Hong Kong home prices fell the most in four-and-a-half years in the week ended July 7, on concerns that interest rates will begin to rise if the US Federal Reserve phases out its monetary easing program later this year, the Bloomberg news agency reported. Prices fell 1.8 per cent during the week, the most since November 2008, according to an index compiled by Centaline Property Agency, the city’s...
Overseas Property
Developers are expected to put the brakes on home sales for the rest of the year after government curbs to rein in prices sapped demand, according to BOCOM International Holdings and Centaline Property Agency. “The pace of sales will remain slow unless there’s something encouraging developers to turn over assets faster,” said Mr Alfred Lau, a Hong Kong-based analyst at BOCOM. He added that they...
Commercial real estate has long had a place in the portfolios of wealthy investors, who see it as a useful diversification away from residential property and the more volatile assets such as stocks or bonds. But lately, the trend has accelerated, in particular among Singaporean and other Asian investors, who are taking advantage of the strength of their currencies and the environment of low interest...
More property investors are giving Singapore a miss and are snapping up homes in Iskandar Malaysia instead after the government raised the additional buyer's stamp duty (ABSD) earlier this year. Real estate agencies Propnex and OrangeTee said they have seen an increase in sales transactions and enquiries for homes in Iskandar Malaysia in Johor Bahru, and a lot of that demand is from Singaporeans. In...
Plans to raise property tax rates for foreign home buyers in Johor at the end of the year appear not to deter Singaporeans from buying units at the Afiniti Residences in Medini Iskandar Malaysia. It is a joint venture between Khazanah Nasional and Temasek Holdings. Singaporeans made up 25 percent of the buyers. All 147 units were snapped up during Saturday's launch. Malaysians accounted for 72...
Afiniti Residences in Medini Iskandar Malaysia, a joint venture between Khazanah Nasional and Temasek, has been sold out on the day of its launch. The developer said 25 per cent of the buyers are Singaporeans and 72 per cent of the buyers are Malaysians. Prices started from RM500,000 for a studio apartment to less than RM1 million for a 2+study unit, or RM850 to RM1,000 per square foot. The...
There has been strong demand from Singapore for a residential development in Iskandar that is being constructed by Pulau Indah Ventures (PIV), a 50:50 joint venture between Temasek and Khazanah Nasional. According to a statement from the developer, out of the 1,570 applications for Afiniti Residences, around 500 have come from Singapore. Afiniti Residences is a 147-unit premium strata residence...
Plans to raise taxes on properties owned by foreigners in Johor are not likely to affect demand from Singaporean investors. Industry players said that is because current tax levels are relatively low, and property tax makes up a very small component of a home owner's total cost. Property tax rates are set to increase for foreign home buyers in Johor at the end of the year. On Sunday, local...
Singapore-based Pacific Star Development has invested in a prime 339,800 sq ft waterfront freehold site in Puteri Harbour, Iskandar Malaysia, to develop an integrated mixed-use project with a gross floor area of about 1.3 million sq ft. Acquired for RM93.3 million (S$38.8 million) from UEM Land, the master developer of Puteri Harbour, Pacific Star plans to develop apartments, SOHO units and a lifestyle...
Singapore companies are still upbeat about investment prospects in Malaysia, especially in the Iskandar region in Johor. With the general election and political uncertainties out of the way, some have said it is also a good time to consider raising their investments. Business relations between Singapore and Malaysia have rarely been on more solid ground. Singapore companies are among the biggest...