BOCA RATON, FL, June 23, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the "Company"), the first US public company with a treasury strategy built to accumulate and compound Solana ("SOL"), today announced a landmark partnership with Kraken to list the tokenized stock of its publicly traded equity on the Solana blockchain. As part of the xStocks alliance, Kraken is partnered with Backed and Solana to offer tokenized equities on the Kraken platform. Through this partnership, DFDV joins the i ...

Investment Rating - Industry view is rated as In-Line [9] Core Insights - Property sales and home prices are expected to continue declining in the third quarter due to high secondary inventory and weakening resident sentiment [1] - Quality state-owned enterprises (SOEs) with good visibility are recommended for investment, with CR Land identified as a top pick [1][2] Monthly Property Sales - Home sales in 65 cities saw a year-on-year decrease of 11% in primary sales volume and a 5% decrease in secondary sales volume [3] - Year-to-date growth for primary sales is now at 0.1% and 13% for secondary sales as of May 2025 [3] Property Prices - Primary home prices in 70 cities dropped by 4.1% year-on-year and 0.2% month-on-month, while secondary home prices fell by 6.3% year-on-year and 0.5% month-on-month [4] - In top-10 cities, secondary prices decreased by 5.4% year-on-year, and in top-100 cities, they fell by 7.2% year-on-year [4] Secondary Market - Listing volume for secondary properties increased, with new listings up by 6% year-on-year but down 11% month-on-month [5] - Client visits to properties increased by 20% year-on-year and 3% month-on-month [5] Inventory - Primary inventory levels in tracked cities remained stable at 23.4 months, with tier 1 cities decreasing slightly to 14.2 months [6] Land Market - Land sales in 300 cities decreased by 13.8% year-on-year in gross floor area (GFA) but increased by 17.8% in value [7] - The year-to-date decline in land sales is now at 6.4% in GFA [7]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Major Chinese automakers have pledged to make payments to suppliers within 60 days amidst a severe price war, which is expected to alleviate liquidity pressures in the industrial chain [3][8] - Local governments have started to utilize special bonds to repay arrears to businesses, indicating a proactive approach to improve business liquidity [4][8] - The property sector is receiving increased policy support, focusing on urban renewals and affordable housing, as recent activity data showed declines in new home sales and property investment [9][10] Summary by Sections Automotive Industry - With US-China trade tensions stabilizing, the focus has shifted to domestic issues, particularly in the auto sector where price competition remains intense, leading to falling prices but higher volumes [2] - Automakers have faced liquidity pressures due to delayed payments and demands for price cuts exceeding 10% from suppliers [2][3] - The average accounts payable turnover days for 12 listed Chinese automakers exceeded 170 days, peaking at 248 days, with accounts payable and notes payable accounting for 46.2% of total liabilities [3] Local Government Financial Measures - By the end of 2024, the accounts payable of bond-issuing local government financing vehicles (LGFVs) stood at approximately RMB3.1 trillion, accounting for 9% of LGFV's short-term debt [4] - Hunan province issued RMB20 billion in special bonds to settle local government arrears, marking a significant step in using special local government bonds for this purpose [4] Property Sector - The property sector is under pressure, with new home sales and property investment declining by 4.6% and 12% year-on-year, respectively [9] - Premier Li Qiang announced plans to optimize policies to boost demand and stabilize the property market, with a focus on urban renewal and affordable housing [9][10] - In the first five months of the year, 16.4% of new local government special bonds were allocated to property-related projects, compared to 8.6% in 2024 [10]

Company Overview - The Real Brokerage Inc (NASDAQ: REAX) is a real estate company founded in 2014, operating across almost all of the United States and four Canadian provinces [1] Analyst Background - The author of the article is a financial journalist with over 10 years of experience in communications and has worked for various economic institutions [1] - The author also runs a podcast called Storiopolis, focusing on the history of finance [1] Market Position - The company is positioned not just as a real estate entity but also as a personal investment opportunity, indicating a broader perspective on its market role [1]

