【全球楼市】今日全球楼市速递(2010.06.06)

　　Mainland China

　　1. China's May inflation looks like being in excess of 3 percent - higher than the average level that Beijing says it can afford - as prices of daily necessities rise and liquidity levels remain high. Though most economists continue to believe interest rates will not go up in the near term, a few are concerned about high consumer prices hurting economic growth. Beijing will release its latest macroeconomic data for May on Friday. (The Standard)

　　2. China Vanke said yesterday that contracted sales in May slumped 20 percent from a year ago to 5.11 billion yuan (HK$5.83 billion). In the first five months, contracted sales - covering a total area of 2.35 million square meters - reaped 28 billion yuan, the mainland's biggest listed developer said in a statement to Shenzhen Stock Exchange. Market concerns of new tightening measures have risen as the government cracks down on speculation in the property sector. Property agents in Beijing said secondary home transactions have plunged since mid-April. (The Standard)

　　3. Home speculators will find it difficult to escape China's tougher criteria on 2nd home mortgages. Banks should consider both the mortgage and home purchase records of people applying for 2nd mortgages, and the longer the list, the higher the down payment and interest rates, said a document issued by China's housing and lending regulators and the Central Bank. It's the 1st time China has included home ownership records in determining 2nd home mortgages, meaning buyers can no longer bypass higher interest rates or down payment requirements when seeking housing loans. Previously, banks defined 2nd homes only on the mortgage record - so if a buyer had already bought 2 homes but only turned to the bank once, an application on a 3rd home would be deemed a 2nd home mortgage. Under the new rule, such an application would be defined as a 3rd home mortgage, and much harder to get. The new rule also states that out-of-town home owners who haven't paid income tax or social security funds in the previous 12 months in places where they are buying homes will also face the tougher requirement. Banks can also turn down mortgage applications in places where speculation is rampant. The new rules, posted on the Ministry of Housing and Urban-Rural Development's website on Friday, are a follow-up to an April State Council document designed to curb credit-driven property speculation. Then, the State Council raised the minimum down payment on 2nd home mortgages to 50% from 40% and increased the interest rate by 10%. The Government also recommended banks halt lending to people seeking to buy a 3rd home in places where prices had risen too rapidly or were already too high. (Shanghai Daily).

　　4. Shimao Property Holdings has acquired a luxury serviced apartment project in Beijing for 805 million yuan (HK$918.5 million). The property, Oakwood Residential Beijing, in Chaoyang district, has 202 rooms with a gross floor area of 49,000 square metres. The price represents an accommodation value of 16,428 yuan per square metre. Based on the floor area, the company said it needed to invest an additional 235 million yuan to upgrade the project, after which it would be offered for sale. (SCMP)

　　Hong Kong

　　1. A residential site in Ho Man Tin up for auction tomorrow fulfils all the criteria for achieving a jaw-dropping price – a prize location, flats that will present buyers with panoramic seaviews, and proximity to the proposed Sha Tin-Central MTR link. The auction will follow on the heels of two disappointing land sale outcomes – a residential site in Tung Chung that was sold at 5 per cent below the bottom of market forecasts on May 11, followed by withdrawal from sale due to poor bids of a mega site at Nam Cheong Station by MTR Corp last month. Taking into account the message that developers have become more conservative about land acquisitions and concerned by declining home sales, property consultants have lowered their forecasts for tomorrow’s auction by up to 10 per cent. The Ho Man Tin site is now expected to fetch between HK$7.15 billion and HK$10.58 billion. That will represent an accommodation value of between HK$8,226 and HK$12,180 per square foot on the total projected gross floor area of 869,247 sq ft. (SCMP)