Hong Kong’s private home prices edged up 1.4 percent from February (Getty Images)
In today’s roundup of regional news headlines, Hong Kong home prices climb for a third month in a row as cross-border traffic returns, and ESR completes its latest logistics facility in Japan. Also in the news, US data centre player Colt breaks ground on a Japanese data centre and Singapore shophouse sales sink.
Hong Kong Home Prices Rose for Third Straight Month in March
Hong Kong private home prices in March rose for a third month and edged up 1.4 percent from February, as the reopened border with China and a raft of new launches by property developers at attractive prices boosted market sentiment.
The rise in home prices last month followed a revised 2.4 percent gain in February, official data showed on Wednesday. Read more>>
ESR Completes Japan’s Tallest Logistics Facility in Tokyo
Industrial giant ESR on Wednesday announced the completion of a nine-storey logistics facility in Japan, ESR Higashi Ogishima Distribution Centre.
The newly completed facility is located 10 kilometres (6.2 miles) from Haneda Airport and is close to central Tokyo and the centres of Yokohama and Kawasaki City. Read more>>
Colt DCS Starts Work on Fourth Japan Data Centre
Colt Data Centre Services has begun construction on its fourth major data centre in Inzai City, Japan.
Inzai City is located in Chiba prefecture, northeast of Tokyo. The region is one of the most competitive areas of data centre real estate for enterprise, research and technology customers. Read more>>
China Completes Landmark National Real Estate Registration System
China has finished building a national and unified system for real estate registration, the official Xinhua news agency reported on Tuesday, in a landmark move that will boost transparency in ownership.
In 2014, China issued rules requiring real estate owners to register their holdings with authorities but faced heavy resistance from local governments unwilling to open up their books. Read more>>
Singapore Commercial Shophouse Sales Neared Three-Year Low in Q1
Commercial shophouse sales in the first quarter of 2023 fell to 28 transactions, the lowest in quarterly sales volume in nearly three years, as investors turned cautious on high interest rates, PropNex said Tuesday.
Sales in the quarter were marginally higher than the 23 shophouses sold in the second quarter of 2020, when pandemic restrictions wiped out activity. Read more>>
Ascott to Open 70 Properties Globally in 2023
CapitaLand Investment’s international lodging business unit, The Ascott Ltd, says it expects to open 70 properties globally across fast-growing markets in Asia Pacific and Europe in 2023.
The 70 properties, which have close to 13,500 units, will span all Ascott brands, including Lyf, Citadines and Oakwood. Read more>>
Korean Rental Deposit Scammers Get Prison Time
A South Korean court Tuesday sentenced three real estate scammers to five to eight years in prison after finding them accountable for making leveraged bets on apartments using tenants’ long-term deposits.
The three defendants were part of some 140 people who were charged with real estate fraud by police in recent months and handed over to prosecutors for indictment. Read more>>
Mahindra Lifespaces Bags $104M Redevelopment Project in Mumbai
Mahindra Lifespace Developers shares gained 3 percent Tuesday after the company said it had bagged a bid for a society redevelopment project in Mumbai.
According to a statement, Mahindra Lifespaces, the real estate and infrastructure development arm of Mahindra Group, has been selected as the preferred partner to redevelop a residential society in the western part of Mumbai. The project will offer Mahindra Lifespaces a revenue potential of around INR 850 crore ($104 million). Read more>>
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