Hong Kong home prices lead the way in Mingtiandi’s roundup of Asia real estate headlines today with a Swiss investment bank warning that US-China tensions will start to bite, while trade tariffs prompt several major hotel groups to double down on their China expansion.
In other news around the region, Vietnam cries foul over some shady mainlanders buying land, while a China property portal finds a new friend in Cambodia. Elsewhere, the world’s most famous maker of ready-to-assemble beds and chairs has launched a space-saving furniture system powered by a robot called Rognan.
The escalation of the US-China trade war could derail the recent upbeat outlook on Hong Kong real estate, with Credit Suisse predicting that all segments of the property market will see a decline in prices this year.
The Swiss bank said credit conditions could tighten further as banks become more reluctant to lend, leading to a rise in the Hong Kong interbank offering rate (Hibor), the interest rate at which banks lend to each other. Read more>>
The latest data from the US Commerce Department shows Chinese tourism to the US has dropped for the first time in 15 years amid the ongoing trade war, but the US-China tensions have emboldened US hotel operators to double down on their expansions across China to ensure they get their brand in front of the important Chinese traveler.
Large hotel operators Marriott, Hilton and Hyatt have been aggressively expanding across China in 2019. Read more>>
An increasing number of Chinese companies and individuals are using Vietnamese proxies to acquire land illegally.
The Ministry of Public Security has reported to the National Assembly that Chinese nationals and entities are buying or renting land in premium locations along Vietnam’s coastline in the names of Vietnamese citizens. Read more>>
India’s leading realty firm Elan Group has tied up with NY Cinemas, a venture by Ajay Devgn, to set up a multiplex in its Gurgaon sector-70-based project Elan Epic.
This is the first ever tie-up of NY Cinemas in North India. Elan Group will be investing Rs 450 crore ($65 million) to develop this luxury retail destination. Read more>>
A retreat by Chinese investors is raising the cost of a once reliably cheap source of financing for big US real estate projects.
The US government investment program known as EB-5 offers property developers low-cost capital from wealthy foreigners. These investors agree to invest at least $500,000 in real-estate projects in exchange for US residency. Read more>>
Realestate.com.kh, Cambodia’s largest real estate website, has linked up with one of the foremost names in China’s property sector, Fang.com.
The move comes as companies both in Southeast Asia and abroad are looking for new ways to connect with China’s massive consumer market. Read more>>
Ikea is launching a new robotic furniture system called Rognan, developed in collaboration with American furniture startup Ori Living.
The large storage unit, controlled by a touchpad, can slide across a room to divide a small room into two living spaces, and contains a bed, desk, and a couch for people to pull out when needed. It’s designed for people living in urban areas to maximize their small spaces, and will launch first in Hong Kong and Japan in 2020. Read more>>