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Bears gather as data shows Hong Kong home prices retreat for second week after peak in May

Hong Kong home prices were down for a second consecutive week through Sunday, after hitting a record at the end of May, evidence that may suggest a broader correction is underway, according to experts.The Centa-City Leading Index, a home price gauge compiled by Centaline Property Agency, showed prices for lived-in homes dropped 1.43 per cent to 186.26, for the week ended June 9.“The uptrend of home prices has been hindered,” said Wong Leung-sing, senior associate director of research at… Source link

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China 

China’s population to peak in 2023, five years earlier than official estimates, new research shows

China’s population will peak in 2023, five years earlier than official forecasts, according to a new report.Tony Nash, CEO and founder of Complete Intelligence, one of the co-authors of the report, said the findings should be a cause for concern for Beijing’s policymakers, who waited too long to lift the controversial one-child policy for its rapidly greying society.China abandoned the policy in 2015 to allow couples to have two children. But the birth rate last year fell to its lowest since… Source link

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Singapore 

Durian season set to start in May, with peak hitting in June, Singapore News

Durian lovers, rejoice. The durian season is expected to begin as early as next month. Durians from Malaysia are already trickling into Singapore, though the best ones are yet to arrive. Durian sellers The New Paper spoke to predict the season will be in full swing only sometime in June. Mr Ooi Meng Lee, 57, owner of 211 House of Durian, said: “The peak of the durian season this year will be in June. That is when the quality of the durians will be the best.” Echoing this assessment, the…

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Vietnam 

Tourism stocks likely to heat up during peak season – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  People flock to Đầm Sen Water Park in HCM City during the summer. — Photo dantri.com.vn HÀ NỘI – Summer is the peak season for tourist companies and high sales and dividend rates are expected to drive tourism shares up in the coming months. For many Vietnamese families, the hot weather between May and August is the most attractive time to travel and relax. Right after the end of the Lunar New Year holiday, travel companies started offering enticing promotions for summer tours. This is…

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Singapore 

Woman’s leg trapped in between MRT train and platform at Buona Vista station during peak hour, Singapore News

SINGAPORE – A woman who was travelling on the Circle Line had her leg trapped in the gap in between the platform at Buona Vista Station and an MRT train during the Monday morning (April 8) peak period. In a Facebook post on Monday morning, user Brandon Wong said that the train was “full to the brim and passengers were rushing to get out of the train”. A woman fell after she was pushed and her right leg was caught in the gap from the knee down. The Facebook user…

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Singapore 

SingPost apologises for service failures during year-end peak season, even as postmen pull extra hours, Singapore News

SINGAPORE – SingPost on Monday (Jan 14) apologised to customers for its recent service failures, which it said were due to a “tremendously busy” peak season in November and December that was “beyond forecasts and expectations”. Due to an increase in the volume of packages, SingPost’s postmen had to make an extra 20 doorstep deliveries on average daily, as well as work beyond their usual hours, SingPost said in a Facebook post. “We hired extra resources, recalled personnel and activated teams from the corporate office on Saturdays just to meet…

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Home 

Buyer of house on The Peak in Hong Kong walks away from deal – loses US$4.6 million deposit

A buyer has walked away from the purchase of a luxury house on The Peak, losing a deposit of some HK$36.09 million (US$4.6 million) in the latest sign of trouble in Hong Kong’s property market. The unidentified buyer did not proceed with the transaction for House 16 on Mount Nicholson, according to official documents, after agreeing to buy it for HK$721.88 million on December 31. “It is definitely not good news for the market,” said JLL executive director Joseph Tsang. “There are stories about buyers walking away from their purchases…

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Property 

Shenzhen tycoon quells talk of financial problems, says he’ll pay for early possession of house on The Peak

The Shenzhen property tycoon who agreed to pay HK$2.1 billion (US$268.5 million) for Hong Kong‘s most expensive mansion on The Peak says he will take possession of the property a year early, quelling talk that the deal was in trouble. The deal is now expected to be completed by the first quarter of 2019, or 12 months ahead of the original schedule, without interior fittings and other finishing works completed. Chuang’s Consortium International the builder of the house at 15 Gough Hill Road, said on Monday. the deal will come…

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Property 

Why did Hong Kong scrap The Peak land tender if it’s not in service of a high-price policy?

The withdrawal of a luxury residential site at The Peak from the city’s tender last week has sparked concern about the government’s pricing strategy at a time of shifting market sentiment. Analysts said that additional land sites could be withdrawn from tender for failing to meet the government’s reserve price, if officials persist with a high land price policy. “The government may not have been sensitive enough to the changes in the market, that’s why it set a reserve price more aggressive than what developers expected,” said Joseph Tsang, managing…

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Vietnam 

Real estate stocks might peak in first half of 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NÔI — Real estate stocks might peak in the first half of 2019 or even earlier, in the last quarter of this year, experts have forecast. The recovery of the property market helped boost real estate stocks during the past five years. According to financial services company Stockplus’ Fiinpro Platform, real estate stocks posted better growth than the overall market. Statistics showed that real estate stocks increased by 143.3 per cent in the 2014-18 period while the VN-Index rose by 96.5 per cent.…

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