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Chinese And Hong Kong Billionaires On Top As Global Real Estate Fortunes Surge $151 Billion – Forbes

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The world’s real estate billionaires collectively added $151 billion to their fortunes in the past year, driven by a spike in Asian markets, according to the 2021 Forbes Billionaires rankings. The 215 real estate moguls have a combined net worth of more than $800 billion and represent about 8% of the total individuals on the list. Only 30 saw a net worth drop over the last year. 

The six richest are all citizens of either China or Hong Kong, including Hong Kong’s Lee Shau-kee, 93, the world’s richest real estate tycoon, with a $31.7 billion fortune. Lee controls publicly traded Henderson Land Development, which builds residential properties and marquee commercial projects, like the World Financial Center in Beijing and the International Finance Centre complex in Hong Kong. 

The biggest jump from last year went to China’s Zuo Hui, who added $13.3 billion. He was worth $15.5 billion on March 6, when the annual ranking was finalized. Zuo chairs publicly traded KE Holdings, the parent company of Lianjia, which he founded in 2001 and built into China’s largest real estate brokerage firm, with operations in 28 cities and almost 150,000 brokers.

Zuo was at the leading edge of a boom for Asian real estate billionaires, who claim 15 of the top 20 spots on the Forbes ranking, one more than last year.

Irvine Co. Chairman Donald Bren is one of only two U.S. billionaires to rank among real estate’s 20 richest people. Bren’s $15.3 billion fortune represents a $200 million drop from 2020, as the pandemic ate away valuations across the country. Irvine controls more than 125 million square feet of property, much of it in Southern California. Bren is joined by Sun Hongbin, a U.S. citizen who founded Chinese developer Sunac China Holdings; he ticked up by $100 million to $9.3 billion.

Germany’s Alexander Otto was the highest-ranking European billionaire to land in the top 20. Otto’s fortune, which includes commercial investments in major cities like Rio de Janeiro and New York, rose almost $7 billion over the past year.   

Rising values brought a handful of new billionaires to the list—though none in the top 20—including Zillow cofounders Richard Barton ($2.2 billion) and Lloyd Frink ($1.4 billion), both from the U.S., where a white-hot residential market boosted the company’s shares nearly three-fold in the 12 months ending March 6. 

#1 | Lee Shau Kee

Hong Kong

NET WORTH: $31.7 billion (1-YEAR CHANGE: +12.8%)


#2 | Yang Huiyan & family

China

NET WORTH: $29.6 billion (1-YEAR CHANGE: +45.8%)


#3 | Hui Ka Yan

China

NET WORTH: $27.7 billion (1-YEAR CHANGE: +27.1%)


#4 | Wu Yajun

China

NET WORTH: $18.3 billion (1-YEAR CHANGE: +52.5%)


#5 | Peter Woo

Hong Kong

NET WORTH: $18 billion (1-YEAR CHANGE: +56.5%)


#6 | Zuo Hui

China

NET WORTH: $15.5 billion (1-YEAR CHANGE: +604.5%)


#7 | Donald Bren

United States

NET WORTH: $15.3 billion (1-YEAR CHANGE: -1.3%)


#8 | Wang Jianlin

China

NET WORTH: $14.8 billion (1-YEAR CHANGE: +5.7%)


#9 | Kwong Siu-hing

Hong Kong

NET WORTH: $14.7 billion (1-YEAR CHANGE: +23.5%)


#10 | Joseph Lau

Hong Kong

NET WORTH: $13.6 billion (1-YEAR CHANGE: -17.1%)


#11 | Robert & Philip Ng

Singapore

NET WORTH: $13.3 billion (1-YEAR CHANGE: +22%)


#12 | Alexander Otto

Germany

NET WORTH: $11.8 billion (1-YEAR CHANGE: +136%)


#13 | Harry Triguboff

Australia

NET WORTH: $11.2 billion (1-YEAR CHANGE: +77.8%)


#14 | Cai Kui

China

NET WORTH: $10.4 billion (1-YEAR CHANGE: +50.7%)


#15 | Hui Wing Mau

Hong Kong

NET WORTH: $10.3 billion (1-YEAR CHANGE: +8.4%)


#16 (tie) | Ian & Richard Livingstone

United Kingdom

NET WORTH: $9.3 billion (1-YEAR CHANGE: +45.3%)


#16 (tie) | Sun Hongbin

United States

NET WORTH: $9.3 billion (1-YEAR CHANGE: +1.1%)


#18 | Chan Tan Ching-fen

Hong Kong

NET WORTH: $8.8 billion (1-YEAR CHANGE: +486.7%)


#19 | Kushal Pal Singh

India

NET WORTH: $8.3 billion (1-YEAR CHANGE: +124.3%)


#20 | Kei Hoi Pang

China

NET WORTH: $7.8 billion (1-YEAR CHANGE: +20%)

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Canadian home sales, prices surge to new record in March

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OTTAWA (Reuters) – Canadian home sales rose 5.2% in March from February, setting a new all-time record amid strong demand in markets across the country, the Canadian Real Estate Association said on Thursday.

The industry group said actual sales, not seasonally adjusted, rose 76.2% from a year earlier, while the group’s Home Price Index was up 20.1% from last March and up 3.1% from February.

The actual national average selling price hit a new record at C$716,828 ($572,821) in March, up 31.6% from a year earlier and rising 5.7% from February.

