Guangzhou R&F boss Li Sze-lim has reason to smile after a 56% jump in sales
The top real estate stories in the region are all about home sales today, as a major league mainland developer declares a 56 percent jump in new contracts, and housing prices in Hong Kong hit another record high. Meanwhile in Singapore the market recovery continues to pull more sites into the pipeline. Read on for all these stories and more.
Guangzhou R&F Says Contracted Sales Rise 56% in 2017
Guangzhou R&F Properties Co., a Chinese property developer, said Wednesday its contracted sales for October were up 56% on year.
October contracted sales amounted to approximately 6.71 billion yuan ($1.01 billion) with 548,700 square meters of gross floor area, the company said in an exchange filing. Read more>>
Hong Kong Home Prices Hit Record High
Hong Kong’s property prices hit a record high last month, but growth is slowing. The government index tracking the prices of private domestic homes edged up 0.27 percent in September from August, government data showed yesterday.
It came as house No. 3 of Mount Nicholson was sold at an Asian record high price for HK$1.16 billion or HK$126,000 per salable square foot. The home price gain marked the slowest growth since December 2016, according to updated official data. Read more>>
Shanghai Home Sales Slump to Five-Year Low
NEW home sales plunged in Shanghai last month amid historically low supply, suggesting extremely sluggish sentiment among both home buyers and real estate developers as tightening measures continued to bite.
The area of new residential properties sold, excluding government-funded affordable housing, dropped 36.9 percent from September to 335,000 square meters, Shanghai Centaline Property Consultants Co said in a report released today. Year on year, that represented a dive of 61.4 percent. Read more>>
Bukit Timah Residential Site on the Market for S$448.8M
A plum 99-year leasehold residential site in posh Bukit Timah Road has been put on the market at a minimum price of $448.8 million.
The reserve list plot known as Fourth Avenue was triggered for sale when a developer offered the minimum price. Read more>>
Balmoral Road Project Joins SG Collective Sale Surge
Yet another residential development has been launched for a collective sale, this time at 11 Balmoral Road. All owners of the 17-unit freehold development in prime district 10 have given their approval for the sale.
The sole marketing agent, JLL, said that owners are asking for $75 million, which translates to an estimated land rate of $1,761 per sq ft per plot ratio, inclusive of development charge. Read more>>
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