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August 15, 2012 9:20 AM Posted By: Melissa M. Chan As criticism of land grabs and forced demolitions continues, the Wall Street Journal reports that despite signs of a rebound in the property market, Chinese developers are skittish at land auctions: A number of cities, including Shenyang, Dalian, Zhuhai and Tianjin, have seen disappointing land auctions, with many real-estate developers reluctant to add to their land holdings. That is bad news for local governments, which depend on land sales for a large slice of their revenue. Data from the Ministry of Finance show that revenue nationwide from land transfers dropped 27.1% to 1.35 trillion yuan ($212.1 billion) in the first seven months of the year compared with a year earlier. Government officials in Shenyang, Dalian and Tianjin all declined to discuss the data. An official in Zhuhai conceded that there has been a problem selling land even at reduced prices, adding that this has squeezed government resources. "It's difficult to sell land now," the official said. "The government had to scrap plans for auctions, and has had to sit tight and see how things work out." Some cash-rich companies like China Vanke Co., 000002.SZ -0.12% the nation's biggest listed developer by market value, have jumped into the market, either at auction or in second-hand deals. But others are holding back, waiting for local governments to lower their prices or to see if the market is making a more solid turnaround. Amid difficulties in auctioning off land, Beijing and local governments have produced conflicting real estate policies. From MarketWatch: Over the pas

UPDATE: China Average Housing Price Rises in June After 9 Months of Decline - CREIS - China housing prices rebounded for the first time in June on month after nine months of decline, according to a private data provider -- Average housing price in June was CNY8,688 a square meter, rising 0.05% from CNY8,684 in May, reversing from May's 0.31% decline -- Housing prices in Inner Mongolia's Baotou city and Beijing rose by the widest margin, at 2.6% and 2.3%, respectively -- Sales have improved as China eases monetary policy, and prices are rising as developers have started to reduce discounts, analysts say (Adds comments from analysts in third to fourth paragraphs, 13th to 14th paragraphs, a homebuyer's comment in 10th to 12th paragraphs and background onrecent property easing moves by local governments in the final paragraphs.) By Esther Fung SHANGHAI--The average price of housing in 100 major Chinese cities recorded its first sequential rise in June after nine straight months of decline, in a further sign that the housing market is turning a corner, though analysts say a robust rebound in prices remains unlikely. A survey of property developers and real-estate firms showed the average price of housing in June was CNY8,688 a square meter, rising 0.05% from CNY8,684 in May, and overturning May's 0.31% decline, data provider China Real Estate Index System said Monday. "I believe the housing market has bottomed out," said Nicole Wong, a property analyst from CLSA. She also said that inventory will likely peak in the third quarter and prices will rise by a modest 5% by the fourth quarter, as demand for new launches has been strengthening in the past few months and developers don't need to lower their prices too much to attract buyers. On an on-year basis, the average housing price fell for a third consecutive month, sliding 1.90% from CNY8,856 booked in June 2011, and accelerating from May's 1.53% decline. The survey, compiled wi

China's Real Estate Bubble Bursts -- Good or Bad? The latest outlook from the Organization for Economic Co-operation and Development (OECD) says China's real estate market fluctuations are a major threat to its growth next year.

DOI : http://dx.doi.org.gate3.inist.fr/10.1016/j.euroecorev.2012.02.012 [ScienceDirect, via Biblio-SHS] Auteur : Siqi Zheng (Tsinghua University, China), Jing Wu (University of California at Los Angeles), Matthew E. Kahn (National Bureau of Economic Research (NBER), USA), Yongheng Deng (National University of Singapore, Singapore) Paru dans : European Economic Review Volume 56, Issue 5, July 2012, Pages 974-984, "Green Building, the Economy, and Public Policy" Abstract In recent years, formal certification programs for rating and evaluating the sustainability and energy efficiency of buildings have proliferated around the world. Developers recognize that such "green labels" differentiate products and allow them to charge a price premium. China has not formally adopted such rating standards. In the absence of such standards, developers are competing with each other based on their own self-reported indicators of their buildings' "greenness". We create an index using Google search to rank housing complexes in Beijing with respect to their "marketing greenness" and document that these "green" units sell for a price premium at the presale stage but they subsequently resell or rent for a price discount. An introduction of a standardized official certification program would help "green" demanders to acquire units that they desire and would accelerate the advance of China's nascent green real estate market. Highlights ► China has not formally adopted rating standards for "green" buildings. ► We create a Google index to rank "marketing greenness" of housing complexes in Beijing. ► Developers charge a price premium for self-reported buildings' "greenness" during presale. ► These "green" premiums disappear in the subsequent resells and the rental market. ► A standardized certification program would advance China's nascent green real estate market.

