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Malaysia freezes approvals for luxury property projects

The Malaysian Cabinet has directed Dewan Bandaraya Kuala Lumpur (DBKL) to freeze approvals for 4 types of developments following a study by Bank Negara Malaysia (BNM) that raised the alarm on a glut in these buildings. DBKL was instructed to cease considering and approving the development of shopping complexes, offices, serviced apartments and luxury condominiums […]

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Luxury Hong Kong apartment sells for more than US$71m

A luxury home on The Peak in Hong Kong has been sold for an eye-watering HK$560 million (US$71.7 million), setting another price record in the city. An unidentified buyer picked up the 4,242 sq ft apartment at the Mount Nicholson development for around HK$132,000 per sq ft There are 19 detached houses and 48 flats […]

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Hong Kong steps up efforts to cool home prices

The government raised the stamp duty to 15% for all residential purchases, except for 1st time buyers who are permanent residents, effective Saturday. Expects prices to rise between 3% and 5% in both 2017 and 2018. A unit of HNA Group Co this week outbid Hong Kong developers with an HK$8.84 billion (S$1.5 billion) offer […]

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Oxley sells more than 50% of Cambodian project

Oxley Holdings has announced that phase 1 of The Peak, its 2nd development in Phnom Penh comprising 507 residential units in Tower 1, is over 50% sold. Launched to Singaporean buyers on 17 October 2015, the 55-storey freehold mixed-use development features 2 residential towers with a total of 1,014 units, 15-floor office tower and a […]

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Vietnam to allow foreigners to own homes for 100 years

Thanh Nien News – Saturday, May 09, 2015 Vietnam’s new foreign ownership property law: WHO: Foreigners with a valid visa; foreign investment funds, banks; Vietnamese branches and representative offices of overseas companies are eligible to buy. TYPES: All residential property types including apartments, villas and townhouses. Previously only applicable to apartments. VOLUME: There is no […]

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China buyer snaps up penthouse at record price

A penthouse in one of Australia’s tallest residential buildings has been sold for a record A$25 million to an unnamed businessman from China. At A$33,000 psm, the 750 sqm penthouse may be the most expensive apartment ever sold in Australia. over 90 percent of the 1,105 apartments at Australia 108 found buyers. Aspial revealed that […]

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How will GST impact Malaysia property?

Malaysia’s government recently rolled out the new Goods & Services Tax (GST) on 1 April 2015. Difference with old tax system In comparison, the GST imposes a higher rate of 6.0 percent for all building materials and input services such as those provided by contractors and engineers, leading to higher cost for home builders. GST […]

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Freeze on serviced apartments in Johor

The state has rejected new applications to build serviced apartments. Mentri Besar Mohamed Khaled Nordin said this was to ensure that the property market would not be flooded by serviced apartments, especially in Iskandar Malaysia. “Those who have received their approval can continue with their projects,” he said at the ground-­breaking ceremony of affordable homes […]

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Aspial unit sells 69% of Australia 108 units launched

The Business Times – November 3, 2014   Singapore WORLD Class Land (WCL) sold 69 per cent of the units released in its iconic Australia 108 launch over the weekend in Singapore. The Singapore developer confirmed with The Business Times that as at 5 pm on Sunday, it had sold 133 out of the 193 […]

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CEA "aware" of under-the-radar property sales

“Estate agents who are not licensed to carry out estate agency work in Singapore may instead tie up with licensed estate agents when marketing overseas property developments in Singapore. Overseas developers may also choose to sell their overseas properties in Singapore through their own staff. Such transactions which do not involve estate agents are direct […]

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