Shrinking House Sales and the Fear of "Deep Adjustment" Across China
Shrinking real estate sales are spreading, from Shenzhen northwards to Shanghai and Beijing. More and more, city-dwellers who have hotly pursued the newest construction are sitting back and waiting. A fall in prices, maybe quite steep, appears more and more to be in the offing, and the government, once worried about soaring prices, is now seeking to emphasize the stability of the real estate market.
How the God-Father of Chinese Real Estate Lost Soul on His Own Blog
Wang Shi, chairman of Vanke, China's leading real estate developer, has had to apologize to Vanke's shareholders for the hurt caused to the company's reputation because of his "improper" comments on donations for earthquake relief. There's a lesson here for Chinese companies about how it is important to set up strict limits for the private blogs of their top management.
Chinese Banks Fear House Price to Drop
Chinese banks are increasingly worrying about weakness in China's real estate market, while developers worry that a turning point looms over the once booming market. Some analysts believe the market will peak in the first half of this year, and that banks should pay special attention real estate credit risk.
A China Housing Slump Ahead?
As if the coldest Chinese winter in 50 years hasn't been hassle enough, recent interest rate rises and land-use policies are really giving Chinese real estate developers the shivers. Cash is getting harder to come by as Chinese banks are being forced to tighten up credit policies. And governments are becoming impatient with developers sitting on land for future use. The industry may be in for a bit of a cold spell.
Beijing Leads the Housing Price Drop
The Olympics are now only 8 months away and Beijing, the capital of China, has become the first city with a dramatic housing price drop in the new year of 2008. Many real estate developers suggest the drop was caused by the price competition from promotion sales before the Chinese Spring Festival. Whether Beijing will encounter economic difficulties after the Olympics remains in question.
Shanghai: Say No to House Speculators
In compliance with the central government's macro-control measure over housing prices, the Shanghai government has released a notice requiring the real estate administrative department, jointly with public security and other departments, to formulate house-purchasing policies based on a permit system for non-Shanghai residents.
A Perfect Storm
A price storm in the real estate sector, starting from southern cities, is on its way.
The Begining of the End of the "Cheap" Houses
Again Chinese urban home buyers wait and see---- expecting house prices to drop soon. Volume of house transaction sharply shrank recently in many major cities, but developers and brokers would rather hold steadily the set prices.
House Price Waiting for a Shoe
It may be too early to tell if the overseas housing crisis is now infecting China, but it is soon enough to be concerned and to take appropriate measures.
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