AGP Executive Report

China Housing: Fresh stimulus delivered only a modest holiday rebound: new-home sales rose 15% year on year but remained below 2024 levels, while resale activity was weaker. India Investment: Institutional real estate inflows reached $5.9 billion in January–September, up 39% year on year. Brookfield also agreed to buy ESR’s Indian logistics portfolio for $444 million, while Brigade plans ₹40,000 crore of investment over three years, with 70% earmarked for housing. Development Costs: India’s proposed GST registration and dispute reforms could ease administration for developers expanding across states, even as higher borrowing costs threaten affordability. Housing Supply: South Korea plans to ease public-contribution rules to speed housing projects; Vietnam is considering higher taxes on unused land. Affordable Homes: Pakistan’s Apni Chhat, Apna Ghar programme received a 2026 UN-Habitat award for its housing support.

South Korea Supply: Seoul plans to ease public-contribution rules for land rezoning, aiming to make it easier to turn city-centre commercial sites into apartments and speed housing construction. India Investment: Institutional real estate inflows rose 39% to $5.9 billion in January–September. Brigade Group also unveiled a ₹40,000 crore three-year investment plan, with 70% earmarked for housing. China Market: The country’s top 100 developers recorded a September sales rebound as policy support took effect. Housing and Health: New Zealand’s Healthy Homes Initiative was linked to 30% fewer child hospitalisations over five years, underscoring the health benefits of improving homes.

India Investment: Institutional real estate inflows climbed 39% to $5.9 billion in January–September, with domestic investors supplying nearly 60%. Brookfield also agreed to buy an ESR portfolio of 10.5 million sq ft of industrial and logistics space for ₹4,300 crore. Housing Affordability: The RBI’s rate rise to 5.5% may weigh on affordable and mid-market buyers during the festive season, while luxury demand is seen as more resilient. South Korea: Seoul apartment prices rose 0.12% in the first week of October, extending a run of weekly gains to 87 weeks. Meanwhile, the government is targeting 300 redevelopment districts to speed up housing supply.

India Logistics: Brookfield is entering India’s industrial and logistics market with an acquisition of ESR assets covering 10.5 million sq ft, alongside a ₹4,300 crore investment commitment. South Korea Housing: The prime minister is targeting 300 redevelopment districts to speed up housing supply, as officials also weigh measures to ease rental-market pressures. India Investment: Private-equity investment in Indian real estate rose 23% to $2.7 billion in the first half of FY2027, its strongest first half in four years, with data centres among the growth drivers. Home Loans: India’s 25-basis-point repo rate hike to 5.5% is expected to weigh on borrowing costs and housing demand, though developers see festive-season sales holding up.

South Asia Housing Push: Punjab CM Maryam Nawaz met Oman’s housing minister and highlighted “Apni Chhat, Apna Ghar,” saying Rs260bn in interest-free loans has reached 200,000+ people and 125,000+ families have moved into homes. Korea Rental Crunch: Seoul experts warn jeonse and monthly rents are still rising after new land-transaction rules, urging more corporate-run private rental supply and easing limits on multi-home owners. Korea Public Housing Delivery: South Korea’s audit body cleared cost recalculations for six stalled public housing projects covering 3,936 units, aiming to restart construction amid higher costs. India Rate Shock for Homes: India’s RBI raised the repo rate 25 bps to 5.50% and shifted to “calibrated tightening,” with analysts expecting higher EMIs to cool festive housing demand, especially in price-sensitive segments. Pakistan Tax Signals for Real Estate: Pakistan’s salaried class paid Rs144bn income tax in Q1 FY27, while real estate income tax fell 38% to Rs35.2bn after reduced advance tax rates on property sales and purchases. Urban Infrastructure Spend: Pakistan’s Sindh, with ADB support, plans about Rs278bn (US$1bn) for climate-resilient urban upgrades across five divisional headquarters. Sustainable Finance & Cities: Hong Kong Green Week hosted ESG XCHANGE 2026, bringing together finance, real estate and tech leaders to push sustainable finance and climate innovation.

Korea Housing Supply vs Demand: South Korea saw apartment supply jump 34% while first-priority applications fell 26.6%, with competition ratios about half last year—analysts say demand is shifting toward Seoul and price-capped new towns. Seoul Price Signals: In Mapo, an 84-sq-m right to a new unit traded near 3.2 billion won, narrowing the gap with Gangnam as tax changes and Han River-area buying interest heat up. Vancouver Election Housing Plans: Ahead of Oct. 17 civic polls, Vancouver parties are pitching a mix of social/supportive housing, purpose-built rentals, laneway homes and condos, with construction and completion numbers used to argue who’s delivering. India Real Estate Capital Flows: Private equity into Indian real estate rose 23% to $2.7bn in H1 FY27, but MMR’s share slipped as domestic and pan-India/multi-city platforms gained favor. Japan Deal Watch: Blackstone, Bain and Warburg are preparing final bids for Fuji Media’s Sankei Building unit, potentially one of Japan’s biggest property takeovers. Pacific Resilience & Risk: Armenia’s central bank unveiled a climate risk mapping initiative to help finance and urban planning factor in environmental shocks.

