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.

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.

Friday, 5 June, 2015, 9:00am

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

Beijing office rent market slowing down

A moderate upward trend for Beijing office rents is forecast for the next few years. Photo: Bloomberg

Beijing's market for premium office space, which has seen an acceleration in prices and rents over the past three years, is slowing down, but sustained demand and limited supply is expected to raise the overall rental level in the city over the next couple of years.

6 Mar 2013 - 4:40am

News of home sale tax prompts rise in weekend transactions

Buyers and sellers rush to a transaction centre  in Shanghai to complete deals after a new capital gains tax on home sales is announced. Photo: Xinhua

New measures announced last week to cool China’s residential property market triggered a surge in transactions in major cities over the weekend.

5 Mar 2013 - 6:10pm

Investors dump developers on renewed curbs in China

Hui Wing-mau

Renewed tightening measures by the central government to curb the real estate sector hit both mainland and Hong Kong markets yesterday as investors rushed to clear their positions on fears that the new policies could choke off sales.

5 Mar 2013 - 5:10am

Beijing creates a generation of housing slaves

A 1,076 sq ft flat on the mainland today costs about 40 years' income, data shows. Photo: Bloomberg

Mainland media have dubbed a generation of middle class "fang nu", or housing slaves, a reference to the lifetime of work they needed to pay off their debts. They are taking on mortgages even as Beijing maintains property curbs to damp prices that have almost tripled since the mainland embarked in 1998 on a drive to increase private home ownership.

27 Feb 2013 - 5:04am

Mainland property cooling measures possible if home prices rise

In Shanghai, the average price of a flat stood at 27,655 yuan per square metre last month. Photo: Bloomberg

Data from the China Index Academy shows that the average price of a new home in 100 major cities recorded an eighth successive month-on-month rise in January, to 9,812 yuan (HK$12,190) per square metre, up 0.03 per cent from December.

18 Feb 2013 - 2:25pm

Real estate services: time to buy?

New high rises under construction in the Wangjing district of Beijing. New stability and waning uncertainties have been steadily boosting transaction volumes in China's real estate market. Photo: EPA

After showing early signs of a pickup last fall, online real estate services firm Soufun is sending even stronger signals that springtime may indeed be coming for companies that make their money from buying and selling activity in the property market.

14 Feb 2013 - 1:54pm

China puts property tax on hold

Shanghai introduced property taxes in 2011 under the direction of the central government, in a bid to cool housing prices. Photo: Bloomberg

The expansion of the pilot property tax programme on the mainland has been deferred, the official China Securities Journal reported yesterday.

2 Feb 2013 - 5:15am 1 comment

Low property taxes fail to curb rise in home prices in Shanghai, Chongqing

Shanghai home prices rose by over 7 per cent last year despite property taxes levied by the municipal government. Photo: Reuters

Municipal governments of Shanghai and Chongqing imposed the taxes early in 2011 to cool the market, but in Shanghai prices rose by over 7 per cent last year and in Chongqing prices recovered from a lull in 2011 to surge by 6 to 8 per cent in the second half of last year.

30 Jan 2013 - 4:07am

Shanxi investigates disciplinary official for double hukou

Zhang Yan's two hukou permits; the one below, listed under the pseudonym "Dong Yan". Photo: SCMP Pictures

Zhang Yan, an official with Yuncheng city’s Commission for Discipline Inspection, was found to have illegally registered more than one household registration permits.

29 Jan 2013 - 2:10pm