SHANGHAI: China plans to start levying property tax in 2012 in a pilot programme that will first be rolled out in several cities, the National Business Daily reported on Thursday, July 22, citing unidentified participants of a seminar held by the Ministry of Finance.

KUALA LUMPUR: Sunway City Bhd (SunCity)’s Human Capital Development Department, under its property development division, won the HR Achievement Silver Award, the property developer announced in a statement on Wednesday, July 21.

KUALA LUMPUR: RHB Investment Bank Bhd, the stabilising manager of Sunway Real Estate Investment Trust (Sunway REIT), has purchased units in the trust again.

In a filing to Bursa Malaysia on Wednesday, July 21, the trust bought some 1.8 million units in the trust at 89.5 sen on July 20.

KUALA LUMPUR: Nearly all of the 5% decline in housing production was on the multifamily side in June, which fell 21.5% to a seasonally adjusted annual rate of 95,000 units, according to newly released figures by the US Commerce Department.

KUALA LUMPUR: Impiana Land and Development Sdn Bhd’s twin tower condominiums known as Semarak and Penaga Condominiums in Taman Raintree, Batu Caves, Gombak has seen a take-up rate of 90% since the condominiums were launched in January.

“We hope to see full take-up by the end of this year… it is achievable,” said its sales and marketing agent, Martin Teo.

SHANGHAI: Supply of new homes in Shanghai is expected to be halved next month as property developers wait on the Chinese government’s next move in real estate regulations.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis-REIT) has spotted three potential assets that are worth about RM190 million for acquisitions to expand its portfolio in addition to the four purchases that have been revealed earlier this year.

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."