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.

The Serenade, Hong Kong

August 25, 2010 - Tai Hang

Located in Tai Hang and flanked by Mount Butler to the back and sweeping views of Victoria Harbour to the front, this new 54-storey twin-tower residence offers 270 luxury units, including 30 upper floor sky-house units (241 sq m), and just four exclusive pre-penthouse and penthouse units (344 to 371 sq m) occupying an entire floor.

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.

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.

Beirut Terraces by Herzog & de Meuron

July 28, 2010 - Lebanon

Swiss architects Herzog and de Meuron have designed this apartment tower, seen over at Dezeen, with overhanging floor plates and terraces for Beirut, Lebanon.

Created as part of a wider masterplan to regenerate this area of the city that includes a marina, the building will comprise five different modular floor slabs used in varying combinations to create a mixture of overhangs and terraces.

The residential tower provides the platform for a vertical village where community living and sustainability are key design features.

Boulevard Vue – Singapore Luxury Condo in Orchard

July 27, 2010 - Singapore

Located just next to Orchard Road, this sculptural, glasssheathed building will soon house a collection of 26 apartments, with just one unit per floor, and two luxurious penthouses.

Apartments start at 418 sq m, each served by two private lifts, while penthouses encompass over 1,000 sq m and feature private swimming pools.

All units come with three designated garage spaces - each large enough to accommodate a Rolls Royce.

Expatriates fueling luxury leasing market in Hong Kong

July 23, 2010 - Hong Kong

Expatriates with families, arriving in town prior to the start of the new school year in September, are fueling luxury residential leasing demand in Hong Kong, according to new research from Savills Hong Kong.

Southside, with more choices of private or international schools, is a favoured location with rents up by 4.6 per cent over the quarter, the report discovered.

The second quarter is a traditional seasonal peak for Hong Kong's luxury residential leasing market, as expatriate families arrive in town prior to the start of the new school year in September.

Sales frenzy at Larvotto in Hong Kong

July 22, 2010 - Hong Kong Island

Buyers snapped up 92 units at an average of HK$40 million (US$5.14 million) in Sun Hung Kai Properties' Larvotto development in Island South, Hong Kong over last weekend.

The developer, which is the biggest in the world by market value, will consequently put another 50 units on the market as early as this week.

"Demand has exceeded supply," said Victor Lui, an executive director at Sun Hung Kai's agency arm. "All of the units were sold within the first few hours after sales began."

Reflections at Keppel Bay

July 14, 2010 - Singapore

Situated in the waterfront precinct of Keppel Bay on Singapore's southern shoreline, this project is comprised of six undulating glass towers and 11 villa apartment blocks designed by Daniel Libeskind, the American architect renowned for the Jewish Museum in Berlin, the Denver Art Museum and for master-planning the Freedom Tower project.

Since the 2007 launch, 70 per cent of the project's 1,129 apartments units have been sold. The most exclusive units are the project's 34 penthouses, which range from 334 to 760 sq m.

The project also includes a "super penthouse" - the largest built in Singapore to date, which spans 1,200 sq m over three floors.

Du Parc Kempinski- the most expensive property in Switzerland

July 09, 2010 - Switzerland

Old-school opulence meets modern chic at the Du Parc Kempinski Private Residences, along with some of the finest views the eye could wish for. Welcome to Switzerland's most breathtaking new luxury experience

A short trip from Vevey, one can find the ultra-exclusive Du Parc Kempinski Private Residences - currently being redeveloped into three penthouses and 21 apartments.

The Belle Epoque-style structure sits on top of Mont-Pèlerin, within the UNESCO-protected vineyards of the Lavaux region and overlooking both the Alps and Lake Geneva.