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Zhu Min decided to put her three-bedroom apartment on the market two months ago. She had inherited the aging first-floor unit from her grandparents and felt it was time to trade it in for a newer, higher-floor unit, away from the noise and exhaust of bustling Chengdu, one of China’s biggest and fastest-growing cities.To get more China real estate news, you can visit shine news official website.
She got an agent through the country’s leading real-estate brokerage, Lianjia, who agreed to help her sell her apartment and hunt for a new one. Within a day, Lianjia sent a photography team to Zhu’s apartment, took panoramic footage that was uploaded to allow virtual “walkthroughs” of the apartment. Zhu was impressed with how realistic the digital viewing was.
“I’ve lived here for five years, and it was pretty much like actually being in my apartment,” she said of the virtual-tour experience. The next week she was busy showing the place to a stream of prospective buyers. She and one of them began haggling over the sales price.Few sectors have escaped the impact of the epidemic, which has brought China’s economy to a standstill. But the blow to some industries has been cushioned by an ability to continue business online.
Within China’s property market, a number of popular apps offer everything you’d need to find and buy a house — search functions with easy-to-use selection criteria such as location, price and unit type; realistic virtual-tour experiences; the ability to chat with agents and sellers; a section showing how “hot” properties are with real-time updates on how many people have viewed units; and even mortgage services.
Industry insiders were hopeful the rich digital experience would translate into at least some online sales. Buying a home is obviously a much bigger commitment than purchasing a microwave from Amazon AMZN, +2.08% , but Tesla TSLA, +4.43% has proven that customers are willing to plunk down sizable sums for items with which they may have no firsthand experience.
Xiao did hear of one exception — with a colleague at a different Lianjia branch in the city closing a sale without the buyer ever seeing the property in person. “But word is that the buyer is rich and this is just a second or third property as an investment,” Xiao said.
Newly released data show just how deep sales declines have been. New-home prices rose at their slowest pace in two years in January, due in large part to the standstill at the end of the month as the severity of the epidemic became apparent.
Prices for new homes inched up 0.27% from December to January in 70 big cities, China’s National Bureau of Statistics said. Sales of new and existing homes plummeted 90% from the same period of 2019, according to a survey by China Merchants Securities. A survey by Huatai Securities put that number closer to 98%.
February data are expected to be worse, as numerous cities have been put under lockdown, showrooms for many agencies were ordered closed, and potential buyers have been either unable or unwilling to view properties.
As with other sectors of China’s slowing economy, the hit to the property market comes as the industry was already experiencing pain. In an attempt to reduce a property bubble and rein in speculation, the government last year implemented measures to cool the market by restricting multiple-home purchases and tightening mortgage access.
Case goods and upholstery resource Lifestyle Enterprise is bringing its Forbidden City concept here next month with a new 35,000-square-foot showroom it will open at the JSWB Global Home Furnishings Center.To get more lifestyle news shanghai, you can visit shine news official website.
The company announced that the three-story space Global Forbidden City Showroom will open Sept. 9-10 for a two-day invitation-only event. This is expected to draw as many as 500 guests, the company said.Two floors of the new showroom will feature upholstery and a third will offer case goods.
The private show is similar to Forbidden City shows in both High Point and Las Vegas. However, while those shows are geared primarily to the U.S. market, the new showroom targets Chinese and international buyers.Company officials said the new showroom also will be open to the trade on a year-round basis.
"Lifestyle is betting on Shanghai, which it believes will be the future of home furnishings sourcing in Asia," said Simon Siow, chief operating officer. "When retailers worldwide are looking to source Asian furniture, they will look to China and Shanghai as the first point of entry. The Shanghai showroom will serve as a permanent showroom that opens year round and features all new products fresh off the production line."The JSWB furniture complex first opened in 2007 with more than 200 brands and spanning about 2 million square feet of showroom space that is open to the public most of the year. The second phase of the three-phase project will include new components including a lighting center, a solid wood furniture pavilion and a mahogany furniture pavilion, JSWB said on its website.
Lifestyle Enterprise also has a separate showroom at the Sept. 11-15 China International Furniture Expo in Shanghai. Located at the Shanghai New International Expo Center, this is about a 45-minute drive from the JSWB complex.
Lifestyle said is working with JSWB to provide shuttle service every 30 minutes from the Furniture China show to the new Forbidden City showroom at JSWB.Lifestyle also will host a welcome party at the new Forbidden City showroom from 5 p.m. to 9 p.m. on Sept. 9.
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Green walls and vertical gardens are slowly making their way up the ladder, becoming more popular by the day. Architects are constantly learning how to make nature a part of their designs and they come up with all sorts of extraordinary ideas and concepts. Some of the projects we’ll show you have already been fulfilled and are currently enjoyed while others are still concepts waiting to become reality. They’re all magnificent and very inspiring and hopefully they’ll give you some ideas regarding your own home or community. Get ready to be mesmerized.To get more news about stainless steel green facade, you can visit mesh-fabrics.com official website.
