Property 

These co-living concepts can help companies slash short-term staff housing costs by 50 per cent

Financial institutions, consultancy firms, universities and start-ups are looking to co-living as a flexible, short-term accommodation solution that could cut costs by as much as 50 per cent, industry players said.“Approximately 25 companies have shown interest in our co-living solution in the last six months,” said Wang Tse, co-founder of Campfire, which offers 80 rooms in Sham Shui Po. “They are looking for short-term or flexible accommodation for interns and project staff from 18 to 28 years… Source link

Read More
Vietnam 

Housing developers target hospitality segment – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Photo shows real estate projects surrounding Sealinks Villa Mũi Né in Phan Thiết City, Bình Thuận Province. — VNS Photo Thái Hà HCM CITY – Many giant housing real-estate developers in HCM City are flocking to the hospitality segment by developing or distributing new projects in tourism areas. Kiến Á Corporation, a real-estate developer with over 25 years of operation, is developing Le Meridien Cam Ranh Bay Resort and Spa. The company told Việt Nam News that its project would be completed…

Read More
Property 

Hong Kong’s pre-owned housing market rips higher, as analysts warn of pause ahead

The recent uptick in the secondary market where buyers kept snapping up homes costing less than HK$6 million (US$765,267) in major estates is expected to take a breather in coming weeks as prices near their previous peaks, analysts said.“The recent rise in home prices has been quite fast, accumulating solid increases. Also, a number of bargains in the market have been snapped up and homeowners have kept asking prices firm,” said Willy Liu, chief executive of Ricacorp Properties.Ricacorp said it… Source link

Read More
Home 

Loss aversion angst grips Chinese developers as Australian housing market fades

Chinese developers who arrived late to the fading Australian housing boom are faced with a curious choice: is it better to cut losses on investments that have turned sour or ride out the slump in the hope of an eventual recovery?One option is take the loss upfront by unloading land to other developers, a move seen as appealing to smaller developers who lack the financial firepower to wait it out in expectation of an eventual recovery.About a half-dozen Chinese developers have expressed a… Source link

Read More
Home 

Vacancy tax is a short-term solution to Hong Kong’s long-term housing shortage crisis

The Hong Kong government plans to introduce a vacancy tax on empty new flats to pry open supply bottlenecks by imposing fines on developers for hoarding new homes. Under the proposed legislation, a tax equivalent to twice the estimated annual rental value will be levied on flats that remain unsold after 12 months of receiving an occupation permit. According to the Rating and Valuation Department, the preliminary findings in the Hong Kong Property Review 2019 indicate that the vacancy rate of… Source link

Read More
Home 

UK property asking prices rise in sign housing market has bottomed out

Asking prices for British homes rose by the most in over a year in the four weeks to April 6, a survey showed, adding to other tentative signs that the housing market may have passed the worst of its slowdown ahead of Brexit.The 1.1 per cent monthly rise in asking prices was a bigger increase than usual at the start of the spring season and reduced the fall in prices in annual terms to 0.1 per cent, property website Rightmove said.Britain’s housing market has stumbled since the 2016 Brexit… Source…

Read More
Home 

Hong Kong developers promise to sell 20 per cent of flats in housing projects on open market as government condemns ‘unfair’ tender process

The industry body for Hong Kong’s property developers said its members would from now on ensure that 20 per cent of flats in a new project are sold on the open market, as the government warned it could take action against those that sell through tender.Lawmakers have slammed developers for the increasingly widespread and “unfair” practice of selling new flats through tender, a marketing tactic they claim puts the buyer at a disadvantage. And they were quick to criticise Thursday’s decision by… Source link

Read More
Home 

Hong Kong’s impending vacancy tax unlikely to derail new-found housing price momentum

The recent stock rally and US Federal Reserve’s dovish attitude on interest rates have muted the threat of the proposed vacancy tax in a bid to cool home prices by raising supply, say market watchers.The introduction of vacancy tax came a step closer after the Legislative Council’s housing panel started discussions on the proposal on Monday.According to the proposal, the Rating and Valuation Department will determine whether a developer needs to pay vacancy tax, which would be equivalent to… Source link

Read More
Property 

Hong Kong’s housing crisis can’t wait for long-term solutions

The government’s recent unveiling of the costs for its Lantau Tomorrow Vision proposal has divided the city: one half is concerned at allegedly exorbitant costs, although some estimates say the project will most likely turn in an eventual surplus; the other half seems to see it as a panacea to systemic housing issues. The official pitch is that the project is a long-term solution, designed to deal with Hong Kong’s expanding population and to relieve the city of its land shortages. All’s fair… Source link

Read More
Home 

Property giant China Vanke aims to raise US$1 billion in new shares sale as it prepares ‘to survive’ housing market slump

Property giant China Vanke aims to raise HK$7.8 billion (US$1 billion) through a placement of new shares as it prepares to deal with a slowdown in the housing market.Vanke, mainland China’s second-largest developer by sales, said it will place 263 million new shares on the Hong Kong stock exchange at a price of HK$29.68 apiece to raise HK$7.8 billion in capital.The announcement on Thursday came as the mainland’s developers face uncertainty amid a sharp drop in property sales.“They will not rake… Source link

Read More