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China

China’s Real Estate Bubble Soars to new Heights

Chinese Academy of Social Sciences (CASS) has found China’s Real Estate bubble has soared in urban areas despite repeated efforts of the central government to keep it under control. It has found the city of Fuzhou has the most expensive housing predicted to be 70.3 percent overvalued. Hangzhou and Nanning

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Australian Economy

China extends stress tests to steel & cement

Yesterday, the China Banking Regulatory Commission (CBRC) announced stress testing of banks with modeling to include a 60% price fall of house prices in China’s 7 top tier cities including Beijing, Shanghai and Shenzhen. Today, it has been reported the stress tests will not only include banks, but extend to

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Australian Housing

Australian and NZ Housing Bubble bigger than China’s

New Zealand Finance Minister Bill English has told Business Leaders at Auckland’s Mood of the Boardroom breakfast yesterday that by international measures, Australia’s and New Zealand housing markets are “still way overpriced” even going as far to say they are higher than China. “By any international measure, our housing market

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China

China’s chief auditor warns of mounting debt

China’s annual audit has reveled some of China’s provinces have serious debt problems. Liu Jiayi, head of the National Audit Office wrote in the report “The scale is large, and the burden is quite heavy”. In 2008 when global demand for China’s products started to fall, the government, like many

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China

Beijing : One apartment only

On Friday, Beijing introduced rules limiting families to the purchase of one new apartment in a further bid to squash rampant speculation in its property sector. Banks have also been directed to refuse home loans to applicants who cannot prove they have paid taxes and contributed to social security for

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China

China RE begins to cool

The China Daily today published figures from the China Index Academy (CIA) showing the China residential property market is beginning to cool. Of the 35 cities the CIA monitors, 21 showed a fall in the number of sales last week. Hangzhou suffered the largest drop in transactions with a fall

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China

China government introduces further measures to cool speculative property bubble

In a bid to further restrict the speculative housing bubble in China, the central government has raised the minimum deposit for families purchasing a second home from 40 to 50% and set the minimum deposit for First Home Buyers purchasing property that is larger than 90 square metres at 30%.

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China

Speculators leaving Shenzhen housing market; Volume up 467.42 percent in a month

The China Daily has reported on a 467 percent increase in trading volume for Shenzhen second hand houses in March as speculators headed for the exits. The report from the Wuhan Even News on Friday even suggested that some investors have hundreds of homes for sale. » Speculators leaving Shenzhen

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China

China house prices up 1.5% or 25% in 2009 according to source

According to statistics released by the China Land Survey and Planning Institution, house prices in China increased 25 per cent in 2009, the biggest increase since 2001. However, data from the National Bureau of Statistics suggest house prices only rose 1.5 per cent in 2009, a five year low. While

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Australian Economy

Australia for sale

With mortgage approvals in Australia falling of a cliff, and Real Estate agents reporting such a strong property market at a time when the market is flooded with near record levels of listings, one has to ask who is buying? Mortgage approvals in Australia are down 21 percent from its

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China

Bubble concern : China’s home prices “won’t drop too much” – developer

Official statistics released last Thursday showing sales of existing housing in Beijing falling 38 percent and units falling 64.2 percent in a month has prompted fears that the housing bubble in China may be losing momentum. Henry Cheng, the Managing Director of New World Development Co, a Hong Kong property

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China

China gets set to pop speculative housing bubble in 2010

In what could be seen as a splitting image of Australia, young Chinese is struggling to get into a housing market fueled by speculation. The AFP reports “The boom has been bolstered by easy bank loans, tax breaks and a lower down payment threshold, introduced by the government in the