Shunned Chinese buyers to turn from Canada to Australia

Canada’s government recently made an abrupt decision that could have repercussions for Australia’s already overvalued residential property market. Canadian Finance Minister Jim Flaherty on February 11 announced that a 28-year-old visa scheme designed to attract wealthy foreigners to the country would be axed, effective immediately. Under the now defunct Immigrant Investor Program, as long as you had a […]

Malaysians most likely to buy property abroad

Affluent Malaysians have the highest rate of overseas property purchases according to a survey by HSBC. Fifty five percent of the Malaysians surveyed purchase property abroad—compared with 45 percent of mainland Chinese and 44 percent of people from Hong Kong—and more than one-third of participants own property in Singapore. At 26 percent, Australia was the […]

Philippines property market to attract more international investors

According to one of the Philippines’ leading media groups, ABS-CBN Publishing Inc, the high quality of real estate products in Manila and key resort destinations around the country is now attracting significantly more interest from overseas investors. Speaking at a press conference to announce the official launch of Property Report Magazine in the Philippines, ABS-CBN […]

Knight Frank ranks Jakarta as the world’s top luxury property market

Indonesian capital Jakarta has topped Knight Frank’s Prime Global Cities Index list of the world’s top thirty luxury markets for the second consecutive year. According to the real estate firm’s fourth quarter report, Jakarta’s luxury home prices rose by 37.7 percent in the last quarter of 2013 from the same period in 2012, when the city […]

James Packer’s Macau investment starts to pay off

James Packer’s Crown Resorts will earn a return on its investment in Macau for the first time, after its joint venture casino operator in the region, Melco Crown, said it would begin to pay a regular dividend. After its fourth quarter results for 2013, in which net income doubled to $US223.2 million, Melco said it […]

Tower just the tip of Leighton’s Asia aims

THE property arm of Leighton Holdings plans to leverage its relationship with Singapore-listed ARA Asset Management, an affiliate of Hong Kong billionaire Li Ka-shing’s Cheung Kong group, as a way of making a foray into Southeast Asia. Last year the ARA-managed Suntec Real Estate Investment Trust acquired the landmark office tower that Leighton Properties is […]

Growth in NZ property prices slows

The increase in New Zealand property values has slowed, suggesting restrictions on high debt lending and looming interest rate rises may have prompted buyer caution. Values increased at a 9.6 per cent annual pace in January, lagging December’s 10 per cent rate, according to state valuer Quotable Value (QV). Nationwide values increased 0.3 per cent […]

Packer: ‘I’ve got more money in China than at home’

The fortunes of James Packer are inextricably linked to the growth of China, as the Australian casino mogul says the success of his Macau joint venture means he has more wealth tied up in the Asian economy than his home country. In an interview with Forbes Asia to mark the magazine’s list of the richest […]

SEB Asset Management acquires Primegate in Tokyo

SEB Asset Management has acquired Primegate, a ten-storey office and commercial building in Tokyo with a market value of JPY 5.5 billion (approximately €39 million). The property was purchased for SEB Asian Property Fund II SICAV-SIF, an investment fund under Luxembourg law specialising in Asian real estate. The building, which was completed in 2013, is […]

Aviva seeks takers for Asia arm

AVIVA Investors, the asset management arm of the British insurance giant, has appointed Jones Lang LaSalle’s corporate finance division to offer its Asia-Pacific property platform to institutional players, according to market sources. The off-market process for the Singapore-headquartered business comes as the real estate funds management industry consolidates worldwide and giant private equity players, led […]

Armani jumps into China’s high-end realty market

Italian luxury goods brand Armani recently announced plans to design a high-end apartment project in Chinese city Chengdu. The move marks Armani’s interior design arm Armani/Casa’s entry into China’s bourgeoning luxury property market and the project is expected to be the first of its kind in the country. Situated in the heart of the Sichuan province […]

Asian buyers back in strength

COMMERCIAL deals jumped at the end of 2013, lifting the total amount of office towers, shopping centres, industrial parks and hotels sold last year to a record $24 billion. Real estate firm CBRE said that sales were 70 per cent higher than in 2012 and the lift had been driven by a surge in foreign […]

