An aerial view shows residential buildings under construction by Chinese real estate developer Vanke in Hangzhou, in eastern China’s Zhejiang province, on March 15, 2024. Photo: AFP

China property: rate of decline in investment slows, official statistics show

In January and February, property investment declined 9 per cent year on year, slightly slower than the drop in 2023, according to official statistics.

18 Mar 2024 - 5:36PM

exclusive | Gaw Capital bets on Vietnam, Mexico and US opportunities to offset China woes

Gaw Capital Partners, one of Hong Kong’s biggest real estate private-fund management firms, is focusing on logistics in Vietnam and Mexico, as well as the AI sector bailing out distressed office assets in the US, amid challenges to an economic recovery in mainland China.

Gaw Capital Partners, one of Hong Kong’s biggest real estate private-fund management firms, is focusing on logistics in Vietnam and Mexico, as well as the AI sector bailing out distressed office assets in the US, amid challenges to an economic recovery in mainland China.

18 Mar 2024 - 11:24AM

Japanese firms make the most of Hong Kong’s low rents, snap up retail spaces

Over the past two years, Japanese businesses have been the most active among foreign firms in terms of leasing retail spaces in Hong Kong, according to data compiled by JLL.

Over the past two years, Japanese businesses have been the most active among foreign firms in terms of leasing retail spaces in Hong Kong, according to data compiled by JLL.

18 Mar 2024 - 8:42AM

Buyers snap up new flats in Kowloon Bay project as curb-free market rebounds

Some 238 of the 336 units available in the first batch at Uptown East in Kowloon Bay, worth about US$179 million, found buyers as of 6pm on Sunday, in a sign that the removal of all market-cooling measures has revived demand in Hong Kong.

Some 238 of the 336 units available in the first batch at Uptown East in Kowloon Bay, worth about US$179 million, found buyers as of 6pm on Sunday, in a sign that the removal of all market-cooling measures has revived demand in Hong Kong.

17 Mar 2024 - 9:14PM

Sale of Hong Kong mansion signals luxury property rebound after curbs lifted

The 90-year-old converted mansion, Jessville Manor, has changed hands for HK$207 million (US$26.5 million), adding to evidence that the recent scrapping of property curbs may be starting to revive the luxury housing market.

The 90-year-old converted mansion, Jessville Manor, has changed hands for HK$207 million (US$26.5 million), adding to evidence that the recent scrapping of property curbs may be starting to revive the luxury housing market.

16 Mar 2024 - 7:48AM

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A homebuyer walks past an unfinished residential building at the Gaotie Wellness City complex in Tongchuan, Shaanxi province in September 2023. Photo: Reuters

China struggles to arrest slide in home prices as credit crunch keeps buyers away

New home prices fell again in February, despite a slew of measures to prop up the market. While more easing measures can be expected, an ‘L-shaped’ recovery is likely in the coming years given weak fundamentals, Goldman says.

15 Mar 2024 - 2:48PM

Wheelock prices Seasons Place project at 5-year low for Tseung Kwan O

Hong Kong developer Wheelock Properties has priced a first batch of 130 units at its Seasons Place residential project in Tseung Kwan O at a five-year low for the district.

Hong Kong developer Wheelock Properties has priced a first batch of 130 units at its Seasons Place residential project in Tseung Kwan O at a five-year low for the district.

14 Mar 2024 - 7:51PM

Hangzhou, home to Alibaba and Geely, scraps more rules to revive housing market

The local government in Hangzhou has taken another drastic move to ease home-purchase restrictions, after an effort last year failed to sustain a rebound in the housing market.

The local government in Hangzhou has taken another drastic move to ease home-purchase restrictions, after an effort last year failed to sustain a rebound in the housing market.

14 Mar 2024 - 5:02PM

Swire Pacific posts record US$4.6 billion profit, eyes healthcare for future growth

Conglomerate reports record profit of HK$36.2 billion (US$4.6 billion) for 2023, nearly eight times better than 2022’s HK$4.7 billion.

Conglomerate reports record profit of HK$36.2 billion (US$4.6 billion) for 2023, nearly eight times better than 2022’s HK$4.7 billion.

14 Mar 2024 - 5:54PM

Country Garden to raise funds for US$13 million bond coupon within grace period

Country Garden is trying its best to pay a 96 million yuan (US$13.3 million) bond coupon within a 30-day grace period, the Chinese developer says in a reply to the Post.

