Trends and surprises in major markets.
In this weeks Market round-up: New borrowing limits take effect in Indonesia, home prices in the UK reach an all-time high, and Barclay’s forecasts steep price declines in Singapore.
Singapore Home prices would have gone gone up by an additional 9.3 percent in 2012 over 2009, had the government not stepped in to cool the market, according to real estate consultancy Savills. Speaking at an industry seminar organised by the Real Estate Developers’ Association of Singapore, Savills representatives said it was unlikely that policy [...]
Asia’s two key commercial hubs have the highest purchase costs in the world for non-resident buyers, according to the latest Knight Frank’s Global Development Insights Q2 2013.
Hong Kong Hong Kong’s financial Secretary has warned that interest-rate expectations in the US would gradually affect Hong Kong’s property market, following hints by the US Federal Reserve that it would taper its monetary stimulus. After the enforcement of the Double Stamp Duty in February and the Residential Properties (First-hand Sales) Ordinance in April, the [...]
Hong Kong Sales in Hong Kong’s property market remains sluggish, according to a report from Knight Frank. The real estate services company attributed the low confidence levels to a series of real estate cooling measures imposed by the government. Data from the Land Registry showed that residential transaction volumes slumped 28.1 percent month-on-month in March, [...]
The number of private home sales in Singapore last month fell by 65 percent month-on-month to 708 units, according to a recent report by PropNex Realty. However, officials at PropNex believe a lull in terms of new launches and transactions is not unusual given that February is a shorter month that includes celebrations for the [...]
Overseas property firms are taking advantage of the cooling measures recently introduced in Singapore and Hong Kong, reported the South China Morning Post. The latest round of cooling measures were introduced to curb the high demand for property. Authorities doubled the stamp duty in Hong Kong as well as tightening mortgage restrictions, and Singapore’s government [...]
Property prices in Hong Kong are likely to rise for the rest of 2013 following a short term correction of ten percent, according to a recent report by property consultancy firm Colliers. Colliers also predict that potential buyers will bear greater transaction costs in order to enter the market as the expectation of returns is [...]
In Asia, cooling down heated markets seems to require quite some considerable effort and the results may see domestic investors run from the cold. I’m the biggest idiot in the entire universe. I recently spent those dim dark hours of early morning dashing between Bangkok’s two airports – Suvarnabhumi and Don Mueang. With a 6 [...]
Property prices in Singapore still have “some ways to go” before they reach an acceptable level, according to Tharman Shanmugaratnam, Singapore’s deputy prime minister and finance minister. Singapore’s property is now in a wrong part of the cycle, according to Tharman, and prices would become acceptable through a combination of income improvement, reported channelnewsasia. “Some [...]
Property developers in Singapore are anxious as government cooling measures introduced last month begin to take effect, according to the Real Estate Developers’ Association of Singapore (REDAS). REDAS president, Chia Boon Kuah, said that property developers are continuing to take part in land bids which make up their main course of development content, reported channelnewsasia. [...]
A steady final quarter marked the end of what was a fairly stable year in Asia’s luxury residential real estate market, according to data released by property management firm Jones Lang LaSalle. The outlook for 2013 is similarly neutral as the effects of cooling measures in the region kick in. Capital values grew an aggregated [...]
As I sit down to write about the trends in the property market we will see in 2013, the Singapore government has announced the seventh round of cooling measures, which look more like a killing measures. The reason for the draconian measures is obvious. Southeast Asia remains the darling of the world’s investors and one of the few markets in the world that is [...]
Property developers in Singapore are set to get more creative in order to generate sales after the latest round of cooling measures, according to industry analysts. EL Development is planning to complete its current condominium project a year ahead of schedule to entice buyers, Channel News Asia reported. “We will speed up our construction progress, we intend [...]
As Hong Kong tries to meet imminent land demand for housing developments, the country’s chief executive Leung Chun-ying proposed a five-year housing development plan to ensure the provision of land supply with an ultimate goal to develop a more stable housing market, according to a Colliers International press release. These short-to-medium term measures would potentially [...]
Hong Kong leader Leung Chun-ying unveiled new policies in his latest speech aimed at increasing land supply to cool the hot property market, The Star reported. The news came as hundreds of protesters surrounded the legislature during Leung’s speech, with some demanding he resign and take stronger measures to make housing prices affordable again, according [...]
The government’s seventh round of measures to cool the housing market are finally having the desired effect with Singapore’s property stocks tumbling. Since the cooling measure announcement Friday the property sector has fallen as much as 2.7 percent, its biggest drop since May 2012. According to Reuters the property sector was the best performer on [...]
Thai authorities and developers agreed there is no need for the country to adopt policies to control property market speculation after Singapore announced another round of cooling measures, The Nation reported. Bank of Thailand governor Prasarn Trairatvorakul insisted there were currently no irregularities in the property market under the central bank’s radar. He told the newspaper [...]
Singapore’s property market has dealt with six rounds of cooling measures in the past three years but property prices remain undented. According to CNBC, analysts now anticipate new cooling measures. Private residential property in Singapore has increased 56 percent since the global financial crisis and many analysts predict the steady incline to continue into the [...]