China’s housing market continued its skid last month (Getty Images)
China’s housing market continues to slide despite stepped-up efforts to boost sentiment, with that story leading today’s headline roundup. Also making the list, WeWork India files for an initial public offering and Brookfield India REIT reports a rise in leasing.
China Home Sales, Prices Slid Further in January
China’s sales of new housing and prices for existing residential units continued to decline in January, a real estate research institute said Saturday.
The average price per square metre for existing residential properties was down just over 7 percent in January from a year earlier based on a survey of markets in China’s top 100 cities, China Index Academy said in a monthly report. Read more>>
WeWork India Files for IPO
Flexible managed office firm WeWork India has submitted its draft red herring prospectus to the Securities and Exchange Board in order to raise funds through an initial public offering.
The IPO will involve both WeWork Inc and Embassy Buildcon, majority owner of WeWork India, selling 25 percent of their stakes in the company. Read more>>
Brookfield India REIT Leasing Rose 13% in Q4
Brookfield India REIT leased more than 1.1 million square feet (102,193 square metres) of office space during the fourth quarter of 2024, taking its total gross leasing to over 2.3 million square feet, including 1.8 million square feet of new leasing.
The REIT’s operating lease rentals rose 13 percent from a year earlier to INR 4.4 billion ($50 million), with a 9.4 percent average escalation on the trust’s 5.1 million square feet of leased area. Net operating income for the quarter rose 11 percent to INR 5 billion. Read more>>
India Income Tax Breaks Boost Real Estate Stocks
Shares of Indian real estate companies rose Saturday after the government announced measures to boost the spending power of the middle class in Asia’s third-biggest economy, likely spurring investments in the residential housing space.
India’s plan to cut income tax rates in the 2025-26 budget was widely welcomed by investors and experts, as it boosts disposable income in a country grappling with sluggish consumption in recent quarters. Read more>>
Hong Kong’s First Project Launch of Snake Year Meets Weak Response
Hong Kong’s first launch of new homes in the Year of the Snake got off to a slow start with about a fifth of the 133 units on offer at The Reserve at Gold Coast Bay in Tuen Mun finding buyers on Saturday, according to agents.
As of 8.30pm, 27 units were sold. “The sales results are satisfactory and in line with expectations,” said Sammy Po, CEO of Midland Realty’s residential division. Read more>>
South Korean Mortgage Issuance Falls as Home Sales Decline
Household loans extended by major South Korean banks decreased for the first time in 10 months in January on sluggish real estate purchases, data showed Sunday.
Outstanding household credit extended by five major lenders — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — stood at KRW 732.37 trillion ($502.2 billion) as of 24 January, down KRW 1.77 trillion from a month earlier, according to the data from the banks. Read more>>
Govt of India’s Andhra Pradesh State Plans Data Centre City
The Andhra Pradesh government will develop a 500 acre (202 hectare) Data City in Visakhapatnam, providing infrastructure for companies to locate data centres and artificial intelligence hubs for companies that require their services.
Recognising the global opportunities in deep technology, AI and big data, the state government is focusing on Data City to attract investments and technological advancements. Read more>>
40% of Hanoi Resale Apartments Priced at $200K or More
Nearly 40 percent of resale apartments in Hanoi are priced at VND 5 billion ($200,000) or more, according to a recent report by the Institute of Construction Economics. Some 38.5 percent are priced between VND 3 billion and VND 5 billion.
Rapid price hikes have pushed apartments far beyond the affordability of most households, particularly low-income groups, the report said. Read more>>
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