Asia Real Estate
Home prices unlikely to spiral, en bloc sales to slow down
Private home prices up 1% for 2017: URA
Short-term rental rules in Singapore
Three nabbed over laptop theft at office building - Nation
World's biggest sovereign fund enters Asian property market
Local banks raise home loan rates
MAS warns of 'excessive exuberance' in property market
Can Preclosing Your Home Loan Help You Save Money?
2018-01-19 12:10:52 Preclosing a home loan, in simple terms, means paying off your home loan before the term of the mortgage is done. This can be done for various reasons such as refinancing, saving on interest, etc. Sometimes a borrower can refinance his/her housing loan with another bank merely because they willing to provide a lower rate of interest on the loan than the bank that the borrower is currently indebted to   Read More ...
84-year-old woman swindled out of ¥70 million in nursing home scam
2018-01-18 11:07:37 An 84-year-old woman in Tokyo has been swindled out of around ¥70 million ($632,000) after she was told to send money to avoid problems related to a nursing home establishment, police said Wednesday. According to the police, a man pretending to be a real estate company employee called the woman last June and told her she had won the right to a place in a nursing home   Read More ...
Bad roads irk residents, realtors in Guntur
2018-01-17 07:13:32 The pitiable condition of roads in the city has robbed the sheen of festival in many residential areas. Pedestrians and commuters are forced to travel on the roads resembling dust bowls due to the sheer negligence of the contracting agency executing the Under Ground Drainage works. The delay in recarperting the roads dug up for laying the UGD pipelines and inspection chambers has worsened the plight of residents   Read More ...
Korea considers property tax hike
2018-01-16 15:11:50 The government is considering a property tax hike on owners of multiple homes in Seoul's affluent areas to stabilize the property market, Finance Minister Kim Dong-yeon said Tuesday. "Given the continued rise of housing prices in Seoul's rich areas, it would be justifiable for the government to raise property taxes," Minister Kim said in a radio interview. Kim, also serving as deputy prime minister, said no concrete plans have been set as relevant government offices were working together to fix details such as tax rates   Read More ...
Advance Synergy unit buys 70% interest in commercial building blocks for RM40.95m
2018-01-16 15:01:29 PETALING JAYA: Advance Synergy Bhd’s unit Advance Synergy Realty Sdn Bhd is acquiring 70% interest in two units of detached commercial building blocks located in Kuala Lumpur and Shah Alam for RM40.95 million cash, in a bid to expand its business into property investment and enter the Peninsula Malaysia market. In a filing with Bursa Malaysia, the group said its unit entered into two sale and purchase agreements with Petaling Garden Sdn Bhd and Temasya Development Co Sdn Bhd respectively, for the proposed acquisition   Read More ...
Felda regains Jalan Semarak land - Nation
2018-01-16 00:02:28 KUALA LUMPUR: In about a month after the news broke, the Federal Land Development Authority (Felda) successfully recovered ownership of 16 strategic plots of land worth an estimated RM200mil along Jalan Semarak here from a local company. A jovial Tan Sri Shahrir Abdul Samad, the Felda chairman, showed the media copies of the land grants and the memorandum of transfer, which were returned to the agency earlier at 1pm yesterday   Read More ...
'Healthy demand' for office space at upcoming Paya Lebar Quarter
2018-01-15 17:30:48 SINGAPORE: More than half of the office space at the upcoming Paya Lebar Quarter has been leased or is in the process of being leased, its developer Lendlease announced at the topping out ceremony of its first office tower on Monday (Jan 15).Close to one million square feet of grade A prime office space will be made available at the upcoming regional business hub, which is the "most centrally located commercial centre outside of the downtown area", National Development Minister Lawrence Wong said at the ceremony   Read More ...
Fire in residential building in Thane; 29 families shifted
2018-01-15 10:09:23 A fire broke out in the electrical meter box of a residential building here in the early hours on Monday, an official said. Following the blaze, all 29 families residing in the seven-storey building, located near the Thane railway station, were shifted out, the city civic body’s regional disaster management cell chief Santosh Kadam said. A 32-year-old woman suffered from suffocation due to the dense smoke following the fire which erupted around 3 am, he said   Read More ...
High-end land record management system to be in place soon
2018-01-13 19:13:55 After the purification and cleaning of agricultural land records taken up by the Revenue Department across the State, the government is now gearing up for linking the updated land records database to the Registration Department. The Revenue Department declared that 93% of agricultural land records are clean at the end of the first phase, which are now being uploaded into the data base   Read More ...
