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From 2004 to 2008, the total gross floor area of residential properties sold in China increased at 13.4% annually. Some of the drivers included: improved property rights, government reforms, rapid urbanization and rising affluence. As a result, there is lots of demand for useful real estate data and consulting services. And, the leading provider is China Real Estate Information.
Well, today the company went public in the US, raising $216 million. The IPO price was $12 (between the price range of $11.80 to $13.80). So far in today's trading, the shares of China Real Estate are up 15% to $13.80.
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