Vincent Ong 6598531741

Hong Kong steps up efforts to cool home prices

Nov 4, 2016

  • 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 to buy land in the former Kai Tak airport area, the highest price paid at a government land sale in 3½ years.
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Oxley sells more than 50% of Cambodian project

November 2, 2015

  • 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 300-room hotel, sitting above a 5-storey retail podium.

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The emergence of Vietnam – Jun 15, 2015

New foreign ownership laws come into force on July 1, and Ho Chi Minh City gets ready for big changes within the next few years.

Big things are happening in Vietnam. From July 1 anyone with a visa to enter the country – and that includes a tourist visa-on-arrival – will be able to purchase property.

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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 limit on the number of units a foreigner can buy, but the total number of units owned by all foreign buyers must not exceed 30 percent of the units in one apartment building, or 250 landed property units in one ward. Previously an eligible foreigner could buy only one apartment in Vietnam.
  • PURPOSE OF PURCHASE: The properties owned by foreigners can be sub-leased, traded, inherited and collateralized. Previously ownership was strictly for residential purpose.

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China buyer snaps up penthouse at record price

Apr 10, 2015

  • 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 Australia 108 is divided into two types of apartments – 161 Cloud Residences above the Star Club and 944 apartments below.
  • Only 25 percent of units at Cloud Residences remain available for sale less than two months after the project’s official launch in Australia.

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How will GST impact Malaysia property?  Apr 6, 2015

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 to push up residential prices

Specifically, residential properties fall under Exempt-Rated goods, meaning they are not subject to GST tax. However, home prices are still affected as construction materials are not exempted. Additionally, developers cannot get a refund for the input taxes as houses are not Zero-Rated items.

Commercial & industrial property most affected 

Given that commercial and industrial properties are not ‘Exempt Rated’ goods but falls under ‘Standard Rated’ items, the GST will have a greater impact on these segments.

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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 units that were released at a special Singapore preview showcase.


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Vincent Ong 6598531741

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 sales from the developers and therefore not regulated by CEA.”

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