Strong home sales, access to credit and improved sentiment have helped developers acquire land and speed up the pace of construction in China, Reuters reports in explaining an 8.4 percent jump in construction starts during the first seven months of 2013. Real estate investment was up 20.5 percent, and growth in revenues from property sales was up 37.8 percent.
The Chinese government has tried to rein in speculation that’s helped drive real estate valuations up at what some have seen as an alarming pace. A “handful” of real estate companies have recently announced refinancing plans to fund development of housing projects, “a sign that a ban on refinancing by listed developers may be quietly lifted,” Reuters said. Source: reuters.com.
