Follow the Debate - China Real Estate October 2011
China Real Estate
The expansion of these gigantic cities has been fast, disruptive and unprecedented in world history. It has also been accompanied by rapid price increases. But they have occurred primarily in the first-tier cities. Markets cannot easily price what they have never witnessed before.
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People's Daily 29/10/2011
Shanghai developers slash home prices
Shanghai's property prices have dropped sharply in recent weeks, with certain apartments being sold for one-third of their original prices.
"In fact, Shanghai's housing prices have been falling since March this year. So far, the prices of apartments in 50 to 60 real estate projects have dropped by more than 10 percent," said Fu Qi, a senior analyst at China Real Estate Information Corporation.
People's Daily 28/10/2011
As home prices go down, disputes surge
Shanghai municipal government has urged home buyers and property developers to resolve their disputes on home prices through talks or judicial process.
Now, as the city’s home prices have shown clear signs of weakness, thanks to Beijing’s stringent measures to prevent property bubbles from harming the broader economy, home owners on mortgage are complaining about “being forced into underwater”, staging protests which sometimes escalates to violence.
The Wall Street Journal 27/10/2011
In Deft Move, Chinese Property Tycoon Issues Own Currency
Pan Shiyi, the real-estate mogul who became an object of online ridicule earlier this month, on Wednesday showed an ability to laugh at himself – as well as an ability to turn a public-relations stumble around.
Shanghai Homeowners Smash Showroom in Protest Over Falling Prices
A weekend scuffle in Shanghai over a drop in apartment prices adds to increasing evidence that China’s efforts to tame a surging property market are having an impact – even as it offers a hint of what could happen if the measures go too far.
CCTV 26/10/2011
People's Daily 24/10/2011
Home buyers angry as project's prices lowered
ANGRY homeowners of several residential projects in Shanghai flocked to their developers' sales offices over the weekend, seeking refunds or purchase cancellations after big discounts have been offered by developers to trigger sales.
People's Daily 19/10/2011
Growth in housing prices easing off
Housing prices in 70 medium and large-sized cities saw nearly flat growth in September, according to figures released by the National Bureau of Statistics (NBS) Tuesday.
Insiders said that housing prices had hit a turning point amid weakening sales.
The Wall Street Journal 14/10/2011
Chinese City in U-Turn on Easing Property Grip
SHANGHAI—A southern Chinese city that rolled back property-purchase restrictions on Tuesday reversed course just hours later, signaling that the country's top leadership remains determined to keep a tight grip on the overheated sector.
The Wall Street Journal 12/10/2011
Chinese City Eases Property Curbs
SHANGHAI—Foshan in south China's Guangdong province Tuesday became the nation's first city to announce an easing of its curbs on the property market amid mounting concerns that the once-red-hot real-estate sector is in trouble.
The Wall Street Journal 10/10/2011
Housing, Fuel Costs Ease in China
BEIJING—Housing prices in China declined for the first time this year, according to a private index, and Beijing cut government-controlled fuel prices in response to tumbling global oil prices, two welcome developments in the country's battle against inflationary pressures.
China Housing Prices Inch Lower
SHANGHAI—China's housing prices in September recorded a modest month-over-month decline for the first time this year, according to a private market-data provider, indicating that the central government's campaign to cool the housing market had achieved some success in moderating prices.
People's Daily 10/10/2011
Houses see first drop in prices for a year
Shanghai--China's home prices fell for the first time in a year last month as a result of slack sales and tightening austerity measures, according to data released by China Index Academy.
Home prices fell an average 0.03 percent from August to 8,877 yuan (US$1,398) per square meter in 100 major cities across the country, the first monthly decline since September 2010, the property research company said.
Prices rose in 54 of 100 cities and fell in 44 cities in September from a month earlier.
On a year-on-year basis, they climbed 6.15 percent, the academy said.
China Daily 6/10/2011
China to subsidize sales of building materials in more rural areas
BEIJING, Oct. 5 (Xinhua) -- The Chinese government will subsidize sales of energy-saving building materials in more rural areas as part of the country's efforts to improve living conditions of people in the countryside.
