Core Insights - Liven Kodu 12 OÜ, a subsidiary of Liven AS, has signed a general contractor agreement with Mitt & Perlebach OÜ for the construction of residential buildings in phase II of the Luuslang project, with construction set to begin on August 1, 2025 [1][2] Group 1 - The construction will include four-storey residential buildings located at Jalami 6/1 and Jalami 6/2 in the Astangu neighbourhood of Haabersti [1] - A total of 39 new homes are expected to be completed by autumn 2026, alongside the reconstruction of the street and sewerage system on Astangu Street [2] - The total basic amount for the construction works is EUR 5.0 million plus VAT, with 15 out of the 39 homes, or 38%, already sold [2] Group 2 - By the end of 2023, 80 homes from phase I of the Luuslang project were completed, and future phases will include the construction of an additional 105 homes and a single-storey commercial building for catering use [3] - Kadarik Tüür Arhitektid OÜ is the architect responsible for the design of the residential buildings [3]

Core Viewpoint - The new residential project Chaotang Lanyue in Tongzhou has successfully attracted a significant number of young commuters from Chaoyang due to its favorable location and the recent lifting of purchase restrictions in Tongzhou, leading to increased sales velocity and volume in the area [1][5]. Group 1: Market Dynamics - The lifting of dual purchase restrictions in Tongzhou has brought back a large number of first-time homebuyers, particularly young commuters from Chaoyang, who prefer new homes over second-hand options [1][5]. - Projects like Yunqing Lanyue, Huaxi Yunjin, and Guoyu Song have seen good sales performance, with Yunqing Lanyue being particularly successful due to its tailored offerings for the target demographic [1][5]. - The 69 square meter unit in Chaotang Lanyue has been fully subscribed, indicating strong demand for smaller, affordable units [1]. Group 2: Product Analysis - The 86 square meter unit in Chaotang Lanyue faces competition from similar products in the market, which may dilute its perceived uniqueness [3]. - The appeal of the 69 square meter unit lies in its cost-effectiveness rather than its overall product quality, raising questions about long-term value retention [7][13]. - The design of the 69 square meter unit, while functional, may feel cramped as family needs evolve, highlighting the importance of considering future living requirements when purchasing [10][13]. Group 3: Location and Future Prospects - The location at the intersection of Chaoyang and Tongzhou presents both opportunities and risks, as the area is subject to varying development speeds and potential planning issues [15]. - The ongoing infrastructure investments in Tongzhou, particularly in the Yungang Business District, are expected to enhance the area's attractiveness and property values over time [15]. - The long-term viability of properties in this transitional area will depend on their liquidity and the ability to sell at favorable prices in the future [15].

Company Overview - Hepsor AS is a developer of residential and commercial real estate operating in Estonia, Latvia, and Canada [3] - The company has created 2,076 homes and nearly 36,300 square meters of commercial space over fourteen years [3] - Hepsor is recognized as the first developer in the Baltic States to implement innovative engineering solutions for energy-efficient and environmentally friendly buildings [3] - The company has a portfolio of 25 development projects totaling 172,800 square meters [3] Share Capital Increase - On 8 July 2025, the Supervisory Board of Hepsor AS decided to increase the share capital by €57,821 related to the acquisition of a 20% stake in Hepsor Latvia OÜ from Hugomon OÜ [1] - The share capital increase was registered in the Commercial Register on 17 July 2025, bringing the total registered share capital to €3,912,522, divided into 3,912,522 shares with a nominal value of €1 [2] - The company plans to submit an application for the admission to trading of the new shares on the main list of the Nasdaq Tallinn Stock Exchange [2]

Core Insights - The net asset value (NAV) of EfTEN United Property Fund units increased by 1.3% month-on-month, reaching 11.17 euros at the end of June [1] - The fund reported a net profit of 358 thousand euros in June and a total net profit of 1.679 million euros for the first half of 2025, compared to 401 thousand euros during the same period last year [1] Group 1: Profit Sources - The largest profit in June was generated from the investment in Invego Uus-Järveküla OÜ, amounting to 384 thousand euros [2] - The transfer of 14 terraced houses in the third stage of development contributed a profit of 479 thousand euros [2] - The development company's bank loan balance was reduced to zero by the end of June due to the repayment obligation associated with property rights agreements [2] Group 2: Asset Valuation - A regular valuation of the EfTEN United Property Fund assets was conducted at the end of June, revealing a decrease in the value of the former Danske bank office building and Menulio 7 office building [3] - The value of properties under EfTEN Kinnisvarafond II AS increased, balancing the overall valuation impact [3] - The Kristiine shopping center's value remained unchanged, with its financial results exceeding planned EBITDA by 5% for the first half of the year [3]

Core Viewpoint - The implementation of the housing ticket policy in Jiading District marks a significant step in Shanghai's efforts to innovate housing relocation methods, combining physical, monetary, and housing ticket options to facilitate urban development and improve housing market dynamics [2][3][4]. Group 1: Policy Implementation - The Jiading District housing ticket policy took effect on July 1, 2023, making it the third district in Shanghai to adopt this model after Jinshan and Qingpu [2][6]. - The policy applies to existing commodity housing within the district, with 14 local developments included in the "housing source supermarket," offering 3,139 units for selection at prices ranging from 26,700 to 58,500 CNY per square meter [2][4]. Group 2: Housing Ticket Mechanism - The housing ticket serves as a settlement voucher issued to those affected by land acquisition, allowing them to purchase homes within designated "housing source supermarkets" [4][5]. - The tickets are non-transferable and can be split for use, with the ticket value needing to cover at least 50% of the total purchase price of the selected property [5]. Group 3: Market Impact and Future Outlook - Analysts believe that the housing ticket policy will accelerate the relocation process, enhance urban development, and facilitate the absorption of existing housing stock, thus positively impacting the real estate market [2][8]. - The policy is expected to expand further in Shanghai, with potential implications for urban village renovations and the overall housing market dynamics in major cities [8].

