Real Estate

Hong Kong Failed Land Sale Heightens Concern Home Prices May Fall Further

Fri, 13 Jan 2012 23:51:00 +0000

The Hong Kong government yesterday withdrew the tender for a property project at a subway station and sold another site for less than estimated, underscoring concerns that home prices in the city may fall further.

Chinachem wins $335 mln site bid

Fri, 13 Jan 2012 22:51:00 +0000

Hong Kong property developer Chinachem Group said it won the tender to develop a site next to its Tsuen Wan headquarters for HK$2.6 billion ($334.7 million).

Hong Kong Luxury Rents Reach 'Tipping Point'

Tue, 20 Dec 2011 00:41:00 +0000

Hong Kong luxury home rents, which fell last quarter for the first time since mid-2009, may slump 10 percent next year as banks and hedge funds scale back amid the threat of a global recession, according to brokers including Jones Lang LaSalle Inc. (JLL) and Colliers International.

Russian billionaire buys most expensive apartment in NYC

Mon, 19 Dec 2011 23:56:00 +0000

Dmitry Rybolovlev has been a busy man lately. He is in the middle of a bitter divorce that could cost him more than $6 billion (when finalized it will be the world’s costliest divorce), but he has still found the time and funds to buy a struggling AS Monaco soccer team and, it turns out, the most expensive home in the history of Manhattan real estate. Well-connected sources have confirmed to The Observer that the mystery Russian chemist behind the sale of Sandy Weill’s $88 million penthouse at 15 Central Park West is indeed Mr. Rybolovlev.

Hong Kong's Lifestyle buys Shanghai site for $388 mln

Thu, 15 Dec 2011 23:32:00 +0000

Department store operator Lifestyle International Holdings Ltd said it had won the bidding for rights at a Shanghai site for 2.47 billion yuan ($387.72 million), allowing it to build a commercial complex including a department store.

Hong Kong Home Prices May Drop by 10% Before Recovering, StanChart Says

Thu, 15 Dec 2011 01:05:00 +0000

Hong Kong home prices, which rose the most globally in the past year, may need to fall as much as 10 percent in 2012 before buyers are lured back, according to Standard Chartered Plc.

Realtors: We Overcounted Home Sales for Five Years

Thu, 15 Dec 2011 00:23:00 +0000

Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.

Office rents set to slide in Singapore, Hong Kong

Fri, 09 Dec 2011 01:26:00 +0000

Office rents in Hong Kong and Singapore are set to fall, brokers say, as the cities' markets start to reflect the slowdown in trade and investment caused by the euro zone debt crisis.

Hong Kong to Ease Property Curbs If Prices Slump, Tsang Says

Fri, 09 Dec 2011 01:18:00 +0000

Hong Kong will reverse some of its property-cooling measures if home prices extend their decline amid Europe's worsening credit crisis and a global economic slowdown, the city's financial secretary said.

Hong Kong’s Office Demand to Slow, Jones Lang LaSalle Says

Thu, 08 Dec 2011 00:19:00 +0000

Hong Kong’s prime office demand is expected to slow after rents climbed 16 percent in the first 11 months of this year, according the world’s second-biggest publicly traded commercial-property broker.

Hong Kong proposes law on new home sales

Thu, 01 Dec 2011 02:18:00 +0000

Developers in Hong Kong may face tougher rules on new home sales. The government is proposing new legislation to regulate the sale of all new properties in the city.

Hong Kong proposes law on new-home sales

Wed, 30 Nov 2011 02:49:00 +0000

Hong Kong has proposed a new law that will slap fines and jail terms on developers that mislead buyers of new homes.

Hong Kong's hot market in 'haunted' houses

Sat, 26 Nov 2011 23:34:00 +0000

For sale: Hong Kong apartment with sweeping sea views and three rooms, all signs of a recent grisly murder in the bathroom eliminated, will take offers between 15-20% below market value.

US Senators Draft Bill to Give Visas to Foreigners Buying Pricey Homes

Sat, 22 Oct 2011 00:22:00 +0000

The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S.

Top 10 Asian Cities For Real Estate Investment

Wed, 19 Oct 2011 01:19:00 +0000

Emerging markets are on a building tear, and nowhere is that more evident than Asia. Flush with capital from years of high savings rates and with a population seeing substantial increases in wealth, countries in the region have focused on providing the housing, infrastructure and commercial buildings needed for the millions of new urbanites that flock into cities from the countryside each year.

2.2 MILLION ACRES! John Malone Now Biggest Landowner in USA

Thu, 13 Oct 2011 20:17:00 +0000

Ted Turner has lost his crown. According to the newly released 2011 Land Report 100, which ranks the top land barons, John Malone is now America’s biggest individual landowner. The 70-year-old cable pioneer and chairman of Liberty Media now owns 2.2 million acres, after purchasing more than 1 million acres of timberland in Maine and New Hampshire earlier this year.

HK Chief Executive promises a thorough policy on housing

Mon, 10 Oct 2011 21:48:00 +0000

The Chief Executive, Donald Tsang, says he'll seek to tackle Hong Kong's housing problems in a thorough and comprehensive way in Wednesday's Policy Address.

Hong Kong to Face Serious Shortage of Office Space, Survey Says

Fri, 07 Oct 2011 22:13:00 +0000

Hong Kong’s new grade-A office space supply will fall short of demand unless the city suffers a sharp economic contraction, according to a Royal Institution of Chartered Surveyors study.

Census: US housing bust worst since Great Depression

Fri, 07 Oct 2011 20:22:00 +0000

The American dream of homeownership has felt its biggest drop since the Great Depression, according to new 2010 census figures released Thursday.

Hong Kong September Home Sales Fall for Ninth Month on Economic Slowdown

Wed, 05 Oct 2011 22:28:00 +0000

Hong Kong’s home sales fell for a ninth straight month in September as the threat of a global economic slowdown damped homebuyer sentiment.