Top Realtors Present Exclusive Luxury Properties at LPS Shanghai 2013

(Shanghai, December 16, 2013) The 6th edition of LPS – the Luxury Properties Showcase (www.lps-china.com), China‘s leading luxury real estate exhibition, took place 6-8th December in Shanghai and featured a dazzling collection of multi-million dollar homes in some of the world’s most exclusive and coveted locations. 4,100 highly affluent individuals from around China’s booming Yangtze […]

Previous price record broken in New Zealand as values continue upwards

Prices are rising in New Zealand with the latest index recording a rise of 4.3% taking the median high price for property to $425,000, some $17,475 above the previous record high. Auckland, Canterbury/Westland, Wellington and Waikato/Bay of Plenty all reach new high median price and Taranaki was just $500 below highest median price, according to […]

Prime office market growth in Asia Pacific up 0.5% in the third quarter of 2013

Over the next three to six months, prime office market performance in Asia Pacific is likely to reflect some of the uncertainty surrounding the region’s economy, according to the latest index report from Knight Frank. The index returned to positive growth in the third quarter of 2013, up by 0.5% following a 0.1% drop in […]

CEL Australia buys office building in St Kilda Road for $45.28 million

The Australian subsidiary of a large Singaporean property developer has bought a 12-level office building in St Kilda Road for $45.28 million. CEL Australia, an offshoot of Singapore-listed Chip Eng Seng, sealed the deal this week for the large, mirror-clad building on the corner of Kings Way and St Kilda Road. The transaction caps a […]

Asian money runs hot

More than $3 billion of office property sales were recorded in November and early December, taking the overall amount to more than $10 billion for the year, according to agents. For the real estate investment trusts (REITS), transactional activity was significant in November at about $2.7 billion, with 23 major deals transacting, 10 of them […]

Shanghai property prices set to keep rising, latest analysis suggests

Luxury properties in sought after areas of Shanghai remain in demand despite the introduction of new taxes and other cooling measures, the latest report on the Chinese city’s residential market shows. According to the report from Knight Frank the average transaction price will continue to grow, boosted by the launch of new projects, but there […]

Chinese buy shopping centre

A CHINESE company known for buying distressed property across Asia has bought the half-completed shopping precinct at the $80 million Chatswood Transport Interchange on Sydney’s north shore from Commonwealth Bank. The centre’s prime location means the buyer — China-based company and borrower Changzhou Hope Offices Equipment and its guarantor Zhuang Zhongyi — could transform the […]

The Big Are Getting Bigger As China’s Real Estate Industry Recovers

What a difference a year makes. Longtime China Rich List members sank in 2012 as government efforts to break residential real estate prices hurt demand and profit. This year, eager to undergird economic growth, authorities aren’t responding so nervously to rising prices, and that is showing up in the expanding fortunes of big real estate […]

FORBES ASIA: CHINA’S RICHEST IN REAL ESTATE

Wang Jianlin Dalian Wanda Group Chairman Wang Jianlin, long one of the most powerful forces in China’s real estate industry, takes over the top spot on the Forbes China Rich List for the first time amid a rebound in property prices in China and a big push into the entertainment industry at home and abroad. […]

Home prices in Singapore fall as cooling measures take effect

The price of homes in Singapore are still climbing but the rate of growth has slowed, according to the latest data from the Urban Redevelopment Authority. The figures show that prices increased by 0.4% in the third quarter of 2013, down from 1% in the previous quarter. And in some real estate sectors prices are […]

Ray White in Indonesia surge

ONE of Australia’s most successful businesses operating in Indonesia — Ray White Real Estate — plans to roll out a further 22 branches by the end of next year in the Asian nation, where it expects the economy to continue to strengthen in the months ahead. Originally attracted to the country because of his love […]

Sun rises again in Japan

Japan is emerging from the shadows of its regional neighbours with Tokyo winning the right to host the 2020 Olympic Games and with positive government policies. It is the new game in town, according to investors, with growth forecast for office and retail rents, which should flow to improved investment opportunities. Investors left Tokyo in […]

Galileo leads the REIT return to offshore play

THE Australian real estate investment trust sector is again looking to take a leap offshore, with the Galileo Japan Trust yesterday unveiling a $153 million recapitalisation. In a deal that aims to stabilise the trust, which has a stake in a 21-strong portfolio of Japanese real estate investments worth about Y=57.38 billion ($652m) focused on […]

