Country Garden Services’ shares tumble after issuing warning of up to 57% drop in 2022 net profit
Shares of Country Garden Service are slumping more than 10% in Hong Kong, after issuing profit warning.Â
REAL ESTATE
Shenzhen’s second-hand home transactions in Feb hit new high since 2022
Second-hand home transactions in China’s technology hub of Shenzhen reached 1,096 units in the week of Feb 20 – 27, an increase of 24.4% from the 881 units in the previous week.
China’s property transactions tumbled in Jan due to Spring Festival holiday – research
China’s property transactions declined significantly in January on both yearly and monthly basis, due to the impact of the Spring Festival holiday, China Index Academy (CIA) said in a report.Â
Hong Kong’s live-in home price index hit highest in nine weeksÂ
Hong Kong’s Centa-City Leading Index (CCL), a gauge of lived-in home prices compiled by Centaline Property, rose to 158.75, up 0.56% from the previous week, hitting the highest in nine weeks.Â
China’s policy to boost property demand less effective than those support developers’ liquidity – Moody’s
Chinese government policies aimed at stimulating property demand have been less effective than measures supporting property developers’ liquidity needs, rating agency Moody’s said in a report.
New home prices in China’s 100 major cities fell for 7th consecutive month in Jan – researchÂ
The average new home prices in China’s 100 major cities stood at 16,174 yuan per square meter in January, falling by 0.02% from the previous month, down for the 7th consecutive month.
Chinese homebuilders’ shares slide on weak home sales in Jan, some top cities record zero new home transactions in holidays
Shares of Chinese property developer are sliding in Hong Kong, with Times China sliding more than 8% as of 3:43 pm local time, Midea Real Estate down 5.1%, KWG Group down 4.7%, China Jinmao down 4.4% and Country Garden down 3.6%.
China’s 2022 real estate investment fell for first time on record, home sales tumbled over 20% to hit six-year low
China’s real estate market remained sluggish across the year of 2022, with home sales sliding more than 20% to hit the lowest in six years and real estate investment posting the first annual drop on record.