CapLand launches 5th Raffles City China
More than just believing in the recovery story of China, Liew Mun Leong, the chief executive at CapitaLand, also says that the growth strategy for CapitaLand is “emboldened by it”.During the launch of the fifth Raffles City-brand project in China last Saturday, Liew said that...
Continue Reading • 31 Dec 2009
Report reveals the UK's most expensive places to purchase property
Chelsea and Kensington in London are the most expensive places in the UK to purchase real estate, with half of the most expensive residential area in the borough.The average price for a real estate property in the Wycombe Square is about £5.4 million.Overall, five out of the nine regions of...
Continue Reading • 31 Dec 2009
Asian currencies fall against US Greenback
Various Asian units declined against the American currency yesterday, after regional stock markets experienced losses.In Hong Kong, Hang Send Index showed loss 194.9 points and closed at 18,058.49 whilst in Japan, Nikkei 225 declined by 0.8 percent, to close at 9,786.82.Heavy selling generated...
Continue Reading • 31 Dec 2009
Luxury property in Phuket recorded THB 1.1 billion sales
Phuket Luxury property market accounted for transactions worth THB 1.1 billion from July to November this year, according to a market research done by C9 Hotelworks. The resale sector made up the 50 percent of the total sales.According to C9’s managing director, Bill Barnett, “this...
Continue Reading • 30 Dec 2009
HK sells land plots lower than the expected prices
The Hong Kong government sold two residential land plots at prices below market expectations in its first major land auction in two years, pressuring the stock market and property companies' shares.However, the land plots were sold at lower-than-expected prices due to its location and it did not...
Continue Reading • 29 Dec 2009
Housing prices in the UK drop 1.9%
Year-on-year housing prices in England and Wales dropped 1.9 percent in December, the smallest annual decline since May this year, according to property data company Hometrack.But the monthly result of housing price increases suffered a slowdown of 0.1 percent in December, compared to 0.2 percent...
Continue Reading • 29 Dec 2009
Keppel Land pays $180 million for site in China
Keppel Land has purchased a site located in northeast China through its wholly-owned subsidiary, Da Di Investment, for $180 million. A residential township is being planned on the 30-hectare parcel of land, which is in Shenyang. It will comprise some commercial developments and around 6,000...
Continue Reading • 29 Dec 2009
Malaysia: all set to draw in foreign investment
Malaysia intends to internationalise its real estate and aims to generate RM20 billion from foreign investment for the next ten years to counteract a drop in private investment.The Malaysia Property Incorporated (MPI), a new public-private entity, was assigned to improve the foreign investment...
Continue Reading • 29 Dec 2009
ADB: Asia seems to be on the mend
The economies of Asian countries appear to have survived the worst of the worldwide recession, said the Asian Development Bank (ADB). However, the Asia Economic Monitor warns that the way to a total recovery is hazardous.The largest threat to progressing recovery determined by the report of ADB...
Continue Reading • 28 Dec 2009
Rental rates in Taipei forecasted to increase
Rental rates and housing prices in Taipei City could continue to surge, according to real-estate brokers.The latest list of Asia's most expensive places to live, which is published by Forbes magazine, showed that Taipei was ranked 16th with an average monthly rent of US$1,065 for a high-end...
Continue Reading • 28 Dec 2009
Chinese premier promises to cool down property prices
Chinese Premier Wen Jiabao said the Chinese government will cool down property prices, rest pressure for the yuan and keep inflation rates at “reasonable” levels.“Property prices have risen too quickly in some areas and we should use taxes and loan interest rates to stabilize...
Continue Reading • 28 Dec 2009
Fortune REIT raises funds to purchase Hong Kong malls
Fortune REIT is raising funds amounting to approximately $930 million or HK$5 billion through rights issue and debt facilities, conjoining the spate of S-REITs, which rolled out their re-funding plans.A term loan of HK$480 million and the majority of the gross proceeds, amounting to HK$1.9...
Continue Reading • 28 Dec 2009
HK shop sold for $127,000 psf
A well-known entertainment company in Hong Kong has paid $108 million for a shop located in one of the busiest districts, according to a report.The sale of the 1,212 square feet shop comes as the HK government tried to contain increasing property costs due to fears that they are becoming...
Continue Reading • 24 Dec 2009
Asian market surges as stronger US housing suggests economic recovery
The stock market in Asia closed higher on Wednesday after a gain in US housing, suggesting that the world’s largest economy is starting to pick up.Sydney, Seoul and Shanghai surged after major US indexes gained and home sales in November jumped 7.4 percent, above a predicted 2.5 percent...
Continue Reading • 24 Dec 2009
Analysts predict a more positive US property market outlook for next year
The US property market is expected to recover next year, as it moves closer to stabilization, according to the latest forecast.The 2010 property market in the US is projected to appreciate, showing the development of the improving trends in many markets in the US, according to 2010’s Best...
Continue Reading • 24 Dec 2009
London’s top-end residential market ends 2009 on a high
Liam Bailey, Knight Frank’s head of residential research, has just presented the firm's Prime Central London Index for December 2009. “The top-end of the London residential market saw a remarkable revival during 2009. With a strong 2.1% growth in December, prices have now risen 13.8%...
Continue Reading • 23 Dec 2009
Property sector in Vietnam to work on improving financial and legal frameworks
Enhanced financial and legal frameworks are needed if Vietnam’s emerging real estate market is to grow into a sustained property environment.Vietnam’s property sector will grow and attract investors next year, but several problems such as environmental pollution, rapid urbanization...
Continue Reading • 23 Dec 2009
GIC to pay A$260 million for retail stake in Perth
GIC Real Estate, the global investment arm in Singapore, will purchase from Dexus Property Group a half stake in a regional shopping centre in Perth, the Australian Financial Review reported.GIC will shell out A$260 million ($229 million) for the Whitford City property, making it the second...
Continue Reading • 23 Dec 2009
The lowdown on the Christmas decline
The performance of the Australian property market has fared well in 2009, based on the RP Data Rismark Monthly Home Value Index report. It also showed that most capital cities saw its property values increasing well above the previous peak. The national property values were 10 percent higher over...
Continue Reading • 21 Dec 2009
Where are property prices in Asia heading
Property prices in some parts of Asia have climbed sharply, prompting policymakers to rein in the sector and triggering worries about the formation of bubbles.Here are some questions and answers on where prices are headed, where potential bubbles are, how they affect shares, and the policies that...
Continue Reading • 18 Dec 2009