Singapore firms buy up Melbourne sites

Foreign investors are buying about 25 per cent of commercial properties offered in Melbourne’s CBD, a record level, Savills Australia maintains. Two Singaporean listed companies have splashed out a combined $226.1 million to buy four Melbourne properties over the past month and a Hong Kong-based private investor has bought an office block for $31.5 million. […]

Galileo pursues refinancing

TRUSTS: The managers of the Galileo Japan Trust, which controls a portfolio of 21 Japanese real estate investments worth about Y=57.38 billion ($661.1 million), is working to secure its future, as it has about $525m of debt maturing. Galileo Japan survived the ravages of the global financial crisis but must now find a viable long-term […]

New Zealand Reserve Bank announces restrictions on mortgage lending for borrowers with less than a 20% deposit

Concerns at the rate of New Zealand house prices growth – and the potential risks that posed to the financial system – has prompted the NZ Reserve Bank to impose restrictions on the loan-to-value ratio (LVR) housing mortgage loans within lending banks from October 1. The banks will need to restrict new lending with LVRs […]

Hong Kong remains slow

According to Knight Frank’s latest Property Market Report, the residential market in Hong Kong remained sluggish last month. Investors and mainland buyers largely retreated from the market, leaving end-users as the majority homebuyers, and they have also adopted a wait-and-see attitude in what is still seen as an uncertain market. The report shows that the […]

Weekly market round up

Thailand Knight Frank has published a report on the Pattaya condominium market for the first half of 2013. According to the data, the cumulative supply of Pattaya condominiums at the end of 1H 2013 was recorded at 40,939 units, increasing by 32.9 percent over the end of H2 2012. Approximately 10,153 units from 20 condominium […]

Crown execs fly in for Packer’s Sri Lanka casino bid

Two of James Packer’s most senior executives have flown to Sri Lanka to argue for favourable tax and regulatory treatment for Crown Ltd’s proposed $US400 million ($448.9 million) Colombo casino. Crown chief executive Rowen Craigie and chief financial officer Ken Barton arrived in the island state’s capital on Monday to meet Sri Lanka’s Deputy Minister of Finance, […]

HK & Singapore top luxury price ladder

Hong Kong and Singapore, markets that have seen significant home price inflation over the last few years,  have the highest purchase costs in the world for non-resident purchasers, according to the latest Knight Frank’s Global Development Insights Q2 2013. Hong Kong is the most expensive location to buy a home after considering all the associated […]

Thailand’s Supalai expands

Thailand based property firm Supalai is expanding its investment in Asia. The company is allocating THB2 billion from its overall investment budget of THB15 billion for investments overseas, according to The Nation. Supalai recently set up Supalai Philippines Inc in order to increase presence in that country’s growing property market. Prateep Tangmatitham said the company is […]

Final PIHex event sees record-breaking sales

A record-breaking RM79 million (US$24.8 million) worth of properties were sold at final instalment of The Property Investment and Home Expo (PIHex), held in Tawau, Malaysia, last weekend. The business-to-consumer event attracted more than 1,500 visitors, and featured a variety of property projects in Malaysia, Singapore and Australia, ranging from high-end residential condominiums, commercial shop […]

CBRE new appointment – global head of research

CBRE Group Inc. today announced that Nick Axford, PhD, has been named Global Head of Research, a new position. Dr. Axford is currently Head of Research for CBRE’s Asia Pacific business, and will assume his new global responsibilities immediately. In this global role, Dr. Axford will have overall responsibility for managing the operations of CBRE […]

Makati prime for residential property

Greenbelt Hamilton is a new concept condominium by Megaworld Corporation located in one of the most sought-after addresses in Manila — Legaspi Village, Makati. Megaworld already boasts 18 residential and office buildings in Makati and plans to add 2,000 more condominium units to its CBD inventory over the next three to five years. The 31-storey […]

Discounted penthouses for sale in Singapore

Amid another round of cooling measures, Singaporean developers are luring buyers with discounts on their completed penthouse units. Savills Singapore reported that City Developments Limited has offered five percent discount on some of its completed penthouses including units at Shelford Suites, a 77 unit exclusive freehold condominium development on Shelford Road; Wilkie Studio, a contemporary […]

