Latest news with #propertydevelopers
ABC News
3 days ago
- Business
- ABC News
ACT Government Architect insists missing middle housing proposal 'democratic'
ACT Government Architect Catherine Townsend says proposed changes to planning rules allowing denser development in Canberra's suburbs are as focused on helping "mums and dads" as investors as they are on big property developers.
Bloomberg
3 days ago
- Business
- Bloomberg
Why Property Giant New World's Debt Woes Have Hong Kong on Edge
By and Pearl Liu Save Bankers in Hong Kong are on edge as New World Development Co., one of the city's top real estate developers, attempts to pull off an HK$87.5 billion ($11.2 billion) refinancing deal by the end of the month. Once among the most deep-pocketed property giants in the city,New World has faced mounting liquidity pressure over the past couple of years. Its net debt reached 96% of shareholder equity at the end of 2024, according to Bloomberg Intelligence, making it one of the most leveraged developers in Hong Kong.
Reuters
19-05-2025
- Business
- Reuters
China property investment falls 10.3% y/y in January-April
BEIJING, May 19 (Reuters) - Property investment in China fell 10.3% in the first four months of 2025 from a year earlier, following a drop of 9.9% in the first quarter, official data showed on Monday. Property sales by floor area shrank 2.8% in January-April from the previous year, after declining 3.0% in the first three months. New construction starts measured by floor area were down 23.8%, versus a 24.4% slump in January-March. Funds raised by China's property developers fell 4.1%, following a 3.7% drop in the first quarter.
Yahoo
11-05-2025
- Business
- Yahoo
China's Property Market Is a Tale of Big Cities. Everywhere Else Is Struggling.
Big cities like Beijing and Shanghai show signs of recovery while smaller regions are dealing with oversupply and weak demand, highlighting China's real estate challenges.
RNZ News
09-05-2025
- Business
- RNZ News
Inland Revenue discovers millions in unpaid tax from property developers and investors
The largest discrepancies were from developers and GST bills. Photo: 123RF Inland Revenue (IR) says the property sector failed to pay at least $150 million in tax in the first nine months of the current financial year. The department said it had found more than $150m in undeclared income tax and GST. It had been looking at the tax affairs of developers, property investors and people whose sales were captured by the bright-line test. The largest discrepancies were from developers and GST bills. The $153.5m discrepancy is about the same as the amount found in the whole of the year before. IR said there was a pattern of property developers claiming significant tax refunds when they incurred costs, but not paying tax when the properties sold. "Where we expect a GST payment from a property sale and we don't see the sale in the return, we contact the developer to make enquiries. If there is no response or no return filed, we will take enforcement action quickly. "In the financial year to date we've found $72,937,921.00 in discrepancies from developers - a 48 percent increase on the same time last year." IR said it had been running a campaign helping people understand their obligations under the bright-line rules. "We're telling people that if they've sold a property recently, they should check the property tax decision tool and work out if they need to pay tax. So far this year IR has helped more than 550 customers with bright-line issues and processed $3.68m in voluntary disclosures. "The discrepancy found in the bright-line area is $14,152,162 - a 9 percent increase." It said there was also a growing issue involving companies and individuals making transactions that needed GST accounted for. "Sometimes they are changing the intended use of the land or frequently transferring ownership between entities with or without GST registrations. These actions appear to be attempts to circumvent their GST obligations. "We see non-compliance or errors early, using our automated tools and analytics. Our work in this area so far, this financial year has found $59,959,470.00 in discrepancies - a 39 percent increase for the same time last financial year. " Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
