The Philippines Red Cross has 30 workers out with chain saws to clear debris from Typhoon Haiyan,said Chairman and CEO Richard Gordon,who is also a Filipino senator.Still,there is a feeling of desperation.They've lost family members.They're hungry.Their children are hungry.
The worst typhoon in history,Haiyan devastated homes,schools and entire communities.Meteorologists are discussing extending the current five level scale of tropical storms to six categories,on account of the oceans heating up and producing such record storms.*
The Chinese government has increased minimum down payments for high end Hong Kong property to 50%.This has had their intended effect of slowing price appreciation,while hindering even buyers with excellent credit from purchasing dream homes in the territory.
Prices of homes worth more than 10 million dollars Hong Kong are expected to drop 3% in Q4,said broker Cushman&Wakefield.Speculators have been driven off by the decline,but lower end buyers have been aided by steadying prices in their range.From 2003-12,Honk Kong luxury property went up 250%,the highest prices in the world.While the upper end growth will by around 5% in the second half of 2013,the mass market will hold steady.
The Hang Seng Property Index of Hong Kong's biggest developers has dropped 6.4% so far this year.Developers will probably respond by recalibrating their strategies by looking more to lower end projects.*
Chinese nationals are at the top of a Portuguese program to grant residency visas to foreign buyers of property worth a minimum of 500,000 euros,or around 670,000 dollars.Of the 318 of the visas granted in the past year,248 went to Chinese citizens,while Russians got 15,and Angolans and Brazilians 9 each.This has meant a decisive stimulus to the real estate market's recovery,said Foreign Ministry spokeswoman Francisca Seabra.*
In golf,Taiwan's Teresa Lu,25,won the Mizuno Classic at the Kintetsu Kashikojima Country Club in Shima,Japan on Sunday.It was her first career victory,after having been in two playoffs earlier in the year.She said she will probably return to the LPGA Tour next season now,after having left it in 2010 and concentrated on the Japan LPGA Tour.*
Adam Scott won the Australian PGA Championship with a 14 under par 67 at Royal Pines in Gold Coast,Australia.He joins five others as the only Australians to have won all three Australian majors.American Ricky Fowler was second.*
Update:This catastrophe humbles us-all of us,said Father Butch Rivera,a Philippines priest in whose home typhoon victims took refuge.I'm thinking what I can do for these people,what I can give them,the man of faith wondered.He's been consoling them.
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