People's Daily 6/10/2011
China on course to squeeze property bubble
BEIJING, Oct. 5 (Xinhua) -- After nearly two years of government efforts to cool the country's rampant property market, prospective homeowners are finding that housing prices may fall within their reach before long.
Home sales are drying up in many cities. Property developers are feeling strain from the credit crunch and higher borrowing costs. Analysts said real estate firms may be forced to cut prices due to the government's firm grip on the market, which has included purchase limits in cities and reduced liquidity.
Other measures put in place include higher down payments, the introduction of a property tax in some cities and the construction of low-income housing projects.
Winning Court Hearings, Losing Their Homes
Courts in the Chengdu area backed farmers over governments in demolition cases, but rejected compensation claims
It was a fight against city hall that ended in the courts, yet ultimately nothing was won and too much lost by a Chengdu-area farmer whose home was forcibly razed to make way for an industrial park.
China Themes
Yuan Revaluation & Internationalisation
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Set in Zanzibar in 1910, it is the story of two people from different worlds falling in love. Susan immerses herself in Zanzibar. Asim falls in love with this woman from the nation that killed his wife. Susan is a spy. Asim is the chief advisor to the Sultan of Zanzibar. Germany and France are holding secret negotiations to form a Pan European alliance, which would isolate Britain and destroy her power. Susan and Asim are caught up in all this and their love is finally dashed on the cold, hard reality of international high politics.
Available on Amazon's Kindle $4.99 - Over 400 Pages
Chapter One
Zanzibar
'A maharaja’s ruby cast on a Persian carpet by the blackest of hands'
Their souls danced, honouring his promise.
The ancient dhow stirred in the soft morning breeze. Like a sleepy lion, it began to move through the water, snuffling about the other boats on the harbour; some scurrying, some at anchor, some darting before a brief gust of wind. The lateen sails a bustling panorama of blood-red and sun-bleached white.
Aft, the woman's eyes searched the skyline, drinking in the architecture of Stone Town, the heart of Zanzibar; its jagged, cluttered silhouette so familiar, so much a part of her soul.
Abruptly, her eyes ceased their restless searching, jagged by an invisible hook, transfixed by the grand buildings on the northern shore, Beit-al-Ajaib, the House of Wonders, Palace to the great Sultan of Zanzibar. The distinctive architecture captured in the tropical light: coconut white outlined by contrasting shadow plays of pepper black.
A smile, ever so slight, started to play on the edge of her mouth then disappeared. A memory that should have been fond instantly turned to sharp unbearable pain. Her eyes hardened and moved on.
Without warning the captain threw the rudder over. Stumbling, the woman barked her shin on a wooden box, a rough-hewn coffin. She recoiled, knocking over an untidy stack of cane baskets. Imprisoned in the baskets, rusty cockerels, their scruffy heads straining through the latticework, snapped at her, cried out to her; their raucous din overwhelming her, drowning her.
Dimly, through the fog of noise, the strident swearing of the sailors in Kiswahili seeped into her conscious. Understanding, she smiled mirthlessly.
The coffin had been carelessly stowed, a chore, rather than a labour of respect or love.
London 1910
“Hello, who are you? I am Oliver, is Edward at home?”
The words were spoken by a tall, impeccably dressed young man as he rushed into Edward’s flat shaking off surplus water and calling for whisky while shoving his umbrella into a stand. It was a blustery, grey, bitterly cold February afternoon in the heart of London. He brushed a curl of soft auburn hair from his forehead and smiled charmingly.
Susan laughed, her hazel eyes dancing with the exhilaration of the new. “Yes, he is having a bath. I think he is trying to get warm. I’m Susan, Susan Carey, his sister.”
“Ahhh yes, from Australia. How do you do?” said Sir Oliver, smiling broadly and offering his hand. He noticed the laughter in her eyes, and the depth, particularly the depth, intensified by jade flecks that made them striking and alluring. “So, you have arrived, good trip I trust.”