Country Garden is trying its best to pay a 96 million yuan (US$13.3 million) bond coupon within a 30-day grace period, the Chinese developer says in a reply to the Post.

13 Mar 2024 - 4:49PM

China Vanke claims junk-level downgrade is manageable as shares and bonds gain

The impact of Monday’s downgrade is ‘controllable’, the second-largest Chinese developer says. Its shares rose more than 10 per cent to HK$6.30 on Tuesday on belief commercial banks will raise up to US$11.1 billion to repay its debts.

The impact of Monday’s downgrade is ‘controllable’, the second-largest Chinese developer says. Its shares rose more than 10 per cent to HK$6.30 on Tuesday on belief commercial banks will raise up to US$11.1 billion to repay its debts.

12 Mar 2024 - 5:45PM

Wharf sees more struggles ahead in China after weak 2023 property sales, profit

‘China faces considerable domestic challenges, from a sluggish property market to weak consumer sentiment, Wharf says. After a poor result in 2023, more time is needed to revive the property markets, it says.

‘China faces considerable domestic challenges, from a sluggish property market to weak consumer sentiment, Wharf says. After a poor result in 2023, more time is needed to revive the property markets, it says.

12 Mar 2024 - 7:25PM

China Vanke debt cut to ‘junk’ by Moody’s as funding concerns mount

The international ratings agency has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.

The international ratings agency has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.

12 Mar 2024 - 12:36AM

Hong Kong exhibition centre events near pre-Covid numbers

The number of events in the second half of 2023 hit 84 per cent of the pre-pandemic level and is on track to match it this year, top executive says.

The number of events in the second half of 2023 hit 84 per cent of the pre-pandemic level and is on track to match it this year, top executive says.

11 Mar 2024 - 6:58PM

Chinese regulators ask large banks to step up support for Vanke, sources say

The State Council is coordinating efforts related to supporting China Vanke, according to sources. Any debt repayment troubles at Vanke could further dampen market confidence, analysts say.

The State Council is coordinating efforts related to supporting China Vanke, according to sources. Any debt repayment troubles at Vanke could further dampen market confidence, analysts say.

11 Mar 2024 - 5:16PM

Excess supply, weak prices plague China’s housing market amid limited policy aid

China’s housing market is still plagued by excess supply of used homes as desperate owners look to cash out amid an economic gloom. Prices may need to drop further, with buyers waiting for bigger discounts, analysts say.

China’s housing market is still plagued by excess supply of used homes as desperate owners look to cash out amid an economic gloom. Prices may need to drop further, with buyers waiting for bigger discounts, analysts say.

11 Mar 2024 - 12:32PM

Shanghai housing market’s downwards trend to continue amid low demand

Shanghai’s housing market looks set to continue its downward slide due to a lack of buying interest, as would-be buyers wary of a gloomy economic outlook continue to feel uneasy about the current high property prices.

Shanghai’s housing market looks set to continue its downward slide due to a lack of buying interest, as would-be buyers wary of a gloomy economic outlook continue to feel uneasy about the current high property prices.

10 Mar 2024 - 3:02PM

Hong Kong hotels see lift from Rugby Sevens, Art Basel after ‘Swiftonomics’ miss

Hong Kong’s hotels are looking at sporting, arts, consumer and entertainment events in the year ahead to drive tourist flows into the city

Hong Kong’s hotels are looking at sporting, arts, consumer and entertainment events in the year ahead to drive tourist flows into the city

10 Mar 2024 - 3:09PM

Homebuyers hoover up more than 90% of units at Henderson Land’s Belgravia Place

Homebuyers flocked to a second round of sales at Henderson Land Development’s Belgravia Place project on Thursday amid expectations that first-hand sales are likely to hit a 40-month high in March.

Homebuyers flocked to a second round of sales at Henderson Land Development’s Belgravia Place project on Thursday amid expectations that first-hand sales are likely to hit a 40-month high in March.

7 Mar 2024 - 10:12PM

Wharf Reic aims to stimulate spending with promotions after posting flat profit

Harbour City and Times Square owner’s full-year 2023 profit fell 3 per cent to US$767.3 million even as revenue jumped 7 per cent. The company hopes to overcome headwinds through promotional activities with the Hong Kong government.

Harbour City and Times Square owner’s full-year 2023 profit fell 3 per cent to US$767.3 million even as revenue jumped 7 per cent. The company hopes to overcome headwinds through promotional activities with the Hong Kong government.

7 Mar 2024 - 5:33PM