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【CNBC】New warning signs emerge for China’s property market

  • Data for May show China’s massive property sector is still struggling to turn around, despite signs of recovery earlier this year.
  • New home sales for the week ended May 28 grew by 11.8% from a year ago, a sharp slowdown from 24.8% growth a week earlier, pointed out Nomura’s chief China economist Ting Lu in a report.
  • In the secondary-home market, business activity “has been cooling since April, with a fall in the number of listed-for-sale homes, lower asking prices and fewer transactions,” Fitch Ratings said.

【CNBC】Singapore overtakes Hong Kong as the most expensive Asia-Pacific city for private homes

  • Singapore’s private rental homes have the highest monthly rent in the region at $2,600, “far exceeding” other cities, according to the latest Home Attainability Index.
  • Home prices in Hong Kong have “dropped substantially” in 2022, ULI said, citing the significant increase in mortgage interest rates as it keeps pace with the U.S. Federal Reserve.

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