PNT Reporter

26 Apr 2023

The National Bureau of Statistics (NBS) has reported that new home prices rose by 0.5% month-on-month in March, following a 0.3% increase in February. This marks the highest rate of growth since June 2021 and the third consecutive monthly increase. This is a positive indication of the market slowly recovering from it slump with the help of various supportive policies introduced by the government in the last year to tackle the crisis. However, the extent of this upward trend’s momentum remains uncertain.Read more

PNT Reporter

25 Apr 2023

Several businesses in Vietnam’s biggest cities such as, Ho Chi Minh City and Hanoi, have packed up and relocated during to soaring rents. Many believe the situation is partly due to a surge in inflation and economic pressure. Despite the current vacancy, real estate investors expect the lease price to rise, driven by the anticipated increase in demand as more foreign businesses migrate to Vietnam.Read more

PNT Reporter

25 Apr 2023

Sunac China Holdings Ltd, a real estate developer based in China, saw more than a 50% decrease in its market value upon the resumption of trade after being suspended for over a year. The decline occurred following the release of the company’s financial results and its agreement on a debt restructuring plan. The drop in share prices occurred one day after the company had announced to the Hong Kong stock exchange that it would resume trading and implement the debt restructuring plan.Read more

PNT Reporter

24 Apr 2023

Last week, the Ministry of Finance reported a decline in revenue from government land sales in China slowed for the month of March, thanks to various stimulus policies that boosted the confidence of developers. However, data from the same ministry showed that in the first quarter of this year, income from land sales, which is the primary means for local governments to raise funds, decreased by 27% compared to the same period in the previous year.Read more

PNT Reporter

24 Apr 2023

Earlier this month, Democratic Mayor Karen Bass of LA, made an announcement regarding the city’s severe homelessness crisis. She pledged to allocate a historic sum of $1.3 billion in the next budget to provide shelter and treatment programs for the unhoused individuals. This budget could potentially be utilized to purchase hotels or motels to convert into housing, and to identify other city-owned properties that could be used for sheltering the homeless.Read more

PNT Reporter

21 Apr 2023

New York City's real estate market has seen a surge in demand for rental properties, leading to a record-high median monthly rate of $4,175 in March 2023. Despite an increase in available units, the market is still struggling to keep up with demand. The average lease was signed with a 0.7% discount from the listing price, down from a 5% discount in February. The borough's vacancy rate rose to 2.54% last month from 1.89% a year earlier. Real estate agents expect rents to remain high.Read more

PNT Reporter

20 Apr 2023

Sunac China, a property developer facing challenges, submitted application to the Hong Kong stock exchange to resume trading of its shares starting April 13. The company also announced that it is currently working on implementing a restructuring plan. Trading of Sunac’s shares had been suspended last year due to the delay in releasing its financial results. Last month, the company finally published its overdue interim results for 2022, which revealed a core loss of 11.06 billion yuan.Read more

PNT Reporter

19 Apr 2023

The restructuring proposal of Adler Group SA, aimed at averting the imminent collapse of the German real estate company, was sanctioned by the High Court in London last week, despite resistance from certain bondholders. Judge Thomas Leech granted authorization for the plan after a hearing last week, during which legal representatives for Adler’s English subsidiary stated that the group would likely face insolvency proceedings by the end of April unless the proposal was approved.Read more

PNT Reporter

19 Apr 2023

If sourced are to be believed, Country Garden Holdings, a major real estate developer in China, has secured a loan of HK$900 million ($114.65 million) from a private lender to refinance a bank loan. The loan, extended by Flow Capital (HK) Ltd, an investment firm based in Hong Kong, will primarily be used to repay a Hong Kong loan owed by Country Garden’s subsidiary, amounting to around HK$700 million.Read more

PNT Reporter

18 Apr 2023

House prices in the European Union have declined for the first time since 2015 due to rising borrowing costs, causing a slowdown in the residential property market. According to Eurostat, house prices dropped by 1.5% in the final quarter of 2022, with the largest declines occurring in Denmark and Germany. The decline is expected to continue as interest rates rise, leading to a drop in demand for mortgages and downward pressure on property prices. Analysts are predicting a further deterioration in the coming quarters.Read more