KUALA LUMPUR: Consumers in Asia/Pacific, Middle East and Africa region stated one of the main reasons for saving is for property acquisition, according to the latest survey by MasterCard.

Apart from having an emergency stash, the other main reasons for putting money aside are for investing (46%), retirement (45%), and buying property (40%). 

SYDNEY: Australia’s housing affordability dropped 3.3% in 3Q as interest rates at half-decade low and government grants to first-time buyers fuelled demand and prices for property, according to the Housing Industry Association (HIA).

LONDON: The worst of the global commercial property meltdown is over, although the recovery will be uneven as rebounding markets in Asia and Europe contrast with more subdued US conditions, a report said on Oct 21.

The rally is supported by the improving global economy, investor sentiment, market liquidity and corporate balance sheets, Jones Lang LaSalle Inc said in the report.

TEL AVIV: Israel, the best-performing residential property market this year, may lose its standing after becoming one of the first countries to raise interest rates since the global recession began.

KUALA LUMPUR: Atis Corporation Bhd is raising its shareholding in property developer Mutiara Goodyear Development Bhd to 30.28% with the proposed acquisition of an additional 9.26% stake for about RM20.74 million cash.Atis said on Wednesday, Oct 21 the 9.26% comprised of 21.38 million shares acquired from Lim Beng Guan and Laman Arif Sdn Bhd.

LOS ANGELES: Apartment rents declined throughout the US West and South in 3Q as rising unemployment made it harder for landlords to raise their rates.

KUALA LUMPUR: CIMB Thai Bank plc, a 94% subsidiary of the CIMB Group Holdings Bhd, is selling its office block in Sathorn, Bangkok for one billion baht (RM101.061 million), as part of its rationalisation plan to increase efficiency and reduce costs.

The sale is expected to be completed by December, it said in a statement here on Oct 21.

SHANGHAI: China's planned launch of a real estate investment trust (REIT) market will give mutual fund companies access to areas other than stocks and bonds, helping them to compete with banks, insurers and trust firms, a researcher at China's securities regulator said on Oct 21.

HONG KONG: The Hong Kong Monetary Authority declined comment on Oct 21 on a report that it was considering raising the downpayment required to buy luxury property amid fears of a property bubble, but said HKMA chief Norman Chan had discussed the property market with banks this week.

KUALA LUMPUR: Land & General Bhd (L&G), the developer of Bandar Sri Damansara, plans to undertake a major 40-odd acre condominium development with an estimated gross development value (GDV) of RM1 billion in the township next year, said managing director Low Gay Teck on Oct 21.