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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

property News

New Costco with 800 Apartments Breaks Ground in Los Angeles

A groundbreaking mixed-use development featuring a Costco store and 800 residential units is set to transform the Baldwin Village neighborhood in South Los Angeles. Developer Thrive Living is spearheading the project, known as 5035 Coliseum, which will occupy a five-acre site. This innovative development will be the first of its kind in the country, combining a Costco with a large residential complex, offering a unique blend of retail and housing. The 800 residential units, built above the Costco store, will cater to a wide range of renters, with 184 of the units designated for low-income tenants. The remaining apartments will

September 19, 2024 No Comments

News

Step Up On Second Faces Lawsuit Over Failed California Motel-to-Housing Conversions

Step Up On Second, a once-prominent nonprofit in homeless services, is now embroiled in controversy due to the failure of multiple housing projects. The organization was instrumental in shaping California’s Project Homekey, an initiative aimed at converting old motels into affordable housing for the homeless. In partnership with real estate firm Shangri-La Industries, Step Up secured over $114 million in state grants to carry out seven motel-to-housing conversions across the state. However, the projects quickly ran into financial trouble. The properties went into foreclosure, leaving some vacant and incomplete. In response, the state of California has filed a lawsuit against

September 19, 2024 No Comments

property News

Property News Asia: Surge in Southeast Asian Real Estate Investments as Global Demand Shifts

As global economic landscapes evolve, Southeast Asia has emerged as a key player in the real estate market, attracting significant attention from investors, homebuyers, and industry professionals. The region’s dynamic growth, coupled with shifting global demand, is fueling a surge in real estate investments across countries like Thailand, Vietnam, Indonesia, and the Philippines. This blog post will explore the driving factors behind this trend, highlight key investment hotspots, and provide predictions for the future of Southeast Asia’s property market. The Rise of Southeast Asia in Global Real Estate Over the past decade, Southeast Asia has transitioned from a relatively under-the-radar

September 17, 2024 No Comments

property News

Evaluating the Financial Impact of the Interest Limitation Rule on Property Investors

The Interest Limitation Rule has recently garnered significant attention due to its potential financial ramifications for property investors. Let’s explore the various factors surrounding the rule and examine its overall impact on investors in the real estate market. Understanding the Interest Limitation Rule The Interest Limitation Rule, introduced to curb housing speculation and level the playing field for first-time homebuyers, restricts the interest expenses property investors can deduct from their taxable income. This regulation has led to both anticipation and apprehension within the investment community. Assessing the Financial Implications The rule’s financial impact on property investors can be evaluated differently.

June 23, 2023 No Comments

property News

Thailand: Lifull Acquiring FazWaz and Dot Property Partnership

In the ever-evolving landscape of Southeast Asian real estate, strategic collaborations and technological advancements are reshaping the industry. The latest move comes from Japanese portal provider Lifull Co, which recently made headlines by acquiring FazWaz Group and forging a partnership with Dot Property Co, both deeply rooted in Thailand’s vibrant economy. Founded in 2015 by Brennan Campbell, Michael Kenner, and Paul Trayman, FazWaz swiftly established itself as a prominent player in Thailand’s real estate market. Their innovative approach, blending a real estate platform with cutting-edge property technology solutions, captured the attention of industry insiders and clients alike. FazWaz’s offerings, such

February 28, 2023 No Comments