China Property Woes Deepen With Vanke Slump, Country Garden Halt
One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
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One of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.
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Jul 14, 2021
Bloomberg News
,London rental values for private home fell in June as demand for property moved outside cities.
Rents in the U.K. capital declined 0.1 per cent, the only region that didn’t enjoy an increase, the Office for National Statistics said Wednesday. Nationwide, the cost of letting a home rose 1.2 per cent from a year ago, a rate unchanged since April.
More than a year of lockdowns to control the coronavirus has left workers seeking more space further from city centers, anticipating a permanent shift away from working full time in offices. The ONS also said it found more supply on the market with short-term lets moving toward longer term contracts.
The figures contrast with recent surveys suggesting a recovery in London prices. The estate agent Hamptons International found rents in central districts surged 4.3 per cent in June from the previous month, the fastest pace on record. Another index compiled by Molior London showed sales of new London homes picked up in the second quarter.
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