Hong Kong/China Property Daily:Inside the Great Wall
29 provinces launched hukou reform policies
Media reported that, after the recent announcement on hukou reform inShanghai, a total of 29 provinces/cities have announced hukou reformmeasures. While the common measures include the cancellation of theclassification urban and rural hukou; loosening of criteria on granting localhukou. These provinces/cities, apart from Shanghai, include: Hebei, Henan,Shandong, Shanxi, Shaanxi, Jiangxi, Hunan, Hubei, Guangdong, Guangxi,Heilongjiang, Jilin, Liaoning, Chongqing, Yunnan, Gansu, Qinghai, Fujian,Jiangsu, Anhui, Guizhou, Sichuan, Xinjiang, Ningxia, Hainan, Inner Mongoliaand Tianjin. (CFI)。
Prices increment in one-third of the projects in Nanjing has reached threshold
Media reported that, property price for the projects selling in Nanjing haveincreased by 1.88% MoM in April, marking the 13 consecutive monthlyincreases. Moreover, media also reported that 40 out of the 130 project beingtracked, their price adjustment in the year has already exceeded the thresholdset by the new tightening measures. In addition, most of the projects thatrecorded higher increase in price are located in Jiangbei District (Hexun)3 major factors reportedly supported the high property prices in 3 Tier-1 citiesAccording to HK Commercial Daily, the factors the supported the high propertyprices in Beijing, Shanghai and Shenzhen included; i) faster economicdevelopment which resulted more employment opportunities and higherincome level; ii) better public services such as education, medical, socialwelfare; iii) need for investment as well as the vanity for owning a house inTier-1 cities. (Hexun, HK Commercial Daily)。
Seven new highways in Beijing to be completed in the next 5 years
Media quoted information from the Beijing Municipal Commission of Transportthat the Beijing section of the Beijing-Taiwan Highway (whole section is stillunder planning) will hopefully to commence operation by the end of the year.Including this, a total of 7 major highways will be completed in the next fiveyears, which will better facilitate the Beijing-Tianjin-Hebei integration. (CFI)
Primary take-up of below 430sqf units in HK cannot catch up with supply
Centaline said that in the past three quarters, there were 6,546 units of class Aunits (i.e. units below 40sqm or 430sqf) being launched. Among them, therewere only 4,881 units being taken up by homebuyers. As there were moreupcoming projects with restrictive clause in unit sizes and the economy isentering a downtrend, Centaline expected these small units will have difficultyin achieving take-up. (HKET)
Valentino cuts price by 8-18%
Luxury brand Valentino announced that prices in Asia will be cut by 8-18% inorder to harmonize prices between Europe and Great China and SoutheastAsia. Valentino is a relatively well-performing brand as it still recorded 9.4%YoY growth in 1Q16 globally and achieved positive sales growth in all markets.(HKET)