The second phase of the iconic Battersea Power Station redevelopment in London is being marketed at more than twice its Phase 1 price, Malaysia’s The Star daily reported, with its Malaysian owners pulling out all the stops for the landmark site in the British capital. Launched in London yesterday, the 254 units in Phase 2 are priced at an average of £2,300 (S$4,870) per sq ft (psf), compared with...
Overseas Property
China’s slump in property sales and construction is spurring speculation that the government’s four-year-old campaign of real estate controls will start to crack. Citigroup analysts see “targeted easing” in curbs including home purchase restrictions, while Centaline Group, the parent of China’s biggest real estate brokerage, says some cities are inclined to adjust policies, such as the level...
The number of private-home completions in Hong Kong this year will reach its highest since 2004, said the government yesterday, further pressuring developers after a series of cooling measures forced them to cut prices. The number of flats forecast for completion this year is around 17,610 — a 113 per cent increase from a year earlier, said the Rating and Valuation Department. The government said...
Ascendas Hospitality Trust has agreed to buy the Osaka Namba Washington Hotel Plaza in Osaka, Japan for 8.9 billion yen (S$110.8 million) in a deal that would diversify its portfolio and boost returns. The purchase price that will be paid to Ainodake Godo Kaisha is 3.3 per cent below the independent property valuation of 9.2 billion yen made by Savills Japan. The hotel will continue to be leased to...
Cash-strapped Chinese are scrambling to sell their luxury homes in Hong Kong and some are knocking up to a fifth off the price for a quick sale as a liquidity crunch looms on the mainland. Wealthy Chinese were blamed for pushing up property prices in Hong Kong, where they accounted for 43 per cent of new luxury home purchases in the third quarter of 2012, before a tax hike on foreign buyers was...
Foreign investment in Australia's housing market will be examined by a national parliamentary committee, its chair said Monday, following a study that said Chinese investors are squeezing out local buyers. Kelly O'Dwyer said the House Standing Committee on Economics inquiry into affordable housing would probe the foreign investment framework to see whether it helps increase housing stock, and whether it...
Ho Bee Land continued its diversification into the United Kingdom by purchasing an office building that once served as London's General Post Office. The Singapore developer will pay ￡171 million (S$362 million) for the freehold property known as 1 St Martin's Le Grand, it said in a statement on Friday. "The acquisition of 1 St Martin's Le Grand is our second major office acquisition in the city of...
The Jumabhoy family, once the richest Indian family in Singapore, is developing luxury villas in the Indian city of Bangalore, and the units will be made available to investors in Singapore in a private preview this Saturday. This is the first property development under the Jumabhoy family name in more than a decade. The Jumabhoy family migrated from western India to Singapore in 1916, and made a...
Singapore property investors looking to park their money in a booming overseas market should take note that London’s housing market is beginning to show “bubble-like conditions” as overseas buyers bid up prices and locals take on more debt to purchase properties, according to a report by the EY Item Club. The average London home will cost about 600,000 pounds (S$1.25 million) by 2018, the...
The recent slump in the Malaysian Ringgit against the Sing dollar did not spark any frenzied property buying across the Causeway among Singapore investors, according to some real estate agencies. OrangeTee and SLP International Property Consultants observed that investors have become increasingly cautious about property investments in Malaysia. Iskandar Malaysia, a special economic zone north of...