Singapore Home Price Growth Slows, Rents Decline as Market Cools
Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
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Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
Hong Kong home prices rose for the first time in almost a year in March as the city’s removal of property curbs revived sales.
Greater China’s property market crisis and the challenges it poses for lenders will be on full display on Monday, when embattled developer China Vanke Co. and the region’s biggest banks report earnings.
China’s overseas investment is heading for an eight-year high as its dominant firms build more factories abroad, a shift that could soften criticism of Beijing’s export drive.
The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
Oct 11, 2021
Bloomberg News
,(Bloomberg) -- Some holders of two China Evergrande Group U.S. dollar bonds with coupons due Monday said they had yet to receive payment, the latest sign of the property developer’s escalating debt crisis.
The investors said they hadn’t received the coupons on the indebted firm’s 9.5% note due 2022, and its 10% bonds due 2023 as of 5 p.m. in Hong Kong, requesting anonymity as they aren’t authorized to speak publicly. Together with the payment due on a third bond -- a 10.5% note due 2024 -- Evergrande’s combined interest due on Monday was about $148 million, according to data compiled by Bloomberg.
There is a 30-day grace period before any missed payment would constitute a default, according to at least one of the bond’s offering memorandum. There was no immediate response from Evergrande to a request seeking comment outside of business hours.
The latest payment failure came after Evergrande missed the initial coupon deadlines for two other offshore bonds late last month. Bloomberg News also reported last week that creditors had yet to receive repayment of a separate dollar bond they say is guaranteed by Evergrande and one of its units.
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