Chinese Premier promises to curb property speculation
Chinese Premier Wen Jiabao has promised to curb property speculation and increase the supply of affordable housing, after home prices surged in January, as many home buyers defied the government’s cooling measures.According to SouFun Holdings Ltd, January’s home prices saw the biggest...
Continue Reading • 7 Feb 2011
Hong Kong housing world's most expensive
New World residential real estate markets are a riskier investment yet also bring higher rewards for investors, said a new global survey. It also found that Hong Kong the most expensive centre for each household type, including the global billionaire.The Global Cities survey from Savills showed...
Continue Reading • 1 Feb 2011
Property tax fears lead to surge in Beijing home sales
Home sales have risen in Beijing due to fears that a real estate tax will be introduced. Government statistics showed that nearly 2,093 homes were snapped up last Thursday, up 86 percent from the previous day.The rush to buy flats follows the state council’s implementation of additional...
Continue Reading • 1 Feb 2011
Yanlord, Reco Yizhong acquire Tianjin site
Yanlord Land Group Limited and Reco Yizhong, an affiliate of GIC Real Estate, have jointly acquired a prime residential site in Jinnan District, Tianjin for RMB1.16 billion, or around RMB3,182 psm.Located within the planned Tianjin Haihe Academic Park, the site has a total land area of 364,787 sq...
Continue Reading • 1 Feb 2011
Hong Kong property market to see robust growth
Hong Kong’s real estate market will likely see strong growth following the Lunar New Year, despite its slowdown ahead of the festive season, said analysts.The local market will also receive a boost from the recent mainland property cooling measures.Sales at its 10 benchmark residential...
Continue Reading • 31 Jan 2011
Shanghai, Chongqing to begin property tax trials
The Chinese government has approved property tax trials on some housing in Chongqing and Shanghai, in addition to measures unveiled earlier this week as part of its campaign to curb asset bubbles and property speculation.Shanghai will start trials today, it said yesterday on its website. China...
Continue Reading • 28 Jan 2011
China implements more cooling measures
China has implemented more property cooling measures, lifting the minimum down payment for second home loans to 60 percent from the current 50 percent, in a move to avert the risk of a property bubble.“China will continue to effectively curb investment and speculative purchases of houses to...
Continue Reading • 27 Jan 2011
Major developer dismisses China's property bubble fears
The measures announced by the central government to curb property prices are affecting developers, said Shui On Group Chairman Vincent Lo, who also dismissed fears of a bubble in the Chinese real estate market.China is facing a long term real estate supply shortage, said the chairman of one of...
Continue Reading • 26 Jan 2011
UMS to divest Changi North Crescent property
UMS Holdings Limited is planning to divest its leasehold property at 27 Changi North Crescent for about S$6.98 million, in a move to dispose its non-income generating assets after shifting operations out of Singapore to lower costs in its manufacturing sector.On 16 April 2004, JTC Corporation...
Continue Reading • 26 Jan 2011
Hong Kong's housing polled world's least affordable
Hong Kong has the world’s least affordable housing, said an international survey, a finding that will surely stir further discontent among residents already dissatisfied with runaway real estate prices.Buying a home in Hong Kong costs over 11 times the average salary of the city, surpassing...
Continue Reading • 26 Jan 2011
Iskandar Investment signs deal to develop USMC
Iskandar Investment Group has started the year with a deal between Iskandar Education Enterprise Sdn Bhd and the University of Southampton to develop the University of Southampton Malaysia Campus (USMC) in EduCity, Iskandar Malaysia.Due to open next year with 60 students, the 1.39 acre USMC will...
Continue Reading • 25 Jan 2011
China-Singapore township project receives healthy interest
Various organisations have signed agreements to invest in the upcoming Sino-Singapore Guangzhou Knowledge City.Japanese company Hitachi will be establishing a Hitachi Smart City R&D Centre within the city, focusing on matters relevant to the establishment of “smart cities” in...
Continue Reading • 24 Jan 2011
China expands limits to house purchases
China will expand the limits on real estate purchases to second- and third-tier cities, as it intensifies its efforts to cool the property market, said a report.Authorities have prepared a list of cities that will need to implement the limits, said an unnamed high-level official at the Ministry...
Continue Reading • 24 Jan 2011
New rules in China could end property disputes
In an attempt to ease public anger, the Chinese government has issued new rules promising to end illegal forced demolitions and give fair prices to affected homeowners.In a nation where the government legally controls all land, property disputes have been a growing problem for the ruling...
Continue Reading • 21 Jan 2011
HK home sales thrive despite price-cooling measures
Real estate sales and prices in Hong Kong recovered strongly last week, suggesting that the market had overcome its jitters over the expected severity of the cooling measures announced by the government in November to rein in price growth, said analysts.Two months after the introduction of...
Continue Reading • 20 Jan 2011
Euro Asia plans residential development in Shandong, China
China-based property developer Euro Asia Premier Real Estate plans to develop a residential project on a Cloud Lake site in Shandong Province.Located on a 103,437 sq m land parcel, the development will comprise six apartment buildings, with a total gross floor area (GFA) of 80,000 sq m and an...
Continue Reading • 19 Jan 2011
Chinese cities curb spending on low-rent housing
Chinese cities spent less than required on low-rent housing and awarded subsidies to applicants who failed to meet the criteria for the benefit, said the National Audit Office in a report.Shanghai, Beijing and 20 other Chinese cities reserved less than the 10 percent requirement of land sale...
Continue Reading • 19 Jan 2011
China property prices higher in December
Property prices in China’s major cities saw their fourth straight monthly increase in December, official data released on Monday showed.According to the National Bureau of Statistics, property prices in 70 major cities rose 0.3 percent in December from November and up 6.4 percent from a...
Continue Reading • 18 Jan 2011
China's Wuhan City limits housing purchases
Wuhan City in China has issued new rules which allows each household to purchase only one home in the downtown area, starting January 15, according to a report by Shanghai Securites News, as Wuhan joined other big Chinese cities in curbing property prices.The newspaper added that the provincial...
Continue Reading • 17 Jan 2011
Land values near KL's rail system may rise six-fold
The Kuala Lumpur mass rail transit (MRT) will likely become a structural catalyst for the increase in value of surrounding properties, with a stockbroking firm even expecting land values in hot spots to climb by up to six times over the next five years.The blue line, the first of the three...
Continue Reading • 17 Jan 2011