1st Citadines project by Ascott launched in Malaysia
Ascott Ltd, the wholly-owned serviced residence arm of CapitaLand, yesterday launched its first Citadines project in Malaysia.The Citadines Kuching Uplands, together with other projects that are scheduled to open in Malaysia, will more than double the current portfolio of Ascott in the area to a...
Continue Reading • 17 Dec 2009
Number of US homeowners receiving foreclosure notices falls
The number of homeowners receiving foreclosure notices fell in November, the fourth consecutive monthly decline, as mortgage firms evaluated whether borrowers were qualified for assistance.One in every 417 homes or 307,000 households on the verge of foreclosure were down to 8 percent from a month...
Continue Reading • 16 Dec 2009
UK housing price recovery stalls
The recovery of the housing market in the UK will peter out next year, as supply of homes surge due to forced sales, said Rightmove plc.The average asking price will idle in 2010 after a 2 percent increase this year, said the biggest property website in the UK. Prices dropped 2.2 percent this...
Continue Reading • 15 Dec 2009
$500 billion worth of US property values wiped off this year
About $500 billion has been wiped off the US residential property values this year, but this figure is less than the 2008 values. Research shows that almost one in three markets has seen price increases this year.The recent Zillow Real Estate Markets Report showed that losses slowed significantly...
Continue Reading • 14 Dec 2009
UK housing market making a comeback
The UK housing market is making a comeback as investor demand for rentals disappears and home buyers reject 'little box' apartments. Single-family attached houses accounted for approximately 24 percent of all residences started in England from January to September. According to the National...
Continue Reading • 10 Dec 2009
Mega property projects in KL back on track
Construction players and developers are all in favour of mega property projects in the pipeline for Kuala Lumpur, especially the proposed development of a 100-storey skyscraper project, near the Matrade Centre.Ng Kee Leen, president of Master Builders Association of Malaysia (MBAM), said...
Continue Reading • 8 Dec 2009
Is it goodbye for Dubai?
Dubai's property market has crashed. Among the five artificial offshore islands that were being built to accommodate homes for millionaires, four remain in the planning stage. Dubai is wallowing in debt. The crisis started last year, during the peak of the property bubble and when the cranes...
Continue Reading • 4 Dec 2009
Property tax woes in Malaysia
Property sellers rushing to sell-off their real estate in Malaysia, to avoid paying real property gains tax (RPGT) could find their efforts wasted as property disposal requires government consent.Obtaining the government’s official approval could push the sale up until after December 31, a...
Continue Reading • 4 Dec 2009
UK residential rents increasing as demand rises and supply decreases
Residential rents are expected to increase next year as the UK property market improves, according to a new survey.The survey from Rightmove, a property website in the UK, showed that over one-third of people who plan to rent a property for the next 12 months expects the rental rates to increase,...
Continue Reading • 4 Dec 2009
5th Ascott serviced residence opens in Beijing
Ascott Group, the wholly-owned serviced residence business unit of Capitaland, has launched its fifth serviced residence in Beijing.This project is the first joint venture between Ascott serviced residence and Raffles City. They intend to offer an integrated lifestyle development featuring an...
Continue Reading • 3 Dec 2009
Shimao Group begins work on Eco-City's largest property project
Shimao Property Holdings, a Chinese investment holding company, has just started work on a new property project at the Sino-Singapore Tianjin Eco-City. It is considered to be the largest property development in the area to date.Scheduled to be completed by 2014, the expected investment for the...
Continue Reading • 2 Dec 2009
Australia and Israel are the best performing property markets
Australia's property market came out as one of the leading performers in Q3 2009. It trumped most of the housing markets in the major economies, according to the latest ranking conducted by Global Property Guide.According to the report, the housing market in Australia recorded a solid price...
Continue Reading • 30 Nov 2009
Aussie economy lures offshore property investors
The resurgent economy in Australia has lured many foreign commercial property investors. Many have bet the rebound will underpin the competitiveness of the market amid the surging local currency.Two German firms, asset manager Commerz Real and property fund manager Deka Immobilien, are...
Continue Reading • 25 Nov 2009
Australian property market losing its appeal
The property market in Australia has become less compelling for funds seeking high returns due to the rapid asset price recovery and high taxes. According to a leading executive at LaSalle Investment Management, there are more attractive options in Singapore and Japan.Ian Mackie, Chief Investment...
Continue Reading • 20 Nov 2009
Another expected stimulus package in February
The government of Malaysia is tipped to bring out its second package of economic stimulus worth RM7 billion (S$2.92 billion) to RM10 billion (S$4.17 billion) in the next coming month.In March, Najib Razak, the Deputy Prime Minister of Malaysia, will soon become the prime minister of the country....
Continue Reading • 19 Nov 2009
Indian hotels fight recession with freebies
The recent terror attacks and ongoing global crisis slow down the inbound tourism industry, with occupancy rates for most first-class hotel have plunged substantially. According to the recent reports of the Federation of Hotel and Restaurants Associations of India (FHRAI), the decrease is about...
Continue Reading • 19 Nov 2009
Phoenix reels from housing collapse results
For several years, Phoenix city has been an arid region in the south-western part of the United States and has benefited from a remarkable growth because of the well-known business saying, “Retail follows rooftops”.The idea was very simple: roads, schools, and malls – a mini...
Continue Reading • 19 Nov 2009
Eastern Europe crisis goes western
The Eastern Europe’s crisis, which begun since the worldwide credit crunch, is now raging. The sirens are also sounding for Western Europe’s governments and banks. The most evident sign of the crisis is the downfall of the east European currencies as the capital of the western beats a...
Continue Reading • 19 Nov 2009
US housing construction sector slows down in October
The US housing construction sector experienced a decline in October as the economy struggled to rise from the recent recession sparked off by the home mortgage meltdown, according to government data released this week.The US Commerce Department said the construction of privately-owned...
Continue Reading • 19 Nov 2009
Plummeting prices of luxury condo in KL
Luxury condo prices in the area of Kuala Lumpur City Centre (KLCC) have plunged 15 to 20 percent as the economic downturn occurs and foreigners attempt to cash out the best they can have, says a consultant of real estates.In 2004, during the recovery process after the Asian financial crisis in...
Continue Reading • 18 Nov 2009