A Sydney harbour-front mansion has been sold to a Chinese-born businessman for A$53 million (US$54.3 million), setting a new property record for the city, reports said Thursday. The eight-bedroom, seven-bathroom house "Altona" in prestigious Point Piper had been on the market for several years, having been bought in 2002 for A$28 million by a former publishing executive. The Australian Financial...
Overseas Property
Iskandar Malaysia in Johor has been attracting wide media attention of late, with interest peaking in the middle of last month, when the Prime Ministers of Singapore and Malaysia officiated at the launch of several joint projects undertaken by the private sector of both countries. After seven long years and several false starts since it was launched in 2006, is Iskandar finally taking off? Many Singapore...
The territory’s government yesterday announced comprehensive curbs in an attempt to arrest the exuberance in the property market that it warned could destabilise its economy. The measures come a month after Singapore unveiled wide-ranging measures to cool property prices. Beginning today, Hong Kong will double the stamp duty to as high as 8.5 per cent of the property value for certain transactions,...
The overheating property market remains the biggest risk factor to the stability of the Hong Kong economy, Mr Norman Chan, head of the Hong Kong Monetary Authority, said yesterday, adding that household debt was now at 59 per cent, close to the record high of 60 per cent in 2002. Only three months after Hong Kong rolled out a tough new round of cooling measures, home prices have again climbed to record...
Iskandar Malaysia, a special economic zone in Johor Bahru, has been in the media spotlight in recent years. It is attracting new investments and there is growing interest in residential properties there as well. Property analysts say the publicity has heightened interest in homes in Iskandar, but buyers should evaluate other options as well. Medini is one of the five flagship zones at Iskandar Malaysia...
Several local governments in China have announced new measures to restrict financing to potential homebuyers, triggering concerns about a fresh wave of tightening for the property sector, Dow Jones Newswires reported on Tuesday. Word of the measures comes as home prices in major Chinese cities started rising in the second half last year after declining since late 2011 as the central government’s strict...
The Prime Ministers of Singapore and Malaysia launched two wellness projects in Medini at Iskandar Malaysia and a mixed development project at Danga Bay in Johor Bahru on Tuesday. Fresh from the launch of joint development projects in Singapore, Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak travelled to neighbouring Johor Bahru where the two wellness developments were...
Global Capital & Development (GCD), the lead investor of Medini in Iskandar Malaysia's Nusajaya development zone, says the region has attracted some S$2 billion in investments from Singapore since 2006. GCD says investment from Singapore in Iskandar Malaysia is set to soar; Singapore is already the single largest foreign investor in the region. Link (THM) Holdings, a Singapore developer, is the...
Developer says foreigners will be attracted to resort projects in places like Hua Hin, Phuket Thailand’s Sansiri Group, one of the country’s largest developers, is looking to sell more homes to Singaporeans and other foreigners as the Thai property market recovers from the devastating effects of last year’s floods. “Prices here are so much cheaper than in Singapore and we have a lifestyle here...
Hong Kong monetary chief Norman Chan said more measures might be necessary to cool the city’s housing market as elevated household debt added to risks from property price gains over the past four years, Bloomberg news agency reported on Monday. Debt is “near historic high levels,” Mr Chan, the chief executive of the Hong Kong Monetary Authority (HKMA), told lawmakers, citing ratios of 58 to 59 per...