Pacific Climate Pressure: Tuvalu warned COP31 can’t be “another talk shop” as leaders visit the low-lying island ahead of UN talks, underscoring the housing and infrastructure stakes of sea-level rise. Housing & Livability: UN-Habitat marked World Habitat Day in Muscat, highlighting “Adequate Housing for All” as more than 3 billion people lack secure housing, while a Global Heat Forum stressed that heat governance must link health, housing, energy and transport. Cambodia Macro/Real Estate Backdrop: The World Bank cut Cambodia’s 2026 growth forecast to 3.5% as tourism slumps and fuel costs rise; it notes a real estate correction and tighter credit weighing on investment. Hong Kong Public Housing Enforcement: Two PRH residents were jailed for falsely declaring they owned no property, with authorities also moving to recover flats. Cross-Border Mobility: Hong Kong’s Huanggang Port will add “collaborative inspection” automated channels for eligible residents, aiming to speed joint clearance with Shenzhen. Spain Housing Politics: Spain’s PM Pedro Sanchez called a Nov. 29 snap election after parliament rejected housing-crisis decrees. Korea Rental Risk: Korea’s agricultural and fisheries co-ops are heavily exposed to property-backed loans, raising concerns for credit if real estate weakens.

Spain Housing Shock: Spanish PM Pedro Sánchez called snap elections for Nov. 29 after his government failed to pass emergency housing measures, as protests over rent and evictions keep pressure on lawmakers. Japan Real Estate Tech: Mitsui Fudosan plans a data center inside an unused Kobe tunnel, aiming to reuse infrastructure and ease above-ground construction constraints. Disaster-Ready Homes: New Zealand’s Natural Hazards Commission is funding $3.6m of research on how earthquakes can trigger fires and flood impacts, with a focus on safer retrofits and smarter development in hazard zones. India Construction Innovation: Andhra Pradesh is building 177 3D-printed concrete houses in Guntur, with each home taking about 10 days and the pilot expected to finish in six months. India Branded Residences Push: India’s branded residences pipeline is mapped at 46 projects across 18 cities, with a premium cited of roughly 25%-40% over unbranded homes. UAE Investment Signal: UNCTAD data shows UAE outward FDI hit $63.353bn in 2025, spanning real estate and infrastructure among other sectors. China Spy Case Touches Property World: A California real estate agent was arrested at LAX accused of surveilling Taiwan President’s son for China, underscoring cross-border risks tied to local property professionals.

Capital Markets & Housing Finance: India’s SEBI chief Tuhin Kanta Pandey warned investors to ignore anonymous “finfluencer” tips and unrealistic returns as the market broadens via simpler mutual fund categories and smaller-ticket SIPs. Foreign Investment Rules: India’s RBI draft foreign investment rules put Alternative Investment Funds (AIFs) in focus by creating interpretational gaps versus the prior “domestic for downstream” treatment. Asia-Pacific Real Estate Capital: Gaw Capital filed to list a Hong Kong fund targeting property-backed private loans across Asia Pacific and the Middle East, aiming for quarterly dividends. Residential Demand Signals: Finland’s steel recovery is led by data centres, energy-transition and infrastructure, while residential construction stays weak—an indirect read-through for building activity. Thailand Lifestyle Migration: Thailand’s Long-Term Resident (LTR) visa topped 12,000 approvals in four years, with BOI estimating 43 billion baht in economic value. Australia Migration Shock to Housing Demand: New student visa restrictions limit dependants and course transfers, raising pressure on rental and education-linked demand. Urban Infrastructure Delivery: Vietnam’s Phú Quốc LRT trackworks are progressing despite heavy rain, with testing slated for 2027 and completion ahead of APEC 2027. Local Housing & Community Pressure: Chennai’s OMR residents push back on a proposed UPI commercial levy for maintenance collections, arguing it could raise costs for housing societies. Property Market Sentiment (NZ): New Zealand listed home-exposed firms fell on forecasts of continued housing headwinds, while Auckland-area land sales and broader market moves stayed in focus.

