China Real Estate prices could fall further -Barron’s

NEW YORK, May 23 (BestGrowthStock) – Residential real estate prices
in mainland China could fall by 30 percent according to
developer Ronnie Chan, business weekly Barron’s reported.

Chan, chairman of Hang Lung Properties (0101.HK: ) and Hang
Lung Group (0010.HK: ), hopes the market does not go down by 50
percent, “but it’s anybody’s guess,” the paper reported in its
May 24 issue.

Chan thinks the retail market will stay robust and any
declines would create buying opportunities, Barron’s said.

Hang Lung Group’s shares have slipped and are starting to
draw investors, the paper said. Brett Johnson, chief investment
officer at Grubb & Ellis Alesco Global Advisors, which runs
Grubb & Ellis AGA International Realty Fund, said the shares
are very attractive, the paper said.

Stock Market Investing

(Reporting by Franklin Paul; Editing by Leslie Adler)

China Real Estate prices could fall further -Barron’s