SHENZHEN: Transaction costs on sales of flats in Shenzhen could rise next month when the municipal government begins levying an alternative tax aimed at tackling sellers evading taxes on gains from their flat sales.

HONG KONG: Developers may put the sale of new projects on hold to gauge market sentiment after the announcement last week of new measures to curb speculation in the property market, some agents say.

Others, though, say the measures may speed up the release for sale of new flats.

LONDON: Hong Kong investors grabbed a growing share of newly built homes in London over the past 12 months, consolidating their ranking as the biggest group of overseas buyers in the market.

The strength of demand today is greater than in the 1990s, when the first great wave of Hong Kong property investment hit London, estate agents say.

HONG KONG: The cost of renovating a flat has risen by 30% in a year as a result of the appreciation of the yuan and pay rises for workers.

"The daily salary paid to workers increased from HK$700 (RM272.63) last year to up to HK$900 this year, and the prices of materials from the mainland have risen by between 20 and 30%," said interior designer Kelvin Chan Lai-sin.

KUALA LUMPUR: Standard & Poor's Ratings Services has revised its industry outlook for China's real estate development sector to negative from stable, as credit conditions in that country have become increasingly challenging.

KUALA LUMPUR: CapitaMalls Malaysia Trust (CMMT) has entered into a conditional sale and purchase agreement to acquire East Coast mall in Kuantan, Pahang, priced at RM310 million.

In its announcement to Bursa Malaysia on Tuesday, June 14, CMMT noted that the total acquisition cost would come up to about RM330 million after factoring in the acquisition fee and expenses.

HONG KONG: Hotel ICON, an upscale hotel in Tsim Sha Tsui East, announced its soft opening here on Tuesday, June 14.

SEOUL: Daewoo Engineering & Construction Co, South Korea's fourth-largest builder won a US$190 million (RM575.7 million) deal to build a luxury hotel in Kuala Lumpur, reports South Korea's Yonhap news agency on Tuesday, June 14.

LONDON: The BBC has put its landmark Television Centre broadcasting hub up for sale under plans to cut its property holdings by 30%.

The disposal of the 51 year-old building in London's White City district could raise more than £300 million (RM1.49 billion) for the publicly-funded broadcaster.

CapitaMalls Malaysia Trust (June 13, RM1.17)