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Home prices in Beijing to remain steady, agents say

HONG KONG: Beijing home prices are expected to maintain a steady course during the remainder of the year, supported by the city mayor's unexpected pledge not to use administrative measures to intervene in the market.

Hollywood sign gets makeover for fundraising drive

LOS ANGELES: Hoping to prevent the famed view of the Hollywood sign from being spoiled by development, a group set out on Tuesday Feb 9 to raise US$5 million to buy a nearby hilltop peak once owned by billionaire Howard Hughes.

British Land's bumper 3Q cheers banks

LONDON: British Land's surprise 18% rise in net asset value lifted spirits among property landlords and lenders on Feb 9, but is unlikely to muffle doomsayers who claim a pricing bubble is already in prospect.

Buyers warned of HK property bubble

HONG KONG: The Hong Kong property market has risen too fast and buyers must look out for a bubble, according to Justin Chiu Kwok-hung, Cheung Kong (Holdings) executive director. "The rise is a bit unusual," Chiu said on Feb 8. "There should be a correction at some point."

LaSalle seeks property developments in Australia

SYDNEY: LaSalle Investment Management is seeking local partners to invest in Australian property developments and boost returns for its US$3 billion (RM10.32 billion) opportunity fund, a top executive said on Feb 9.

In China, housing boom spreads to the poor centre

XINYANG, China: Fan Wenbao swears he is not in the business of speculating on property. Already the owner of one home in Xinyang, a grimy city in the poor central province of Henan, he bought two more there last year.

"It's an investment not to make money but to save money. Interest rates in the bank are too low," said Fan, a real estate agent in a shiny silver suit.

Shanghai land plot auctioned at record price, Shanghai Daily reports

SHANGHAI: A piece of land located strategically close to China’s famous Nanjing Road in Huangpu District measuring 13,709 sq m has been auctioned on Feb 8 at 3.41 billion yuan (RM1.72 bilion). The land is known as the most expensive plot of land in China, according to Shanghai Daily.

Urban renewal policy to redevelop slums in urban Sarawak

MIRI: Sarawak is introducing an urban renewal policy aimed at re-developing certain sections of cities and towns in the state that have turned into slums.

State Housing and Urban Development Minister Datuk Amar Abang Johari Tun Openg said on Feb 9 the policy included re-developing deplorable housing estates to

make way for better and environment-friendly neighbourhoods.