Real Estate

  Bloomberg Shum Chiu Hung, chairman of Chinese developer Times Property Holdings Ltd., has advice for those dismayed at record land bids in Hong Kong by mainland firms: “Get used to it.” Chinese developers have dominated Hong Kong’s land sales this year, splurging more than $2.9 billion to win all three residential plots tendered, including a record sum for a ...

  Bloomberg Philip Lowe has some high-powered backing if he leaves interest rates on hold Tuesday as widely expected. Days after the Reserve Bank of Australia governor signaled that rate cuts weren’t in the national interest amid record household debt, the securities regulator said it was looking at mortgage lending standards across the banking sector. The Organisation for Economic Co-operation ...

  Bloomberg PropertyGuru Pte, the top Southeast Asian real estate website backed by TPG Capital, expects to become profitable this year as it digests a clutch of acquisitions and rides growth in markets such as Indonesia and Vietnam. “We have hyper-growth, our revenues are growing over 30 percent,” Chief Executive Officer Hari Krishnan, 39, said in an interview in Singapore. ...

  Bloomberg UK house prices rose more than expected in February, according to Nationwide Building Society, a sign that the market’s strength has extended into this year. Prices gained 0.6 percent from January, a third month of gains. Economists predicted an increase 0.2 percent. From a year earlier, prices climbed 4.5 percent to an average of 205,846 pounds ($254,000). Britain’s ...

  Bloomberg Sun Hung Kai Properties Ltd., Hong Kong’s largest developer by market value, said half-year underlying earnings rose 57 percent, as sales benefited from a surging home market. Profit excluding property revaluations climbed to HK$14.6 billion ($1.9 billion) in the six months ended December 31, compared with HK$9.3 billion a year earlier, the firm said in a statement to ...

  Bloomberg Hong Kong’s property market is setting new records, quashing attempts by the city’s leaders to tame surging home prices. Existing home prices reached an all-time high in the week ended February 19, according to the Centaline Property Centa-City Leading Index, which tracks sales of secondary homes. In another sign of buyer demand, two Chinese companies bid a record ...

  Bloomberg Toronto may require measures to cool its red-hot housing market similar to moves taken in Vancouver if interest rates don’t increase, said Royal Bank of Canada Chief Executive Officer David McKay. The head of Canada’s largest lender said Toronto housing is “running hot” and is fueled by a “concerning mix of drivers” that include lack of supply, continued ...

  Bloomberg Hong Kong’s existing home prices have climbed to a record, fueled by a surge in demand from local buyers and investors despite taxes and mortgage curbs designed to rein in prices. The Centaline Property Centa-City Leading Index, which tracks sales in the secondary market, rose to 147.74 for the week ended February 19, surpassing the previous high of ...

  Bloomberg Evidence is mounting that Tokyo’s housing boom is nearing an end. In the Kachidoki area facing Tokyo Bay, home to the city’s hottest market given its proximity to venues for the 2020 Olympic Games, real-estate broker Hayato Jo has a wall full of notices of apartments for sale, with a 20 percent increase in the number of people ...

  Bloomberg The number of wealthy people granted investor visas to live in the UK fell by more than 80 percent last year from the peak in 2014, a sign that luxury home sales in the capital may slump further. While so-called Tier 1 investor visas rose 12 percent in 2016, the total granted was just 215, according to government ...