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.

Flat owners reject official test results on suspected substandard concrete

Flat owners demonstrate in Shenzhen. Photo: He Huifeng

The Shenzhen Housing and Construction Bureau released a statement on its official website yesterday saying six major property projects in the city, including Jiayu Garden and Ping An International Financial Centre, which at 660 metres will be the city's tallest building when completed, were safe and met national standards for concrete.

Sunday, 24 March, 2013, 5:57am

Property developers raise targets for sales by up to 30pc

Shares in property firms Country Garden, Fantasia and Powerlong Real Estate were all up yesterday as the firms announced plans to increase their sales in 2013. Photo: Reuters

Country Garden is aiming for growth of 30 per cent in contract sales this year, and is banking on increasing urbanisation on the mainland and demand from end-users to achieve that goal.

20 Mar 2013 - 4:35am

Curbs fail to slow China home costs

Wenzhou was the only city that saw a drop in prices, down 0.4 per cent from January. Photo: Bloomberg

Prices of new homes on the mainland continue to climb, with nearly all 70 cities the government tracks recording a month-on-month price growth in February, testing the new leadership's ability to curb prices while stimulating economic growth.

19 Mar 2013 - 4:19am

The cooling conundrum

The leadership in Beijing, shown here as a model, is aware of the dangers of freezing the nationwide housing market. Photo: Bloomberg

The mainland's new leaders are inheriting a challenge that stymied the outgoing government: deflating a bubble in big-city home prices without dampening economic growth.

16 Mar 2013 - 3:32am

Wen Jiabao bows out after 10 years as premier

Wen Jiabao shakes hands with delegates after handing over the premiership to Li Keqiang at the NPC. Photo: AP

Wen Jiabao bowed out of political life yesterday, formally handing the premiership to Li Keqiang after 10 years in the job.

Li became the new premier after a ceremonial election at the rubber-stamp National People’s Congress, being chosen by 2,940 deputies and opposed by only three.

17 Mar 2013 - 7:41am

Shenzhen announces tougher measures for new flats

A man receives property development sales brochures from touts in Beijing.

Days after China’s State Council introduced a 20 per cent capital gains tax on home sale profits, Shenzhen announced even tougher measures for new flats. 

13 Mar 2013 - 10:13pm 3 comments

Mainland China home prices hit record high last month

Mainland home prices saw a larger than expected year-on-year growth in the first two months of the year.

As of last month, the national average home price hit a record high of 6,637 yuan (HK$8,229) per square metre, an increase of 21 per cent year-on-year, according to data from the National Bureau of Statistics.

13 Mar 2013 - 5:06am

Qianhai a potential investment alternative to Hong Kong

An 18 sq km area is being developed in Qianhai, which is being touted as a viable option to Hong Kong. Photo: Edward Wong

Despite signs of increased activity in the office market leading up to the Lunar New Year break, occupier demand in Hong Kong remains rather subdued. However, despite the lack of movement, vacancy rates continue to trend downwards and are below 3 per cent for the market as a whole. Given that office markets worldwide generally require a level of vacancy of 6-8 per cent, the situation obviously remains extremely tight for occupiers.

13 Mar 2013 - 5:07am

Women in the boardroom are good for business

Changing the mix is desirable.

One of the curiosities of Hong Kong business is that although women do relatively well in terms occupying senior business management roles, they do significantly less well at making it into the boardroom. According to a recent Grant Thornton International survey, Hong Kong women come sixth in worldwide rankings and occupy 30 per cent of senior management roles.

12 Mar 2013 - 4:34am 1 comment

Cooling policies to slow home sales

Vincent Lo Hong-sui. Photo: K. Y. Cheng

The mainland's property curbs in the past decade have been unsuccessful, but the new round of measures will slow property sales, said Vincent Lo Hong-sui, a member of the Chinese People's Political Consultative Conference.

8 Mar 2013 - 5:38am

Cheung Kong aims for record HK$40b homes sales this year

Cheung Kong plans to pre-sell the 1,648-unit joint-venture Lohas Park phase three project in the first half of this year. Photo: Thomas Yau

Bucking the trend of its major rivals which are scaling back their sales targets, Cheung Kong said it would be making more than 5,200 Hong Kong flats and 2,500 mainland units available for sale this year, also a record high.

7 Mar 2013 - 6:12am

How a new tax breaks up marriages on the mainland

A total of 1.96 million couples applied for divorce last year, and only 1.2 million tied the knot. Photo: AFP

Mainland couples are flocking to divorce to avoid a new property sales tax imposed by the government, after it left open a loophole for those who end their marriages.

7 Mar 2013 - 6:12am

Chinese couples divorce to avoid property tax

Chinese couples are flocking to divorce to evade a new tax on home sales. Photo: AFP

China’s central government last Friday issued rules to rein in house prices, including a nationwide capital gains tax of 20 per cent on profits owners make from selling residential property.

7 Mar 2013 - 1:06am

Return of capital gains tax on mainland may boost sales of new homes

Ting Lu, China economist at the Bank of America Merrill Lynch. Photo: K. Y. Cheng

Developers may benefit from the reintroduction of a 20 per cent capital gains tax, as homebuyers are expected to respond to the move by shifting from the resale market to the new-homes market, say analysts.

6 Mar 2013 - 4:40am

20% capital gains tax on mainland properties sparks stampede

Home sellers and agents pack the real estate exchange centre in Nanjing as they try to register their property transactions before the 20 per cent tax takes effect. Photo: Xinhua

Real estate exchange centres in Beijing, Shanghai, Nanjing, and Wuhan were packed with property sellers and agents over the weekend, forcing some of them to extend their opening hours until 9 pm, from 5pm on normal days.

6 Mar 2013 - 4:40am

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