Core Insights - The real estate market in Richmond is experiencing significant price declines, with properties that were once highly valued now selling for much less than their purchase prices [4][7] - A recent listing in Richmond offers a three-bedroom property for under CAD 600,000, which is considered an attractive deal given its location and amenities [2] - The trend of decreasing property values is evident across various types of housing, including newly built homes and independent houses, indicating a broader market correction [4][7] Summary by Category Property Listings - A three-bedroom, two-bathroom property in Brighouse South, Richmond, is listed for under CAD 600,000, with a government valuation of CAD 635,000, reflecting a significant discount [2] - A newly built property purchased for CAD 868,000 in 2022 is now pending sale at CAD 700,000, indicating a loss of CAD 168,000, which could exceed CAD 200,000 when accounting for taxes and interest [4] Market Trends - Independent houses in Richmond are also seeing price drops, with one property purchased for nearly CAD 2 million in 2022 now being offered for around CAD 1.6 million, reverting to prices seen a decade ago [7] - The overall sentiment among potential buyers is negative, with many expressing doubts about the investment value of condominiums in Canada, citing rising management fees and overall costs [9]

专题：2025《中国企业家》影响力企业家年会 12月7日，"和讯财经中国2025年会"在北京举行，主题为"寻找中国经济破局之路"。国家统计局原局 长、阳光保险集团顾问邱晓华出席并演讲。 12月7日，"和讯财经中国2025年会"在北京举行，主题为"寻找中国经济破局之路"。国家统计局原局 长、阳光保险集团顾问邱晓华出席并演讲。 邱晓华谈到，2025年作为"十四五"收官之年，中国经济总体表现圆满。根据当前发展态势全年5%左右 的预期目标将如期实现。 邱晓华谈到，2025年作为"十四五"收官之年，中国经济总体表现圆满。根据当前发展态势全年5%左右 的预期目标将如期实现。 他指出，支撑经济实现目标有三大因素：一是宏观政策积极有效应对，包括积极的财政政策、适度宽松 的货币政策以及消费和投资政策，为经济爬坡过坎提供了有力支撑；二是出口表现超出预期；三是国内 市场韧性增强。 同时，邱晓华也提到，当前经济面临两大突出问题：一是物价持续低位运行，生产价格和消费价格尚未 恢复到正常水平，制约投资、消费和企业效益；二是国内有效需求不足，其中投资需求出现改革开放40 多年来首次负增长，1至11月投资下降约2%，主要受房地产投资两位数下 ...

他强调，如何对冲房地产投资下降带来的影响，将是下一步需要重点解决的问题。 12月7日，由联办集团、和讯共同主办、财经中国会承办，主题为"寻找中国经济破局之路"的和讯财经 中国2025年会暨第23届财经风云榜在北京举行。邱晓华在大会演讲中表达了上述观点。 他分析了支撑经济实现目标的三大因素：一是宏观政策积极有效应对，包括积极的财政政策、适度宽松 的货币政策以及消费和投资政策，为经济爬坡过坎提供了有力支撑；二是出口表现超出预期，尽管年初 面临美国"关税战"压力，但企业和进口商的"双抢效应"使得对外经济保持正增长；三是国内市场韧性增 强。 同时，邱晓华也指出当前经济面临的两大突出问题：一是物价持续低位运行，生产价格和消费价格尚未 恢复到正常水平，制约投资、消费和企业效益；二是国内有效需求不足，其中投资需求出现改革开放40 多年来首次负增长，1至11月投资下降约2%，主要受房地产投资两位数下降拖累（房地产投资占总投资 的1/3）。若剔除房地产因素，投资仍保持正增长。 12月7日，国家统计局原局长、阳光保险集团顾问邱晓华在发言中指出，2025年作为"十四五"收官之 年，中国经济总体表现圆满。根据当前发展态势全年5%左右 ...

