Hong Kong developers, seeking funds to tap an expanding government land supply, are this month preparing to sell the most homes in six years as expectations for prolonged low interest rates fuel demand.
China’s central bank called on the nation’s biggest lenders to accelerate the granting of mortgages, a sign that developers’ prices cuts and incentives alone won’t boost a slumping housing market and economy.
July 18 (Bloomberg) -- Nicole Wong, a Hong Kong-based property analyst at CLSA Asia-Pacific Markets, talks about the outlook for China's real estate market. New home prices in China in June rose in the most number of cities tracked by the government this year as buyer sentiment improved after the central bank cut interest rates. Wong speaks with Mia Saini on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
Hong Kong developers, exploiting a surge in prices since 2009, are selling shopping malls, offices and parking garages at the fastest pace in at least seven years to raise cash ahead of an increase in government land sales.
Sun Hung Kai Properties Ltd., the world’s biggest developer by value, posted a less-than-estimated decline in underlying profit as it put up fewer apartments for sale after the company’s chairmen were charged with bribery.