Real Estate

Bloomberg Hong Kong will charge additional rates on unsold new apartments in a bid to limit hoarding by developers and cool a red-hot property market. Apartments left vacant for more than six months will be charged a 200 percent rate of the rental value, or equivalent to about 5 percent of the unit’s price, according to Chief Executive Carrie Lam, ...

Bloomberg Hedge funds run by Christopher Hohn and Dinakar Singh accused one of India’s largest real estate developers of defrauding its foreign investors of at least $1.5 billion. “If we do nothing, we will largely bleed dry and get nothing back,” Singh, who heads Axon Capital, said at a gathering in New York of investors in a fund started by ...

Bloomberg UK house-price growth has slowed to the weakest pace in five years, while London values are falling, according to Nationwide Building Society. The lender said the “subdued economic activity” and squeezed household budgets are keeping a lid on demand, and the national market is unlikely to see any change to the recent trend in the near term. Nationwide’s monthly ...

Bloomberg A mad scramble by Chinese property developers to build up their land banks is taking its toll on the industry’s creditworthiness, with builders singled out as having the highest risk of default as channels of credit tighten. The Bloomberg Default risk model, which tracks metrics including share performance, liabilities and cash flow, shows a 0.87 percent average probability that ...

Dubai / WAM Dubai Properties, a member of Dubai Holding, is drawing high interest for its upscale projects from investors and potential buyers in China as part of its participation at Luxury Property Showcase (LPS) Beijing 2018, the leading luxury property show that is currently underway in the Republic’s capital city. Dubai Properties, a member of Dubai Holding, is drawing ...

Bloomberg Sales of previously owned US homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors (NAR) data showed. The drop in sales was led by declines in purchases of single-family homes and cheaper properties, according to NAR, indicating that the market is being driven by ...

Bloomberg Singapore home sales jumped to the highest in nine months in May, underscoring signs the city-state’s property market is recovering. Developers sold 1,121 units last month, the Urban Redevelopment Authority said. That’s more than the revised 732 units in April and the highest since August. Still, sales are running at a slower pace than early last year. The city-state’s ...

Bloomberg PropNex Realty Pte, Singapore’s biggest property broker, plans to seek about S$40 million ($30 million) from a proposed Singapore initial public offering, people with knowledge of the matter said. The company is targeting a market capitalisation of as much as S$250 million, the people said, asking not to be identified as the deliberations are private. PropNex is considering launching ...

Abu Dhabi / WAM The Abu Dhabi City Municipality has called upon property developers to expedite the registration of their real estate development projects under the Real Estate Regulatory Law No. 3/2015. A statement to this effect was made during a meeting with escrow account managers and developers and licensing of property units team at the Municipality. Attendees of the ...

Bloomberg Riskier US mortgages are creeping back into the bond market again. The loans in question are nowhere near the toxic mortgages that brought down the financial system last decade. But they’re being made to people with lower credit scores and with more debt relative to their income. And in separate transactions tied to rental homes, Wall Street banks are ...