Government officials cracking down on developers seen as causing panic among buyers
In today’s news, China continues its property market crackdown with the housing ministry looking for nine types of misconduct carried out by real estate developers. Meanwhile, Longfor Properties expects its financing costs to drop below five percent by the end of the year and Singapore-listed property developer Sing Holdings acquired a Travelodge in Melbourne for $107 million.
Chinese Cities Aim To Root Out Irregular Property Market Activities
China’s Guangzhou city will step up its monitoring of irregular activities in the property market while developers in Wuhan will be more closely scrutinized as the government intensifies efforts to cool real estate prices across the country.
China’s housing ministry announced last Friday that it would crack down on nine types of misconduct by real estate developers. A rapid rise in property prices in China’s major cities this year has raised fresh concerns about ballooning debt. Read more>>
Keppel DC Reit Expands Portfolio; Q3 Distributable Income Up
Perpetual (Asia), a trustee of Keppel DC Reit, has entered into a conditional share purchase agreement with Keppel Data Centres Holding, a joint venture between Keppel Telecommunications & Transportation and Keppel Land.
The proposed acquisition will see the Keppel DC Reit take a 90 percent interest in Keppel DC Singapore 3. The stake is valued at approximately S$202.5 million, according to an announcement from Keppel DC Reit Management. Read more>>
Longfor Properties Forecasts A Further Fall In Its Borrowing Rates
Longfor Properties, one of China’s largest residential and commercial developers, expects its financing costs to drop below five percent by the end of the year, even as the central government looks to tighten lending to the property sector.
The company’s average funding costs already stood at a record-low 5.18 percent at the end of June, down from 5.74 percent at the end of 2015. Read more>>
Singapore Property Developer Sing Holdings Buys Melbourne Hotel
Listed Singapore property developer Sing Holdings snapped up a Travelodge hotel in Melbourne’s Docklands for $107 million.
The 14-storey, 3.5 star hotel at 66 Aurora Lane, west of Southern Cross Station near Etihad Stadium, was sold by another Singaporean investor, the wealthy Kum family’s M&L Hospitality. Read more>>
Asia’s Real Estate Investment Market Playing Catch-Up
The Asia-Pacific region is often heralded as the home of tomorrow’s global cities, but for global investors looking for sensible places to park their funds, this part of the world does not necessarily provide the obvious answer.
One obstacle for Asia-Pacific real estate is fierce competition from local investors. Unlike New York and London where investments are often foreign- and institutional-driven, major Asian markets like Hong Kong, Singapore and Japan tend to be dominated by domestic capital. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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