The threat of a global economic slowdown is intensifying risks in Hong Kong's home market and the government will monitor housing policies designed to curb prices, said Financial Secretary John Tsang. "The deepening of the European debt crisis and stalling growth in the United States could affect Hong Kong's economy and may bring turmoil to global financial markets," Mr Tsang told lawmakers in Hong Kong...
Overseas Property
The Ascott Limited (Ascott), a wholly-owned subsidiary of CapitaLand, has secured a contract from Nusajaya Consolidated Bhd to manage the Somerset Puteri Harbour Iskandar, its first serviced residence in Iskandar, Malaysia. Scheduled to open in 2013, the 204-unit project will be developed in a new joint venture between Malaysian developers UEM Land Bhd and United Malayan Land Bhd. Somerset Puteri Harbour...
Singapore-listed Chinese developer Yanlord Land Group has bought two adjacent residential sites in the southern Chinese city of Zhuhai for 3 billion yuan (S$598 million) together with Ho Bee Investment and Shanghai Youyou Group. The sites have a combined gross floor area of 499,329 sq m and were purchased at an average 6,000 yuan per sq m, Yanlord said yesterday. Yanlord will own 60 per cent of the joint...
Finally! After a long wait since your Sale and Purchase Agreement (SPA) signing, your property in Malaysia is ready for handover by the developer. Here are some things to keep in mind to ease the experience of taking over your new home. Issue of Vacant Possession Vacant Possession (VP) refers to the condition of a property when it is fully completed but not fit to be occupied. To protect your interest,...
At the age of 70 when most people are retired, former Labour Permanent Secretary Han Cheng Fong has decided to strike out on his own with a focus on China, where he has done deals for former employers like DBS Land and Fraser & Neave. His first project, in a joint venture with a Hong-Kong based Chinese lady whom he declined to name, is an office, shopping and hotel complex in Chengdu, which he values...
China's new-home prices rose last month in all 70 cities monitored by policymakers, challenging the government's efforts this year to control property prices. Prices in Beijing rose by 1.9 per cent from a year ago, while those in Shanghai, the nation's financial centre, increased by 2.8 per cent, the statistics bureau said on its website yesterday. China's measures to control its property market are at a...
The Ascott, CapitaLand's wholly-owned serviced residence business unit, has increased its presence in India with the soft opening of its first Somerset brand of serviced residence. The 187-unit Somerset Greenways Chennai follows the recent opening of the 96-unit Citadines Richmond Bangalore. Ascott has five other serviced residences in India which are under development in Ahmedabad, Bangalore, Chennai...
China's home price rose at its slowest rate this year as tightening measures led to a decline in transactions, the Dow Jones news agency reported Thursday. Housing prices edged up slightly by 0.07 per cent in August from July, compared with July's 0.21 per cent on-month increase, according to the China Real Estate Index System. However, from a year earlier, the average price for new properties was up 6.9...
CapitaLand's wholly-owned serviced residence business unit, Ascott, has won two new contracts to manage properties in Chengdu and Beijing. The properties are the 181-unit Ascott Financial City Chengdu, which is slated to open in 2014, and the 187-unit Somerset Wangjing Beijing, which is scheduled to open a year later. With the two additional properties, Ascott said it is on track to achieve 12,000...
Luxury-home prices in central London climbed the most in nine months this month as the increasing risk of a global recession prompted investors to seek a haven for their wealth. According to real estate consultancy Knight Frank, the values of houses and apartments costing an average of £3.7 million (S$7.28 million) rose 10.5 per cent in the 12 months through August. "There's a lot of money out there...