Chinese Firms Are Investing Abroad at Fastest Pace in Eight Years
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.
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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.
Real estate brokerage stocks tumbled Thursday on waning expectations for Federal Reserve interest-rate cuts, and as a disappointing earnings release raised concern about the sector’s outlook.
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration.
A South Florida office skyscraper from Related Cos. landed new finance tenants, including a John Paulson business and a private equity firm that counts Mark Bezos as a founding partner.
Jan 17, 2022
Bloomberg News
,(Bloomberg) --
Asking prices for U.K. homes rose at the fastest annual rate in almost six years as the number of available properties dropped to a record low.
Online property portal Rightmove Plc said the price that sellers sought in January was 7.6% higher than a year earlier at 341,019 pounds ($467,000), the strongest growth since May 2016. Compared with December, the average price rose 0.3%.
Britain’s housing market continues to boom despite the end of a temporary tax break last year and an interest-rate increase in December, propped up by a chronic shortage of properties on offer and mortgage costs near a record low.
“Prices are likely to continue to rise until more choice is available,” Tim Bannister, Rightmove’s director of property data, said in a statement released Monday. “It’s clear that the trends which defined the market in 2021 have carried over into this year.”
There were signs that bottlenecks in the supply of new homes have begun to ease, however. The first working week of 2022 was “the busiest start of the year ever” for homeowners preparing to sell. The number of valuation requests was 44% above January 2021 levels and 48% above January 2020, before the pandemic struck.
For now, strong demand is colliding with historically low supplies of properties on the market. There was a 15% increase in enquiries from prospective buyers, and the number of homes on the books of each agent fell to an average of 12, a new record low.
The Bank of England’s decision to lift the benchmark interest rate from 0.15% to 0.25% appears to have had little impact so far. A separate survey published on Saturday by OnTheMarket, a rival property portal, found that optimism continues “unabated” with three quarters of buyers confident of making a purchase in the next three months.
However, it warned that “over the coming months house price growth may start to tail off” as more properties come onto the market and buyers respond to increasing mortgage rates.
The jump in average asking prices in January was driven by the most expensive homes and properties targeted at first-time buyers, which hit record levels, according to Rightmove.
London asking prices fell 1.2% last month. That left the annual pace of growth in the capital at 4.2%, the slowest of any region except for Scotland.
©2022 Bloomberg L.P.