Urban Policy & Courts: India’s Supreme Court has taken suo motu cognisance of the proposed relocation of the 135-year-old Central Secretariat Library, after reports it was left out of the Central Vista redevelopment plan—hearing is set for Monday, spotlighting how major city projects handle heritage assets and public records. Real Estate Demand & Lifestyle: Abu Dhabi developers say buyers increasingly pay for “liveability” beyond bricks—connectivity, schools, parks, retail and walkability are now tied to long-term property value. Luxury Senior Living (India): DLF says its Gurugram ultra-luxury retirement project The Aureva has fully sold 172 units, generating about ₹1,985 crore, with pricing around ₹11.5 crore per apartment. EV Charging & Property Design (India): A new push argues EV charging must be embedded into homes and mixed-use projects, with building rules and power-capacity checks shaping how developers plan parking and electrical infrastructure. Urban Development Law (Vietnam): Vietnam’s Urban Development Law takes effect Oct 1, giving cities more decision-making power and a framework to build “growth poles” through infrastructure and connectivity. Climate Diplomacy (Pacific): Pre-COP31 meetings in Fiji and Tuvalu urge major-leader action on the Pacific’s climate crisis, stressing ocean-climate links and Indigenous knowledge in negotiations.

Nepal Flood Relief: Hyundai Department Store delivered 300 million won to Habitat for Humanity Korea for rebuilding housing after Nepal’s glacial lake outburst flooding, funded by customer point donations and in-store events. Urban Renewal (China): Shanghai residents in Shimin Xincun Village are finally getting private, family-tailored upgrades under a “one household, one policy” renovation approach, ending decades of shared facilities. Bangkok Flood Response (Thailand): Bangkok says floodwater is draining slowly but there’s no immediate risk of fresh flooding; officials cite critical canal levels, ongoing pump work in eastern districts, and preparation for forecast monsoon rain. Tokyo Heat & Trees: Residents in Nakano are campaigning for more canopy cover as tree shade shrinks amid extreme heat, using local readings and petitions to push ward targets. India Real Estate Demand Split: Equirus reports a two-speed market: office, flexible workspace and logistics demand stays strong while residential inventory and unsold stock rise. Vietnam Macro + Housing Costs: Vietnam’s GDP grew 9.01% in nine months; CPI rose 4.52%, with housing and construction materials driving inflation. Vietnam FDI Surge: Registered FDI hit $50.36bn in the first nine months, up 76.4% YoY, led by manufacturing and investors from Singapore and South Korea. Seoul Public Space Care: A Seoul-area real estate worker is cleaning neglected playgrounds and public facilities, turning personal action into a community movement. Pakistan Housing Recognition: Punjab’s “Apni Chhat Apna Ghar” won the UN-Habitat Scroll of Honour in Muscat, spotlighting low-cost housing delivery.

Housing Policy & Supply: West Bengal finance minister Swapan Dasgupta says the 1976 Urban Land (Ceiling and Regulation) Act “has to go,” arguing it blocks large land parcels and slows investment, as Kolkata and nearby cities gear up for a land-reform push. Affordable Housing & Delivery: Pune’s MHADA extended applications for 4,462 homes; 97,701 have applied so far, with the deadline now set to Oct 15 after verification delays. Urban Redevelopment: Victoria’s public housing tower redevelopment in Australia is forcing long-term residents to relocate, with residents warning about pressure to move and the risk of losing housing stability. Retail Real Estate: Cushman & Wakefield reports retail leasing in India’s top eight cities fell 38% in malls in Jul-Sep, while high-street leasing rose 33%, keeping overall leasing only slightly up for Jan-Sep. Capital Markets (Real Estate): Philippines developer Arthaland raised P2.15bn via oversubscribed preferred shares, expanding its sustainable project portfolio. Construction & Cities: Vietnam logged 149,700 new enterprises in nine months; construction and real estate registrations rose, signaling continued activity despite business churn. Sustainability & Built Environment: Urban Adda 2026 in Delhi will release new studies on traffic pollution and safer streets, including work on Gurugram air impacts and electric tractor pilots.

