UK Budget: No Mansion Tax
By Andrew Batt:UK Finance Minister George Osbourne steered clear of introducing a ‘Mansion Tax’ in the annual UK Budget statement.The move to introduce a tax on high-end homes that would have impacted the large number of overseas property buyers and investors had been widely predicted...
Continue Reading • 21 Mar 2013
Hong Kong top for price growth
By Andrew Batt:Hong Kong lead the world in house price growth during 2012 according to the latest Knight Frank Global House Price Index which was published yesterday.Mainstream property prices in Hong Kong rose on average by 23.6 percent during 2012. With supply lagging, demand from mainland...
Continue Reading • 20 Mar 2013
Price drop for UK's most expensive home
By Andrew Batt: At S$130 million it’s the UK’s most expensive home currently on the market – and the good news for buyers is that the price has recently been cut by an incredible S$60 million. Heath Hall (pictured) is a stunning Edwardian mansion in the Hampstead area of...
Continue Reading • 20 Mar 2013
S'poreans to become top Dubai buyers
By Nikki De Guzman:Investors from Singapore and Iran are expected to lead the list of top overseas buyer groups in Dubai this year, said Knight Frank. The consultancy noted that the number of global high-net-worth individuals (HNWIs) — those with a net worth of at least US$30 million...
Continue Reading • 19 Mar 2013
Ascott strengthens Citadines brand in Asia
By Shabnam Muzammil:The Ascott Limited (Ascott) has expanded its Citadines brand with the opening of two serviced residences - the 153-unit Citadines Rasuna in Jakarta, Indonesia and the 215-unit Citadines Uplands in Kuching, East Malaysia.“Ascott has been increasingly getting requests from...
Continue Reading • 19 Mar 2013
China gets new leaders, but same problems
By Nikki De Guzman:Despite more stringent efforts by China's outgoing government, recurrent issues in the property market will be inherited by the country's new leaders, reported Bloomberg.Existing leaders rolled out their last attempt to cool the market on 1 March, but the measures took its toll...
Continue Reading • 15 Mar 2013
More S'poreans eyeing luxury homes across causeway
By Shabnam Muzammil:Iskandar Malaysia and Kuala Lumpur are set to see more interest from Singaporeans looking for luxury residential properties, noted Knight Frank Malaysia.Sales will be partly driven by the recent announcement of a high-speed rail development that will considerably reduce travel...
Continue Reading • 15 Mar 2013
US county prepares for property boom
By Nikki De Guzman:New London County located in the southeastern corner of the US state of Conneticut is set to become one of the country's best performing housing markets over the next five years, with home values expected to rise by an average of 7.1 percent per year. According to...
Continue Reading • 14 Mar 2013
Dubai to get a rainforest-skyscraper
By Shabnam Muzammil:The model of a skyscraper covered with plants and trees will be showcased at the Outdoor Design Build & Supply Show in Dubai later this month. The new tower is part of the growing popularity of eco-friendly projects in the United Arab Emirates. Designed by French architect...
Continue Reading • 14 Mar 2013
Germany trumps UK as most attractive property locale
By Romesh Navaratnarajah:Germany has emerged as the most attractive real estate market in Europe for 2013, outshining the UK as investors venture back to the continent due to the unlikely break-up of the Eurozone, according to a research survey by CBRE. The study, which polled 362 investors...
Continue Reading • 14 Mar 2013
Buyer interest in Thailand luxury homes to continue
By Shabnam Muzammil:Despite last year's floods, Thailand's property market remains resilient, with Bangkok recording a growth of 9.4 percent last year, while demand for Phuket's luxury properties climbed 4.7 percent. In particular, condominiums in Bangkok proved a hit with buyers. Knight...
Continue Reading • 14 Mar 2013
Iskandar property prices may surpass Klang Valley
By Farah Wahida:Spurred by the mega government-to-government joint venture projects and strong support from Singapore, Iskandar’s property market is expected to catch up with that of Malaysia’s Klang Valley, according to Kenanga Research and reported The Borneo Post.The research house...
Continue Reading • 14 Mar 2013
China property bubble will burst in 2013: analyst
By Shabnam Muzammil: An analyst has forecasted that China's property bubble will burst in the second half of 2013 once the government stops "injecting ridiculous amounts of credit into the economy". Gillem Tulloch, founder of Hong Kong-based research firm Forensic Asia, noted that the...
Continue Reading • 14 Mar 2013
New London project launching in town
By Romesh Navaratnarajah: Singapore buyers and investors still see London as a safe haven for property investments, more so now after January’s cooling measures. To cater to this strong interest, UK developer Regal Homes will launch a new 91-unit residential project at an exhibition at...
Continue Reading • 13 Mar 2013
MIPIM set for China expansion
By Andrew Batt: Real estate exhibition organisers Reed MIDEM have revealed plans for a new event – MIPIM China – which is set to take place in Shanghai in 2014.The 8th edition of MIPIM Asia will take place in Hong Kong on November 5-6, 2013 and will focus exclusively on a high-level...
Continue Reading • 13 Mar 2013
Plans for London 'floating village'
By Andrew Batt: The Mayor of London has unveiled ambitious plans to create the UK's largest 'floating village' as part of his on-going drive to transform London's Royal Docks.Launching an international competition to find developers and London partners to design and deliver the scheme, Mayor...
Continue Reading • 13 Mar 2013
Euro fund sells luxury Brussels property for S$89m
By Romesh Navaratnarajah: A prime mixed development in the bustling Belgian capital Brussels has been sold for €55 million (S$89.4 million). Eurozone Equity, an actively managed equity fund with the help of Savills sold the property, known as Louise Village to local private...
Continue Reading • 12 Mar 2013
Two-year high for UK house sales
By Andrew Batt: The number of houses sold in the United Kingdom reached its highest level in over two-and-a-half years in the three months ending February, according to the latest Royal Institute of Chartered Surveyors (RICS) Housing Market survey.During February, the increasing market stability...
Continue Reading • 12 Mar 2013
Bali hotspot a hit with rich foreign buyers
By Shabnam Muzammil:Wealthy foreigners have ignited a property frenzy in the once sleepy seaside village of Seminyak in Bali, Indonesia, transforming the town into a major market for luxury real estate, reported The Guardian. “Capital appreciation has been substantial (in Bali) in the past...
Continue Reading • 12 Mar 2013
Dubai home prices to surge in 2013: report
By Nikki De Guzman:Luxury properties in Dubai saw the second highest global increase in prices last year, according to the latest Knight Frank Wealth Report.The value of high-end properties in the emirate climbed 20 percent alongside the resort island of Bali, but were behind Indonesia's capital...
Continue Reading • 12 Mar 2013