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China home buyers wait for better deals as developers see big drop in contracted sales in July amid economic slowdown

Potential homebuyers in China are waiting on the sidelines, hoping for better deals.New data suggests a break in prices might be coming.In July, China’s top 10 builders recorded a month-on-month fall of 80 billion yuan (US$11.4 billion) in total contracted sales, due to a combination of a slowdown in the economy and government policies to clamp down on their debt.The biggest plunge among them was 58 per cent. The top 100 developers saw an average fall of 29 per cent.The question is whether… Source link

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Buyers shrug off Hong Kong rallies to snap up Aurora flats in Tsuen Wan, offered at 10 per cent discount to the neighbourhood

Homebuyers shrugged off a downpour and Hong Kong’s 11th week of street protests to snap up the flats offered at a discount by Billion Development & Project Management in Tsuen Wan.Billion sold 300 flats, or 85 per cent of the 354 available units on offer at The Aurora as at 5pm, sales agents said, adding that they expect the project to sell out by the end of the day.Prices at The Aurora start at HK$3.81 million (US$485,720), or HK$17,558 per square foot, for a 217-square foot (20 square metre)… Source…

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Property 

Property buyers snap up Great Eagle Holdings’ flats in Tai Po even as two simultaneous rallies rattle Hong Kong’s nerves

Hong Kong investors have snapped up the latest launch of small flats, as the first interest rate cut in more than a decade persuaded buyers to set aside concerns of rising political instability, even as protesters held two opposing rallies simultaneously across the city.Great Eagle Holdings sold 119 flats, or 96 per cent of 124 flats on offer at its Ontolo complex in Pak Shek Kok of Tai Po as at 3pm, according to sales agents, who predicted that the developer would chalk up a second weekend of… Source link

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Singapore’s new homes widen their price gap over older real estate, buoyed by interest from foreign buyers

As the political unrest in Hong Kong has taken a violent turn, there is growing unease among the wealthy. A side-effect has been an increase in enquiries and expressions of interest about buying residential property in Singapore from private bankers in Hong Kong, according to some property agents.“It’s not just private bankers inquiring on behalf of their clients in Greater China including Hong Kong, but the private bankers themselves are house-hunting in Singapore too,” said Ken Low, managing… Source link

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Yuen Long clashes cast pall over Sun Hung Kai’s weekend home sales even as Great Eagle’s project drew buyers with cheaper prices

A weekend apartment sale by Sun Hung Kai Properties flopped in Kam Tin near the scene of violent clashes between the police and protesters, as nearly two months of incessant public unrest left their impact on Hong Kong’s real estate.Sun Hung Kai sold only seven of 145 units of its Park Yoho Napoli project in Kam Tin, a mere 3 kilometres from Yuen Long, where tens of thousands of protesters marched today in protest against a July 21 mob attack on commuters. Police fired tear gas to disperse… Source link

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Green buildings benefit both investors and home buyers – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Experts and real estate developers discuss the development of affordable green housing in Việt Nam. — VNS Photo Vũ Hoa HÀ NỘI — Green buildings provide more benefits for investors in the long term than normal buildings and reduce the economic burden for low- and middle-income families, according to general secretary of Việt Nam Real Estate Association (VNREA) Nguyễn Viết Chiến. Chiến spoke at a workshop in Hà Nội on Friday about the costs and benefits of greening the affordable housing sector. He said investing in affordable housing projects would bring positive results for developers.…

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Hong Kong’s inventory of unsold residential property rises to a decade-high of 10,000 homes as trade war, protests deterred buyers

Hong Kong’s inventory of unsold residential property rose to the highest in more than a decade, as uncertainties brought by the US-China trade war and the city’s ongoing political unrest deterred buyers from big-ticket purchases.The figure stood at 10,000 unsold homes at the end of the second quarter, 1,000 units more than the end of March, according to data by the Transport and Housing Bureau.The expanding stock – fewer than Hong Kong’s first-half home sales – underscores the proposal by Chief… Source link

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Hong Kong’s property buyers are rushing for the sidelines to wait out city’s festering political crisis and almost-daily protest rallies

Hong Kong’s residents are rushing for the sidelines in the city’s property market, as a political crisis festers while street rallies that have persisted for more than a month have deteriorated into violence.Sales of lived-in homes will fall 35.5 per cent to a five-month low of 2,600 transactions in July, with the value expected to drop 33.7 per cent to HK$24 billion (US$3.07 billion), according to a forecast by Centaline Property Agency. Even the flipping of car-parking space – a unique short… Source link

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Vietnam 

After-sale care must be shown to home buyers: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The front view of the Artemis building complex in Hà Nội. Residents of the building last year protested the building’s developers for mismanagement of the project. — VNA/VNS Photo Nguyễn Thắng HCM CITY — Investors in apartment building projects need to maintain the service quality promised to buyers, experts have said. If the pledges are not met, prolonged disputes often arise, General Director of Đại Phúc Land Company told Đầu tư (Investment) newspaper. For two years, the developer is responsible for building maintenance, but after that…

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Prices of micro flats at T-Plus in Tuen Mun slashed by 38 per cent as developer looks to lure back buyers

The developer of a micro flat project in Hong Kong has cut the price of flats that are smaller than a car parking space by 38 per cent, after managing to sell only two units during the initial launch in December.Prices were unveiled on Thursday for 36 flats at the T-Plus project in Tuen Mun, jointly developed by ­Jiayuan International Group and Stan Group,starting at HK$1.73 million (US$222,200), which makes it the cheapest property in the city since CK Asset Holdings sold 165 sq ft units at… Source link

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