The Obama administration on Friday declared that the public-private housing finance model in place for the past four decades was dead but pledged to continue backing exisiting obligations of Fannie Mae and Freddie Mac. "The GSE model is dead," a White House official told reporters, referring to the government-sponsored enterprises Freddie and Fannie, as the United States Treasury Department released a...
Overseas Property
Residential property prices in China rose 0.95 per cent last month from a month earlier, up from December's increase of 0.90 per cent, a private data provider said yesterday. The China Real Estate Index System (CREIS) said home prices stood at an average 8,645 yuan ($1,677) per sqm in the 100 cities it covers in its survey. The CREIS data is closely watched by real estate investors who believe that it...
Singapore-listed property counters fell yesterday on concerns about more cooling measures in China to rein in stubbornly high housing prices. At the close of market, shares of Keppel Land were down 3.1 per cent at $4.32, CapitaLand fell 0.8 per cent to $3.58 and Yanlord Land dipped 1.9 per cent to $1.54. "In general, most people would not want to put their money into property counters in the short term,...
Mainboard-listed Yanlord Group and Reco Yizhong have jointly acquired a residential land site in Tianjin Jinnan District in China. Yanlord is a property developer specialising in developing high-end commercial and residential projects in Chinese growth cities, while Reco Yizhong is an affiliate of the Government of Singapore Investment Corporation (GIC) Real Estate. Both parties acquired the prime...
Hong Kong is the world's most expensive place to purchase a home because of a shortage of properties on the market, according to a study of four of the world's top cities by real estate consultancy Savills. Hong Kong is 55 per cent more expensive than London, based on an index published on Friday by Savills that compares the UK capital with the other cities. Moscow is 7.4 per cent more expensive than...
The Chinese cities of Chongqing and Shanghai yesterday announced the launch of a long-awaited property tax, a day after additional nationwide tightening measures unveiled late on Wednesday by the State Council, China's Cabinet. Chongqing is the world's biggest city with a population of some 32 million. Its mayor, Mr Huang Qifan, announced the pilot scheme yesterday, Chinese news portal Sina.com reported....
The Ascott, CapitaLand's wholly-owned serviced residence business unit, has entered into a joint venture with RMZ Corp, one of India's leading real estate developers, to develop a 203-unit serviced residence in Bangalore. Ascott will acquire a 50 per cent stake in the joint venture company for 151.75 million rupees (about S$4.36 million), while RMZ Corp will hold the remaining stake. The new Citadines...
New housing guidelines have been developed for the Tianjin Eco-city, which is a joint collaboration between China and Singapore. Under the new framework, at least 20 per cent of residential units will be set aside for public housing. On a visit Tianjin, Singapore's Minister for National Development, Mah Bow Tan, said the new model of public housing will tap on Singapore's housing experience. These...
CapitaLand's Australian subsidiary, Australand, said its industrial and residential properties in Queensland have been affected by the floods. CapitaLand announced in a filing with the Singapore Exchange that the situation for its Australian assets remains uncertain as the clean-up continues, and the full impact is yet to be determined. Australand's industrial assets at 44 Cambridge Street and 99...
The falling British pound has made London and other properties in the United Kingdom a bargain for Asian buyers, and its little wonder then that property agents are beating a path here to sell real estate. International property consultants Savills yesterday offered 52 units of one of London's most iconic apartment buildings, Strata SE1, to potential buyers here for an average of £781 ($1,580) per sq ft,...