Thématique n° 2 [ScienceDirect, via Biblio-SHS] Auteur : Jing Wu, Joseph Gyourko, Yongheng Deng Paru dans : Regional Science and Urban Economics, Volume 42, Issue 3, May 2012, Pages 531-543, Special Section on Asian Real Estate Market Abstract High and rising prices in Chinese housing markets have attracted global attention. Price-to-rent ratios in Beijing and seven other large markets across the country have increased by 30% to 70% since the beginning of 2007. Current price-to-rent ratios imply very low user costs of no more than 2%-3% of house value. Very high expected capital gains appear necessary to justify such low user costs of owning. Our calculations suggest that even modest declines in expected appreciation would lead to large price declines of over 40% in markets such as Beijing, absent offsetting rent increases or other countervailing factors. Price-to-income ratios also are at their highest levels ever in Beijing and select other markets, but urban income growth has outpaced price appreciation in major markets off the coast. Much of the increase in prices is occurring in land values. Using data from the local land auction market in Beijing, we are able to produce a constant quality land price index for that city. Real, constant quality land values have increased by nearly 800% since the first quarter of 2003, with half that rise occurring over the past two years. State-owned enterprises controlled by the central government have played an important role in this increase, as our analysis shows they paid 27% more than other bidders for an otherwise equivalent land parcel.

Construction and Real Estate Hinder China's Growth By KEITH BRADSHER Published: September 9, 2012 CHENGDU, China - With more than 100 tall cranes on the skyline, this metropolis in western China looks vibrant at first glance despite the country's sharp economic slowdown.

This blog contains information and ideas about the interrelationship of religion, nature and modernity with a focus on China. The underlying premises are that religious values and ideas are key resources for constructing a sustainable future for the human species, and that nowhere on the planet is this more important than China. China is the world's largest country by population, the second largest economy in real GDP terms, and the largest emitter of greenhouse gases.

As China's real estate market continues to cool, experts have warned that a collapse in the market could spell disaster for the economy. This poses a dilemma for the Chinese regime. Sky-high property prices can fuel social tensions, but a reverse of the property boom could damage Beijing's bid to maintain the economy.

China's urbanization has been inefficient as a result of an unhealthy real estate system, according to Wu Jinglian, a leading economist speaking in China's Economy Development Innovation Forum in Shanghai.

Xuefei Ren's work on the high-end of the building boom in China brings together the sociology of globalization with the study of architecture and the built environment. Building Globalization treats architectural production as crucial to the material and symbolic ways in which global cities are made. Based on Ren's doctoral research at the University of Chicago, the book draws on fieldwork conducted in Beijing and Shanghai between 2004 and 2008, covering the bull years leading up to the Beijing Olympics. China is now taken to exemplify the geo-demographic shift that has seen developing countries lead current processes of urbanisation. However the Chinese government's attitude towards quanqiuhua chengshi (global cities) and its support for rapid urban growth from the mid-late 1990s represented a striking reversal of official policy which had been to limit the growth of large cities and promote instead the development of small-medium centres (p.11). The re-scaling of state power to metropolitan level in the interests of enhancing urban competitiveness has been an international trend in recent decades. In China this has proved particularly effective in driving urban growth, given state ownership of land and government control over household registration, urban planning and development decisions. Metropolitan governments in China have the kind of ownership and discretionary powers of which the most boosterist western city mayors can only dream. Ren argues convincingly that the processes shaping these cities are increasingly transnational; in particular, the forces that make buildings 'operate beyond national boundaries, as seen in the circulation of investment capital, the movements of built-environment professionals, and the diffusion of new technologies' (p.6). However, while Chinese economic growth may have destabilized a global balance of power dominated by the triad of the USA, the European Union and Japan, Ren's analysis suggests that older core-peripher

DOI : http://dx.doi.org.gate3.inist.fr/10.1016/j.enpol.2012.05.080 [ScienceDirect, via Biblio-SHS] Auteur : Nyakundi M. Michieka, Jerald J. Fletcher Paru dans : Energy Policy, Available online 22 June 2012 Abstract This paper investigates the causal relationship between urban population, real GDP, electricity production and coal consumption in China for the period 1971-2009. Using a vector autoregression framework and a modified version of the Granger (1969) causality test proposed by Toda and Yamamoto (J. Econ. 66 (1995) 225), the results suggest that there is causality running from GDP to coal consumption. The variance decomposition analysis report that urban population and coal affect electricity production variability over the forecast period. We also find that increasing urban population may negatively affect China's GDP over time. Policy measures aimed at influencing GDP could ultimately affect coal consumption. Highlights ► We find Granger Causality running from GDP to coal consumption. ► China can mitigate the adverse environmental effects of coal by altering GDP path. ► We find Granger Causality running from urbanization to electricity production. ► China needs to find other sources of energy to cater for growing electricity demand. ► Increasing urban population may slow economic growth due to overcrowding in cities.

