Tag Archives: Overseas Property

It’s just small home projects now – if at all

Posted on 26 Aug 2009 | Comments Off on It’s just small home projects now – if at all

In pre-recession days, home improvement projects were usually grand, expensive overhauls of kitchens and bathrooms.

In this economy, home improvement projects consist of painting the walls and replacing the jiggly toilet handle.

‘I’m not doing any major projects anymore,’ Steve Miller said as he shopped for putty knives last week at a Lowe’s in a suburb of Chicago, ‘but just fixing what I’ve got.’

For months, Mr Miller, 51, had been planning to give his kitchen and bathrooms a facelift. ‘Then the economy got bad, and I don’t want to run up any more credit,’ he said.

While the recession has caused consumers to pull the plug on exorbitant renovations, it has sparked a resurgence of small, do-it- yourself (DIY) Continue reading →

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China property sales leap 60% in first 7 months

Posted on 11 Aug 2009 | Comments Off on China property sales leap 60% in first 7 months

Concern over asset bubbles brought on by record lending

China’s property sales surged 60 per cent in the first seven months amid concern that record lending will stoke asset bubbles in the world’s fastest-growing major economy.

The gain in the value of sales, announced by the statistics bureau on its website yesterday, compares with a 53 per cent increase in the first half from a year earlier. Real estate investment accelerated to 11.6 per cent growth from 9.9 per cent, the agency said.

Home prices in 70 major cities gained one per cent in July from a year earlier, the biggest increase in nine months, the National Development and Reform Commission (NDRC) said yesterday in a separate statement.

Premier Wen Jiabao reiterated on Sunday that monetary policy will remain unchanged, after climbing asset prices triggered speculation Continue reading →

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