News

Spanish house prices to fall 20-30 pct

House prices in Spain will fall up to 30 percent in real terms within three years and the property sector faces at least two years of recession, the head of one of Spain's biggest real estate firms, Colonial , said on Tuesday.

China home prices to drop more as curbs stay

Property prices in China will fall further because demand is weak and the government probably won't relax restrictions on home loans, according to Citic Ka Wah Bank Ltd. Chief Economist Liao Qun.

Formosa plans to expand Vietnam steel mill

Formosa Plastics Group may expand the capacity of a planned steel plant in Vietnam to 30 million metric tons a year, the Economic Daily News said, citing Kuo Yen-tu, an adviser to the company.

U.S pending home sales tumble in May

Pending sales of previously owned U.S. homes plummeted by 4.7 percent in May, far more than expected and a sign of more trouble ahead for the beleaguered housing market, a real estate trade group report showed on Tuesday.

China: Government to help real estate developers

China's government is likely to take measures to ease property developers' funding difficulties caused by loan curbs and falling sales, the Economic Observer reported, citing a person it didn't identify.