Leopard enters residential area in Mumbai, injures six
2018-01-13 12:20:17 At least six persons were injured on Saturday in an attack by a leopard, which entered a residential area in Nanipada in suburban Mulund in Mumbai, police said. The leopard was spotted at 7.15 a.m. in Nanipada, which is surrounded by hills and forest, a senior police official said. It attacked and injured six persons. A team of police and forest officials were rushed to the area and the area was cordoned off, Deputy Commissioner of Police, Zone-VII, Akhilesh Singh had said earlier in the day   Read More ...
Luxury property projects freeze impedes readjustment phase: Ideas senior fellow
2018-01-11 17:01:33 KUALA LUMPUR: The government’s move to freeze approvals for luxury property projects is a direct interference in the market as it impedes the readjustment phase that is necessary for the property sector to adjust to the present economic system, according to the Institute for Democracy and Economic Affairs (Ideas) senior fellow Dr Carmelo Ferlito.   Read More ...
Trump Towers sells 20 luxury apartments worth Rs 150 cr in Gurgaon on 1st day
2018-01-11 13:17:47 Realty firm M3M India on Thursday said it has sold 20 luxury apartments worth Rs 150 crore under the Trump Towers project in Gurgaon within a day of its launch. The company is targeting Rs 2,500 crore from the sale of 250 units in this project, which was launched on Wednesday. Global realty brand ‘Trump Towers’ made its debut in North India through real estate firms M3M India and Tribeca Developers   Read More ...
Singapore property market rebound may extend through 2019
2018-01-11 12:04:20 Analysts believe the four-year slump that has plagued Singapore’s property market may have come to an end as private home prices rose for a second consecutive quarter in the period ended-31 December. In fact, analysts at Credit Suisse expect home prices to grow by as much as 10 percent in 2018, while OCBC Investment Research and Morgan Stanley expect an eight percent hike, reported Bloomberg   Read More ...
Fire hits residential area in Pasig
2018-01-11 04:11:27 A fire broke out on Thursday morning at a residential area in Pasig City. In report released by the Pasig City Public Information Office, several houses were destroyed by the fire along Blumentritt St., Brgy. Kapasigan. The cause of the blaze is still unknown but firefighters said it reached the fourth alarm. Firefighters are still trying to put out the fire as of posting   Read More ...
Land swap under MACC scrutiny - Nation
2018-01-11 00:48:50 PETALING JAYA: The Malaysian-Anti Corruption Commission (MACC) probe into the controversial Penang undersea tunnel is focused on land swaps that were made for the feasibility and detailed design study which has yet to be completed. Sources said investigators are scouring documents involving two plots of land – Lot 702 and Lot 713 in Bandar Tanjung Pinang – with a size of 1   Read More ...
Home prices drop, first time in 10 years
2018-01-10 20:38:42 The triple effects of demonetisation, GST implementation and slow economic growth has led to a decline in real estate prices in Mumbai. Real estate consulting firm Knight Frank India in its half yearly report has confirmed this trend. It said, for the first time in a decade, Mumbai witnessed a decline in quoted prices. “The weighted average prices were down 5% YoY in 2017,” it said   Read More ...
SC asks Jaypee Associates to submit details of its ongoing housing projects
2018-01-10 09:12:13 The Supreme Court today directed realtor Jaiprakash Associate Limited (JAL) to give details of its ongoing housing projects in the entire country while reiterating its direction that its directors shall not alienate their personal properties. A bench headed by Chief Justice Dipak Misra also directed amicus curie Pawan Shree Agrawal to set up a portal to take note of the grievances of the home buyers of JAL   Read More ...
Jaypee debt case: SC seeks list of realty group’s ongoing housing projects in country
2018-01-10 09:06:08 The Supreme Court on Wednesday asked infrastructure major Jaiprakash Associate Limited (JAL) embroiled in a multi-crore debt case to file a list of its ongoing housing projects in the country. Reiterating its direction restraining JAL directors from alienating their personal properties, the apex court also ordered creation of a portal for registering grievances of homebuyers of realty group JAL, a PTI report said today   Read More ...
Property agent escapes death sentence after drug conviction overturned
2018-01-09 10:53:43 PUTRAJAYA: A property agent escaped the gallows after the Court of Appeal on Tuesday allowed his appeal to set aside his conviction and death sentence for trafficking drugs. A three-man panel comprising Datuk Mohd Zawawi Salleh, Datuk Ahmadi Asnawi and Datuk Kamardin Hashim discharged and acquitted Hari Singh Kanda a/l Simseer Singh after ruling that the trial was not conducted according to the law   Read More ...
Two fighting cobras captured in residential area
2018-01-08 09:13:33 BALING: Two cobras, which were battling it out in front of a house in Kampung Baru, Jalan Hospital in Baling, were captured by the Civil Defence Department yesterday evening. Baling Civil Defence Department officer, Lieutenant Mohd Faizol Ab Aziz said they received an alert of the incident at 6pm before deploying a team, who arrived at the site 15 minutes later   Read More ...
