March 13 - New home sales in Shanghai totaled 149,000m2 at an average price of ¥20,700/m2 in the week through March 11, 2012, down 20% and up 1% respectively from the previous week, according to Youwin.com.cn.
March 13 - New home sales in Shenzhen totaled 65,200m2 at an average price of ¥16,112/m2 in the week through March 11, 2012, down 6.9% and 4.6% respectively from the previous week, according to the local land resources administration.
March 13 - Overall property sales in Beijing plunged 40.4% year on year to 1.04 million m2 in the first two months of 2012, according to the local statistics bureau. Investment in the city's real estate market was down 4.6% to ¥18.76 billion.
March 9 - Investment in China's real estate market rose 27.8% year on year to ¥543.1 billion in the first two months of 2012, where investment in residential space was up 23.3% to ¥371.3 billion, according to the National Bureau of Statistics. During the two month period, overall property sales were down 14% to 70.04 million m2, where residential space sales were down 16% to 61.18 million m2; overall property sales revenue was down 20.9% to ¥414.5 billion, where revenue from residential space was down 24.7% to ¥336.6 billion.
March 9 - Chinese developers will probably face credit rating downgrades over the next six months as refinancing risks increase, Bloomberg reported, citing Standard & Poor's predictions. The nation's home prices may decline 10% by June from a year earlier, while sales volume is expected to change little or even slip in 2012, S&P said, adding that the worst is yet to come for Chinese developers.
March 7 - An average household in Beijing has to use 13 years of its incomes to pay up for an average apartment, much more than the internationally reasonable level of six to seven years of incomes, according to E-House China Holdings Ltd (NYSE: EJ).
$1 = ¥6.33