“I am very well thank you, and yes, it was a good trip,” replied Susan.
He laughed and glanced at the sitting room, “whisky?”
“Oh, I’m sorry, please come in…….. that was silly of me, after all, it is your flat.”
Oliver smiled and gestured for Susan to lead the way. He followed her into the room, and after helping himself to a generous portion of whisky, walked over to the fire.
Shortly after, Edward, wrapped in a huge ruby-coloured dressing gown and wiping soap from his ear strode into the room. He was of similar age to Oliver, late twenties, well built, if slightly podgy, with dark auburn hair and a full moustache. Susan looked up and smiled to herself, she could see now where he had picked up some of his new mannerisms.
“Thought I could hear voices. I see you two have met, no need for introductions then.”
As he was speaking, Edward walked to the side table and grabbed a whisky decanter by the neck. He glanced at Oliver who nodded. A long finger snaked into one of the tumblers followed by the distinctive clink of crystal. He swept the decanter off the table and carried it to where Oliver was sitting. After pouring the whisky, he sank into a lounge chair and sipped from his glass, enjoying the warm glow as it spread through his body.
Suddenly he sat up exclaiming, “Sorry sis, would you like something to drink?”
“Kind of you to remember, but no thank you, and yes, Oliver has already inquired.”
Edward nodded and sank back into his lounge chair.
They chatted, tentatively at first, getting to know one another. Edward had not seen Susan for two years and was unsure how his sister would take his new relationship. Oliver was intrigued by Susan. An attractive, self-assured young lady of high intelligence with a degree was a rare find. And, as fate would have it, she was also a trained and experienced teacher. He suggested a picnic at Oxford, which was met with ready acquiescence. Arrangements were made for the following Sunday.
“I’ll see if the Rolls is available,” mused Oliver. “Must ring father, haven’t spoken to him in ages.”
Oliver, Sir Oliver Marchmaine, was an unaffected young man of intense intelligence who saw life as a great adventure to be lived to the full. He was also unyieldingly loyal to his country, England, which is why he had joined Military Intelligence on leaving Oxford.
It was 1910 and Europe was stirring. It was a time full of interest, intrigue and danger. The European chessboard was becoming increasingly complex, the moves more subtle. A time when an unexpected move or feint could have profound consequences.
Regaining her balance, the woman’s eyes were drawn, hesitantly at first, resisting back to Beit-al-Ajaib. She wondered if it was still the same. Still the same centre of power and intrigue that had been so much a part of her life all those years before; that had defined her life.
She remembered those first few moments, remembered standing in the foyer of the palace, .………… remembered the breathtakingly beautiful Persian tapestry ........
The sea breeze stirred her clothes. She smiled a little sadly, and in her mind the tapestry gently swayed. Two small apparitions ran giggling up the stairs: two small exquisitely rich burkas disappearing along the first floor landing. Childish squeals of mischief and joy left in the air.......
“Move to seaward, you accused of Allah! Move!”
Her thoughts were clawed back to the dhow, the captain crashing the tiller over to avoid another boat on the crowded harbour. The woman instinctively ducked her head to avoid the heavy boom as it swung over her, the rusty cockerels squawked their raucous indignation, their heads straining through the latticework, relentless.
The collision avoided, the dhow continued on its way. The cacophony dying down to the occasional command by the captain or the cry of a seagull.
The woman's thoughts returned to Beit-al-Ajaib
…………. laughing and giggling, girls of seven or eight. A door on the first floor slammed and all sounds of them disappeared. Silence. The woman smiled. She could see herself, a young woman, dressed plainly, unselfconsciously, her sexuality tantalisingly just out of reach, hidden beneath the thin veil of her clothing. She remembered standing alone in the foyer, looking around, perplexed. Asim came through a door to the left of the tapestry.
“Salaam.”
The woman started and looked around. Then, realising, was cold again. Alone again. Alone, rocking to and fro to the rythm of the sea. Alone, beside a rough-hewn coffin.
Now Available on Amazon's Kindle $4.99 - Over 400 Pages
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
