Chinese lender cuts discount for first-time home-buyers
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The Industrial and Commercial Bank of China, the world's largest lender by market value, has suspended a 15-per-cent discount on mortgages for first-time home buyers nationwide, the official Xinhua News Agency reported last week.
The decision, made primarily to address liquidity tightness and deposit instability, may be followed by the other large Chinese lenders including China Construction Bank Corp and Bank of China Ltd, according to Religare Capital Markets.
The change “is likely to cause some short-term dampening in sentiment towards China property stocks and some potential buyers,” Karen Kwan, a Hong Kong-based analyst at Religare, said in a note today. Still, the brokerage remains positive on Chinese property as the move isn’t a change in government policy, she wrote.
– Bloomberg
New luxury project from Land & Houses
Land & Houses is introducing its latest luxury single detached house project, Ladawan Ratchapruk-Pinklow, worth over than Bt10 billion with prices starting at Bt40 million per unit.
The project has 234 units. Designs under “the Ultimate Collection” theme, the project is locate over 215 rais. – The Nation
Sukhumvit hotel up for sale
One of Asia’s newest and most innovative hotels, the Aloft Bangkok – Sukhumvit 11, has been put up for sale by international tender through Jones Lang LaSalle Hotels.
“The hotel, recently opened in February 2012, was built with the intent to sell upon completion, allowing a potential hotel investor to avoid a typical planning and construction period of more than three years” said Mike Batchelor, managing director of Jones Lang LaSalle Hotels. – The Nation
Luxury single detached
Quality Houses is introducing its latest luxury single detached house project, Ladarom Elegance Ring Road-Sathorn, worth Bt2.8 billion. It has 207 units, with price starting at Bt8.5 million.
The project, designed in the Tuscany style, has utilisation space of between 310-435 square metres on the land starting at 278 square wah. – The Nation