Don't speculate on Felda RM270 million land issue
2018-01-06 15:00:52 He said they should wait until the issue had been investigated by the authorities. On Dec 21, the media reported that Felda risked losing their right to strategic pieces of land in Jalan Semarak worth over RM270 million after the plots were believed to have changed hands via a doubtful deal since 2015.   Read More ...
Create commercial space on a par with housing, Lokesh tells realtors
2018-01-06 04:14:00 IT Minister N. Lokesh has called upon the realtors to give priority to creation of commercial space on a par with housing to attract IT and electronics manufacturing companies, many of which have apparently kept their plans for Andhra Pradesh on hold due to shortage of ready-to-occupy space, notably in the capital region. Companies can avail themselves of rental guarantee being extended under the recently-unveiled Designated Technology Policy and other incentives for constructing office spaces, which are needed on a massive scale   Read More ...
More registered property agents this year, reversing three-year slide
2018-01-05 03:00:10 SINGAPORE - A more optimistic property market in 2017 led to a bump in the number of registered property agents this year, reversing a three-year slide. There were 28,571 registered property agents in Singapore as at Jan 1, 174 more than in 2017, according to figures from the Council of Estate Agents (CEA) on Thursday (Jan 4). CEA's director of policy and licensing Chia I-Ling said the increase could be attributed to a "positive outlook on the real estate market"   Read More ...
Fire hits residential area in Sampaloc
2018-01-04 08:12:09 A fire broke out before noon Thursday in a residential area in Sampaloc, Manila. The Bureau of Fire Protection (BFP) confirmed that the blaze destroyed a house along Galicia Street. The cause of the fire is still unknown as of posting. According to the BFP, the fire started around 11:50 a.m. and reached the 3rd alarm few minutes later. Firefighters managed to put out the fire by 1:34 p   Read More ...
Private residential home prices appreciated 1 per cent in 2017
2018-01-03 15:02:14 Private home prices rose 0.7 per cent in the three months to Dec 31, following a similar 0.7 per cent increase in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA) yesterday. For the whole of last year, prices appreciated 1 per cent, in contrast to the 3.1 per cent decline in 2016. For non-landed private homes, prices rose 0   Read More ...
TDM accepts land granted by Terengganu
2018-01-03 15:02:03 PETALING JAYA: Terengganu state-owned plantation company TDM Bhd today accepted the plots of land offered by the state of Terengganu via a grant. In line with TDM’s domestic plantation expansion plan, the company had applied to the state for land in Hutan Simpan Sungai Nipah, Kemaman and Hutan Simpan Rasau, Dungun, measuring 4,515ha. The state approved TDM’s application for the plots as per the terms and conditions set out in its letters dated Dec 26 and 28, 2017 respectively   Read More ...
Alcom shares up 1.18% on plans to diversify into property development
2018-01-03 05:01:23 PETALING JAYA: Aluminium Company of Malaysia Bhd's (Alcom) share price rose one sen or 1.18% this morning, following its announcement to diversify into property development with a RM500 million gross development value industrial park venture. At 10.39am, the stock stood at 86 sen with 96,800 shares changing hands. Its market capitalisation stood at RM114.18 million. The group said it is also planning to transfer its listing status to a new holding company in an effort to form separate identifiable business streams comprising aluminium product manufacturing and property development segments   Read More ...
Alcom plans to diversify into property development, transfer listing status to newco
2018-01-02 16:00:56 PETALING JAYA: Aluminium Company of Malaysia Bhd (Alcom) is planning to diversify into property development with a RM500 million gross development value industrial park venture, and transfer its listing status to a new holding company in an effort to form separate identifiable business streams comprising aluminium product manufacturing and property development segments.   Read More ...
Home prices unlikely to spiral, en bloc sales to slow down
2018-01-02 06:01:51 Experts expect the recovery of Singapore’s real estate market to continue this year following three years of price drops, reported the Business Times. However, prices are unlikely to rise too high, like the 38.2 percent surge between mid-2009 and mid-2010, due to existing cooling measures, said JLL National Director of Research and Consultancy Ong Teck Hui. Even the forecasted price growth for 2018 among analysts are varied, with projections ranging from three percent to 15 percent   Read More ...
Private home prices up 1% for 2017: URA
2018-01-02 03:01:29 SINGAPORE: Private home prices increased by one per cent for the whole of 2017, after declining 3.1 per cent in 2016, according to the latest flash estimates from the Urban Redevelopment Authority of Singapore (URA) on Tuesday (Jan 2). In its press release, URA said overall, the private residential property index increased 1.0 point from 137.6 points in the third quarter to 138   Read More ...
