Li Ka-shing says HK’s home price adjustment is nothing special
Hong Kong home prices fell the most in seven years in November, and look to be headed down further. But if you’re the city’s biggest billionaire, this isn’t a major issue. Meanwhile JP Morgan’s Ryan Li gives the mainland government a thumbs up for its urbanisation plan, and much more. Read on for details.
Li Ka-shing Say 10% Drop in HK Home Prices No Big Deal
Billionaire Li Ka-shing has described a 10 per cent fall in Hong Kong home prices as “nothing special” as the business environment is getting tougher this year.
“This year, people in different industries will have to work harder … Retail [sales] are falling, the import and export business is declining while hotel [operators] also see lower income,” he said ahead of the annual dinner held by his group of companies – CK Hutchison Holdings and Cheung Kong Property Holdings – on Thursday. Read more>>
JP Morgan Thinks China’s Unsold Home Problem is Nearly Solved
As Chinese equities start the year in free-fall, one analyst has a counterintuitive call on what is perhaps the country’s most-feared sector.
China’s shaky real estate market is the proverbial black swan in sight; a segment in which an abrupt correction could potentially bring about a hard landing in the world’s second-largest economy. While the China Developers Index is down roughly 35 percent from its 2015 peak, it began a stretch of marked outperformance relative to the Hang Seng China Enterprises Index in the final two months of the year. Read more>>
HK Home Prices Down 3% in November – Biggest Drop Since 2008
Hong Kong’s official home price index dropped 3 per cent November on month, the biggest monthly fall since 2008, as industry experts caution that weakness in the local property market is likely to persist this year.
The Rating and Valuation Department’s monthly supplement released Friday, showed the general price index for private homes fell to 293.4 in November from 302.5 a month earlier. It reflected the first time the home price index has slipped below the 300 level since May last year. Read more>>
Agile Property Opens Sales for First Malaysian Project in KL
Agile Real Estate Development Sdn Bhd launched its maiden project in Malaysia, ‘Agile Mont Kiara’, a 10 acre residential development in the heart of Mont Kiara. The Agile Mont Kiara, a joint venture project between Agile Real Estate Development Sdn Bhd and PJ Development Holdings Berhad was officially launched by Datuk Hj. Mhd. Amin Nordin bin Abd Aziz, the Mayor of Kuala Lumpur at the project site and showroom.
Mhd. Amin said, the city welcomed reputable international investors and developers such as Agile Property Holdings Limited. Read more>>
Is China Now Leading the World in Skyscraper Demolitions?
About 460 million square meters of buildings may have been demolished ahead of their designed service life in China annually from 2011 to 2015, with associated costs likely to have hit 460 billion yuan ($69.8 billion) each year, according to China Youth Daily.
The paper reached these estimates based on a report released by the China Academy of Building Research (CABR) in 2014. It said that a total of 4.6 billion square meters of buildings were demolished in China from 2006 to 2010, 2 billion square meters of which had been in service for less than 40 years when removed. Read more>>
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