Core Insights - The Australian housing market is experiencing varied growth rates across different cities, with Perth showing significant strength in property prices, surpassing Melbourne for the first time in a decade [2][3]. Group 1: Housing Market Overview - The PropTrack Home Price Index indicates that national home prices increased by 0.39% month-on-month and 4.12% year-on-year, with a median value of AUD 2,011,530 [1]. - Sydney's median home value is AUD 1,124,000, with a monthly growth of 0.39% and an annual growth of 2.70% [1]. - Melbourne's home prices increased by 0.79% month-on-month but remain 2.85% below their peak in 2022, with a median value of AUD 782,000 [2][6]. Group 2: Perth's Market Dynamics - Perth's median home price has reached AUD 787,000, marking a significant increase driven by structural and cyclical factors, including affordability and population growth [2][3]. - The city has seen a remarkable 85.3% increase in home prices since March 2020, reflecting a strong recovery from previous lows [1]. - Perth's rental market is currently one of the tightest in Australia, with historically low vacancy rates and rapidly rising rents, attracting investors seeking capital appreciation and strong rental returns [5][9]. Group 3: Melbourne's Challenges - Melbourne faces challenges with slowing population growth and weakened price momentum, having the lowest price growth among major cities over the past five years, at less than 20% [6]. - The state of Victoria has the highest property taxes in Australia, which, combined with rising costs from new rental legislation, is leading many landlords to sell investment properties [7]. Group 4: Supply and Demand Factors - Western Australia's population growth has turned positive during the pandemic, with significant net interstate and overseas migration, putting pressure on housing supply [3]. - New housing supply is lagging behind demand due to high construction costs and labor shortages, exacerbating competition and driving up prices [3][9].

Group 1 - The core issue in the Australian real estate market is that single buyers are facing increasing pressure, with only 16% of regions being affordable for the average Australian to purchase a detached house [1] - In the apartment market, single buyers can only afford approximately 28% of regions, a significant drop from 66% in 2017 [2] - The affordability crisis has led to a notable decrease in the proportion of single buyers among first-time homebuyers, dropping from 45% in 2021 to 39% in 2025 [2] Group 2 - In New South Wales, the situation is particularly dire, with the percentage of regions affordable for single buyers of detached houses plummeting from 40% in 2017 to just 11% by 2025 [2] - South Australia has seen a dramatic decline in affordability, with the percentage dropping from 85% in 2017 to 19% in 2025 [2] - Finder's personal finance expert, Sarah Megginson, emphasizes that buying a home is now more challenging than ever, especially for those attempting to purchase without partner or family assistance [5][6] Group 3 - The expectation of interest rate cuts before Christmas may alleviate some pressure on current mortgage holders, but it could make entry into the market even more difficult for new buyers [8] - Increased demand in affordable markets is anticipated, which may further drive up entry-level property prices, exacerbating the challenges faced by first-time buyers [8]

Investment Rating - Industry view is rated as In-Line [9] Core Insights - Property sales and home prices are expected to continue declining in the third quarter due to high secondary inventory and weakening resident sentiment [1][2] - Quality state-owned enterprises (SOEs) with high visibility are recommended for investment, with CR Land identified as a top pick [1][2] Monthly Property Sales - Home sales weakened further, with primary sales volume in 65 cities down 11% year-on-year and secondary sales volume in 33 cities down 5% year-on-year [3] - Year-to-date growth for primary sales is now at +0.1% year-on-year, while secondary sales are at +13% year-on-year for the first five months of 2025 [3] Property Prices - Housing prices are declining at an accelerated rate, with primary home prices in 70 cities dropping 4.1% year-on-year and secondary home prices down 6.3% year-on-year [4] - The decline in secondary prices for the top 10 cities is 5.4% year-on-year, while for the top 100 cities, it is 7.2% year-on-year [4] Secondary Market - Listing volume continues to increase, with secondary listing prices down 8.1% year-on-year [5] - New secondary listings increased by 6% year-on-year but decreased by 11% month-on-month due to seasonality [5] Inventory - Primary inventory levels in tracked cities remained stable at 23.4 months, with tier 1 cities decreasing slightly to 14.2 months [6] Land Market - Land sales in 300 cities decreased by 13.8% year-on-year in gross floor area, while the value increased by 17.8% year-on-year [7] - The year-to-date land sales decline in gross floor area is now at -6.4% year-on-year [7]

