London's mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday (Sep 29). "It's clear we need to better understand the different roles that overseas money plays in London's housing market, the scale of what's going on, and what action we can take to support...
Overseas Property
London's mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday. "It's clear we need to better understand the different roles that overseas money plays in London's housing market, the scale of what's going on, and what action we can take to support development and...
New York has knocked off London as the world's premier city for foreign investment in commercial real estate due to fears the vote to leave the European Union would diminish the British capital's appeal as a global financial center. Data on cross-border property transactions indicate greater unease among investors prior to the referendum, which voters unexpectedly approved on June 23, than had been...
United Overseas Bank (UOB), Singapore's third-largest lender, has suspended its loans programme for London properties in the wake of uncertainties caused by Britain's vote to leave the European Union. UOB would be among the first banks in Singapore to turn cautious on such lending, even though it is not a large amount, as Brexit spooked global markets and pushed the pound to multi-year lows. "We will...
THE Straits Trading Company's subsidiary, Straits Real Estate, has entered into a conditional purchase and sale agreement with Osaka-based developer Chinju Co to acquire three residential buildings located in Central Osaka for 6.2 billion yen (S$76.8 million). Completion of the acquisition is expected to take place by end-June. "The acquisition will complement Straits Real Estate's existing...
All 391 apartments offered by LendLease Group at a project in Sydney were snapped up in just four hours on Saturday, indicating demand for inner-city homes remains buoyant despite looming oversupply. More than 400 potential buyers turned up from 8 am in Darling Square, a development on the western edge of Sydney's central business district, for the apartments that were priced from A$630,000 (S$624,000)...
The Malaysian fund that invests on behalf of the country's 18 million Muslims plans to offer the London headquarters of law firm King & Wood Mallesons for sale, according to one of its investment managers. Gatehouse Bank Plc, which manages some real estate investments on behalf of the Lembaga Tabung Haji, has hired broker Savills Plc to find a buyer for the office building at 10 Queen Street Place, the...
PARK Gallery, a townhouse development located at Cova on Australia's Hope Island, is sold out, Frasers Property announced on Wednesday. Since launching in November, Frasers Property Australia, the Australian division of Frasers Centrepoint Limited, has achieved more than A$28 million (S$28.9 million) from the sales of 60 townhouses at Park Gallery. The 60 "architecturally designed" Park Gallery...
Housing-obsessed Britons have something new to fixate on: property prices may have increased more than previously thought. A new official house-price index, designed by the Office for National Statistics, shows values rose an annual average of 6.1 per cent between 2003 and 2011. That's substantially more than the Land Registry's estimate of 4.6 per cent. The updated methodology seeks to clarify the...
City Developments Ltd said it was investing in a A$275 million (S$281.7 million) residential development in Brisbane, its first housing project in Australia in over a decade. The Singaporean company said it was teaming up with Australian developers Abacus Property Group and KPG Capital for the project, which will be developed into two 30-storey towers with 472 apartments. "Brisbane's residential...