market still weak

Home prices in Shanghai rose for a fourth consecutive month in January, edging up to 34,278 yuan per square metre from 34,269 yuan in December. Photo: Reuters

Prices of existing homes inched up in Beijing and Shanghai last month, but falling sales indicated recovery in China's housing market remains fragile, according to the latest readings of the SCMP-Century 21 index.

13 Feb 2015 - 10:02pm