Hong Kong developers to buy more land on mainland | Tiffany jewellery

Hong Kong developers to buy more land on mainland Hong Kong developers are poised to snap up more land on the Chinese mainland at a time when their mainland rivals’ finances are being sapped by government property curbs. Builders including Sun Hung Kai Properties Ltd and Cheung Kong (Holdings) Ltd took in HK66 billion (US8.47 billion) from new apartment sales in the six months ended June, a first-half record, according to Centaline Property Agency Ltd. Mainland developers face a shortage <a href="http://www.cheapnikeairforceones.com/"><strong>air force 1 shoes</strong></a> of credit and higher interest rates, prompting Standard &amp; Poor’s to cut its outlook on the sector. “Hong Kong developers should have an advantage in acquiring land while their mainland counterparts are less aggressive,” said Jack Ye, a Shanghai-based director of investment at property broker Cushman &amp; Wakefield Inc. Mainland developers have turned cautious on land purchases as the government measures tightened their liquidity,,ugg christmas, he said. Swire Pacific Ltd on July 29 sold a mall in Hong Kong for US2.4 billion, giving funds that Core-Pacific Yamaichi International Ltd analysts said it will deploy on the mainland. On the same day Hang Lung Properties Ltd said it has built up Chinese currency holdings of 20 billion yuan (US3.1 billion) for its projects in the country. Cash-rich Hong Kong’s developers are betting there’s more upside in other mainland cities as curbs at home stem a 70 percent surge in housing prices since the start of 2009. Average <a href="http://www.cheapnikeairforceones.com/"><strong>air force one shoes</strong></a> home prices rose 0.2 percent on the mainland in July from the previous month, with prices increasing in 66 out of the 100 cities surveyed by SouFun Holding Ltd. Builders in Hong Kong are among the world’s most cash-rich after a two-and-a-half-year property boom in the city of 7.1 million people. The top 51 developers in the city have an average debt-to-common-equity ratio of 47 percent,,UGG Ultra Short 5225, compared to the average 126 percent of their counterparts in other parts of China, according to data compiled by Bloomberg News. Even the most indebted Hong Kong developer in the Hang Seng Property Index, Henderson Land Development Co, is better off than the least indebted among the mainland’s 10 biggest developers, Soho China Ltd. Henderson Land’s ratio at the end of 2010 was 34 percent, while Soho’s was 55 percent, Bloomberg data show. “Hong Kong developers have enough cash for countercyclical investments in other Chinese cities,” said Dundas Deng,,Prada Shoes, a Hong Kong-based analyst at Guotai Junan Ltd. “Hong Kong is facing a serious property bubble caused by its historically low interest rates. Hong Kong developers will need the mainland market to boost earnings, especially when interest rates rise at home.” Home prices in the city of 7.1 million may drop 30 percent by 2013, Barclays Capital said in an April 4 report, as borrowing costs rise.,official ugg boots online store, Interest rates in Hong Kong normally follow the rates set by the United States Federal Reserve as the city’s currency is pegged to the US dollar. That link has been weakened this year, with local banks increasing mortgage rates as depositors shift to yuan over Hong Kong dollars and Chinese companies seek loans in the city due to the tightening policy in China. Concern the Chinese economy may be overheating led the People’s Bank of China to raise interest rates five times and the reserve-requirement ratio 12 times since the start of 2010 to tame inflation. Some cities have imposed property taxes, down payments have been increased, and more second- and third-tier cities announced measures to damp housing prices. China failed to sell 353 parcels of land, including 163 pieces for residential development, at auction in the first seven months of this year, 242 percent more than the same period a year ago, according to Beijing Times, citing Beijing Homelink Real Estate Co. Related articles on WeblogPlaza Hong Kong developers to buy more land on mainland sets a good example for <a href="http://dynastes.dy.funpic.de/phpBB2/viewtopic.php?p=128225#128225"><strong>they cater nice support « ldafds386</strong></a> other Chinese cities Chanel Couture Fall 2011: Starry, Starry Nights An unforgettable wedding — at a discount Will and Kate's first tour to include 4,000-a-head dinner Coach Outlet British luxury brand Burberry into the Chinese market Business Registration Hong Kong Search MBT Kimondo he Lian Lian will sweat Business Registration Fee Hong Kong Related video's on Youtube