Here is a list of the day’s latest China real estate news collected from around the web:
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Mapletree REIT Jumps in Asia’s Biggest 2013 IPO
Mapletree Greater China Commercial Trust (MAGIC), Asia’s biggest share sale this year, gained on its first trading day as investors were attracted by returns higher than those of comparable properties.
The shares gained 10 percent to S$1.025 at 2:04 p.m. in Singapore after being offered at 93 Singapore cents apiece. They started trading at 2 p.m. and were 29.5 times subscribed. -
Soho China CEO Downplays Cooling Measures
China’s latest attempt to cool its property market won’t be as effective as policy makers would like in making homes more affordable because investors will continue to hoard apartments and limit supply, Soho China Ltd. 0410.HK -2.57% Chief Executive Zhang Xin said.
Last week, China’s State Council said it would strictly enforce a 20% capital-gains tax on profits from home resales, raise down payment and mortgage rates for second home buyers and expand home purchase restrictions.
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Canadian luxury real estate set for a boost from the newly rich
Dramatically growing numbers of mobile, wealthy individuals around the world promise to push up demand for luxury real estate, making high-end properties in Canada’s biggest cities increasingly valuable.
In 10 years, there will be 50 per cent more people on the planet with more than $30-million (U.S.) in net assets – or about 286,000 – according to a new report from British-based real estate consultancy Knight Frank. Emerging markets in Asia and Latin America will see the most dramatic growth, with China’s wealthy population expected to more than double by 2022.
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