Plan to construct finance dept. office buildings in all districts: Yanamala
2017-12-31 21:12:28 The State government is planning to undertake construction of office buildings to the Finance Department in all the districts, besides ensuring permanent buildings to house the sub-treasury offices, according to Finance Minister Yanamala Ramakrishnudu. Along with Home Minister N. Chinarajappa and local elected representatives, he laid foundation stone for the construction of office complex for the Finance Department with an expected outlay of ₹10 crore   Read More ...
Bengal announces compensation for Bhangar land owners
2017-12-30 17:14:23 Kolkata: The Trinamool Congress government in West Bengal has announced compensation for land owners at Bhangar who have been affected by the power distribution project in the area. The development comes two days after fresh violence erupted in Bhangar, with TMC cadres allegedly attacking protesters during a procession on Thursday. The protesters, who have been agitating against the project, dubbed the announcement as a “gimmick”   Read More ...
Property dealer shot dead over money dispute
2017-12-29 21:16:28 A 30-year-old property dealer was killed and his 33-year-old friend was injured when they were shot at in outer Delhi’s Kanjhawala on Thursday night. The accused are absconding, the police said. Nitin (30) and his friend Himanshu (33), residents of Ladpur, had gone to visit their friend Kuldeep when they were allegedly shot at by Kuldeep’s cousin Sandeep and his friend Virender   Read More ...
CBI hunts for builders who got government land
2017-12-28 21:42:06 Days after the Central Bureau of Investigation (CBI) registered two separate cases probing a land scam involving more than 300 acres of land in Majiwade village, Thane, the agency will now check records of 64 plots to identify the builders who were granted these lands by government bodies. CBI says unknown officials from M/s Provident Investment Company Limited (PICL), Finance Department of Madhya Pradesh and Thane Municipal Corporation (TMC) connived with various unknown builders and private individuals to usurp the land   Read More ...
CapitaLand acquires first office building in Germany
2017-12-28 04:30:41 SINGAPORE: CapitaLand has acquired its first office building in Germany, marking the expansion of its commercial business beyond Asia, the group announced on Thursday (Dec 28). CapitaLand said in a press release that it purchased the Main Airport Centre (MAC), a freehold multi-tenanted office in Frankfurt, for 245 million euros (S$392 million) through a joint venture. The group holds a 94   Read More ...
Ryots protest over land compensation
2017-12-27 06:33:46 Farmers on Tuesday sat on an indefinite protest outside the Greater Noida Industrial Development Authority Office (GNIDA) to press for their demand against the delay by the State government in providing the 64% compensation and allotment of 10% developed plots in lieu of their acquired land. According to farmers’ leader Manvir Bhati, farmers demand 10% developed land and 64.7% additional compensation as per the Allahabad High Court’s order   Read More ...
Discounts may be no boon to property buyers
2017-12-26 15:01:25 PETALING JAYA: House buyers looking for discounts in a slow property market need to beware of the taxman who may come a-calling. Currently, stamp duty is charged at 1% on properties worth up to RM100,000, 2% for homes valued at RM100,001 to RM500,000 and 3% for homes worth more than RM500,000. With the current soft property market, there are more opportunities now for buyers to find discounted assets   Read More ...
Hike in development charges led to steep property prices in Penang
2017-12-26 14:47:57 PETALING JAYA: The drastic hike in development charges and other contributions imposed on developers in Penang after the Opposition took control of the state in 2008 has led to high property prices, claims Datuk Dr Muhamad Farid Saad (pic). The Pulau Betong assemblyman, through a recent Facebook post, said that development charges which were previously RM5 per sq ft (residential) and RM7 per sq ft (commercial) prior to 2008, have tripled to RM15 per sq ft and RM21 per sq ft respectively   Read More ...
Take up affordable housing, CREDAI told
2017-12-25 21:12:28 The three-day property expo of Confederation of Real Estate Developers’ Associations of India (CREDAI), Visakhapatnam chapter concluded on a grand note at the A.U. Engineering College grounds here on Monday. Minister for Roads and Buildings Ayyanna Patrudu, who was the chief guest at the valedictory function, said both the State and Central governments launched housing schemes to ensure houses to all   Read More ...
Property dealer shot dead; two held
2017-12-24 12:34:42 A 55-year-old property dealer Raj Kumar Mishra was killed at his house in the Shiv Colony locality here allegedly by five youngsters, police said on Sunday. According to police officials, the property dealer was shot at from close range on Saturday evening. Mishra died on the spot, they said. The deceased’s son identified three of the killers and informed the police officials   Read More ...