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☆ China's property prices to rise in 2023, sales to fall more slowly
  + stars: | 2022-11-18 | by ( ) www.reuters.com   time to read: +3 min
"Property measures are expected to strengthen support, which will improve residents' confidence." A recent slew of support measures, including loan repayment extensions, aimed at improving liquidity in the property sector has underpinned market sentiment. But analysts and economists in the poll expected concerns about falling house prices, protracted COVID restrictions, and delays in construction to continue to weigh on demand. Property sales were seen slumping 5.0% in the first half of 2023, a smaller drop than the 15.0% fall forecast in the September poll. Some analysts say average house prices will need to fall by around 20% to 30% to entice demand.
☆ China's real estate crisis could be over with new rescue plan. Property stocks are soaring
  + stars: | 2022-11-14 | by ( Laura He | ) edition.cnn.com   time to read: +3 min
Hong Kong CNN Business —Chinese authorities are making their biggest effort yet to end a crisis in the country’s vast real estate sector that has weighed heavily on the economy over the past year. Tao Wang, chief China economist at UBS, described the package of measures as a “turning point” for China’s property sector. Along with other policies announced earlier this year, it could inject more than 1 trillion yuan ($142 billion) into real estate, she estimated. In October, sales by the 100 biggest real estate developers contracted 26.5% from a year ago, according to a private survey by China Index Academy, a top real estate research firm. “Beijing’s zero-Covid strategy, despite some latest fine tuning, will continue to weigh on the property sector,” they added.
☆ China property slump persists in October with falling prices, sales as COVID bites
  + stars: | 2022-11-01 | by ( Reuters Staff | ) www.reuters.com   time to read: +2 min
BEIJING (Reuters) - China’s property market continued its slump in October, with private data showing home prices and sales falling, suggesting lacklustre sentiment and a bleak outlook amid strict COVID curbs, which hit consumer confidence. Property sales by floor area in 100 cities fell about 20% year-on-year in October, according to a separate statement by the academy. Analyst Chen Wenjing at the research firm said property recovery depends on COVID containment measures and the strength of policies. Any rebound in the real estate market is expected to be delayed if the country sticks with strict COVID restrictions to quell the repeated coronavirus outbreaks, Chen said. Home sales by floor area in Shanghai and Guangzhou fell 35% and 26% in annual terms, respectively.
☆ China property stocks rise after easing of share financing rules
  + stars: | 2022-10-21 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Aly SongSHANGHAI, Oct 21 (Reuters) - China's property shares jumped on Friday after state media said authorities will ease share financing rules for certain real estate-related firms, fuelling hopes of more measures to aid the struggling sector. The China Securities Regulatory Commission (CSRC) will allow certain companies with small property interests to raise money by selling A-shares, but the proceeds cannot be invested in the real estate business, China Securities Journal reported. For eligible companies, real estate must not be their core business, and should not contribute more than 10% of their profit, according to the article. Register now for FREE unlimited access to Reuters.com RegisterChina has barred its property firms or property-related firms from financing via the domestic A-share market since end-2018, including both IPOs and additional or follow-up share sales. "The move aims to better support real financing for firms and stabilise the broader economy," said Liu Shui, an analyst at China Index Academy.
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