5 d. ago Person connected to HSBC banker buys luxury property for US$15.9 million

A person connected to veteran HSBC banker Peter Wong Tung-shun bought a luxury unit in Hong Kong’s Southern district for HK$125 million (US$15.9 million), as sentiment in the city’s property market improves gradually. Two connected units with a total area of 4,616 sq ft were sold for HK$27,080 per square foot to Lion Rock (HK), according to Land Registry records. The property was handed over on Tuesday. The sole director of Lion Rock, Jeremy Wong Ka-chun, is also one of the three directors of...

Economics

5 d. ago Dubai and Abu Dhabi vie to attract Chinese luxury property buyers

Dubai and Abu Dhabi are jockeying to become the United Arab Emirates’ (UAE) top luxury property market amid increasing demand from Chinese buyers, according to agents. While Dubai was way ahead in terms of popularity, Abu Dhabi was increasingly finding favour with investors owing to its value proposition, according to Juwai IQI, a real estate broker with more than US$4 trillion in property listings globally on its platform. “Dubai and Abu Dhabi are similar markets in terms of product and...

Politics

6 d. ago Macau luxury property The 13 Hotel sells for HK$600 million to a local buyer

The 13 Hotel, touted as one of the world’s most expensive hotels, has been acquired for HK$600 million (US$76.43 million) by an unidentified investor in Macau, the city’s first such property transaction in eight years. The sale of the 22-storey lodging in Macau’s southernmost district of Coloane concluded a five-year search for a buyer, Savills Macau managing director Franco Liu said on Wednesday. The acquisition was Macau’s first hotel transaction since the fourth quarter of 2017, according to...

Economics

9 d. ago Texas governor signs bill banning Chinese citizens from buying property in state

A bill to restrict property ownership in Texas by Chinese citizens became law, more than two years after it was first introduced, setting up what could be a prolonged legal and political battle as critics plan to file a suit challenging its constitutionality. Governor Greg Abbott, a Republican, announced on Saturday that he had signed the bill, which also targets nationals from Iran, North Korea and Russia, into law. Abbott expressed support for the bill in February, writing on social media that...

Economics

9 d. ago China’s rolls out ‘property supermarkets’ to support ailing housing market

With another decline in housing prices in May and sentiment among buyers remaining subdued, Chinese authorities are rolling out “property supermarkets”, which are online or offline hubs where consumers can view homes. Chengdu last week became the latest city to launch a homebuying platform in an effort to make homebuying more transparent and efficient. The capital of southwestern China’s Sichuan province partnered with nearly 30 state-owned and private developers to feature more than 50 projects...

Politics

9 d. ago China rolls out ‘property supermarkets’ to help ailing housing market

With another decline in housing prices in May and sentiment among buyers remaining subdued, Chinese authorities are rolling out “property supermarkets”, which are online or offline hubs where consumers can view homes. Chengdu last week became the latest city to launch a homebuying platform in an effort to make homebuying more transparent and efficient. The capital of southwestern China’s Sichuan province partnered with nearly 30 state-owned and private developers to feature more than 50 projects...

Politics

3 w. ago US States Seek To Ban Chinese Citizens From Buying Land, Property

US States Seek To Ban Chinese Citizens From Buying Land, Property  Newsweek

Politics

3 w. ago Arizona governor vetoes bill barring China from buying property in the state

Arizona governor vetoes bill barring China from buying property in the state  Arizona Daily Star

Economics