Singaporean property investors are already looking overseas in ever larger numbers after the introduction of the most recent attempts to cool the local market earlier this month. Developers and agents reported raised levels of interest and strong sales at the 14 overseas property exhibitions which took place last weekend. Although no official records are kept for the number of Singaporeans buying...
Overseas Property
Malaysia: Johor state will review procedures and conditions for foreigners to own houses due to spiralling house prices in the state, especially in Iskandar Malaysia. Bernama news agency quoted Local Government, Housing, Arts, Culture and Heritage Committee chairman Ahmad Zahri Jamil as saying that the state Economic Planning Unit (UPEN) was studying ways to tighten the rules on foreign ownership. He...
Home prices in the United Kingdom declined last month and may fall "modestly" this year because of a weak economic recovery, Nationwide Building Society said yesterday, but the London market that is popular with Singaporean and other Asian investors stayed resilient. The average cost of a home slipped 0.1 per cent to £162,262 (S$ 321,900) in December from the previous month, the UK lender said. From a...
Average home prices in China's 100 major cities edged up 0.03 per cent last month from December a year earlier, snapping eight months of decline and reinforcing signs of a property market recovery in Asia's largest economy, a widely-followed survey showed on Friday. The data from the China Real Estate Index System (CREIS) added to evidence that the real estate market has found support from broad monetary...
Iskandar Malaysia was launched in November 2006 with the aim of developing the southern Johor region into a strong and sustainable metropolis of international standing. With a total area of 2,217 sq km, the region will have five flagship zones including the Johor Baru City Centre, Nusajaya and Senai-Skudai, and will incorporate work, live and play elements. A number of key projects have been planned to...
Frasers Hospitality has strengthened its presence Down Under with the opening of Fraser Place Melbourne, bolstering the firm's portfolio of premium-serviced residences in Australia's key gateway cities. Located in Melbourne's entertainment quarter and within a short walk from the city's financial district, Fraser Place Melbourne features 112 studio residences with integrated living, dining and kitchen...
A downtown plot of land in Shanghai has been sold at the highest price this year as a recovery in sales boosted developers' expectations for a market rebound even as the government maintained property curbs. The 1.2 million-sq-ft site near Shanghai South Railway station was sold yesterday for 5.4 billion yuan (S$1.06 billion), according to the local land reserve centre. A group of four companies, led by...
Property developer Far East Orchard (FEOrchard) signed a memorandum of understanding with Australia-based hotel operator Toga Pty (Toga Group) on Wednesday which will explore the setting up of a proposed joint venture. Under the agreement, the proposed joint venture will serve as a hotel management and ownership platform in Australia. Plans are also in the pipeline for the proposed joint venture to...
Hong Kong is at risk of an abrupt decline in property prices after gains fuelled by low interest rates and a limited supply of new housing, the International Monetary Fund (IMF) said. "The property sector is the main source of domestic economic risk," the IMF said in a report on the city released today. The odds of a slump that has major economic and financial consequences is "fairly low in the near...
Global housing markets posted mixed signals during the full year ending Q3 2012 according to the latest survey of global house price trends by the Global Property Guide. The bad news is strongly concentrated in Europe as the scale of the European downturn, the sheer size of the downward pressure, continues to surprise. Seven of the 10 Asian housing markets included in the survey performed more poorly...