根据中原地产研究中心数据显示，2021年楼市调控高达651次，刷新了历史记录，同比涨幅高达33%。 而在这样密集的调控下，楼市也发生了很大的变化。首先从整体房价来说，在2021年初时，我国的平均 房价为11220元/平方米，而到了年末时，平均房价回落到了9749元/平方米。 可以说，我国的平均房价突破万元大关后，又重新回落到万元以内的水准。那究竟是从什么时候开始下 跌的呢？根据2021年9月份70城房价数据显示："新房方面，27个城市新房房价环比上涨，7个城市新房 房价环比持平，36个城市新房房价环比下跌。而二手房方面，17个城市二手房房价环比上涨，1个城市 二手房房价环比持平，52个城市二手房房价环比下跌。" 从这我们就可以看出，在2021年下半年时，房价已经出现了普遍下跌的局面，甚至房价下跌的城市，占 据了最大比重。为何会出现这样的局面呢？主要还是因为调控政策收紧的情况下，那些投资者开始退出 房地产行业，而真正的购房者数量又不是很多，使得楼市出现了供给大于需求的局面，才导致房价出现 了下跌的局面。 要知道，这些年来，我国的房地产行业发展无疑是非常迅速的。在2000年我国的平均房价为2000元/平 方米，而 ...

上海建工公告称，2025年12月3日，其下属子公司沪建（都江堰）置业有限公司竞得都江堰 市"DJY2025-12(0701)"地块国有建设用地使用权。地块位于都江堰市幸福街道联盟社区，面积35,243.38 平方米，建筑面积大于35,243.38平方米且不大于88,108.45平方米，用途为住宅，使用年限70年，成交总 价26,432.55万元。该投资纳入2025年度投资计划额度，虽可能受多种因素影响收益，但符合业务发展策 略。 ...

上海, Nov. 28, 2025 (GLOBE NEWSWIRE) -- 全球领先的房地产及生活方式目的地开发商 ORA Developers 宣布将首次亮相上海国际高端房产盛会 (LPS)。 此次参展标志着 ORA 品牌在全球扩张过程中迈出的关键一步，彰显了 ORA 对全球顶级资产投资者日益增长的吸引力。 该公司将展示其在全球最令人向往的目的地（包括阿联酋、塞浦路斯和加勒比地区）精心挑选的标志性海滨开发项目，彰显其产品组合的广度和韧性。 阿联酋 ORA 首席销售官 Tamer Fikry 表示：“这是我们全球增长战略的自然延伸。 鉴于投资者对全球优质房地产的强烈需求，此次参展表明了 ORA 在这一关键市场的深度参与。 这与本集团在不同地区提供卓越设计、奢华生活方式和稳健投资价值的理念自然契合。” 富有远见的产品组合驱动全球战略 ORA 产品组合的总销售额估计超过 450 亿美元，彰显了该集团在七个国家开展的各类项目的成功。 该公司亮相上海 LPS，凸显了其滨海资产的战略价值： ORA 的 Bayn 项目（阿联酋）：这处 480 万平方米的总体规划社区位于阿布扎比和迪拜之间的战略增长走廊——甘图特。 Bay ...

Group 1: Market Outlook - The Hong Kong real estate market is expected to perform well, with a focus on increasing investment in property developers for global portfolio diversification[3] - Residential market fundamentals are stabilizing, with a 2.5% increase in residential prices year-to-date due to a surge in primary market transaction volumes[5] - Rental prices have risen over 20% in the past two years, driven by an influx of international students and increasing demand for family housing[9] Group 2: Investment Demand - Hong Kong currently boasts the highest residential rental yield among major Chinese cities, nearing 3.7%, with local buyers responding positively to rising rental expectations[11] - Non-local buyers accounted for one in four properties sold this year, marking the highest proportion since the end of quantitative easing[11] - The supply of new residential units has significantly decreased, with sales dropping from a peak of 25,000 units per year to about 10,000, indicating a structural supply shortage[14] Group 3: Commercial Real Estate Recovery - Commercial real estate risks are stabilizing, with improved absorption rates for office spaces due to financial sector expansion and increased demand for prime locations[17] - Retail sales are recovering steadily, supported by inbound tourism and a stronger RMB, with expectations of reduced negative rental growth starting in Q3 2026[17] - The sector is expected to benefit from ongoing market improvements and anticipated interest rate cuts in the U.S.[17] Group 4: Attractive Valuations - Major listed developers have outperformed the Hang Seng Tech Index this year, with dividend yields often exceeding 5%[18] - The sector presents an attractive investment opportunity despite some positive factors already reflected in stock prices[18]

