July 2 – Vanke (SHE: 000002) sold 83 billion yuan worth of properties in 1H 2013, continuing to be the largest Chinese property developer by contract value. The threshold for top 10 developers was 28.3 billion yuan in 1H 2013, up 63% from a year earlier as competition stirred up.
Source: China Real Estate Information Corp
July 2 – New home prices averaged 24,128 yuan per square meter in Shenzhen in June, up 8.1% month on month and up 27.2% year on year due to strong luxury home sales.
Source: Shenzhen Urban Planning and Land Resources Commission
July 2 – Beijing sold 62,295 new homes in 1H 2013, up 28.8% from 1H 2012 and the largest amount in four years. Second-hand home sales rose 70.6% year on year to 95,244 units in 1H 2013. The strong sales reflected inelastic demand despite the government's further tightening policies.
Source: Beijing Municipal Commission of Housing and Urban-Rural Development
July 1 – Home prices in China's 10 largest cities averaged 17,376 yuan per square meter in June, up 1% month on month and up 9.9% year on year. In a broader market, the average price of the 100 largest cities was 10,258 yuan per square meter, up 0.8% month on month and up 7.4% year on year; it marked the 13th straight month that the price saw month on month gains.
Source: China Index Academy
June 27 – The recent credit crunch won't affect major property developers as they secured enough credit facilities in the beginning of the year and haven't drawn on credit lines. However, smaller developers will definitely be hit.
Source: CCB International China Property
June 26 – Many banks in Beijing have suspended interest rate discounts for home mortgages including first home mortgages as China's money market was strained amid a credit crunch, Jrj.com.cn reported. The situation is part of further tightening in tier-1 and bigger tier-2 cities, but will not affect the developers focusing on luxury properties and hence mortgages for their buyers.
Source: Deutsche Bank China Property Alert
June 26 – New home sales in Shanghai totaled 338,000 square meters at an average price of more than 25,000 yuan per square meter in the week through June 23, 2013, up 48.4% and 6.1% respectively from the previous week.
Source: Century21 China
June 25 – 9 residential projects were launched in the week through June 24, 2013 in tier-1 cities, offering a total of 1,816 units, with a take-up rate of 66%. 26 projects (4,201 units) were launched in major tier-2 cities, with a take-up rate of 63%.
Source: DBS China Property Weekly Digest
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..