Property Awards: PropertyGuru Asia Awards Malaysia (Oct 2) spotlighted Malaysia’s top developers and projects across 62 categories, with Sunway’s Jeffrey Cheah taking the Life Achievement Award and Sime Darby Property naming its CEO Real Estate Personality of the Year. PropTech & Construction: At CREDAI NATCON 2026 in Kolkata (Oct 2-4), developers and tech firms said AI is moving from demos into real estate delivery—planning, construction monitoring, customer engagement and building operations. Housing Policy Clash: Spain’s Balearics housing debate reignited after the government rejected two housing decrees, with business and developers warning against rental restrictions that could reduce supply. Urban Heritage Protection: Hong Kong gazetted two new declared monuments—Hung Shing Temple (Wan Chai) and Stanley Mosque—adding to its protected landmark list. India Tax & Housing Compliance: Uttarakhand’s GST probe found alleged irregularities at Eden Senior Living & Wellness, with Rs 2.25 crore recovered after claims tied to flat sales and input tax credit use. Infrastructure vs Development: Panaji residents urged Goa’s authorities to reject five NBCC redevelopment projects, citing drainage, water and power limits. Data Centre Risk Scrutiny: Goodman Group’s Sydney AGM faces securityholder resolutions seeking disclosure on how it manages community and environmental risks for data centres near sensitive areas. Vietnam Real Estate Demand: Phú Mỹ Hưng launched Triton Crown in Crescent Lake District (HCMC), positioning it as a premium, limited-supply apartment and retail podium project. Cambodia Land Safety Handover: India-backed mine clearance under Cambodia’s Quick Impact Project handed nearly 198,000 sq m of cleared land to Koh Kong communities for farming, housing and livelihoods. Market Watch: ICRA expects office and mall occupancy to edge toward ~90% by March 2027, supported by leasing demand and GCC-driven growth.

Urban Renewal & Housing Delivery (India): Ahmedabad’s AMC has issued work-order amendments to Nila Infrastructures for two slum rehabilitation PPP projects—Kajimiya ni Chali (728 homes, 25 shops; INR 105.02 crore) and Gulbai Tekra (854 homes, 10 shops; INR 99.08 crore)—expanding scope and revising compensation. ESG Benchmarking (India): Max Estates earned a Dual 5-Star GRESB 2026 rating (100/100 Development; 93.5/100 Standing Investments), reinforcing its LiveWell/WorkWell sustainability approach. Retail Real Estate Shift (India): Knight Frank/CII data shows tier-2 cities added far more Grade A shopping-centre space than tier-1 since 2020, as metro rents and prime-location scarcity squeeze expansion. Policy & Supply Planning (India): CREDAI says “infrastructure-first” should guide urban growth, citing a rapid rise in India’s real estate market and construction pipeline. Regulatory Clampdown (India): India’s ED provisionally attached 211 properties worth ~₹646.6 crore in the Pancard Clubs case, lifting the total attached value to ~₹700.9 crore. Infrastructure Momentum (China): A new Harbin–Yichun high-speed rail line cut travel time from ~7 hours to ~2, supporting development in northeast border and forest regions.

Mortgage Shock in the UK: A global bond selloff is pushing borrowing costs higher, with UK 30-year yields topping 6% and some fixed-rate homeowners facing steep payment jumps as rates reset. Affordable Housing Push in Goa: Goa approved transfer of 96,512 sqm of government land at Parcem, Pernem to the Goa Housing Board for its first PMAY-aligned affordable housing complex, with CBRE South Asia appointed to shape the policy. India Homebuyer Compensation: A Noida buyer won compensation after a delayed 3BHK flat—promised possession in 2012 but delivered in 2017—highlighting how missing documents and delayed handovers can still be challenged in court. Korea Housing Finance Concentration: South Korea’s policy mortgage “Bogeumjari” loans are heavily skewed to the greater Seoul area despite extra charges meant to redirect demand. Korea Treasury Market Stress: Seoul is considering cutting Treasury issuance further and using emergency buybacks as global yields spill into domestic funding costs. APAC Tech + Infrastructure Capital: Samsung plans a $1bn AI infrastructure investment in the US via Helix Digital, while Singapore’s PRECISE and Temus signed a five-year joint innovation centre for precision medicine. Real Estate Finance Deal: Poddar Keventer launched a Rs 400 crore (up to Rs 600 crore) secured real estate debt AIF targeting Delhi-NCR and West Bengal.

Data-Centre Push in Vietnam: Cushman & Wakefield and APTelecom team up on a USTDA-funded feasibility study for Stavian Digital Park in Ho Chi Minh City, aiming to map the data-centre campus pathway. Urban Development & Public Assets (India): NBCC signs MoUs with MoHUA for FY26-27 performance targets and separately for an India International Cultural Centre in Gurugram, adding museums, language schools and an auditorium. Housing Finance Reform (India): PFRDA says NPS funds may be allowed to invest via AIFs into large infrastructure projects within two years, alongside existing REIT/InvIT options. China Property Support: China rolls out fresh mortgage and demand measures, including interest subsidies for first-time buyers, as policymakers try to revive the housing market. Korea Housing Supply Signals: Seoul plans more public housing sites, while policy shifts on relocation loans and housing supply updates keep the market in focus. Mega-City & Retail Growth (Vietnam): Vinhomes readies an integrated mega-city model, while Vietnam targets large-scale social and rental housing by 2030. Regional Investment Mood: CBRE flags improving APAC investor appetite and rising hotel investment activity as tourism demand strengthens.