At the top of the news today, America’s best known investor doesn’t seem too worried about the long-term effects of China’s capital controls, and the country’s developers also ramped up their bets on the domestic property market at the end of the first quarter. Plus, the guys at HNA had to travel to Brazil to find something that they hadn’t bought yet. Read on for all these stories and more.
Berkshire Hathaway HomeServices on Monday said it entered into a marketing agreement with Juwai.com, China’s largest international property website, to attract wealthy Chinese buyers looking to purchase homes in the United States.
The real estate affiliate of billionaire investor Warren Buffett’s Berkshire Hathaway said the agreement will allow the roughly 2 million monthly users of Juwai.com and Juwai.com/luxe to browse its franchisees’ residential listings. Read more>>
Real estate investment in China remained robust in the first quarter from a year earlier, official data showed on Monday, as the pace of new construction quickened, despite intensified government cooling measures.
Growth in property investment, which includes residential, commercial and office spaces, accelerated to 9.1 per cent from 8.9 per cent in the first two months of 2017, the National Bureau of Statistics (NBS) said on Monday. Read more>>
The world’s hottest property stocks are to be found in China as tougher measures to cool real estate prices fail to deter investors.
Chinese companies account for nine of the 10 best performers this year on the Bloomberg World Real Estate Index. Among members of the MSCI China Index, Country Garden Holdings Co., Sunac China Holdings Ltd. and China Evergrande Group are the standout winners with gains of more than 70 percent, five times the pace of the benchmark measure. Read more>>
HNA Airport Holding Group Co Ltd is close to buying out the stake that engineering conglomerate Odebrecht SA has in Brazil’s second-busiest international airport, a person briefed on the matter said on Monday, partly solving an impasse with a government agency over licensing rights.
The Chinese company, which is part of HNA Group Co Ltd, is currently conducting due diligence proceedings that could lead to the purchase of the approximately 30 percent stake that Odebrecht has in the Rio de Janeiro international airport, commonly known as Galeão, said the person. Read more>>
Tokyo’s skyline is set to welcome 45 new skyscrapers by the time city hosts the Olympics in 2020, as a surge of buildings planned in the early years of Abenomics near completion.
Japan’s capital will see nearly 50 percent more new high-rise space in the next three years than it did in the preceding three, Toyokazu Imazeki, chief analyst at office leasing and consulting firm Sanko Estate Co Ltd., said in an interview. He said the increase was fueled by the fiscal expansion and monetary easing under Abe’s economic program, launched after his election in late 2012. Read more>>
When the Chinese government announced plans earlier this month for a new megacity a two-hour drive south of Beijing, instant gold fever erupted.
Fan Yushou, a 36-year-old businessman from Chongqing, about 1,100 miles away, hopped in his car as soon as he heard about the plans and drove for 20 hours. Home prices in the area more than doubled in the days after the April 1 announcement. Local media reported one Beijinger arrived with a trunk full of cash to buy apartments. Read more>>