Atlas Hotel Hoian preserves the magical charm of the once peaceful Old Town in Quang Nam, Vietnam. The area received the title of World Heritage Site and this started a chain reaction which transformed the Old Town area into a tourist attraction, causing most of the old houses to be converted into shops and restaurants and some of the buildings to become hotels. The area is known for its beautiful roof gardens and interior courtyards and the Atlas Hotel completes the image with its wonderful balcony gardens. It was a project by Vo Trong Nghia Architects.
There are quite a few plans for building amazing green buildings with majestic gardens. One of them is the Sky Villa project by Penda. It’s the second stage of the Magic Breeze project. The plans are for a series of stacked villa to be built in Hyderabad, India. The villas would have terrace gardens on each level and they’d take the green gardens above tree canopies.
There’s also a plan to build the world’s tallest residential vertical garden. It’s a project developed by Milroy Perera Associates in collaboration with Maga Engineering for the area of Rajagiriya in Sri Lanka. The structure will be a tower of 164 apartments organized on 46 floors and it will have a self-sustaining watering system.
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Technology stocks also rose strongly into the extended US holiday weekend, with the Nasdaq 100 index recording a 1.82% rally. Elsewhere, the small-cap Russell 2000 index gained 1.50%, while the Dow Jones Industrial Average (DJIA) climbed 0.52%. The US Dollar weakened against most major G10 peer currencies.
Thursday marked the end of the trading week for the United States, with stock markets set to reopen on Monday following the Easter holiday. Bond markets, however, will see a shortened trading day on Friday. Speaking of bond markets, Treasuries saw buying across most tenures except the 2-year. The benchmark 10-year yield fell 4.15%.
The US government bond market recorded its worst loss in years, particularly in long-dated Treasuries. The iShares 20+ Year Treasury Bond ETF – composed of bonds with a maturity over 20 years – saw a violent 14.83% decline in the first quarter. The roiled Treasury market will likely remain in focus going forward as investors remain doubtful that the Fed wont prematurely raise rates amid a stimulus-fueled domestic economy that continues to heat up.
The Asia-Pacific session is set to be a bit quieter than usual with closed markets in Australia and New Zealand for the Good Friday holiday. Australia’s ASX 200 gained 0.56% on Thursday to kick off the second quarter. Equity markets across the rest of the APAC region also gained. Market sentiment received a boost after US President Joe Biden outlined his infrastructure plan early Thursday when the US leader called for a $2.25 trillion investment in roads, bridges, airports, and green energy infrastructure.
The Australian Dollar is moving higher on broader Greenback weakness. AUD/USD initially was moving lower on Thursday, threatening to break below a key support level from a Head and Shoulders pattern, but subsequently shifted higher later in the session. The move higher comes despite a worse-than-expected trade report out of Australia that showed weakness in exports.
Friday‘s economic event calendar is void of high- and medium-impact events, according to the DailyFX Economic Calendar. Thailand will see business confidence and unemployment data cross the wires, while India will release its foreign exchange reserves for the week ending March 26. While US markets are closed tomorrow, traders will have a close eye on the highly-anticipated non-farm payrolls report, with the consensus estimate slated to print at 647k, which would nearly double the prior month’s figure.
S&P 500 TECHNICAL OUTLOOK
The S&P 500s break above the 4,000 level saw prices rise above the upper trendline of a Rising Wedge pattern. While technically a bearish pattern, the break above resistance highlights the underlying strength in US markets. And now, with a full retracement of the last leg lower, the 161.8% Fibonacci retracement shifts into view at the 4,064 level.
Alternatively, a move back into the wedge could be viewed as a bearish development. However, given the broader trend higher, any pullback will likely be transitory. The Relative Strength Index (RSI) is showing some bearish divergence, although the MACD oscillator is trending higher, pointing to healthy momentum.
US dollar index (DXY) stays on the back foot below 93.00, near 92.90 by the press time, as the US 10-year Treasury yield remains pressured close to 1.67%. Its worth mentioning that the key bond coupon dropped the most in five weeks the previous day and favored USD bears.
While searching for catalysts, global ire over the conviction of veteran Hong Kong Activists and the coronavirus (COVID-19) vaccine chatters from the US should have played their role.
US Depart of Statement condemned the arrests of key democratic personalities in Hong Kong while the Senate Majority Leader Mitch McConnell pushed Biden Administration to gather international support to take punitive actions against China due to the said instance.
Elsewhere, US health expert Dr. Anthony Fauci said that the US may not need the AstraZeneca vaccine even if it gets regulatory approval for usage. The news renewed vaccine jitters as the Anglo-Swedish vaccine is among the top covid cure.
Its worth mentioning that the S&P 500 Futures print mild gains, following the Wall Street benchmarks, whereas stocks in China and Japan portray aftershocks of the US infrastructure spending announcement.
Although off in Australia and New Zealand challenges NZD/USD traders the most, Chinas active day, amid tension surrounding Hong Kong, can entertain the pair traders. However, nothing line the US employment data, up for publishing at 12:30 GMT.
Read: US Nonfarm Payrolls March Preview: Optimism and evidence this time？
Technical analysis
A daily close beyond 0.7030, comprising late December lows, becomes necessary for NZD/USD bulls to attack early March bottom surrounding the 0.7100 threshold.