Prime London home prices reach new heights
Prices of luxury homes in central London soared for a 14th consecutive month in December, as foreign buyers sought safer investments and jostled for relatively fewer properties for sale, according to Knight Frank LLP.The London-based broker revealed that values of apartments and houses costing an...
Continue Reading • 10 Jan 2012
China may spread property tax to Nanjing, Guangzhou
China may extend its property tax scheme to cities such as Nanjing and Guangzhou and some second- and third-tier cities in the country’s midwest, according to Shanghai Securities News.The government “won’t rule out the possibility of implementing the tax” in the cities...
Continue Reading • 9 Jan 2012
S'pore, M'sia PMs preview Medini Integrated Wellness Capital
The concept for the Resort Wellness development in Medini Central was presented to both Singaporean and Malaysian prime ministers, along with their respective ministerial delegations, in Putrajaya yesterday. Known as the Medini Integrated Wellness Capital, the 210 acre development is located near...
Continue Reading • 6 Jan 2012
China's home prices down for fourth month
China’s residential property prices declined for a fourth month in December following the government’s announcement that it intends to maintain its property cooling measures, according to SouFun Holdings Ltd.SouFun, China’s largest real estate website owner, revealed that home...
Continue Reading • 5 Jan 2012
Harsh winter for Beijing home sales
Sales of new and existing homes in Beijing plummeted 18.4 percent and 38.2 percent respectively last year, due to the government's efforts to cool the property market.According to the city's housing regulator, new home sales in Beijing slumped to 90,605 units from a year ago. In terms of sq ft,...
Continue Reading • 3 Jan 2012
Chinese investors prefer funds to property
Many Chinese investors favour funds and other investment products over property, according to the People’s Bank of China quarterly survey.In a survey of 20,000 individuals in 50 cities across mainland China, only 16.5 percent listed property as their primary investment choice, a decrease of...
Continue Reading • 28 Dec 2011
China to expand property tax reforms next year
China will widen its pilot property tax programme next year while speeding up resource tax reforms, according to Finance Minister Xie Xuren.“We will summarise the experience from property tax reforms being experimented with and steadily push forward the reforms,” said Xie.Officials...
Continue Reading • 27 Dec 2011
Ascott unit to manage CapitaMall Wusheng's serviced residences
Ascott Property Management (Shanghai) (APMS) has been appointed the manager and technical adviser for CapitaMall Wusheng's serviced residences.Under the management agreement, APMS will manage the property under the Somerset brand for an initial renewable term of 10 years. It will also provide...
Continue Reading • 27 Dec 2011
Lower plot prices in HK shock experts
Two property sites in Hong Kong – one in Lantau and the other in Hung Hom – have fetched far lower prices than earlier predicted, surprising many real estate experts.A 24,326 sq ft residential plot in Mui Wo, Lantau was sold to Sino Land for HK$55 million (S$9.16 million) or HK$1,113...
Continue Reading • 23 Dec 2011
S'poreans love affair with London to continue
London property will continue to remain an attractive proposition for Singaporean buyers and investors during 2012, according to UK-based agents and developers.The number of local buyers in the market has been increasing throughout 2011, although in recent months the actual percentage of overseas...
Continue Reading • 22 Dec 2011
China property market cooling
China’s property market is still witnessing a slowdown, as home prices dropped for the third straight month, while the average value of residential properties across 100 cities declined to CNY8,832 (S$1,807.30) per sq m last month. In the 10 first-tier cities such as Shanghai and Beijing,...
Continue Reading • 21 Dec 2011
UK home sellers cut asking prices
Home sellers in the UK cut their asking prices last month amid a “challenging” property market for next year, according to Rightmove plc.According to the company, average asking prices in England and Wales have decreased by 2.7 percent from November to £225,766 (S$457,400). UK...
Continue Reading • 20 Dec 2011
HK luxury rents may drop 10%
Rents of luxury homes in Hong Kong could drop 10 percent next year, as hedge funds and banks scale back due to the threat of a looming global recession, according to Colliers International and Jones Lang LaSalle (JLL).“We're definitely at that tipping point,” said Anne-Marie Sage,...
Continue Reading • 20 Dec 2011
Phuket's priciest property goes on sale
For a mere S$23.3 million (THB558 million), you can buy Villa Verai – currently the most expensive property on the market on the Thai island of Phuket. The largest villa in the luxury Cape Yamu development on Phuket’s east coast is set in more than 16,000 sq m of land, and was...
Continue Reading • 20 Dec 2011
Govt curbs ease housing inflation in Beijing
China’s housing inflation eased to its lowest level in November this year, primarily due to Beijing’s efforts to rein in high property prices.New home prices climbed 2.2 percent last month, the weakest gain so far this year, in comparison to 2.8 percent in October.According to the...
Continue Reading • 19 Dec 2011
Decline in number of overseas prime London buyers
The proportion of international buyers of Prime Central London property dropped to 56 percent in the third quarter of 2011 – down from 73 percent during the previous three-month period.Against a backdrop of strong international demand during the first half of 2011, Hamptons International's...
Continue Reading • 16 Dec 2011
New property measures to shift spotlight on Johor
The rise of expensive private homes in Singapore, primarily attributed to the government’s new property tax measures, could turn the spotlight on Johor property next year.According to some analysts, Johor is expected to benefit from the recent residential cooling measures in Singapore, with...
Continue Reading • 16 Dec 2011
Non-UK buyers driving up London's property prices
Prices of prime central homes in London now stand at an average £800,000 (S$1.62 million), up nearly 40 percent since the credit crunch low in March 2009, attributed to non-UK buyers who see London as a safe haven.With Singapore’s latest round of cooling measures, many overseas...
Continue Reading • 15 Dec 2011
Malaysia, Indonesia highlighted for 2012
Senior executives from the global travel industry have identified Sri Lanka, Indonesia, Malaysia, Mexico and Argentina (SLIMMA) as tourism’s most important emerging economies for 2012, and rivals to the BRICS - Brazil, Russia, India, China and South Africa.More than 1,000 people were polled...
Continue Reading • 15 Dec 2011
China property cooling measures will stay
China has no plans of easing its grip on property cooling measures, underscoring Beijing's determination to lower prices further, according to an official.“Our short-term target is on prices, but in the long run, we should focus on the whole property-related system,” said Xia Bin, an...
Continue Reading • 14 Dec 2011