BEIJING, Aug 20 (Reuters) - Here is a look at the latest news, numbers and more from China's real estate market. Beijing has been working for more than two years to cool red-hot property prices but the campaign may now be adding to stress on the cooling economy and could offset the impact of any fresh policy easing.
Investment in the property sector accounted for 13.6 percent of China's gross domestic product in the first half of 2012.
REUTERS NEWS Aug 18 - China's home prices rose 0.1 percent in July from June, a second month of modest upticks that raises the risk Beijing may seek to bolster a two-year campaign to curb housing inflation, even though it is also weighing on the wider economy. Aug 17 - The California Public Employees' Retirement System will invest $530 million in two new real estate funds of ARA Asset Management that will mainly allocate to China, the biggest U.S. public pension fund said. Aug 16 - A former Morgan Stanley real estate dealmaker was sentenced to nine months in prison for skirting the bank's internal controls in an effort to enrich himself and a Chinese government official. Aug 10 - China Overseas Land & Investment expects more restrictions in China's property industry, chairman Kong Qingping said. Aug 9 - Chinese property sales rose in July, reinforcing signs of a recovery in the sector even as investment growth slowed to a three-month low due to continuing government curbs. Aug 8 - China Vanke, the country's largest home builder by sales, said it plans to develop its first overseas property as more Chinese buyers look abroad for investment opportunities, and that its first target would be the United States. Aug 6 - China Vanke Co Ltd reported a 25.1 percent rise in first-half net profits, but the housebuilder saw profit margins narrow as it cut prices to win business in the market slowdown. Aug 1 - The average home price in China's 100 major cities edged up in July for the second straight month, reinforcing signs of a recovery in the property market even as the government seeks to spur broader economic growth, a private sector survey showed.
DATA - China revised down this year's plan for residential land supply to 159,300 hectares, from a previous target of 172,600 hectares, according to data from the Ministry of Land and Resources. - China has invested 660 billion yuan in affordable homes in the first seven months, completing 3.6 million units and starting the construction of another 5.8 million, data from the Ministry of Housing and Urban-Rural Development showed. - China has per capita housing space of 36 square meters, according to a survey published by the Peking University. - The home transaction volume in Beijing was 29,089 suits in July, up 64 percent from a year earlier, its highest level since January 2011, according to data from property consultancy Centaline. - The average land prices for residential projects in China's 300 cities was 1,440 yuan ($230) per square metre in July, rising 28 percent from June but down 3 percent year-on-year, a survey from China Real Estate Index System (CREIS) showed.
CHINESE PRESS Aug 17- China's eight inspection teams, sent by the State Council to check on the implementation of property curbs, found the pressure of stabilizing housing prices in some cities was rising and reiterated local governments should strictly implement property purchases restrictions. (Xinhua News Agency) Aug 14 - China should launch real estate investment trusts (REITs) to help solve the capital shortage of building affordable housing for rent, said Jia Kang, head of the finance ministry's think-tank. (Financial News) Aug 9 - China will probably roll out new property tightening steps in August, which could either be a rise in transaction taxes of existing homes, the expansion of property tax beyond Shanghai and Chongqing, or finetuning of home pre-sale system, the newspaper cited some industry analysts as reporting. (China Securities Journal)
THEY SAID -- 'Although some trust funds invested in real estate projects may default, the possibility of them causing regional and systemic risk is small.' - Ke Kasheng, an official from the China Banking Regulatory Commission, was quoted as saying by Shanghai Securities News. -- 'China's property market will not make a turn in the coming months but it may stabilise in the first quarter of next year.' - Liu Xiaoguang, president of Beijing Capital Land, told a forum in Boao of the tropical Hainan island. ($1 = 6.3727 Chinese yuan)
(Reporting by Xiaoyi Shao and Nick Edwards; Editing by Kim Coghill) Keywords: CHINA PROPERTY/SUMMARY
(xiaoyi.shao@thomsonreuters.com)(+8610-66271221)(Reuters Messaging: xiaoyi.shao.reuters.com@reuters.net)
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