Home mortgage loans and commercial development in China increased in the third quarter.

 

In China, not only are property values rising, but so are loans for individual home mortgages and commercial growth. However, according to third-quarter data provided online by the People's Bank of China, financing for affordable housing projects decreased. Property

At the end of September, the country's central bank reported that financial institutions had outstanding loans in the property sector of 11.74 trillion yuan ($1.86 trillion), up 12.2 percent year on year (one Chinese yuan = $0.1600 US).

According to the statement, the growth rate was 1.9 percentage points higher than at the end of the previous quarter.

Since 2010, China, the world's second-largest economy, has implemented a number of policies aimed at curbing soaring housing prices. Restrictions on second-home purchases, greater down payment requirements, and the imposition of property taxes in some areas have all been implemented.

According to government data, China's real estate market is heating up again.

According to data from the China Index Academy, average house prices in 100 Chinese cities climbed for the fourth month in a row in September, however the rate of increase decreased, possibly indicating that property prices had reached a bottom.

Outstanding loans for property construction totaled 2.96 trillion yuan at the end of last month, up 12.1 percent from the same period a year ago. The third-quarter expansion was 0.8 percentage points higher than the end of June, with land development spending increasing 7.3 percent year on year to 846.1 billion yuan, an increase of 6.5 points.

According to the bank's news release, mortgage loans to individuals increased 12.6 percent to 7.8 trillion yuan, up 1.6 percentage points from the end of the second quarter.

Loans for affordable housing initiatives, on the other hand, were down in the third quarter. Outstanding loans to the industry totaled 521.5 billion yuan at the end of September, an increase of 61.7 percent year on year but a 1% decrease from the previous quarter.

 

In 2012, the Asia-Pacific hotel market added 82,476 new rooms.

In 2012, the Asia/Pacific hotel sector added 458 new hotels with 82,476 rooms, according to STR Global.

The Upscale sector, with 17,050 rooms in 79 hotels, launched the most new rooms among the Chain Scale segments, followed by the Upper Upscale segment (45 hotels with 15,463 rooms) and the Economy sector (156 hotels with 14,194 rooms). The Midscale (33 hotels with 7,253 rooms) and Upper Midscale (34 hotels with 7,031 rooms) segments had the fewest new rooms added.

According to the December 2012 STR Global Construction Pipeline Report, the Asia/Pacific hotel construction pipeline includes 1,767 hotels with a total capacity of 385,113 rooms.

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