Core Viewpoint - Link REIT demonstrates resilience in its interim performance for the six months ending September 30, 2025, despite facing significant macroeconomic challenges and a complex market environment [1][2]. Financial Performance - Total revenue and property net income decreased by 1.8% and 3.4% year-on-year, reaching HKD 70.23 billion and HKD 51.78 billion, respectively, primarily due to negative rental adjustments in Hong Kong and mainland China [8]. - The total distributable amount fell by 5.6% year-on-year to HKD 32.83 billion, with the distribution per fund unit down by 5.9% to HKD 1.2688 [8]. - The net debt ratio remained low at 22.5% as of September 30, 2025 [8]. Property Performance - The retail property portfolio maintained a stable occupancy rate of 97.6%, reflecting effective asset management strategies [6][11]. - The rental adjustment rate for renewals was negative 6.4%, with retail sales declining by 2.1% year-on-year [11]. - In mainland China, the retail property portfolio's occupancy rate remained high at 95.9%, despite a negative rental adjustment rate of 16.4% [9]. Regional Insights - Hong Kong's retail sector shows signs of recovery, although the full realization of rental income will take time [11]. - The Australian retail property portfolio saw a rental adjustment rate of 16.3% and an occupancy rate of 98.1%, with tenant sales increasing by 15.3% year-on-year [14]. - Singapore's retail assets maintained strong performance with occupancy rates at 99.8% and a rental adjustment rate of 12.9% [14]. Capital Management - The company benefits from a solid capital base and liquidity, with a slight increase in the debt ratio to 24.1% as of September 30, 2025 [16]. - The total debt amount rose to HKD 55 billion, with fixed-rate debt comprising 65.8% of total debt [16]. - The average borrowing cost decreased from 3.58% to 3.22% [16].

领展(00823)午后重挫逾6%，截至发稿，跌6.22%，报38.88港元，成交额7.76亿港元。 消息面上，领展房产基金午间公布截至今年9月底止中期业绩，可分派总额按年下降5.6%至32.83亿元， 每基金单位分派按年下降5.9%至126.88仙。期内，收益按年减少1.8%至70.23亿元，物业收入净额减少 3.4%至51.78亿元，主要由于香港及内地的续租租金调整率为负数，反映宏观环境及零售业受压。 领展同时表示，尚未就收购澳洲商场权益订立具约束力协议。大摩此前发布研报称，有传闻指领展计划 斥资15亿澳元收购三个购物中心各一半的股权，涉及昆士兰Sunshine Plaza、新南威尔斯州Macarthur Square以及西澳Lakeside Joondalup项目。大摩预料交易总投资收益率或达约5.4%，高于2025财年有效借 贷利率3.6%及澳洲央行现金利率3.6%，预测收购后将导致公司负债比率提升约4.6个百分点。 ...

智通财经APP获悉，领展(00823)午后重挫逾6%，截至发稿，跌6.22%，报38.88港元，成交额7.76亿港 元。 领展同时表示，尚未就收购澳洲商场权益订立具约束力协议。大摩此前发布研报称，有传闻指领展计划 斥资15亿澳元收购三个购物中心各一半的股权，涉及昆士兰Sunshine Plaza 、新南威尔斯州Macarthur Square以及西澳Lakeside Joondalup项目。大摩预料交易总投资收益率或达约5.4%，高于2025财年有效借 贷利率3.6%及澳洲央行现金利率3.6%，预测收购后将导致公司负债比率提升约4.6个百分点。 消息面上，领展房产基金午间公布截至今年9月底止中期业绩，可分派总额按年下降5.6%至32.83亿元， 每基金单位分派按年下降5.9%至126.88仙。期内，收益按年减少1.8%至70.23亿元，物业收入净额减少 3.4%至51.78亿元，主要由于香港及内地的续租租金调整率为负数，反映宏观环境及零售业受压。 ...