Foreign Property News | Posted by Aye Myat Thu
Chinese tech firm LeEco has put a Beijing shopping centre up for auction on Chinese e-commerce platform Taobao. Experiencing financial difficulties, yet determined to uphold its online trading practices, the firm has listed the 50,000sqm Beijing Shimao Gongsan Plaza at a reserve of RMB2.3 billion (US$334 million). The move follows legal action by mortgagor China Citic Bank against LeEco for failing to meet repayment obligations. The auction opens on Taobao’s distressed asset channel, which saw an 88 per cent rise in listings in October against the backdrop of China’s enormous bad debt market. Under supervision of the courts, the auction will start on January 7 at 10 am and...
Foreign Property News | Posted by Si Thu Aung
A wave of protests by Chinese homeowners against falling property prices in several cities has raised fears of a downturn in the country’s real estate market, adding to pressure on Beijing to stimulate the economy. Homeowners in Shanghai and other large cities took to the streets this month to demand refunds on their homes after property developers cut prices on new properties to stimulate sales. In Shanghai, dozens of angry homeowners descended on the sales office of a complex that offered 25 per cent discounts to demand refunds, causing clashes that damaged the sales office, according to online reports that were quickly removed by censors. Similar protests have been reported in...
Foreign Property News | Posted by Aye Myat Thu
Villa Passalacqua, which totals 20 bedrooms, was once asking €100 million and now has a reserve price of €20 million. Italy’s Lake Como has been an "it" destination for centuries, and Villa Passalacqua in the nearby village of Moltrasio is one of its historic hot spots. Luminaries from all over Europe have visited the villa over the years, including Napoleon Bonaparte, Winston Churchill and the Italian opera composer Vincenzo Bellini. Now the 18th-century abode, once listed for €100 million (US$114.75 million), is being auctioned off on Oct. 30 by Concierge Auctions with a reserve price of €20 million. "This auction is truly a once-in-a-lifetime opportunity...
Local Property News | Posted by Zarni Kyaw
က်ပ္သန္းေပါင္း သံုးသိန္းခြဲတန္ဖိုးရွိ အစိုးရေငြတိုက္စာခ်ဳပ္မ်ားကို မတ္လ ၂၀ ရက္ (ယေန႔) တြင္ ေလလံတင္ေရာင္းခ်မည္ျဖစ္ေၾကာင္း ျမန္မာႏိုင္ငံေတာ္ ဗဟိုဘဏ္ထံမွ သိရသည္။ အဆိုပါေရာင္းခ်မႈသည္ ယခုဘ႑ာႏွစ္အတြက္ ေနာက္ဆံုး ေရာင္းခ်ျခင္းျဖစ္ၿပီး ယခင္လထက္...