‘It’s overall a pretty outstanding location, and pretty outstanding locations will be successful,’ Christian Ulbrich says.

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.

Secretary for Development Bernadette Linn said Kai Tak isolation centre at site of old airport could become ‘cultural and creative industry base’.

Prices weakened in March, extending sequential erosion since May 2023. China’s efforts to stem declines in home prices have not produced the desired results, prompting Goldman Sachs to predict a more aggressive policy response.

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.

The launch of Blue Coast marks the biggest residential offering since the city government removed property curbs and relaxed its mortgage policies in February.

Even in the absence of the buying restrictions, a healthy supply and elevated interest rates mean the city’s infamously expensive house prices are unlikely to return to the kind of breakneck growth seen in the past, analysts say.

The government will provide millions in funding to make it easier and cheaper to build new homes, with an emphasis on prefabricated modular units.

Transactions involving lived-in homes in Shanghai shot up in March as owners offered discounts to bargain hunters, but the outlook for the city’s housing market remains cloudy due to concerns about a bleak economy.

Hong Kong property sales rose to a 10-month high in March, surpassing 5,000 deals a month after the government lifted all property cooling measures, data from the government shows.

Prices of second-hand homes in 100 mainland cities fell in March, extending a sequential monthly drop that began in April 2022 as buyers held out for better terms.

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.

Chinese developers suffered another dismal month in March as new home sales tumbled 46 per cent from a year earlier. It would be premature to expect a turnaround amid an ongoing liquidity crisis.

Housing director Rosanna Law says she is ‘not very worried’ about slowdown in subsidised homes market and highlights number of people ‘waiting in line’ for public flats.

Trends are likely to cap any rental gains in the retail property segment, where recovery will proceed in a gradual manner, analysts say.

Distressed Chinese property developer downplays the possibility of a liquidation after it hired the financial advisory firm to assess the amount of money creditors could recover in such an event.

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.

Embattled property developer Country Garden said it is injecting funds into an unfinished skyscraper project by introducing a new partner, an announcement which sent its shares soaring.

Homes in England are more cramped than those in New York City, according to new analysis that showed UK property offers the worst value for money in the developed world.