Hong Kong tops office market, Sydney in 13th

Hong Kong’s Central district has topped the list as the most expensive office market in the world, outpacing the equivalent districts in the US, Europe and Australia. According to the latest CBRE report, Sydney, in 13th place, was Australia’s highest priced market followed by Perth (21), Brisbane (29), Melbourne (49), Adelaide (71) and Canberra (93). […]

Keppel REIT Expects Yield Improvement Upon Acquiring Stake in Melbourne Landmark

Singapore-listed office landlord Keppel REIT has strengthened its portfolio down under by acquiring a 50 percent stake in a freehold office property located in the heart of Melbourne. The property at 8 Exhibition Street is fully tenanted and expected to be an immediately accretive acquisition. 8 Exhibition Street is an office property located in the prime […]

Dior to McDonald’s in Macau Casinos Help Adelson Pass Ho

As Judy Huang’s husband prepared to hit Macau’s gaming tables, the 33-year-old mother from mainland China was more drawn to the Venetian resort’s shopping plaza, home to a fake grand canal, crooning gondoliers and brands from McDonald’s to Dior. “The mall is important” for visitors with children, Huang said while preparing to board a ferry to Macau […]

Weekly market round up

 Malaysia The local government in Johor will impose a new property tax on some 130,000 foreigners owning properties in the state, local news papers have reported. State chief Mohamed Khaled Nordin said he believed most locals will be in agreement with the new policy, which is done to increase state returns. The new tax rates […]

GuocoLand announces development of Singapore’s tallest building

GuocoLand recently announced plans to develop Tanjong Pagar Centre, a 290-metre high project, which upon completion is set to be the Lion State’s tallest building. Tanjong Pagar Centre, which spans over 157,935 sqm, is slated for completion in 2016 and has been designed by architectural firm Skidmore, Owings & Merrill. In the main tower, there […]

185 Rajadamri showcased in Singapore

This weekend in Singapore, Savills is hosting a private cocktail preview of Raimon Land’s 185 Rajadamri, located in the heart of Bangkok. One of the last freehold condominiums on Wireless Road, 185 Rajadamri is the latest high end residential development on the road which also houses The Residences at The St. Regis, Magnolias Ratchadamri Boulevard, […]

Rich turn to Asia as exclusive wealth management firms park money in Singapore

Switzerland. The home of good cheese and better chocolate, accurate watches, and, for as long as anyone can remember, the place the wealthy parked their money, with no one asking where it came from. But with the rise of Asia and with a new cohort of Rich Listers, that’s all changing, according to a report […]

Singapore property set to be sold for a staggering US$242 million

An elevated 7,900 sq m plot, located on Singapore’s coveted Nassim Road, was recently put on the market for a record US$242 million. Situated close to the island-state’s prime shopping district Orchard Road, the plot comprises a two-storey property, tennis court and swimming, according to sole marketing agent Jones Lang LaSalle. “The sale would set […]

Jem® by Lend Lease is 100% Leased Ahead of Opening

Jem® by Lend Lease, Singapore’s 3rd largest suburban mall located in Jurong East, achieved 100% leased status for its 241 shops last week. The mall boasts a stellar line-up of fashion, beauty, food & beverage and lifestyle tenants which have chosen to locate their first suburban outlet in Jem®. These include international and homegrown brands such […]

Philippines Property Awards

With the property industry exploding in Manila and top class projects reaching for the Manila skies, 2013 is the perfect year to launch the inaugural Philippines Property Awards. The awards, organised by Property Report publisher Ensign Media, will recognise development achievements in Manila, Paliwan, Boracay and Cebu City. Last years South East Asia Property Award winners from the Philippines included Ayala […]

Market Review; Thailand Malaysia Singapore

The HDB released its Resale Price Index (RPI) for the first quarter of 2013, this week. The RPI went up 1.2 percent to 205.4 points over the last quarter, the lowest quarter-on-quarter RPI growth since the first quarter of 2012. Commenting on the news, Mohamed Ismail, CEO of PropNex Realty said, “The HDB resale prices […]

Moelis entices wealthy Chinese investors with $500m fund

Investment bank Moelis & Co has lured a handful of wealthy Chinese industrialists into its recently established $500 million property fund as the first wave of significant investor visa applicants take advantage of the government’s cash for residency scheme. According to the advisory firm’s joint managing director in Australia, Andrew Martin, the business is likely […]

