BEIJING: Demand for luxury residential leasing in Beijing in the second quarter boosted rentals and yields, leading to a slight improvement in the high vacancy rates in the sector.

HONG KONG: Just over a year ago, the headline price for 39 Conduit Road was HK$71,280 (RM29,414.79) per square foot, but recently the developer announced that all but four of the 24 properties sold for record prices had fallen through.

HONG KONG: When owners of flats in older buildings in Mid-Levels became the target of buyout offers from developers aiming to redevelop the buildings, owners were presented with the choice of accepting the offers or fighting for more.

Richard Wright, who owned a flat in Merry Terrace, decided on the latter course because, as he put it: "I am in charge of my own destiny."

HONG KONG: Homebuyers have turned in large numbers to funding their purchases with loans based on interest rates in the Hong Kong interbank offered rate market (Hibor) because of the lower borrowing costs they offer — at least in the short term.

HONG KONG: The first half of the year closed on a positive note for Hong Kong property and signs are that the rebound in buying sentiment is set to continue for the rest of the year, agents say.

Examples they cite include:

WASHINGTON: Builder confidence in the US market for newly built, single-family homes continued to fall for two straight months, underpinned by tight consumer credit, continuing competition from foreclosed and distressed properties, as well as consumer hesitancy towards purchasing homes, said the National Association of Home Builders (NAHB).

KUALA LUMPUR: Manufacturing and property development company KYM Holdings Bhd is acquiring three contiguous parcels of leasehold land in Genting Highlands for RM3 million.

KUALA LUMPUR: Land rates in 105 cities in China rose to 2,756 yuan (RM1,306) psm in 2Q2010, or 9.29%, according to the Shanghai Daily on Tuesday, July 20.

The newspaper reported that China's Land Surveying and Planning Institute, which is under the Ministry of Land and Resouces, said on July 19 that land prices went up 1.52% compared to 1Q2010.

KUALA LUMPUR: The overall Beijing office market experienced a recovery in 2Q2010, with a significant increase in leasing transaction volume and the overall vacancy rate dropping due to several new completions in the market, according to Colliers International in a report released on Tuesday, July 20.

Property Sector
IFRIC 15