September 27 – Profit margins of China's property developers will continue to fall as revenue growth slows amid a slack market, Moody's predicted. The ratings agency forecast Chinese property developers' average margin to drop to 30% in the next 6 to 12 months, down from 33.3% for 2012.
September 25 – Tightening liquidity has prompted banks in Guangdong province to raise mortgage rates for first-home buyers to 1.05-1.2 times the benchmark rate set by the central bank, Jrj.com.cn reported. Some smaller lenders in the province even had suspended mortgage lending.
September 24 – The swelling property bubbles in China's tier-1 and tier-2 cities are similar to those in Japan in the 1980s, warned industry mogul Wang Shi, chairman of China Vanke Co, the nation's biggest developer. New home prices rose in 69 of China's 70 largest cities in August compared with a year ago, according to the National Bureau of Statistics.
September 23 – Home buyers in Shanghai took out a total of 72.8 billion yuan in mortgage loans in the first 8 months of 2013, according to central bank figures. It was 4 times the amount recorded for the same period of last year.
September 23 – Property sales in China's major cities tracked by Credit Suisse dropped 15% week on week and 5% year on year in the week through September 22. A 3-day public holiday was to blame for the decline. Property sales in Beijing were down 38% week on week and down 8% year on year; and property sales in Shanghai were down 16% week on week and up 5% year on year.
September 23 – Property sales in 8 key Chinese cities tracked by JPMorgan averaged 2,354 units per day in the week through September 22, down 14% week on week and down 10% year on year. Sales weakened due to a 3-day public holiday during the week. With increased launches in the pipeline, JPMorgan expects sales volume to rebound in the coming weeks.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..