Home prices in more than a half-dozen major cities across Asia Pacific, including Beijing, Auckland and Tokyo, jumped up by double-digit percentiles over the last year. Cheap mortgages and strong demand are driving up prices, much as in the U.S. and around the globe, according to CNBC. Topping the list was Auckland, New Zealand, where prices surged 25 percent in June from a year ago. New Zealand considered to be at high risk of a
JLL is considering offloading one of its global businesses. The Chicago-based firm is exploring a sale of its China property management business, which is estimated to be worth at least $500 million, Bloomberg News reported. JLL is working with an advisor on the potential sale, which would not include its brokerage or valuation business in the country. The potential sale has drawn some interest from other property management firms and investors, according to the report.
Shanghai’s office market stands to benefit from strong appetite from foreign financial firms. Financial institutions from around the globe moved to grab office spaces and expand their operations when the Chinese government announced last year it would ease restrictions on foreign involvement in the country’s financial system. Many are staying the course, according to Bloomberg. “Foreign financial tenants are undeterred by the outbreak. We haven’t really seen anyone winding back expansion plans like some other
For months, trade war tensions with China have been on the rise. The Chinese government said Friday morning it would implement a $75 billion retaliatory tariffs on U.S. goods — a response to President Trump’s $300 billion tariff on Chinese goods. After the announcement, Trump said he would raise tariffs on Chinese goods by as much as 30 percent, according to the Wall Street Journal. As the back and forth unfolds, watch the video above …