Idle developers in China banned from land auction bids
The Ministry of Land and Resources will prevent some companies from acquiring more land in future auctions after several of their sites went undeveloped.The ministry highlighted 26 undeveloped sites on the mainland, alongside the firms and parent companies that own them. One of the companies on...
Continue Reading • 4 Jan 2011
HK property deals to fall in 2011
The number of property transactions in Hong Kong's resale market will likely decline this year, as the government continues to curb speculation in the red-hot property market, according to real estate agency Centaline.The number of private home deals in the resale market will decline to 90,000...
Continue Reading • 4 Jan 2011
Aussie property market one of the strongest this year
Australia’s housing market was one of the world’s strongest in 2010, but expected interest rate hikes may ease growth, according to the Global Real Estate Trends report released by Canada's Scotiabank.The report tracked the housing markets in 12 advanced economies in 2010.While home...
Continue Reading • 30 Dec 2010
China may double housing supply next year
China may have to build more affordable homes in 2011 than the 10 million units planned, as the target may not be enough to meet the country’s demand, said the International Strategy & Investment Group (ISI).The central government intends to nearly double the supply of affordable...
Continue Reading • 30 Dec 2010
China to continue property tightening next year
China will continue to curb property speculation next year, and will strengthen the implementation of measures to curtail rising home prices, said a local report, quoting Housing Minister Jiang Weixin.Chinese officials present in the ministry's year-end work meeting noted that “it remains...
Continue Reading • 30 Dec 2010
CapitaLand's The Beaufort records brisk sales
CapitaLand China Holdings, a wholly-owned subsidiary of CapitaLand, has sold about 60 percent of the 220 apartments launched for sale at The Beaufort located in Beijing.The company launched a residential tower at The Beaufort on Christmas Day, under the second stage of marketing for the...
Continue Reading • 29 Dec 2010
Housing prices in the UK continue to drop
House prices in the UK dropped for a sixth month in December, and will remain down next year due to weak housing demand and tighter lending conditions, according to Hometrack.The average cost of a residential property in the UK fell 0.4 percent in November and will drop further by 2 percent next...
Continue Reading • 28 Dec 2010
China to crackdown on shady developers
In a continued effort to curb the red hot real estate market, the central government of China has vowed to punish shady property developers, as well as ordered local officials to curb rising land prices.A statement from the Ministry of Land and Resources said that high property prices in some...
Continue Reading • 28 Dec 2010
Sansiri to unveil 11 new projects next year
Thai-listed real estate developer Sansiri intends to put in THB20 billion for the launch of 11 new residential projects next year.Sansiri will be focusing on building A- and B-class condominiums along the planned Mass Rapid Transit Purple Line and in prime areas in Bangkok, said Uthai...
Continue Reading • 27 Dec 2010
Beijing to develop 122-storey skyscraper
Beijing is expected to develop a 122-floor skyscraper in the city’s CBD by 2015, making it the highest building in the Chinese capital, according to Xinhua news agency.Beijing’s newest skyscraper will comprise offices, apartment units and a hotel, as well as four underground levels...
Continue Reading • 27 Dec 2010
Aussie luxury home prices to drop next year
Prices of luxury homes in Australia may decline next year after listings of properties worth over A$1 million climbed by 40 percent, which is more than the average for this year, said the Real Estate Institute of Australia.“There's about a 5 percent gap in what sellers expect and what...
Continue Reading • 23 Dec 2010
HK's property market to continue growing
Despite the Hong Kong government’s series of cooling measures, as well as record high property prices and a volatile global financial condition, the city-state’s property market will likely continue its upward swing next year.Though a short break is expected to be seen in the first...
Continue Reading • 23 Dec 2010
Crowne Plaza debuts in Bangkok
The Crowne Plaza Hotels & Resorts brand is making its debut in Bangkok’s CBD. “This hotel provides the perfect launch pad for the Crowne Plaza brand in Thailand,” said Mark Winterton, general manager of Crowne Plaza Bangkok Lumpini Park.Providing panoramic views of the city,...
Continue Reading • 22 Dec 2010
Foreign developers to benefit from China property measures
The cooling measures implemented in China may actually be making it easier for foreign property developers to enter the Chinese market, according to Channel News Asia.The property measures may be putting off some Chinese developers from starting projects, which is good for foreign property...
Continue Reading • 22 Dec 2010
CBRE to manage Sathorn Square in Bangkok
The world’s leading real estate services firm CB Richard Ellis (CBRE) has been appointed the property manager of Sathorn Square.Aliwassa Pathnadabutr, managing director of CBRE has signed a property management contract with Chris Delaney, chairman and executive director of Golden Land...
Continue Reading • 22 Dec 2010
Shanghai company to develop world's highest hotel
Shanghai-based Jin Jiang International Hotels Group Co intends to build the highest hotel in the world in Shanghai, which will displace the nearby Park Hyatt and Hong Kong’s Ritz-Carlton, which opens in March.The venture with Shanghai Tower Development Co will see the development of the...
Continue Reading • 21 Dec 2010
HK resale home sales jump
Sales of resale apartments in Hong Kong rose over the weekend, as the index monitoring home prices had its biggest weekly decline in over six months, according to Centaline Property Agency Ltd.The number of transactions in projects like Mei Foo Sun Chuen and Tai Koo Shing rose 25 percent to 66...
Continue Reading • 21 Dec 2010
China's property boom continues unabated
China’s real estate boom remains “unabated” and has even picked up since the government’s announcement of cooling measures, said Jim Chanos, the hedge-fund manager who earlier predicted a market crash in 2010.Home prices in 70 cities jumped 7.7 percent last month from the...
Continue Reading • 20 Dec 2010
Australia to see soft residential market next year
Australia’s housing industry is hinting at a soft residential building market for next year, according to the quarterly report card HIA National Outlook.The Housing Industry Association (HIA) said there are indications that the recovery in new home building will reverse next year.“The...
Continue Reading • 17 Dec 2010
Beijing's property prices jumped 9.1% last month
Property prices in Beijing rose 9.1 percent year-on-year last month, but below 20 percent compared to October’s price increase, according to a statistics released by the Beijing Statistics Bureau.Property prices fell 0.2 percent month-on-month in November, but prices for new homes rose 14.3...
Continue Reading • 17 Dec 2010