China's developers facing uncertainty, says S&P
Property developers in China may face further price reduction of up to 10 percent in some major cities in the next 12 months, according to Standard & Poor's Ratings Services report card titled “Chinese Real Estate Developers Are Wary As Correction Deepens”.Despite regulatory...
Continue Reading • 13 Oct 2010
China's tightening measures to speed up property sales
The slew of policy-tightening measures in China, aimed at preventing a bubble from bursting in the property market is likely to speed up sales of several projects, as property prices in top-tier cities decline, according to industry executives and analysts.Since April, the central government has...
Continue Reading • 13 Oct 2010
China's property firms recording strong sales in Q1 - Q3
China’s top 20 real estate firms have recorded total revenue sales of RMB471 billion in the first three quarters of 2010, up 34.6 percent over the same period last year, according to a report released by China Real Estate Information Corp.The real estate firms recorded large profits from...
Continue Reading • 11 Oct 2010
Shanghai buyers limited to one new home
The government of Shanghai has implemented a new property measure, limiting homebuyers to acquire only one apartment unit, and will impose revised land appreciation tax as part of their move to curb property prices, said a local media reporter.According to the new rule, every family living in...
Continue Reading • 8 Oct 2010
Aussie rental markets slightly recovers in Q3
Australian rental markets have shown signs of tentative recovery. Rents in some areas are slightly up following below average growth over the last 12 months.According to the Rent Review Report released by RP Data for the September quarter, average prices climbed 2.8 percent and 2.9 percent in...
Continue Reading • 8 Oct 2010
HK property on Stanley Main Street up for sale
An eye-catching blue property at No. 88 Stanley Main Street in Hong Kong has been launched for sale through a public tender. Colliers International, the sole marketing agent for the property, said the blue-building property has a total site area of 948 sq ft and an existing gross floor area of...
Continue Reading • 7 Oct 2010
Chinese Golden Week fails to see market rebound
The week-long Chinese National Day holiday, which usually sees the annual peak time for real estate sales in the country, failed to witness a rebound in the market as the government’s recent price-cooling policies take effect.Based on figures released by the Beijing Real Estate Trade...
Continue Reading • 7 Oct 2010
BOJ plan spurs Japanese property stocks
Japanese real estate stocks climbed yesterday as investors expect that the central bank’s plan to purchase assets including real estate investment trusts (REIT) would help drive the industry’s recovery.Additional consolidation in the nation’s 3 trillion yen (US$36 billion) REIT...
Continue Reading • 7 Oct 2010
S$1.9b worth of new units sold in HK
Hong Kong’s two largest property developers, Cheung Kong Holdings and Sun Hung Kai Properties Ltd, have sold more than S$1.9 billion (HK$11 billion) worth of new properties over the weekend.Cheung Kong Holdings sold 1,143 apartment units at the Oceanaire in the Ma On Shan district for more...
Continue Reading • 5 Oct 2010
China's urbanisation blamed for rising prices
China could find it hard to control the real estate market as urbanisation continues to put pressure on main coastal cities, driving up prices and making land scarcer, said a DTZ executive.“The speed of urbanisation is very, very fast, which means that they are running out of land,”...
Continue Reading • 30 Sept 2010
Zephyr Point set for October launch
Urban Hallmark Properties (UHP) has announced that Zephyr Point, an upscale boutique development located in Lorong Basong, Damansara Heights, is likely to be launched in October.The development is almost complete and is currently awaiting its certificate of fitness (CF), said Datuk Jeffrey Ng,...
Continue Reading • 30 Sept 2010
Malaysian officials to take action on dodgy construction
The Malaysian government will take strict action against shoddy property development practices, warned Malaysian Local Government and Housing Minister Datuk Wira Chor Chee Heung. His comments were reported by Bernama news agency. “The government will make it more difficult to be a licensed...
Continue Reading • 29 Sept 2010
NZ to limit foreigner land acquisition
New Zealand will place new controls on foreign investors acquiring large land parcels to address the growing concerns of foreigners acquiring too much farmland in the country.New measures to evaluate the merit of overseas investors in land will include a test that will consider whether the...
Continue Reading • 28 Sept 2010
HK unit sold at record breaking price
Henderson Land announced that it has sold a flat at its 39 Conduit Road development located in Mid-Levels West for HK$60,000, which made it, in terms of price psf, the most expensive apartment in Hong Kong.A house at Severn 8 on The Peak is still the most expensive residence in the city fetching...
Continue Reading • 28 Sept 2010
US REITS sell shares to fund property acquisition
US real estate investment trusts are selling shares to finance the purchases of property after using record cash from equity offerings in 2009 to cover dividends and reduce debt.According to a data compiled by Bloomberg, landlords have sold $1.38 billion of stocks since September 17. They have...
Continue Reading • 27 Sept 2010
UK home prices decline
The average price of UK homes dropped from 0.4 percent to 157,600 pounds (US$249,000) compared with the previous week, according to a London-based property researcher. This was the biggest decline since March 2009 and the third consecutive monthly decline in the average home prices.The decline in...
Continue Reading • 27 Sept 2010
Tianjin Eco-City project to fuel greater recognition
Keppel Corporation is expecting “good returns” from its Tianjin Eco-City project, which will have a crucial role in the company’s strategy to broaden its reach in China, said Lee Boon Yang, chairman of the company.“As a listed company, Keppel Corporation is accountable to...
Continue Reading • 27 Sept 2010
UK property market faces downturn
The number of residential units sold in Britain dropped by 4,000 to 77,000 homes in August, according to seasonally-adjusted data from the government, suggesting that confidence in the market remains fragile.So far, the government data indicated that transactions this year are running below...
Continue Reading • 24 Sept 2010
US home sales on the rise
According to a new report, existing-home sales in the US surged in August after a big correction in July.The National Association of Realtors (NAR) in the US said sales of existing homes jumped 7.6 percent to a seasonally-adjusted annual rate of 4.13 million in August from an upwardly revised...
Continue Reading • 24 Sept 2010
China's soaring home prices may delay urbanisation efforts
Skyrocketing property prices in China may delay the process of urbanisation and lower the competitiveness of the country, said Li Daokui, a member of the monetary policy committee of China's central bank.Mr. Li noted that potential homebuyers could not afford to acquire homes in first-tier cities...
Continue Reading • 24 Sept 2010