China real estate round-up: more than 1000 developers disappear from 3 major cities; Beijing GDP growth slows to 7%; SOHO China buys low

More than 1000 developers disappeared from Beijing, Wuhan and Chengdu last year. The data uses different dates for each city: Beijing as of December 2011, Wuhan October 2011 and Chengdu July 2011. If over 1000 firms disappeared last year and the market has grown tighter, the numbers will be much much bigger this year. The data comes from the number of firms that did not renew their business license.

Beijing's 2012 Q1 GDP growth fell to 7%.
北京新建住宅价格连降5月 仍将继续回落

SOHO buys low. iFeng has a whole page of articles on SOHO's (0410.HK) purchase of Greentown's Shanghai project. As I have written earlier, large and well financed developers may offer value even as the market declines. As one headline puts it, SOHO China nabbed a project worth ¥15 billion for ¥2.1 billion. The value would have to collapse for the firm to lose on that deal. SOHO still has ¥12.5 billion in cash and are looking for more buys.
SOHO中国二度“抄底”绿城土地 Here's an English article on the buy: Beijing Real Estate Billionaire Couple Continues Brisk Expansion In Shanghai

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