Kismis Lodge sells to Newfort Alliance for S$84.18 million

Kismis Lodge, a landed residential development in Singapore, has been successfully sold to Newfort Alliance (Cairnhill) Pte Ltd. Kismis Lodge is situated at Lorong Kismis within the landed housing estates of Upper Bukit Timah. This sale marks the third collective deal done this year by sale brokers, property consultancy firm Jones Lang LaSalle. Kismis Lodge […]

Lend Lease Officially Begins Construction Work on INSEAD’s S$50 million Global Leadership Development Centre in Asia campus

Lend Lease last week officially began construction work of the new Leadership Development Centre for INSEAD, the leading international business school, on the school’s Asia campus in Singapore. The design of this new centre was conceptualised by Lend Lease, one of the world’s leading fully integrated property solution providers, who is also spearheading the construction. […]

LPS Beijing To Return As China’s Premier Luxury Property Show

The fifth consecutive edition of LPS Beijing – The Luxury Properties Showcase will be held on May 31-June 2 in the glamorous five-star Legendale Beijing(www.lps-china.com) Sponsored by Lamborghini, Beneteau Yachts and Dassault-Falcon, and supported by PropGoLuxury.com, LPS Beijing 2013 will welcome a record 80 exhibitors from 25 countries. Over 5,000 highly targeted VIP buyers are expected to visit the Show, which […]

Hamptons International Introduces Contemporary London Residential Property Portobello Square To The Hong Kong Market

High-end Regeneration Project Offers Village Atmosphere at the Capital’s Most Sought-after District Leading residential agent Hamptons International will unveil to Asian investors its latest luxury London residential development, Portobello Square, in a two-day exclusive exhibition to be held at Mandarin Oriental on March 16 and 17 from 11am to 7pm. Situated in a prime location at west London’s […]

Offshore buyers gain prime real estate in Melbourne

The Holiday Inn on Flinders in Melbourne has been bought for nearly $50 million by Christchurch’s richest resident, Philip Carter of Carter Group. Sold by Singapore-listed Lasseters International Holdings, to Priscilla David Ltd, believed to be associated with Mr Carter, the 4 ½-star hotel covers 1729 square metres of land and is within walking distance of […]

See The View From The Tops Of The World’s Tallest Skyscrapers

It seems like every year architects and engineers push boundaries and shatter records to erect the new tallest building.The Burj Khalifa was named the tallest building in the world in 2010 at 2,717 feet, and the London Shard’s observation tower opened on the tower’s 72nd floor this week. Jennifer Polland Source: Business Insider

Indonesia Has The Fastest-Growing Luxury Real Estate Prices In The World

Jakarta and Bali, both in Indonesia, ranked highly on real estate firm Knight Frank’s new index of price growth in the world’s luxury real estate markets. The capital city of Jakarta, where prices increased 38 percent year-over-year, topped the list this year. And Bali ranked second, tying Dubai with a 20 percent increase in luxury real estate […]

Govt open to extending singles’ housing policy to more people

SINGAPORE: National Development Minister Khaw Boon Wan says the government is open to raising the income ceiling to allow more singles to buy new HDB flats. But this will depend on how manageable application rates are for the new scheme, which was announced on Friday during the Committee of Supply debate for the Ministry for […]

231 Elizabeth Street sold for $201 million to Chinese investor

Chinese investor Bright Ruby is scooping up 231 Elizabeth Street in Sydney’s CBD for an agreed $201 million. This will be the largest single property deal for the city so far this year. The purchase of the office building marks the Singapore group’s second major real estate acquisition in the last few months. 231 Elizabeth […]

Royal Group the leading bidder for former Ritz-Carlton

Royal Group Holdings is said to be forking out almost $60 million as the leading bid for the former Ritz-Carlton hotel in Double Bay Sydney. The Singapore-based group was established when Raj Kumar and Asok Kumar Hiranandani separated their Royal Brothers enterprise in 2011 in an cooperative effort to restructure. A spokesperson from Royal Group […]

China Tightens Mortgage Rules as Home Prices Keep Rising

China called for higher down payments and interest rates for second-home mortgages in cities with “excessively fast” price gains and ordered stricter enforcement of taxes on sales as authorities step up a three- year campaign to cool the property market. The People’s Bank of China’s regional branches may implement the measures in accordance with the price-control targets of local […]