Home 

Link Reit looks to the mainland as Hong Kong rent growth cools

The Link Real Estate Investment Trust (Link Reit), Asia’s largest real estate investment trust, announced on Monday modest growth in property income for 2018 and said it plans to acquire more commercial properties in China’s top tier cities, adding to its holdings in Beijing, Shanghai, Shenzhen and Guangzhou.“There is no lack of projects [in first-tier cities] under discussion. But the firm remains very prudent and selective, looking only at properties that can add value to our asset portfolio… Source link

Read More
Home 

Trump’s Huawei ban cools property deals in Shenzhen’s Bantian area popular with telecom firm’s employees

Chen Xiao is under severe pressure. The property agent in Shenzhen, home to telecoms giant Huawei Technologies and other Chinese tech stars like ZTE and Tencent Holdings, has not closed a single deal this month.“May used to be my best month, as sometimes I would close up to six deals because Huawei pays bonuses around this time,” said the 30-year-old broker with Centaline Property Agency, who focuses exclusively on Bantian in Longgang district where Huawei is based.But with the escalating US… Source link

Read More
Property 

Hong Kong’s housing market sentiment cools as US-China trade war escalates

Hong Kong’s property market sentiment is souring. Homeowners are slashing asking prices while buyers are forfeiting deposits on new flats amid the escalating US-China trade war.In New Territories, which has an ample supply of new flats, about 10 per cent of the homeowners have started lowering prices by an average of 5 per cent in the past two weeks to woo buyers, according to agents.“The US-China trade war has become white-hot,” said Sammy Po, chief executive of residential division at Midland… Source link

Read More
Home 

As China’s housing boom cools, insurer Ping An and developer Cifi shift focus to rental market

The real estate investment platform of Ping An Insurance has joined Shanghai-based developer Cifi Holdings to launch a 10 billion yuan (US$1.5 billion) rental home investment and management business, targeting affordable living for those who have yet to get on the housing ladder.The two companies announced on Thursday they would co-invest in a batch of rental home projects in first- and second-tier mainland cities over the next three years.The investment and management platform will also engage… Source link

Read More
Property 

Demand for office space in Hong Kong cools by the most in five months, but rents edge higher

New office lease activity in Hong Kong dropped by nearly a third in March – the most in five months – amid softening demand from mainland Chinese companies, JLL’s latest report showed.The 30 per cent drop in office lettings pushed up the overall available space to 95,700 square feet or 4.8 per cent, up from 4.7 per cent recorded in February.“If we are talking about month on month basis, it is the biggest drop since November 2018 when it dropped 55 per cent,” said Denis Ma, head of research at……

Read More
Home 

Chinese tech faces an innovation reality check as the economy cools and start-ups stumble

The slowing Chinese economy may be claiming some unexpected victims: without its robust engine, many tech start-ups relying on China’s fast growth for success are being cast out.Despite healthy capitalisation, investors are finding that some companies’ underlying technologies may not be as innovative as hoped. And even after a banner year for venture capital funding in 2018, some investors predict that as many as 90 per cent of Chinese tech start-ups are doomed to fail.“The market is going… Source link

Read More
China 

China’s big spenders are reining in on buying cars, jewellery and watches as confidence in personal finance cools, Credit Suisse says

Chinese consumers are less confident about their personal finances, income growth and are cautious of making big purchases than they were a year ago as the country’s economic slowdown is beginning to weigh on sentiment, a Credit Suisse study has found.The number of respondents expecting an improvement in the state of their personal finances in the next six months has “decreased significantly by 5 percentage points to 30 per cent in 2018, after a strong recovery in 2017,” according to the Credit… Source link

Read More
China 

US-China trade war: Trump says he’ll welcome deal ‘either way’ as Beijing cools on idea of summit

US President Donald Trump said on Wednesday that he was in no rush to complete a trade deal with China and insisted that any accord with Beijing must include protection for intellectual property, a major sticking point between the two sides during months of negotiations.Trump and Chinese President Xi Jinping were expected to hold a summit at the US president’s Mar-a-Lago property in Florida later this month, but no date has been set for a meeting and no in-person talks between their trade teams… Source link

Read More
Home 

These two Hong Kong developers are set to release thousands of new homes this year as the property market cools

Sino Land set a precedent by releasing homes at its Grand Central project in Kwun Tong at 14 per cent discount to prevailing market rates in December. Potential homebuyers were drawn to sales office of the Kwun Tong residential project on December 23, 2018. Photo: Jonathan Wong Source link

Read More
Property 

First mix-use land plot at former Kai Tak airport runway gets the collective shrug from developers as property market cools

Hong Kong’s government received a lukewarm response in its sale of the first commercial land plot on the former Kai Tak Airport’s runway, as developers refrained from building offices and hotels in an area that lacks amenities, while the overall property market was cooling. Six bids were received when the call for tender closed on Friday, from Sun Hung Kai Properties, CK Asset Holdings, Great Eagle Holdings, K&K Property, Sino Land and the Far East Consortium, according to agents and valuers familiar with the submissions. The oceanfront plot, located near…

Read More