|Day Low/High||45.88 / 45.88|
|52 Wk Low/High||36.96 / 45.88|
With many Chinese developers trading at records, investors should be wary. Prices for secondary homes, the best gauge of the real market, are down. Credit is tough. And raw land sometimes cost more than a new home.
The battle for China Vanke, previously the country's largest property developer, appears to have ended with the Shenzhen government taking over.
The recent Moody's downgrade of China's credit score masks the price increases and operating profits that some debt-heavy members of China Inc. are pushing through.
Prospects look particularly bearish for China's real estate sector, which makes up half of all lending in the country. Stocks could sell off fast.
Hong Kong's record-breaking property market is at levels that are virtually triple the lows seen during the Lehman bust. Mainland property companies still think they're a bargain.
Property speculation is such a popular game that Beijing is taking extreme measures to cool the market.
A lot of Chinese developers may be cowboys, but investors can use that knowledge to their advantage in a housing-price boom.