Flagging demand for luxury property in Vietnam

August 31, 2010 - Vietnam

Developers of luxury apartment projects in Vietnam have had to shift their sales strategies in the face of flagging demand, according to real estate consulting and services firm Savills Vietnam.

Prior to the financial crisis, developers could sell units without much effort due to soaring demand, but they now had to turn to sales promotion programmes to turn over unit and meet sales targets, Savills said.

Indochina Land Ltd Co, developer of the Indochina Plaza Hanoi project, recently announced a trade promotion programme for customers who buy apartments in the Xuan Thuy Road complex.

Phuket property market to see continious improvement

August 31, 2010 - Phuket

Phuket's residential property market has shown signs of improvement in line with the global economic recovery, according to new research from Knight Frank Thailand.

The company's Managing Director Phanom Kanjanathiemthao said the market should see continuous improvement if not affected by any future political turmoil.

He said: "Although the market was slow in the second quarter due to the political situations, there was no new supply launched so it didn't affect the market much.

However, foreign investors and buyers have started making more inquiries for villas during the past two months".

Historic low borrowing rates for property investors in France

August 30, 2010 - France

The French property market has historically low fixed rate mortgage deals which are expected to remain low and even fall further, according to experts.

French mortgage specialist Athena Mortgages said it has seen a sharp rise in the number of enquiries in August from UK buyers looking to take advantage of the cheap fixed rate deals currently on offer.

Its experts predict that September could be an even busier month as rates are expected to fall even further.

As a result it has launched its lowest ever fixed rate deals, with 15 year fixed rates from 3.3%, 20 year fixed rates from 3.45%, and 25 year fixed rates from 3.60%, all at 80% LTV.

Hong Kong Moves to Slow Property Market

August 17, 2010 - Hong Kong

After months of complaints and predictions of impending disaster, the Hong Kong government has taken steps to dampen the overheated property market.

The new measures include a restriction on flipping property, hoping to stem the quick resales favored by speculators.

The government also announced tightened mortgage requirements on luxury properties purchased as investments, as well as plans to auction three sites for future development.

China property prices to fall

August 13, 2010 - China

Residential property prices in China's major cities are expected to fall later this year because of the government's tightening campaign and a coming surge in housing supply, it is claimed.

The government will not end its clampdown on housing speculation even as the economy slows and developers who try to resist lowering prices are being unrealistic, according to Wang Shi, chairman of Vanke, the country's top listed developer.

‘Property prices in some cities have risen to levels unacceptable to the middle class. Many developers who do not cut prices now are making a bet on policy,' said Wang, suggesting that they were hoping that Beijing would back down on its property controls.

Thailand’s banks warned against property bubble complacency

August 13, 2010 - Thailand

Bank of Thailand Deputy Governor Krirk Vanikkul on Monday warned commercial banks not to be complacent about the risky property market bubble, saying the problem might occur in the near future.

Although the property sector bubble remains not worrying for now, commercial banks should not be too complacent because the problem can occur anytime in the future, he said.

What the banks should do now is to look after housing loan clients closely to ensure they have no problems repaying debts, and simultaneously oversee non-performing loans to contain any increase in the system.

HSBC: Property bubble warning for Hong Kong

August 09, 2010 - Hong Kong

Hong Kong could face a property bubble if home prices continue their stratospheric rise, HSBC's CEO for the Asia Pacific region Peter Wong told Bloomberg recently.

Home prices have surged 42 per cent since the beginning of 2009 and the Hong Kong government trying to cool things off amidst worries that ordinary residents can no longer afford housing.

"Property prices are at a fairly high level right now. If it continues to increase, it may form a bubble," Wong said in an interview last week with Bloomberg Televisio

Hong Kong apartment boom continues

July 30, 2010 - Hong Kong

7,000 apartments have been completed in Hong Kong in the first half of 2010 - 97 per cent of the total amount built in 2009 - according to stats from the Transport and Housing Bureau cited in an article in the South China Morning Post.

But this flood of supply is not expected to damper the red hot property market, said analysts.

"The sharp increase in property prices in recent years is not due to tight supply, but to low interest rates and a booming economy.

Falling Property Prices In Greece Presents Opportunity For Investors

July 20, 2010 - Greece

Average real estate prices in Greece fell 7.7% in the first quarter of 2010 from a year earlier as the country steers through its first recession in over a decade.

As the country struggles to over come its debt problems it is perhaps no surprise that property is not immune to the financial woes and it does provide opportunities for real estate investors to buy at a low price.

The picture is mixed as some parts of the country have seen prices fall more than others, according to figures from Propindex and the Foundation for Economic and Industrial Research.

Beijing: Active Luxury Residential Leasing Market in 2Q2010

July 19, 2010 - Beijing

Beijing's overall investment demand for residential property market is dampened by a series of tightened policies released by Chinese government at both state and local level.

However, the Beijing luxury residential leasing market turned active, with the overall vacancy rate continuing to decline and yielding increases in rental values, meanwhile capital values of prime new luxury properties should stay firm.

As of end-2Q10, the stock of luxury residential properties totaled 59,034 units, up 1.39% q-o-q; the net absorption of the luxury residential market totaled 1,910 units, and the overall vacancy rate fell to 23.21%, down 2.21 percentage points q-o-q; rents of luxury residential properties rose by 4.64% q-o-q, or 3.70% y-o-y, to RMB140.29 psm per month.