THE average cost of new homes in China rose for the fourth consecutive month in August, the China Index Academy said in a latest report.
The mean selling price of new homes in 100 cities rose 0.95 percent to 10,787 yuan (US$1,690) per square meter last month, up from a 0.54 percent gain in July and a climb of 0.56 percent in June, the academy said.
Nationwide, prices gained in 51 cities, up five cities from July. Prices fell in the remaining 49 cities.
In the 10 largest cities, new houses sold for an average 19,962 yuan per square meter, a monthly gain of 1.95 percent.
Shanghai led gainers with a rise of 3.77 percent for new homes, mainly due to a structural shift.
“The domestic real estate market continued to rebound amid a series of easing policies which include the cut in interest rate and reserve requirement ratio,” the academy said.
“That will strengthen the market in September which is the traditional high season for property sales while home prices will probably remain stable as inventories across the country still stay at high levels generally.”
Shanghai posted the highest August volume in the area of new homes sold in six years despite a monthly drop.
The area of new homes sold, excluding government-funded affordable housing, fell 7.4 percent month on month to 1.246 million square meters in August. But the area sold remained above the 1.2-million-square-meter barrier for the fifth straight month, Shanghai Homelink Real Estate Agency Co said in a report released yesterday.
“Despite the decline, it is the highest August volume registered in six years, which indicated really strong sentiment among home buyers,” said Lu Qilin, director of research at Shanghai Homelink. “We expect that to extend through September and October as the central government has been unveiling positive gestures since late last year to boost buyers’ sentiment.”
Lu referred to the People’s Bank of China’s immediate 25-basis-point cut in the benchmark lending rates and the deposit rates on August 25, the fourth cut in under 10 months.
New homes sold for 30,071 yuan per square meter in Shanghai in August, down 13.2 percent from July, according to Homelink data
When you get them, please post and I remember you doing to somebody in the past and posting. They were funny. Thanks.
“Scott Walker is a fine individual, and we wish him well,” the Kochs’ statement read. “We are confident that he will be a good fit for some other billionaire industrialists.”
Republican insiders, however, called the Kochs’ plan to sell Walker highly optimistic, and noted that the market for the Wisconsin Governor was, at this point, virtually nonexistent.
The Kochs, who reportedly had been frustrated by Walker’s poor performance in the polls, finally decided to sell the Wisconsinite after last weekend’s odd pronouncement, in which he seemed to support a border wall with Canada.
According to a Koch associate, “Ignorance has always been a part of Scott’s appeal, but that Canada thing was just too much.”
After their plan to sell him was announced, the Kochs immediately pulled Walker off the campaign trail for fear that he might say something that would further reduce his dwindling market value.
In Iowa, an aide to Walker said that the Governor was “still processing” the news that he had been put up for sale. “It takes a while for Scott to understand things,” the aide said
Although the number of homes available for sale throughout the second quarter was 5,262 homes — a jump of 17.4 percent from last year — it was still less than half (44.6 percent) of the total number of homes available for sale in Manhattan. Inventory grew in all five of Brooklyn’s submarkets, although the strongest growth was seen in East Brooklyn, which includes Crown Heights, Bedford-Stuyvesant, Bushwick, Brownsville and East New York and North Brooklyn, which includes Williamsburg and Greenpoint.
The median sale-to-list price ratio rose by 0.4 percent from last year to 100.0 percent in the second quarter, meaning Brooklyn home sellers could expect to receive most, if not all of their initial asking price in the final sale of their home. Sale-to-list price ratios exceeded 100 percent in the Prospect Park (101.8 percent) and East Brooklyn (101.2 percent) submarkets, which were fertile grounds for bidding wars as buyers fiercely competed for available units in those areas. Other key price indicators show that sellers retain more of the bargaining power in Brooklyn. The share of all homes for sale that saw a price cut fell by 4.4 percent from last year to 21.2 percent in the second quarter, and the median discount between initial asking price and final recorded sales price fell to 5.65 percent
Brooklyn Homes Sell Faster Than Manhattan Homes
Despite the growth in prices, Brooklyn buyers were quick to close on sales in the second quarter. The median time on market of homes that went into contract was 41 days – three days shorter than Manhattan homes during the same quarter, but six days longer than last year. Homes sold the quickest in the Prospect Park submarket (31 days), followed by North Brooklyn (35 days), Northwest Brooklyn (36 days), South Brooklyn (55 days) and East Brooklyn (58 days). The demand for higher-priced homes in Brooklyn was particularly acute in the second quarter. Homes priced in the top price tier (above $716,000) took just 36 days to sell, whereas homes priced in the bottom price tier (below $381,000) took 54 days to sell, indicating that newer or higher-quality units in Brooklyn were far more attractive to existing buyers than older and perhaps lower-quality listings.
I do not want you to give me thumbs up. I want you guys to expand on this and share your wisdom to help people like me. Guys, come on, I am not asking for too much. Come on!
Give shares of about $25 Million worth at under $14 dollars or split with BP and give away chunks of profits?
is that the choice. And I hear that Mr. Goodman is very good partner to have, and DOC roping him to work with.
Now you guys can provide your insight. I will learn, please.
What does Oosten neighborhood mean- he means Willamsburg, Brooklyn Heights next door or whole of Brooklyn. Sorry for asking you, because in-breed #$%$ has never lived outside he was raised and I do not get his concerns. If you do not get it like me, never mind and sorry for botherin you.
Not me-! I am here because of science and very naïve about market, but I think that has helped me. I like it lower until science pans out, because I can buy it lower.
SouFun, the nation’s largest real-estate information website, climbed 6.5 percent to $5.78 in New York, while Leju Holdings Ltd. advanced 3.2 percent to $5.48. NQ Mobile Inc., the mobile security company that’s been criticized by short sellers, surged 39 percent after agreeing to sell two units. A Bloomberg gauge of the most-traded Chinese companies in the U.S. surged 5.8 percent amid a global equity rally.
Overseas companies’ Chinese units and foreign nationals working and living in China can buy properties for their own use, several Chinese government agencies said in a joint statement Thursday, lifting a restriction introduced in 2006 on property purchases by foreigners. The relaxation came as a stock selloff in the past two months erased $5 trillion from mainland markets and the yuan weakened to the lowest level since 2011 after the government devalued the currency. Authorities in March removed some property curbs on residents amid slumping sales.
muddy waters screwed US investors on $FMCN then it was taken profit and stock up 3x...now MW did it again to $NQ dummies who sold. call SEC!
Last I know, Muddy Waters was not chinese but a party boy at USC (father was convicted of crimes in stock market) and truth is the fruits do not fall far the tree.
They spent $400 billion to stave a crisis so far and still have $3 trillion dollars in reserve, but we spent about $5 trillion and did not have a 10th of it in reserves. Just pointing.
When the in-bred evil says you are saying something intelligent, think about it.
1. The guy who talked about empty or ghosts cities, Chanos is shorting Solar City too, and being trolled by an Analyst saying Chanos is lying.
2. How is lying by Chinese Govt. different then lying about Iraq war costs by the American Government and war dragging on and costing us over $6 trillion dollars.