Core Viewpoint - The article discusses the recent revival of several "stalled" real estate projects in Guangzhou, highlighting the city's efforts and strategies to address the issue of unfinished buildings and the potential for these projects to be revitalized [1][15]. Group 1: Revival of Stalled Projects - The "Rui Fu" project in Huadu District has been approved for development, with plans for 14 residential buildings and a kindergarten, marking a significant turnaround from its previous status as a stalled project [4][6]. - The "Jia Chuang Sheng Hui" underground commercial project, which has been inactive for over three years, is now listed for auction with a starting price of approximately 3 billion, indicating a potential revival [7]. - The "Yue Ken Green Garden," which has been stalled for over 20 years, has completed exterior renovations and is expected to be available for occupancy soon [9]. Group 2: Government Initiatives - The Guangzhou government has been actively addressing the issue of stalled projects for over 20 years, implementing various strategies and policies to revitalize these developments [16][17]. - Since 2003, the government has introduced measures to manage and revitalize stalled projects, with over 80% of such projects successfully transformed into commercial complexes or residential areas [17]. Group 3: Developer Strategies - Developers are seeking new avenues for project completion, with some actively pursuing partnerships and investments to revive stalled projects, as seen with the "Xu Hui Guang Yu Nan Fang" project [19]. - Large developers with substantial financial resources and experience are crucial in reviving stalled projects, as they can address debt issues and re-strategize project positioning [22].

今天，三亚上架了2025下半年的第一块宅地《三亚中央商务区东岸单元DA02-29-05A/B地块》，靓得有点过分！ 先说数据： 这是2019年成都万华以近6个亿拿下商业用地，后被三亚回购再上架。 4月，刚刚调整规划，从100%的商用地摇身一变100%的宅地，加价1.8亿再上架，与华侨城地块如出一辙，但调整的标准高太多了！ 这妥妥的三亚市中心洋房社区，早已绝版的产品，实在令人眼红心跳。 容积率仅1.5，限高24m，地块方正，土地基地素质极佳； 占地面积32647.03㎡（约49亩），起拍价约7.8亿，初始楼面价约1.6万/㎡。 来百度APP畅享高清图片 前不久华侨城回锅拿下的DA02-17-01的容积率是3.0，限高80，这么一对比今天的新地看起来就更加眉清目秀了！ 看楼Sir除了专业还得吃瓜，咱们来回顾一下这块DA02-29-05A/B地块的前世今生。 地块位于三亚中央商务区的东岸单元，商业、湿地配置拉满； 至于谁拿嘛，在出让手册里暗示得很明显。 竞拍人条件有以下几点： 1、本次挂牌出让宗地现状为基坑，需预先对项目场地进行大面积基坑支护和地基处理，成本由竞得人承担。 同时，竞得人需为政府无偿配建三亚中央商务区 ...

The CEO of Italian real estate developer Coima faces questioning as part of a broad probe of alleged corruption in Milan property developments https://t.co/HBJhF0DUtG ...

Investment Rating - The report indicates a modest property easing expectation for the second half of the year and beyond, aligning with incremental policy support rather than a large-scale stimulus similar to the 2015-2018 period [1][2][8]. Core Insights - The Central Urban Work Conference (CUWC) outlined key policy priorities for urban development, including urbanization facilitation, innovation encouragement, urban village renovation, a new real estate development model, improved urban infrastructure, and a green transition [1][2]. - The report suggests that the previous cash-backed shantytown redevelopment program is unlikely to be repeated due to reduced fiscal easing space, recognition of past housing boom costs, and persistently low urban housing demand [3][8]. Summary by Sections Policy Priorities - The CUWC emphasized urbanization, innovation, urban village renovation, a new real estate model, enhanced urban infrastructure, and green transition as critical areas for future development [1][2]. Property Market Outlook - The report anticipates modest property easing, with expectations for further mortgage rate reductions and targeted policy support for urban infrastructure and housing inventory purchases [8]. - It is projected that urban housing demand may remain below 5 million units per year for the foreseeable future, influenced by demographic trends and previous market speculation [7][14]. Economic Context - With H1 real GDP growth averaging 5.3% year-on-year, there is no immediate need for broad-based stimulus, leading to expectations of targeted easing measures to address property market downturns and labor market pressures [8].

Property sales recorded a deeper y-y decline in June as expected, despite improved constructions. We stay cautious on the physical market and expect the weak sales trend to continue in 3Q given worsened resident sentiment, more secondary inventory, and reactive policy. June property sales recorded a wider decline: Rebased national sales were -10.8% y-y in value and 5.5% y-y in volume, widening the 6M25 decline to -5.5% in value and -3.5% in volume y-y. NBS 70-city home prices continued to edge down, -0.3% a ...