Real estate

Economy 08/17/22, 16:43

If China's real estate crisis continues to widen, it will certainly affect other important industries. Analysts point out that three businesses are most vulnerable. According to CNBC, Fitch Ratings analyzed in a report that China's real estate crisis will affect more than 30 different types of businesses and government entities over ...

Economy 08/03/22, 03:18

According to Bloomberg, China's banks might end up losing mortgages of 355 billion dollars as confidence in the country's real estate market plunges. With slowing economic growth and prolonged lockdowns from Covid control measures, there is no sign of recovery in the long-troubled property sector. The ongoing crisis deepened when hundreds of ...

Economy 07/31/22, 02:50

Epoch Times Chinese version reported that from July 21 to 26, at least 4 of China's top 100 real estate companies announced that they defaulted on U.S dollar bonds. Out of the four real estate companies mentioned above, Powerlong Properties is the largest one. On July 26, Powerlong Real Estate issued ...

Economy 07/30/22, 01:52

According to credit rating agency Standard and Poor's Global Ratings (S&P), China's real estate sales will decrease by about 30% this year. The drop doubled the firm's forecast.  S&P attributed homebuyers' recent mortgage payment boycotts to the sharp decline.  Director at S&P Global Ratings, Esther Liu, told CNBC on Wednesday that the ...

Economy 07/30/22, 01:48

Through inheriting her father’s wealth, Yang Huiyan became the wealthiest woman in Asia in 2007, according to Forbes magazine. Her title, however, is now barely held since China’s real estate industry has been hit hard by the cash crunch. The vice chairman of giant property development Country Garden has suffered as ...

Economy 07/28/22, 03:32

The crisis of mortgage payments in China has left some young people afraid to start a relationship, get married, and create a business. In China, a young man often considers owning a house a necessity before getting married. But the property bust has sent shock waves through the country’s middle class. Many ...

Economy 07/27/22, 00:34

According to Reuters, China's real estate giant Evergrande will release its debt restructuring proposal this week. The plan will not only decide the company's future but also signal Beijing how to overcome the ongoing real estate crisis in the country. Evergrande is the world's most indebted business, with about 300 billion ...

Economy 07/27/22, 00:24

China created a dedicated fund to support the heavily indebted sector, which has been lurching from one crisis to another. However, will this fund alone be enough to solve the problem? Larry Hu, the chief China economist at Macquarie, said, "I believe the fund would be part of the bigger package ...

Economy 07/26/22, 03:28

Xin Tang Ren News reported that a little-known Chinese company named ABP has overcome several bidders and won a special London government-approved project.  The largest greenfield project named "ABP Asia Business Port" was signed by ABP with then London Mayor Boris Johnson in 2013. It is also considered an important project ...

Social problem 07/19/22, 17:05

After a real estate contractor in Jingde city, Jiangxi Province, issued a "Notice to suspend construction" on June 30, the property owners jointly declared the suspension of installment payments, followed by a movement to announce the cessation of installment payments in many Chinese cities. So far, many real estate owners ...

Economy 07/15/22, 17:23

Due to the collapse of the real estate developments in China, many projects have been suspended. Homebuyers of unfinished projects are in desperate circumstances, and they blame the government's mismanagement and also point fingers at the banks. This issue affected grade A bank shares, as they continued declining, and the ...

California 01/10/22, 15:41

A Popstar known as "The Weeknd," whose real name is Abel Tesfaye, has his penthouse in Westwood, Los Angeles, up for sale for $22.5 million. According to public records, the special-effects-loving singer and songwriter paid $21 million for the mansion in 2019. It was one of the most expensive condo transactions ...

China 01/08/22, 15:40

The Chinese Communist Party (CCP) will ease debt rules to facilitate state-owned property developers to buy up assets of indebted private peers facing a liquidity issue. According to Reuters, the Chinese authorities have urged state-owned builders to examine the assets of private firms experiencing liquidity problems as an increasing number of ...

China 12/22/21, 15:33

Shimao Group, a giant Chinese real estate group, has sold their stakes in a major project named Victoria Harbor in Hong Kong, according to Epoch Times. The deal was paid in cash, with an estimated loss of nearly $90 million.  Shimao Group is ranked 13th among China's real estate businesses with largest ...

China 12/16/21, 18:50

An Economist in the U.S., Li Hengqing, told Epoch Times on Dec. 11 that for a considerable time, house prices in China had continuously increased, not decreased.  However, house prices will continue to fall shortly because they need to sell properties quickly to get money to survive in these uncertain times. The ...

China 12/07/21, 15:22

More than a dozen major real estate firms in China have seen their stocks nosedive, according to a report. There are more than 30 real estate companies worth over $30 billion in China. 17 of them have had their stocks drop more than 50%, compared to the peak in 2018. Throughout this ...

Uncategorized 12/04/21, 07:02

China Evergrande founder Hui Ka Yan sold his 1.2 billion Evergrande shares on November 25th, raising 2.7 billion $HK - about 0.35 billion USD. Hui Ka Yan's share ownership has fallen from 70,97% to 61,88%.  Reuters reported that Hui Ka Yan's wife Ding Yumei holds about 792 million shares of Evergrande ...

U.S. 11/13/21, 16:37

A New Mexico town previously occupied by the military from the 19th century is now seeking a new owner for $11 million. The town has been on sale since Nov. 5, the New York Post reported. With $11 million, the potential owner is promised a property with a profound history.  The Fort ...

China 10/21/21, 20:32

The real estate sector in China is facing a grim period as house prices start to see a monthly drop in some major cities. Of the 70 largest cities in China, there had been 36 of them with plummet price values, an expanded number from 16 cities in August, according to ...

China 10/06/21, 04:15

A midsize Chinese real estate developer missed a $282.1 million bondholder payment today, adding to the industry's financial woes as one of the country's largest developers fights to avoid defaulting on billions of dollars in debt. Like its larger rival, China Evergrande Group, Fantasia is based in Shenzhen and has struggled ...