Property agents have raised sales forecasts for the year amid project launches at discounted prices, but say a lack of a rate cut could pare those estimates.

Philippine chain Hotel101 Global targets 1 million rooms and a presence in more than 100 countries after signing an agreement to merge with a Hong Kong company, which aims to list on Nasdaq in New York.

A total of 130, or 70 per cent, of the 184 units on offer were sold on Saturday, according to sales agents.

The proposal to buy Far East Shopping Centre fell through after a firm linked to Du failed to get approval from the Urban Redevelopment Authority.

Rents in Singapore’s office market rose in the first three months of the year, shaking off two consecutive quarters of declines as some tenants snapped up limited premium spaces and others renewed their leases instead of relocating owing to cost considerations, according to Colliers.

Lianjia has teamed up with coffee chain operator Manner to open a cafe in one of its outlets in Shanghai, launching a crossover marketing campaign to drive transactions amid lack of homebuying interest.

The city’s commercial real estate market recovered partially in the first quarter of 2024 and is gearing up for further stabilisation this year as a rebound in consumption and policy support drive demand for leasing and investment, analysts say.

Troubled property developer Shimao Group Holdings is facing a liquidation suit brought by China Construction Bank, the country’s second-largest lender, for a financial obligation amounting to around HK$1.58 billion (US$201.8 million).

Sales of pre-owned homes in 25 major cities jumped by nearly 25 per cent in January and February, compared with the same period in 2022, as activity is on the rise in top-tier cities, analysts say.

‘Foreign investor appetite could not be stronger for Japan at the moment,’ JLL analyst says.

Grace Wee Jingsi, the youngest child of United Overseas Bank Ltd. CEO Wee Ee Cheong, is taking advantage of a lull in the city state’s high-end housing market to buy a ‘good class bungalow’, according to property filings.

The third price list covers 174 units and is 1.73 per cent higher than the first price list. CK Asset released the first price list for 138 units last Friday and a second one for 110 units last Saturday.

Hong Kong has been shut out of the rankings in a survey of innovation and concentration of talent in which cities in the Asia-Pacific region took five of the top 10 spots.

Second price list for Wong Chuk Hang project includes two- and three-bedroom flats priced from HK$9.05 million (US$1.16 million) to HK$24.7 million.

China’s troubled property market is on track for a gradual return to stability despite the many challenges it still faces, China Resources Land said as it posted close to a 12 per cent profit gain for 2023.

The lived-in home-price index fell 1.7 per cent in February versus 1.2 per cent in January, according to the Rating and Valuation Department. Prices have fallen for 10 months in a row, losing 13.7 per cent in value.

The Shanghai-based firm is seeking approval from offshore creditors for a restructuring plan, according to a filing made to the Hong Kong stock exchange late on Monday, as part of its latest efforts to avoid liquidation.

Mainland Chinese buyers are aggressively snapping up new luxury homes worth HK$30 million or more since the removal of all of Hong Kong’s property curbs last month, JLL says.

‘We are trying to overcome it, so that people will come back to Hong Kong and experience all of the good things it has to offer’, CEO Clement Kwok says. ‘That will take some time.’

The five-bedroom suite at the St. Regis Residences, with a private pool and a 180-degree panoramic view, has failed to attract any bidders.

Hong Kong’s current property market downturn is cyclical and not structural, with home prices set to decline by as much as 10 per cent this year as elevated interest rates keep demand in check, S&P says

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.

‘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.

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