Property 

China takes top spot for private equity property investment in Asia in Q1, while Hong Kong finds itself in dogfight with India

Global private equity funds – the most agile investor in the cross-border real estate world – poured US$5.1 billion into China and Hong Kong property in the first quarter of this year, making the spots the top and third most favoured destinations respectively in Asia, according to Knight Frank.China absorbed US$3.6 billion of private equity capital in the first quarter while Hong Kong took in US$1.53 billion. By comparison, $1.56 billion went to second-placed India and $1.3 billion to Japan,… Source link

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Property 

Protest against controversial extradition bill casts shadow on Hong Kong’s largest property sales since early May

Property sales were disappointing on Sunday in Hong Kong’s biggest offering since early May, as buyers stayed away amid huge protests in the city against a proposed extradition bill, and ongoing concerns over the US-China trade war.Not only is Hong Kong sitting in the middle of a worsening US-China trade war, but also its own political turmoil as protesters took to the streets on Sunday for a third time in a week against a proposed extradition law that would allow suspects to be sent to… Source link

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Property 

Seller incurs US$2.3 million, 50 per cent loss on unit at Seascape as Singapore’s Sentosa Cove continues to struggle

The loss-making deals continue at Sentosa Cove, a billionaire’s playground in Singapore that has become a lesson about the pitfalls of property speculation.The seller of a 2,336 square foot, three-bedroom home at Seascape incurred a S$3.17 million (US$2.32 million) loss on May 23, the most unprofitable transaction in Singapore during the week of May 21 to 28.The ground-floor unit was one of the first to be purchased when the seafront condo in Sentosa’s residential enclave was first launched for… Source link

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Property 

The Chinese hotel mogul behind three Nasdaq listings thinks now is the time to head abroad for deals while rivals stay at home

Ji Qi, the hotel mogul who took three Chinese start-ups including the country’s largest online travel agency Ctrip.com to list on the Nasdaq, said now is the time to expand abroad while the competition is being cowed to stay homebound by the trade war and China’s crackdown on freewheeling.Outbound acquisitions have stalled among Chinese companies since April 2017, when regulators put half a dozen highly leveraged asset buyers – including the Anbang Group, CEFC, Dalian Wanda and the HNA Group –… Source link

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Property 

Japanese real estate is looking like a good bet as Chinese grow weary of traditional hotspots Vancouver, Sydney

Japan’s property market appears to be a beneficiary from the worsening of US-China trade war, as a rising number of affluent mainlanders shift their attention to assets in Tokyo ahead of next year’s Olympic Games.Property portal Juwai.com said its data showed interest by Chinese buyers in the Tokyo property market had risen by a factor of 10 in the first quarter, versus the number of inquiries made a year earlier.“Some Chinese buyers are holding back from residential real estate in the US… Source link

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Property 

HSBC sounds alarm over ‘vulnerable’ Canadian housing market as global home prices cool

Home prices, a gauge of an economy’s health, cooled across the globe in the last quarter of 2018, but higher interest rates in Canada have made the country’s housing market more vulnerable than other economies, according to the latest report from HSBC.In the last three months of the year, nominal prices of residential units were up by an average of 4 per cent globally, with real prices down by 2 percentage points.Nominal home prices in Canada rose 2 per cent, while real house prices declined 0… Source link

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Property 

Real estate developers slammed after China reportedly tightens access to bond market funding

Shares of Chinese real estate developers were under pressure on Monday after reports that regulators plan to restrict access to funding through the bond market, reflecting the latest move to cool a property market that has been heating up since early this year.The bond financing halt, could be a blow to developers who count on the bond market as a major financing channel, aside from direct bank loans, shadow banking and offshore funding.The 40 top property developers monitored by Shanghai based… Source link

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Property 

Worsening US-China trade war hits Hong Kong’s office rental market as companies put expansion plans on hold

The worsening US-China trade war, which continues to depress stock markets and the economy, is affecting Hong Kong’s office leasing market, as a growing number of companies are holding back their expansion or relocation plans, say market observers.Hedge funds, asset management companies and foreign trading firms are taking a wait-and-see approach.Hong Kong’s benchmark Hang Seng Index lost 9.42 per cent of its value last month after the US escalated the trade war by announcing an increase in… Source link

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Property 

Noise-reducing balconies and large storage spaces do not deter Hong Kong buyers seeking flats under Home Ownership Scheme

Unusual features such as noise-reducing balconies and large storage rooms in government-built homes have not dampened interest in the latest batch of subsidised flats, even though they take up floor space and cost hundreds of thousands of dollars.The features, designed to cope with noise levels on estates built near major roads, included balconies that took up as much as 10 per cent of the internal floor space and storage rooms as big as kitchens.The city’s largest provider of public housing… Source link

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Property 

Beijingers look to co-living as a tonic for the loneliness of the modern Chinese city

Some young professionals in ­Beijing are taking to the co-living concept as a way to meet new people and recapture a sense of community living.For many mainlanders, the co-living concept is reminiscent of the housing conditions of the 1990s when much of the urban housing stock was assigned by work units.While much of that housing was considered ramshackle, it did provide a sense of community where it was common to know one’s neighbours. The blocks of high-rise flats that have risen across… Source link

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