($1 = 1.2514 Canadian dollars)

 

(Reporting by Julie Gordon in Ottawa)

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Hot real estate market sparks warnings to potential buyers as complaints to regulator double

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As home sales in the province continue on a dizzying trajectory, the province’s real estate watchdog and regulator are warning buyers to be wary of what they may be getting into.

The Real Estate Council of B.C. (RECBC) and the Office of the Superintendent of Real Estate said that in the first three months of 2021, they have seen an increase in inquiries and complaints.

Calls to the regulator were up 42 per cent over the previous year, while complaints, such as how offers were made and accepted, were double the number received in the same period in 2020.

“Buying a home is one of life’s biggest financial decisions. There are potential risks at the best of times, but with the added pressure and stress of the current market conditions, those risks are amplified,” Micheal Noseworthy, superintendent of real estate, said in a statement.

 

 

The Real Estate Board of Greater Vancouver says sales in the region have continued at a record-setting pace.

Residential home sales covered by the board totalled 5,708 in March 2021, up 126.1 per cent from March 2020, when the COVID-19 pandemic hit, and up 53.2 per cent from February of this year.

Rural and suburban areas have experienced the biggest spikes.

For the past two weeks, Jay Park has been in the middle of the buying frenzy.

He and his partner are trying to upgrade from their one-bedroom apartment to a two-bedroom condo or townhouse in Vancouver.

“I wish we had done this a month or two ago,” he said.

 

A condo tower under construction is pictured in downtown Vancouver in February 2020. (THE CANADIAN PRESS/Darryl Dyck)

 

Park put an offer on a $1-million condo, $4,000 above asking price.

“To entice the [seller], we put in a subject-free offer, but it wasn’t successful,” he said. “They accepted $110,000 over asking price that was also subject-free.”

The hot market has led to bidding wars. Some would-be buyers have even lined up outside for days to try to get a jump on a property.

Erin Seeley, the CEO of the council, is warning buyers to do their research and be aware of risks before making an offer.

“It’s really important that buyers have engaged with their lender before they’re making offers so they know how to stay within a reasonable budget,” she said.

Seeley said some of the complaints the council has heard from buyers is that they weren’t aware the seller has a right to take an early offer.

“And the seller was really in the driver’s seat about setting the pricing,” she said.

 

Demand continues to outstrip supply for housing in cities like Vancouver. (Rafferty Baker/CBC)

 

Aaron Jasper, a Vancouver realtor, advises clients to avoid cash offers and to include finance clauses even if it may mean they lose a deal.

“There’s a lot of frustration among buyers, feeling pressure to take some risk,” he said.

“You’re better to be delayed perhaps a year getting into the market as opposed to being completely financially ruined.”

Jasper also says realtors are limited in the advice they can give to clients on legal matters, home inspections, potential deficiencies with homes, and financing.

‘Caught up in the craziness’

Other tips from the council include seeking professional advice before making a subject-free offer or proceeding without a home inspection, and speaking to a professional to determine how market conditions may be affecting prices.

Meantime, people like Jay Park say they are still keen to buy. Park has more viewings scheduled and is optimistic.

“It’s a very exciting time for us, but I also don’t want to get caught up in the craziness and make a purchase that’s above our means.”

Source: – CBC.ca

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Black Press Media introduces one of Western Canada’s best real estate platforms helping home buyers Find. Love. Live. that new home

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Need an agent who knows the community?

Or, is it time to look for a new place to live, but you don’t know what’s on the market?

Whatever the real estate need is for residents in the communities of British Columbia, Yukon & Alberta, there’s a new way to do that one-stop shopping – by visiting Today’s Home.

The slogan for the site is “Find. Love. Live.”

“We want people to find their dream home, love it, and live in it,” said group publisher Lisa Farquharson.

Building on the success of Black Press Media’s niche digital platforms – Today’s Home brings the same wealth of knowledge and local expertise to the search for a home, be it buying, selling, or even just daydreaming about what changes you can make in the future.

Search hundreds of listings that local real estate agents have available.

The listings cover properties around the region, from a one-bedroom, one-bath condo for $339,900 to million-dollar acreages throughout the province of BC, Yukon, Central Alberta and beyond.

Click on a listing, and see not only the realtor handling the property sale, but links to his or her other listings and social media feeds. With the click of a mouse, take a virtual tour of the property, find the property’s walking score, and learn about nearby amenities.

There are links available to schedule a showing, or send the agent a comment or question.

Want to share a listing? When you click on the share button, you’ll actually send an attractive digital flyer of the prospective property, not just a link.

There’s even a button to help determine how much you have to spend, courtesy of the convenient mortgage calculator.

Plus, scroll down the page on Today’s Home and find a list of expert local real estate professionals who can answer questions or help with that home sale, Farquharson explained.

Today’s Home offers the advantage of the massive reach that Black Press Media has built throughout Western Canada with its network of community newspapers and online products. That allows the public to tailor real estate searches based on location, price, and other key factors while allowing real estate professionals to gain unprecedented audience reach with their listings.

Today’s Home will dovetail into the media company’s existing print real estate publications.

“Black Press Media has real estate solutions in print and now we can add in the digital component,” Farquharson said.

Watch for expansion of the Today’s Home platform in the near future, she added. That will come as Black Press Media adds a new component – the development community. Developers will be able to reach a huge audience when their projects are ready for presentation.

For information on Today’s Home, contact group publisher Lisa Farquharson at 604-994-1020 or via email.

Happy house hunting!

Source: – Aldergrove Star

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