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by Overseas Property Mall on Monday, March 14th, 2011 in China Property, Shanghai Property
Back on board the China property market rollercoaster as we ride into 2011. Before the last stop we watch a sub-index of property stocks on the Shanghai Composite Index slump 28% at the end of last year on the promise of new property taxes to curb growth. Now as it seems unlikely the taxes will ever come to bear, despite revelations that prices grew much faster last year than previously thought, we can watch the same index climbing once again having growth 8.4% last week.
by Overseas Property Mall on Friday, December 17th, 2010 in China Property, Shanghai Property
The record 73.1 million people attending the month-long World Expo in China during October pushed up rents and hotel rates in the Shanghai neighbourhood, which are now falling sharply, by up to 50% according to reports.
During the event two bedroom apartments in the area surrounding the Expo Park venue on the banks of the Huangpu river were fetching as much as 6000 – 10000 Yuan per month (with those in a 1.2 mile radius attracting the highest rents), but now rents have fallen 50% in the area according to Chen Yi, manager of the Expo branch of the Centaline Property Agency Ltd.
Hotel rates in the area fell by 47% from October to November, according to Qunar, China’s largest travel website tracking the city’s 2,000 hotels.
by OP-Mall on Thursday, May 28th, 2009 in Cambodia Property, China Property, Holiday Property, Hong Kong Property, Japan Property, Shanghai Property, South-East-Asia Property, Thailand Property, Tokyo Property, Travel, Vietnam Property
Randy Lynch, founder and seasoned traveller of U.S. based luxury travel firm Kipling & Clark has compiled a list of his favourite hotels in the Asian region which has now been released by the guide.
The list features the top ten luxury hotels in all of Asia where wary travellers can rest their bodies after a hard day of sightseeing or shopping. We have listed them in order of rank below:
by OP-Mall on Monday, October 20th, 2008 in Shanghai Property
Lewis Hamilton @ Shanghai GP [Credits: Emilgh]
With the world seemingly against him, Lewis Hamilton proved them all wrong and raced to a fantastic win in Shanghai’s Formula 1 on Sunday. He was labeled arrogant by the press and some of his rival drivers even pledged to help his title rivals in order to pay him a lesson, but regardless of all the talk and chatter, the Brit is now in a sweet position to become the youngest world champion ever if he manages to finish in the top five on Nov. 2nd in Brazil’s end of season race.
by Overseas Property Mall on Thursday, September 4th, 2008 in China Property, Shanghai Property
The fourth quarter of 2007 saw the end of Beijing and Shanghai’s housing boom. As transaction volumes plummeted by as much as 25 and 40 percent from July to August 2008 and by 67 and 70 percent year on year in Beijing and Shanghai respectively, developers’ are having to offer buyers’ massive discounts to boost sales of new units. According to CCTV, last month’s (August), average daily turnover in Beijing was a meagre 150 units which in Beijing standards is a new all time low.
Secondhand properties are also not doing well with a year-on-year decline of 10-15 percent in August, sellers have having to make price cuts by as much as 5 percent.
The situation at the moment is that it is a buyers’ market in housing in 1st tier Chinese cities with more and more potential buyers waiting to see if there would be further price drops to pick up properties at bargain prices.
by Overseas Property Mall on Monday, February 4th, 2008 in China Property, Overseas Property Finance, Shanghai Property
Shanghai’s real estate market is anticipated to slow down drastically in 2008, becoming more vulnerable to government policy shifts and attract less investment. This is according to several of the larger real estate analysts.
According to a Jones Lang LaSalle report released recently, after the government implemented the land appreciation tax and imposed additional restrictions on foreign investment in the sector, real estate investment saw a slowdown in the fourth quarter of 2007 and there was only one sizable sale completed in the city.
by Overseas Property Mall on Saturday, June 23rd, 2007 in China Property, Shanghai Property
While the continued upward path of the Shanghai stock market has featured regularly in the world’s media, the city’s real estate market has not received so much attention. Nevertheless, property in China’s largest city is undoubtedly part of the boom and the web of economic dilemmas facing the Chinese authorities.
The latest efforts to curb real estate speculation have resulted in the introduction of a 20% tax on second-hand property sales. One explanation given for the increase is the authorities’ desire to prevent a speculative bubble in real estate fuelled by profits from the stock market. Another, more plausible reason is that the lure of the stock market is so great that people are selling property in order to finance speculative investments. This tax hike should certainly be seen in the context of Prime Minister Wen Jiabao’s general efforts to decelerate the juggernaut of the Chinese economy.
by Overseas Property Mall on Thursday, February 15th, 2007 in Beijing Property, China Property, Commercial Property, General, International Real Estate Trends, Shanghai Property
SHANGHAI and Beijing office properties are on top of the world – and that’s official.
