Luxury Real Estate Blog and News

Indonesia mulls allowing foreign ownership of property

January 11, 2010 - Indonesia
Foreigners in Indonesia may be given the right to stay and own property in the country so they can contribute to the national economy, Public Housing Minister Suharso Manoarfa has said. "Our old perspective with regard to foreigners must be changed. If so far only foreigners who have already contributed to investment are allowed to stay, now any foreigner should be given the freedom to stay and thereby we will be attracting more and more investment," Monoarfa said on Thursday.

Aspen, Co.

January 09, 2010 - Colorado
This star-studded retreat remains one of America’s priciest real estate hotspots where the well-heeled cash in on a Gatsby-like vision of the American Dream. Aspen, a mountain town of approximately 6,000, is named after the abundance of aspen trees in the area, and was first founded as a mining camp during the Colorado Silver boom. Over the last century, however, the pristine alpine terrain and quaint village setting have become a popular resort and tourist destination. Visitors flock to Aspen’s award-winning ski slopes, its renowned film festival and cultural diversions, high-end shopping boutiques and myriad of fine-dining restaurants.

In Retrospect: 2009

December 29, 2009 - Singapore
At the end of fourth quarter of 2008 with the onset of the global financial crisis after the Lehman Brothers collapse (and the fiasco of sub-prime loans), doomsday scenarios for global financial markets were making the headlines every other day. Analysts were claiming that the year of 2009 would be an uphill struggle. Over a year later, financial and real estate markets in Asia and SEA have moved ahead albeit a stuttering start to the year. Analysts have attributed it to many reasons.

Chinese rush to pawn properties to buy more to beat end of year tax deadline

December 22, 2009 - Beijing
Property owners in Beijing are pawning their apartments as they attempt to secure quick cash to buy new properties to take advantage of a tax exemption policy due to end on December 31. Pawnbrokers are reporting a huge increase in the number of property hunters offering apartments as collateral on short term loans at pawnshops because they can get their money faster than through the banks even though interest rates are much higher interest at between 3 to 3.2%.

Hong Kong Government Takes Steps To Prevent Housing Bubble

December 14, 2009 - Hong Kong
The Hong Kong Monetary Authority, the city’s central bank, last month imposed tighter mortgage restrictions, which Hong Kong Chief Executive Donald Tsang said were to stave off a big property bubble following soaring prices this last year. The action taken by the HKMA was on October 23rd, and it cut the mortgage limit from 70 percent of the property’s value to 60 percent, on property worth HK$20 million (US$2.6 million) or more. For properties below that figure, the 70 percent ratio stayed in place but the HKMA capped the maximum loan amount at HK$12 million.

Tax issues when buying overseas homes

December 14, 2009 - Thailand
The tourist high season will often see some visitors to the Kingdom tempted into making a more permanent connection with Thailand. If you are considering the purchase of a holiday home in Thailand, here are some tax pointers to help you on your way.

Worlds rich plan to invest more in property, survey shows

December 07, 2009 - United States
The richer you are the more likely you are to invest in property which is now regarded as better opportunity for long term returns that stocks and bonds, according to a new survey. Twice as many people plan to increase their investment in residential and commercial property as intend to reduce, the global survey from Barclays shows. It is those with more than $800,000 to invest that are leading the property investment race and the extent of their plans for real estate has amazed researchers.

Massive interest from buyers at luxury development throughout India

December 07, 2009 - India
The luxury property market in India is booming as buyers wait in line for popular properties. As the market rebounds builders have started construction at projects that had previously been held at the planning stage. "There are buyers who were sitting on the fence since last year who have now decided to buy,” said Pranay Vakil, Chairman, Knight Frank India Private Limited. Lalit Kumar Jain, Chairman and Managing Director of Pune-based Kumar Builders added: “Our research has shown that there is a market for such houses and people are ready to pay for luxury."

Buying Property in Malaysia

December 04, 2009 - Malaysia
The Malaysia Property Buyers Guide will give you an idea of the buying process and some useful tips for your property purchase in Malaysia. 1 - Foreigner buyers may purchase proper ties valued above RM150,000 and in some states above RM250,000. (US$ 42,000 – US$72,000). 2 - A 10% deposit must be paid upon signing the Sale & Purchase Agreement. Consent from the State Authority is required. This takes approximately three months. ...

Penang's luxury homes market

December 03, 2009 - Penang
In recent years, Penang has become the site of an increasing number of high-end developments – and celebrities from around Asia have been quick to snap them up. Jackie and Maggie Chan own a luxury residence in Penang, as does renowned Malaysian actress Michelle Yeoh, who owns an apartment at the Millennium Tower on Gurney Drive. One of the most talked about residences is the 30 storey Cheras – where to Andy Lau and his girlfriend Carol Zhu own a penthouse with sweeping views of the island. The building is frequently scoped out by Chinese tourists hoping to catch a glimpse of the couple.