Economic Overview - In early 2024, China's economy shows steady growth with GDP reaching 949,746 billion yuan, a year-on-year increase of 4.8%, significantly higher than most countries globally [1] - Despite the positive GDP figures, there are underlying concerns such as weak national income growth, sluggish consumer demand, a persistently depressed real estate market, and a slow recovery of the real economy [1] Real Estate Market - Since 2022, national housing prices have been on a downward trend, with average declines exceeding 30% from peak levels, starting from second and third-tier cities and spreading to first-tier cities like Shanghai and Shenzhen [3] - Government policies aimed at stabilizing the market have had limited impact, and housing prices are expected to stabilize with a slight decline, ultimately aligning with residents' income levels and returning to their fundamental residential attributes [3] Banking Sector - Bank deposit rates have been continuously lowered since 2024, with the latest adjustment reaching 25 basis points, significantly higher than the usual 10-15 basis points [5] - This trend reflects banks' strategies to manage surging deposits by stimulating investment and consumption among residents while reducing financing costs for businesses and homebuyers [5] Employment Landscape - The job market for university graduates has become increasingly challenging, exacerbated by the pandemic's impact on businesses and a shrinking recruitment demand [7] - The number of graduates is on the rise, with 11.79 million expected in 2024 and an increase to 12.22 million in 2025, leading to a significant supply-demand imbalance in the job market [7] Demographic Trends - The birth rate in China has been declining since the peak of 17.56 million newborns in 2017, dropping to 9.03 million in 2023, a decrease of over 40% [10] - The first half of 2024 saw only 4.33 million newborns, with projections indicating the total for the year will remain below 9 million, driven by high living costs, child-rearing expenses, and low willingness to have children [10] Rural-Urban Migration - There is a notable trend of rural workers returning to their hometowns, driven by high urban living costs and intense job competition, prompting a reevaluation of the rural-urban development gap [12]

Core Insights - YY Group Holding Limited has acquired a 53% stake in Transocean Oil Pte. Ltd.'s property investment division, marking its entry into the property investment sector and expanding its portfolio in Singapore's real estate market [1][2][3] Strategic Significance - The acquisition aligns with YY Group's growth strategy, capitalizing on Singapore's real estate market, which is projected to grow at an annual rate of 6.5% from 2025 to 2030 [3] - CEO Mike Fu emphasized that adding premium properties enhances investor confidence and strengthens the company's business [3] Market Impact - Transocean's properties provide flexibility for internal use or rental income, supporting YY Group's focus on sustainable growth [4] - The property investment arm will generate rental income and benefit from rising property values [4] Operational Plans - Transocean's operations will integrate into YY Group's framework, with a dedicated team ensuring high-quality service delivery [5] - The 24iFM app will be leveraged to enhance client experiences, and the Group is open to exploring further opportunities in Singapore's property market [5] Revenue and Growth Potential - In 2024, Transocean's properties generated S$223,000 from three commercial units, and YY Group's controlling interest positions it for long-term gains and strategic growth [6] Enhancing Stakeholder Value - The acquisition demonstrates YY Group's commitment to diversifying its portfolio and strengthening its position in the property investment and integrated facility management industries [7] - This move aims to improve services and advance the 24iFM application, addressing clients' needs more effectively [7]

Financial Performance & Guidance - DHC's Q1 2025 total revenues reached $386.9 million[12] - The company reported a net loss of $9 million, equivalent to $0.04 per share[12] - Normalized FFO stood at $14.3 million, or $0.06 per share[12] - DHC anticipates SHOP NOI to range between $120 million and $135 million for 2025[9] - Medical Office and Life Science NOI is projected to be between $104 million and $112 million[9] - Triple Net Leased (NNN) NOI is expected to be in the range of $29 million to $31 million[9] SHOP Initiatives & Performance - SHOP same property NOI increased by 42.1% year-over-year, driven by a 6.5% increase in same property revenue[12] - This revenue growth is attributed to a 110 bps increase in occupancy and a 4.5% increase in average monthly rate[12] - SHOP occupancy grew to between 82% and 83%[12] - SHOP margins are expected to improve by 200 bps to 400 bps[12] Capital Recycling & Dispositions - DHC estimates disposition proceeds of $680 million to $730 million[12] - As of May 16, 2025, $337 million in dispositions had been completed year-to-date[12] - An additional $330 million to $380 million in dispositions are in various stages of marketing, including $110.5 million under agreements or letters of intent[12,33]