The two cities led the way with an average eight percent return on investment ratio among the world’s top 12 real estate markets last year, according to a definitive report by a respected international property adviser.
In its inaugural edition of Global Investment View, CB Richard Ellis also said investment in office buildings continued to surge, with Asia and Europe recording the most significant increases in activity.
In particular, Beijing attracted 29.8 billion yuan (US$3.8 billion) in office investment in 2006, as compared to 16.7 billion yuan in 2005.
Shanghai secured 22.6 billion yuan (US$2.8 billion), an increase of 3.2 percent from a year earlier.
A substantial rise in cross-border investment activity was also recorded, as competition among investors, yield compression, and a limited pool of desirable assets have led investors to broaden their geographic search for opportunities.
According to the report, Shanghai led the Asian market with nearly 6.4 billion yuan last year, more than twice the three billion yuan recorded in 2005. American investors were responsible for 2.5 billion yuan, up from two billion yuan a year earlier.
“The increasing volume of global office investment activity over the past five years reflects the abundant institutional and private-investor capital that has been allocated to real estate and the migration of this capital across borders in pursuit of opportunity,” Gregory S. Vorwaller, president of CBRE’s investment properties group, said in the report.
“Diversification across both geography and property types will continue to drive investment portfolio decisions around the world.”
Generally, China’s mainland real estate market, which includes residential, office, hotel, retail and industrial properties, continued to be in the global investment spotlight last year.
Market Office investment Return on volume in 2006 investment rate
Beijing US$3.7b 8%
Shanghai US$2.8b 8%
Toronto US$1.4b 6.5%
New York US$23.3b 6.3%
Chicago US$8.1b 6.3%
Los Angeles US$8.3b 6%
Sydney US$1.8b 5.5%
Singapore US$2.7b 4.9%
Hong Kong* US$1.9b 4.5%
Madrid US$2.7b 4.25%
Paris US$21.2b 4%
London US$27.6b 3.75%
*Hong Kong investment totals are for the 12-month period December 1, 2005 through November 30, 2006.
Source: Shanghai Daily
by Overseas Property Mall on Wednesday, December 27th, 2006 in China Property, Shanghai Property
PROPERTY transaction centres in Shanghai now require foreigners to show immigration records when buying homes to prove that they have lived on the Chinese mainland for more than a year, the Oriental Morning Post reported today.
China unveiled a string of new policies in July to restrict overseas property investment on concerns of that an influx of foreign capital would aggravate speculation in the domestic housing market.
Under the new policies, foreigners can’t buy homes or apartments on the mainland until they’ve been here at least a year. Those who meet the residency rules must purchase property only for their own use and cannot lease it to others.
Shanghai property transaction centers can make up own rules on trading on the basis of these policies, according to Shanghai Municipal Housing, Land and Resource Administration Bureau.
Four Shanghai districts, Jing’an, Xuhui, Baoshan and Pudong New Area, have banned foreigners and overseas Chinese from buying second homes within their jurisdictions since October.
Among other measures, overseas institutions and individuals that want to purchase property for purposes other than their own use must set up a company in China, according to a joint circular issued by six government agencies.
Source: Shanghai Daily
by Overseas Property Mall on Tuesday, July 11th, 2006 in China Property, Shanghai Property
Shanghai Skyscape Originally uploaded by pmorgan. SHANGHAI residences will be in oversupply in the next few years as residents will only need up to 24 million square meters a year, while 33 million square meters of new residences may enter the market annually, China News Service quoted a survey as saying today.
In some neighborhoods, the amount of unsold residences accounts for 40 percent now.
Property sales tumbled last month by 35.6 percent to 16,245 units from a month earlier. This was the lowest in the first half of this year except in February, as many potential buyers and developers took a wait-and-see type of attitude because of the uncertainty of when and how the local government will implement new state regulations.
The transacted volume in Pudong New Area reached 2,298 units last month, nearly 1,000 less than a month earlier, although the volume was the highest among all districts in the period.
Sales in Minhang District dropped the sharpest in the period, and its sales last week fell by 48 percent from a week earlier. But sales in suburban areas, like Nanhui District, grew because of the lower prices.
Last week, residences price dropped 5.9 percent from a week earlier to 8,370 yuan (US$1,046) per square meter.
Last month, 38.9-percent less residences were promoted in the market, totaling 989,000 square meters, after the central government began implementing regulations to cool the real estate market.
“Developers are uncertain about the future market, so they are planning to sit back and wait for the changes. The real estate market will enter its off-season in the next few months,” said an anonymous developer.
Source: ShanghaiDaily
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