BEIJING (Reuters) -China’s new home prices fell at the slowest pace in 17 months, official data showed on Monday, as the government scaled up stimulus measures to lift the crisis-hit property sector. New home prices were down 0.1% month-on-month after a 0.5% dip in October, the slowest pace since June last year, according to Reuters…
China’s residential market sales fell again in November, suggesting the property sector still has some ways to go before it can show a sustained recovery. The value of new home sales from the 100 biggest real estate companies dropped 6.9% from a year earlier to 363 billion yuan ($50 billion), reversing a 7.1% gain in…
Secondary home prices increased 0.62 per cent to a reading of 290.1 in October from 288.3 in September, according to data from the Rating and Valuation Department. The latest reading on home prices covers the first full month following the interest-rate cut by the Hong Kong Monetary Authority in September, but only partially reflects the…
Property prices in Asia’s major markets are expected to rise over the next year with Hong Kong leading the projected gains, according to Bloomberg Intelligence. Beyond Hong Kong, homes in Singapore, Australia and Japan will all become more expensive in 2025, a reportBloomberg Terminal from BI found. For Hong Kong, the numbers reverse a years-long…
China needs to deploy more economic stimulus if copper demand is to revive, according to a major importer of the metal. The government has issued a slew of measures since late September to shore up confidence in the world’s biggest buyer of metals, where a prolonged slowdown in the property market is dragging on growth….
Global commodities markets are stuck in a holding pattern after China’s latest effort to revive its economy focused on the much-needed restructuring of local government debt, but stopped short of stimulus measures that would directly boost domestic demand. Delivered by the finance ministry on Friday afternoon, Beijing’s move amounted to a hefty $1.4 trillion bailout…
Hong Kong banks’ unexpected prime rate cut on Friday will lower funding costs and bring more buyers into the market, with analysts expecting home prices in the city to bottom out “in the short term”. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, lowered its base interest rate for the second…
The yawning gap between Hong Kong’s homebuying and rental markets is likely to narrow as residential prices begin to recover. Analysts including those at DBS Bank Ltd. expect interest-rate cuts to help revive home purchases. Bloomberg Intelligence sees Bloomberg Terminalprices rebounding from an eight-year low after the government eased mortgage borrowing rules. Source link
Home foreclosures in Hong Kong have risen for two quarters in a row and are expected to increase again in the coming period, Centaline Property said, as property transactions experience an uptick. For the third quarter, 189 foreclosures of private residential properties – those seized by banks due to missed mortgage payments – were recorded,…
Hong Kong’s home sales uptick is expected to struggle with momentum due to the city’s weak economic outlook and elevated interest rates. The number of new home transactions in the seven days after Chief Executive John Lee’s policy address rose 20% compared with the same period earlier, according to data from broker Midland Realty. This…