Hong Kong News

China’s Home Sales Rebound as Beijing’s Support Boosts Market Confidence

China’s property market is showing signs of recovery as new data reveals a surge in home sales across the mainland. Following the introduction of supportive measures by Beijing in late September, confidence among homebuyers appears to be reviving, leading to increased transactions in both new and secondary home markets. Surge in Transactions Across Major Cities According to the Lingping Real Estate Data Research Institute, new home transactions across 15 key cities jumped by 24% last week, with sales reaching 24,287 units. Similarly, secondary home sales surged by 20%, totaling 20,724 units across 10 major cities. These figures highlight a significant

October 23, 2024 No Comments

Hong Kong News

China’s Real Estate Market: Signs of Stabilization and Growth

In recent months, China’s real estate market has shown promising signs of recovery after facing significant challenges earlier this year. Back in April, the sector struggled with low transaction volumes and record-high unsold inventory, with 746 million square meters of ordinary commodity housing remaining unsold—surpassing a decade-old peak. Additionally, second-hand home prices in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen reverted to 2016 levels, reflecting a drop in buyer confidence. Policy Interventions Drive Recovery In response, the Chinese government introduced a series of strategic measures to stabilize the real estate market. Starting on May 17, the People’s Bank of

October 21, 2024 No Comments

Hong Kong News

Shanghai’s Pre-Owned Home Sales Surge Amid Government Support

Shanghai’s pre-owned home sales have surged, surpassing 1,000 units in a single day for the first time in four months. On October 15, 1,334 second-hand properties were sold, marking a significant rebound in the market. This recovery is largely attributed to the supportive real estate policies introduced by the Chinese central government in late September. The revival follows key measures announced by Pan Gongsheng, governor of China’s central bank, on September 24. These policies include a 50-basis-point reduction in mortgage rates, bringing them closer to new loan levels, and lowering the minimum down payment for second homes from 25% to

October 16, 2024 No Comments

Hong Kong News

Can China’s Property Market Rebound During Golden Week?

China’s property market, long troubled by a significant economic slowdown, is attempting to rebound during the National Day Golden Week holiday. As part of a renewed effort to revitalize the struggling sector, local governments, developers, and cities are rolling out extensive promotional campaigns to attract homebuyers. The timing is critical, as Beijing has recently introduced a series of stimulus policies aimed at breathing new life into the real estate sector. Beijing’s New Stimulus Policies In late September, just before Golden Week, the People’s Bank of China (PBOC) introduced several key measures to spur property sales. The mortgage rate was cut

October 7, 2024 No Comments

Hong Kong News

China’s Stimulus Revives Investor Interest in Troubled Property Bonds

China’s recent stimulus measures have sparked renewed interest from both Chinese and global investors in the country’s beleaguered property sector, particularly in offshore bonds. These efforts, aimed at stabilizing the economy and reviving the real estate market, have led to significant rallies in bonds that were previously distressed. The aggressive stimulus package, announced on October 1, 2024, represents the most comprehensive effort by the Chinese government to support the property sector since the COVID-19 pandemic. This development has attracted substantial investment, including from Beijing G Capital Private Fund Management, which placed its first orders for property bonds in several months.

October 6, 2024 No Comments

Hong Kong News

China’s Top Cities Ease Real Estate Curbs to Boost Housing Market

China’s property market is experiencing a major shift, as three of the country’s largest cities—Shanghai, Guangzhou, and Shenzhen—have eased homeownership restrictions to stimulate the market. The easing of these curbs is part of a broader strategy by both central and local governments to support the housing sector, which has been suffering from a prolonged slowdown. Guangzhou Leads the Way in Policy Deregulation Guangzhou, the capital of Guangdong province, has taken a leading role in relaxing restrictions on home purchases. As of October 1, 2024, all homebuying curbs for both locals and non-locals have been removed. This deregulation is a major

October 1, 2024 No Comments

Hong Kong News

How Shanghai and Shenzhen’s Eased Property Restrictions are Revitalizing China’s Real Estate Market in 2024

China’s real estate market, a critical pillar of its economy, has faced unprecedented pressure in recent years. A combination of strict purchase restrictions, cooling market sentiment, and high home prices had led to a slowdown, particularly in major cities like Shanghai and Shenzhen. To combat this, China has introduced a series of measures aimed at stimulating demand and ensuring the sector’s recovery. Most notably, in 2024, both Shanghai and Shenzhen have lifted significant home purchase restrictions in an effort to reinvigorate their real estate markets and stabilize economic growth. Easing of Restrictions in Shanghai Shanghai, one of China’s most economically

September 28, 2024 No Comments

Hong Kong News

Beijing’s Residential Construction Soars 22.6% in Jan-Aug 2024

Beijing’s residential construction sector saw a significant surge in activity from January to August 2024, despite fluctuations in the overall real estate market. According to the Beijing Municipal Bureau of Statistics, the newly started construction area for residential buildings reached 5.299 million square meters, marking an impressive 22.6% year-on-year increase. This boost in residential construction underscores the city’s efforts to address its growing housing demand amid broader market challenges. During the same period, real estate developers in Beijing commenced a total of 8.571 million square meters of new housing projects, reflecting a 12% year-on-year growth. The majority of this expansion

September 20, 2024 No Comments

Finance

Asian cities dominate GFCI 29

New York, London, and Shanghai maintain the top 3 spots followed by Hong Kong, Singapore, Beijing, Tokyo, and Shenzhen The world’s financial systems are starting to stabilise with vaccines being rolled out on a daily basis and things are going back to normal. The pandemic had a significant impact on financial markets and this is reflected in the latest Global Financial Centres Index (GFCI) where Asian cities dominated the rankings. Of the top 10 financial centres, only Frankfurt’s rating improved by 12 points, while the other hubs dipped in ratings. Overall, the index scores are lower compared to 2019, but the average

February 12, 2024 No Comments

Hong Kong News

JLL: APAC commercial property transaction volumes to improve by 15-20% in 2021

The pandemic accelerated industry trends and revealed an exciting ‘opportunity in obsolescence’ in Asia’s commercial property sector As we enter the second year since the coronavirus pandemic wreaked havoc in the world, we are now starting to see some positive light. Outlook for commercial property in Asia is improving as industries stabilise and growth areas prop up demand for office spaces. Traditional sectors like finance and service were hit hard by the coronavirus pandemic, but this may not be fully attributed to the virus. Talking to Bloomberg Markets Asia, JLL APAC CEO Anthony Couse said that the pandemic only accelerated

February 11, 2024 No Comments