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Higher deposit for land sales will add pressure on small firms, tightening the big developers’ grip on Hong Kong’s land supply

The recent move by Hong Kong’s government to double the deposit for land tender sales, raised to deter defaults, will add to the financing pressure on small developers and put them at a disadvantage when they buy land in the world’s most expensive property market, analysts said.A HK$50 million (US$6.4 million) deposit now applies on all land parcels that are valued at over HK$400 million, while plots assessed at between HK$200 million and less than HK$300 million requires a non-refundable… Source link

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Vietnam 

Banks keen on housing sector despite SBV tightening – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Banks are offering big loans to individuals to buy houses at attractive interest rates. banks are offering big loans to individuals to buy houses at attractive interest rates. banks are offering big loans to individuals to buy houses at attractive interest rates. —Photo cafef.vn Compiled by Thiên Lý Nguyễn Quốc Hùng, director of the State Bank of Việt Nam’s credit department, recently told the media that banks have plentiful liquidity and are ready to lend to risky areas including the property sector. “Though we all know real estate is a…

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Vietnam 

Tightening credit for luxury home purchases might rock realty market: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Policies must promote real estate market development while limitin risks. — Photo vneconomy.vn HÀ NỘI — If credit policies for luxury home puchases were tightened, it could be a shock for the property market, experts have warned. The State Bank of Việt Nam plans to apply a credit risk ratio of 150 per cent for loans to purchase home worth from VNĐ3 billion (US$126,000) – three times higher than the current ratio, according to a draft circular about limits and safety ratio for banks’ operation recently made public. The central bank said…

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Global 

Singapore’s central bank ends tightening cycle as growth slows amid cooling economy

Singapore’s central bank on Friday kept its monetary settings unchanged after two consecutive rounds of tightening, underscoring policymakers’ concerns about a cooling economy and rising risks to the outlook from slackening global demand.The Monetary Authority of Singapore (MAS), which manages policy through exchange rate settings rather than interest rates, said it would maintain the slope of the Singapore dollar’s policy band while keeping the width and level at which the band is centred… Source link

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Vietnam 

Quảng Bình eyes tightening real estate loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Copyrights 2012 Viet Nam News, All rights reserved .Add:79 Ly Thuong Kiet Street, Ha Noi, Viet Nam. Editor_In_Chief: Trinh Thanh Thuy Tel: 84-24-39332316; Fax: 84-24-39332311 E-mail: vnnews@vnagency.com.vn Publication Permit: 381/GP-BTTTT. Source link

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Ecommerce 

Tightening regulations make fintechs easy takeover targets for banks stepping up digitalisation drive

Embattled financial technology businesses in China, which have come under tightened regulatory scrutiny, are becoming acquisition targets by mainland banks accelerating their digitalisation drive, according to global management consultancy McKinsey. Joe Ngai, managing partner for Greater China at McKinsey, said that tremendous changes are taking place in the mainland’s fintech sector amid the clean-up campaign by regulators to ward off financial risks. “The fintech businesses originally envisioned mounting a challenge on established banks, but the new trend is that more partnerships and acquisitions will be seen as the lenders bank…

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