Chinese investors spent approximately 170 million pounds ($260 million) buying up newly built properties in central London in the 12 month period ending March 2010, driven by a weaker pound and tightened real estate policies at home, major international real estate service providers said.
China's property market remains an attractive place to invest despite recent tightening measures, said Fang Fang, JPMorgan's vice-chairman of Asia investment banking.
China's property market has seen soaring investment from foreign institutional investors, driven by strong expectations of renminbi appreciation this year.
China realty still a good bet
Chinese buying up investment properties in London
Impact of property policies on China's economy
China plans to widen the investment scope for its insurers by opening the real estate market for insurance capital, as limited investment channels and surging premium income bring heavier investment pressure, Monday's Wall Street Journal reported.
Chinese house prices face "very large" pressure to fall in the second half on weakening demand and increasing supply, according to a commentary in the latest edition of a central bank publication, China Finance.
Land prices in 105 major Chinese cities rose 9.29 percent year-on-year to 2,756 yuan ($406.5) per square meter in the second quarter this year, official figures released Monday indicated.
Banks in some major cities have relaxed restrictions on handing out mortgages to third-home buyers, arousing speculation over possible changes to the government's tight policy stance on the overheated real estate market.
The country will continue its tightening policies for the property sector, even as housing prices in June saw the first monthly fall since February last year, the Ministry of Housing and Urban-Rural Development said on Monday.
China shares fall on reaffirmed property curbs
Third-home mortgages back in some big cities
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Housing prices in major Chinese cities rose 11.4 percent year on year in June, one percentage point lower than the increase in May, the National Bureau of Statistics (NBS) said Monday.
Chongqing plans to build some 30 million square meters of public housing for 1.5 million city dwellers over the next three years, in order to tackle an acute housing shortage and stabilize rising property prices, said Huang Qifan, the city's mayor.
In about three months, the property market will probably reach a comprehensive correction and prices will fall in some areas. But it's hard to predict the extent of the price drop, which may vary from city to city.
China's overheated real estate market may see a big change and the property prices will drop in the fourth quarter of this year after a series of tightening measures to cool down the market.
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