Hongkong Land pays a record 31 billion yuan for Shanghai land plot as it continues its search for growth in mainland China

Hongkong Land, 50 per cent owned by Jardine Matheson, plans to build office buildings, shopping malls and high-rise apartment buildings on the plot at West Bund. The parcel will yield 1.8 million square metres (1.94 billion square feet) of gross area. Hongkong Land Holdings Limited, a unit of one of the biggest British conglomerates of the colonial era, has paid a record price for a piece of … http://bit.ly/2TTUUY9

Unfinished business

Bad news for developers as China debates whether to scrap ‘presales’ of flats. Most Hongkongers are aware there is an acute concentration of economic power in the hands of a few families in their home city. But in the 1960s – before the rise of the likes of Li Ka-shing’s Cheung Kong and the Kwok’s Sun Hung Kai – the man known as “the godfather of real estate” was Henry Fo … http://bit.ly/2EaTuEb

Is the timing right for a Chinese property tax?

Murmurs of a property tax are once again rolling around Beijing, after local media reported that a comprehensive first draft of the plan will be up for national legislative review by the end of the year, citing official sources. This latest report echoes comments made by policymakers earlier in the year. In March, the finance ministry also gave the year end as a preliminary … http://bit.ly/2P2jlPl

China’s property prices rise again, driven by smaller cities

Looser residency status and cash subsidies circumvent regulations. Real estate prices are surging throughout China despite controls put in place to ward off a property bubble. Smaller cities taking advantage of loopholes are leading the upswing. Xi’an, the capital of Shaanxi province, last year instituted rules that let college students file the city as their place of … https://s.nikkei.com/2Mq8Szp

Part and parcel

Can Reits spur government goal of a bigger rental property market? Throughout its modern history, China has been famed for its mass campaigns, most notably persuading its population to eradicate rats, flies, mosquitoes and sparrows during the so-called Four Pests Campaign between 1958 and 1962. But the government may have met its match when it comes to persuading those with … http://bit.ly/2HNapOu