News updated on 26 September 2021
News updated on 25 September 2021
News updated on 24 September 2021
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Spanish rental market expected to heat up for owners this year
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www.propertyinvestortoday.co.uk
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Rents rising significantly in smaller German cities and towns
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www.iamexpat.de
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Hong Kong property giants deny Beijing is ramping up pressure on industry to fix city’s housing woes, following reports of officials losing patience
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www.scmp.com
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Tycoons make billions from Russian property in Covid-19 boom
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www.straitstimes.com
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China's housing sector risks falling into bear market, Citi says Data this month showed home sales by value dropped 20 per cent in August. Data this month showed home sales by value dropped 20 per cent in August.PHOTO: EPA-EFE PUBLISHEDSEP 24, 2021, 12:26 PM SGT FACEBOOKWHATSAPPTWITTER HONG KONG (BLOOMBERG) - China's home prices are at risk of "meaningful downside" regardless of what happens to China Evergrande Group, according to Citigroup analysts, in what would be a further drag on the country's economic growth. "It seems clear that even in an orderly restructuring, the property sector in China is likely to face downside pressures," wrote analysts including Mr Dirk Willer in a note dated Thursday (Sept 23). "While the authorities try to limit lower real estate prices due to fire sales by Evergrande by implementing price floors, price controls typically do not work." The note was titled A Bear Market In Chinese Property. ADVERTISING Evergrande, the world's most indebted developer, has yet to say whether it paid interest due on Thursday to holders of its United States dollar bonds. The company will then have a 30-day grace period to make the payment before a technical default may be declared. Financial regulators in Beijing have encouraged Evergrande to take all measures possible to avoid a near-term default on dollar bonds, though investors are pricing in a debt restructuring. Slowing China's housing market is one of the many campaigns being waged by President Xi Jinping as he seeks to reduce the cost of raising a family and cut leverage in the financial system. Yet it is also one of the toughest goals to achieve given the vital importance of the sector to the economy - the industry accounts for almost 30 per cent of gross domestic output and 40 per cent of household assets. Data this month showed home sales by value dropped 20 per cent in August, while prices in the secondary market dropped for the first time since February last year. Concern is growing that the impact of such policies spiral out of control. China needs to ease pressure on indebted developers before the pain inflicted on Evergrande spreads too far and undermines the economy, Bank of America economists said earlier this month. Nomura Holdings sees property curbs accounting for more than half of China's growth slowdown in the second half of the year. While Beijing has multiple options to support property if needed - and some analysts say it is too early to reverse course - Citigroup says previous policies like loosening restrictions on second-time home buyers may not be effective. That is because of weaker demand and a more saturated market - in other words, plenty of people already have multiple homes and will not want another. The fallout would be most pronounced in global commodity markets, as well as emerging-world credit and currencies, according to Citigroup's simulation based on China's last severe property downturn in 2014. "We fear that the China slowdown will eventually have an impact on commodities, which are a key economic driver for many EM (emerging market) economies," wrote the Citigroup analysts. MORE ON THIS TOPIC Evergrande bondholders in limbo over debt resolution; its shares and bonds slide How China Evergrande's debt troubles pose a systemic risk Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month* for the first 3 months Subscribe Now * Terms and conditions apply Join ST's Telegram channel here and get the latest breaking news delivered to you. CHINAPROPERTY MARKET/SECTOR FacebookWhatsAppTwitter RECOMMENDED Nine women arrested at three unlicensed massage outlets in police raids Nine women arrested at three unlicensed massage outlets in police raids Sep 24, 2021 'Asked myself ‘why’ hundreds of times': Shane Pow reflects on jail time for drink driving, joins Li Nanxing's agency 'Asked myself ‘why’ hundreds of times': Shane Pow reflects on jail time for drink driving, joins Li Nanxing's agency Sep 24, 2021 Free Class: How To Use Social Media To Create Income OnlineAd Free Class: How To Use Social Media To Create Income Online Creators Of Online Courses Register Now He was a banker. Then he decided to become a snack seller.Ad He was a banker. Then he decided to become a snack seller. 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Sign Up StarHub [Gallery] Walmart Cameras Captured These Hilarious PhotosAd [Gallery] Walmart Cameras Captured These Hilarious Photos HeraldWeekly An eye-opening moment: Kai Kai and Jia Jia's panda cub opens eyes for the first time An eye-opening moment: Kai Kai and Jia Jia's panda cub opens eyes for the first time Sep 24, 2021 50-year-old is youngest Singaporean Covid-19 fatality; 1,457 new cases 50-year-old is youngest Singaporean Covid-19 fatality; 1,457 new cases Sep 22, 2021 Credit Card Options for Seniors Might Surprise YouAd Credit Card Options for Seniors Might Surprise You Credit Cards | Search Ads Ad Top 100 Most Visited Websites in the US Learn more Semrush Former actor Xie Shaoguang makes rare appearance in Pan Lingling's photo Former actor Xie Shaoguang makes rare appearance in Pan Lingling's photo Sep 21, 2021 Chinese city Harbin orders spas, mahjong salons to shut after Covid-19 case confirmed Chinese city Harbin orders spas, mahjong salons to shut after Covid-19 case confirmed Sep 21, 2021 12 men charged in $9.7m cheating case 12 men charged in $9.7m cheating case Sep 14, 2021 Healthy food will be king. These 6 food trends will shape Asia’s future. Get the report.Ad Healthy food will be king. These 6 food trends will shape Asia’s future. Get the report. https://www.theasiafoodchallenge.com/ THE STRAITS TIMES Available for iPhones and iPads Available in Google Play BACK TO THE TOP E-paper Facebook Instagram Twitter Podcasts RSS Feed Telegram Youtube SINGAPORE ASIA WORLD OPINION LIFE BUSINESS TECH SPORT VIDEOS PODCASTS MULTIMEDIA Terms & Conditions Data Protection Policy Need help? Reach us here. Advertise with us Sign up for our daily newsletter Enter your e-mail Sign up More newsletters By registering, you agree to our T&C and Privacy Policy. SPH Digital News / Copyright © 2021 Singapore Press Holdings Ltd. Co. Regn. No. 198402868E. All rights reserved
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www.straitstimes.com
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Property developers say they never heard of tycoon meetings over HK housing issues
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www.thestandard.com.hk
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India hottest market in the world this year, not China: Jim Rogers Read more at: https://economictimes.indiatimes.com/markets/expert-view/india-hottest-market-in-the-world-this-year-not-china-jim-rogers/articleshow/86476532.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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economictimes.indiatimes.com
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Market nowhere close to topping out; don’t see bear market anytime soon: Shankar
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economictimes.indiatimes.com
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Chinese banks try to calm fears about developer's debts
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www.taiwannews.com.tw
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Who is eyeing up the Portuguese luxury property market?
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www.theportugalnews.com
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Office Vacancies in Canada Reach Highest Level Since 1994
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www.bloomberg.com
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Canadian Mortgage Lenders Are Considering Reversing Rate Cuts Made Days Ago
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betterdwelling.com
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U.S. new home sales beat expectations; supply near 13-year high
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en.yibada.com
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Potential Hua Hin, Cha-am recovery seen
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www.bangkokpost.com
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