BEIJING, Nov 30 (Reuters) - Beijing's campaign to cool elevated property prices is stretching into its third year but these efforts are exacerbating a broader economic downturn at a time when annual growth is likely to hit 13-year lows.
Property investment accounted for 14.4 percent of China's gross domestic product in the first nine months of 2012.
Here is a look at the latest news, numbers and more from China's real estate market.
Nov 29 - Ratings agency Moody's Investors Service changed its outlook for China's property industry to stable from negative on expectations that sales and access to funding will continue to improve next year.
Nov 23 - Chinese property company Future Land Development Holdings Ltd raised about $265 million in a Hong Kong initial public offering, pricing the deal at the bottom of its proposed range in the latest sign of the tough fund-raising environment in the city.
- Affordable homes will account for about 13 percent of China's overall housing market in 2012, according to data from the Ministry of Finance.
- Shanghai, Beijing and several second-tier Chinese cities including Chongqing, Tianjin and Shenyang were ranked among the top ten cities for investment and development prospects in the Asia-Pacific, according to a report jointly released by PricewaterhouseCoopers and the Urban Land Institute.
- The unsold inventory of new homes in Beijing reached over 54,000 units with another 9,000 units coming onto the market by the end of this year, data from the city's commission for housing and urban-rural development showed.
- Shanghai should have levied its maiden property tax on 50,000 units of residential homes under a pilot scheme launched last year, accounting for 20 percent of all registered flats, according to data from the Shanghai Taxation Bureau.
- Land sale revenues in Beijing reached 52.7 billion yuan ($8.4 billion) so far this year, equivalent to only half of last year's total revenue, data from local consultant Home Link showed.
Nov 28 - Shanghai authorities sold a plot of land at a record price of 36,176 yuan ($5,800) per square metre at an auction. (China Business News)
Nov 28 - There is no panic buying of homes in Beijing and abundant supply has kept the market stable, officials from the city's commission for housing and urban-rural development said.(People's Daily)
Nov 21 - New home prices in Beijing averaged 20,800 yuan ($3,300) per square metre in October, down 0.8 percent from September, data from the city's commission for housing and urban-rural development showed. (Beijing Daily)
Nov 20 - China will consolidate its present array of property transaction taxes and study ways to take nationwide its pilot property tax reform, Finance Minister Xie Xuren said. (Economic Daily)
-- 'China's home prices will not rise sharply as long as the government does not loosen its grip on housing curbs.' (Mao Daqing, vice president of China Vanke Co Ltd, speaking at the sidelines of a forum.)
-- 'Official data showed China's total land area bought by developers fell 18 percent in the first 10 months from a year earlier...Local governments must be very, very worried about the current situation.' (Nie Meisheng, honorary president of the semi-official China Real Estate Chamber of Commerce, told a forum) ($1 = 6.2281 Chinese yuan)
(Reporting By Xiaoyi Shao and Koh Gui Qing; Editing by Sunil Nair) Keywords: CHINA PROPERTY/SUMMARY
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