The East Is Rising Meet the 29 Chinese cities powering global growth. BY ELIAS GROLL | SEPT/OCT 2012 Keren Su/Getty Images 1 / 30 Foreign Policy's index of the 75 most dynamic global cities contains more than a few surprises, but perhaps none more so than the fact that 29 of these cities are in China -- far and away the most of any country on the list. As part of its mad dash toward modernization, China has rapidly urbanized, spawning a slew of massive cities whose size is only tempered by the surprising fact that most people in the West have never heard of them. Despite their relative anonymity, these are the cities likely to drive the world economy during coming decades. Some are high-tech manufacturers; others are bathed in smoke produced by the factories that not long ago were a common sight in Western countries. Meet the 29 Chinese cities powering global growth. Shanghai: Although Shanghai had no skyscrapers in 1980, it now has at least 4,000 -- more than twice as many as New York. In 2010, 208 million square feet of real estate, nearly 80 times the square footage of New York's massive One World Trade Center, was constructed in the city. Above, the Jinmao Building and Oriental Pearl TV Tower can be seen dominating the Shanghai skyline as its rises from the banks of Huangpu River. [...] En ligne, site consulté le 17/08/2012

[ScienceDirect, via Biblio-SHS] Auteur : Adolf K.Y. Ng, James J. Wang Paru dans : Research in Transportation Economics, Volume 35, Issue 1, Pages 1-66 (May 2012) Editorial 1. Introduction Globalization has brought China ever close to the rest of the world not only through its trade and transport networks, but also many transport-related issues that seem to be in common among other countries, while simultaneously with special causes deep-rooted from its unique pathway of development especially in the past several decades. The major fundamental difference of China's development from other countries lies in its economy in general, while the transport sector, in particular, lies in the role of the government. Indeed, since the global financial crisis in 2008, advanced economies, such as the US and several EU countries, have intensified on how to redefine and strengthen the role of the state within respective economies. On the contrary, the Chinese situation is exactly the other way round: the debate is about how to reduce interferences from the very strong hands of the government towards a real regulated market. In this respect, the transport sector typifies this ongoing marketization process. On one extreme, the mode of highway transportation is fully marketized: private investors may construct toll expressways in almost any provinces, either as joint ventures partnering with state-owned firms or just as fully private developers. On the other side of the continuum, after more than three decades of 'reforms', railway infrastructures, as well as their operation, are still fully and tightly controlled by the Ministry of Railways (MOR) through its subsidiary's monopoly. In-between the highways and railways are air and maritime transportation, both of which being characterized by oligopolies with two to three state-owned listed companies taking up more than 80% of the market share. Given such situation, there is a clear interest for further understanding and re

The influence of regional culture and values on Chinese urban residential choice has been steadily increasing, but unconsciously. Indeed, recent scholars have studied a variety of phenomena that imply a certain shift- away from classical explanations of urban residential choice and real estate patterns. This has led to the coining of some new terms and concepts, such as "Xuequ House", "Mortgage Slave", "Woju" and "Ant Tribe". This tendency towards the study of culture and values is directly related to the Theory of Scenes from the Chicago School of Sociology. In this paper, we apply the Theory of Scenes to Chinese urban residential choice research. First, we review the relevant theories and Chinese urban history, especially the changes after 1949, and present three hypotheses. Then, based on the Scenes theory, we construct a cultural framework to study 375 countries of 35 first-tier cities of China. Aiming at Chinese urban inhabitants from twelve different age groups, we use the Stepwise Regress model to do the statistical analysis. In doing so, we prove our assumptions regarding the importance of regional culture and value. Based on these conclusions, we proceed to give some relevant policy suggestions to the Ministry of Housing and Urban-Rural Development of the People's Republic of China and the local Municipal Bureau of Planning and Land Resources.

by Nicholas Borst |September 12th, 2012 It's an article of faith amongst many analysts that China's rapid urbanization will inevitably suck up any excess housing supply and boost consumption as new urbanites enter the middle class.