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Osborne: Interest rate rise could be on the horizon

Chancellor George Osborne has indicated a Bank of England base rate rise could be on the horizon in a speech delivered in Cardiff today. Osborne said the decision to raise the rate is up to the Bank of England alone, but added that US Federal Reserve rate increase on 16 December has started a discussion […]

Hong Kong Luxury Property Prices ‘Set For Correction’

Report predicts a 5% drop in high-end home prices in 2016 Hong Kong’s stubbornly high luxury property prices may be in for a correction in 2016. After years of stellar growth, luxury residential prices in the former British colony are forecast to fall 5% this year, according to a recent report by consultancy Knight Frank. If […]

Unstoppable foreign investors are the real drivers of London property

Overseas investors – not Brits – are fuelling the British capital’s real estate boom For centuries, London has been the seat of kings and queens. Since Alfred the Great settled there in 886 AD, royalty has owned some of the city’s most iconic buildings, their grandeur symbolising the wealth and power of a thriving and influential […]

Eight things you need to know about the Stamp Duty consultation

The government has published its consultation on the proposed 3% Stamp Duty surcharge for additional purchases of residential properties, with responses due by 1 February. In his Autumn Statement and Spending Review last year, Chancellor George Osborne announced plans which will affect buyers who already own one or more residential properties looking to purchase a second home or a […]

Foreign developers go all-out for commercial complexes in Yangon

Target consumers – Myanmar’s emerging middle class – will double in size by 2020 As one of the poorer countries in ASEAN, Myanmar’s property market is not quite as well-developed as some of its Southeast Asian neighbours, but it is slowing catching up as a new wave of foreign commercial development in Yangon, the country’s biggest city, is […]

Australian regulator cracks down on land bank schemes

Australia’s main financial regulator is seeking to wind up two land banking schemes as part a crackdown on the real estate investment vehicles. Land banking schemes typically involve the acquisition of large blocks of land by a promoter or developer, often in undeveloped rural areas, who then offer portions of the land to investors. The […]

From ghost city to boomtown, Phnom Penh soars high

From glitzy malls and high-rise flats to five-star hotels, a luxury building boom in Phnom Penh is transforming a capital once reduced to a ghost town into one of Asia’s fastest growing cities. Inside the recently opened Aeon Mall in the heart of Phnom Penh, Cambodia’s first mega shopping centre, shoppers and curious residents flock […]

EU referendum is biggest uncertainty for UK property market – Savills

A referendum on whether Britain remains part of the European Union is the biggest uncertainty facing the buoyant British property market next year, property group Savills said on Wednesday. Prime Minister David Cameron is renegotiating Britain’s membership of the 28-member bloc ahead of a public vote due by the end of 2017, but Savills said […]

Sales to rise, prices to fall, say Yangon real estate agents

Real estate is likely to bounce back in 2016 after more than a year of depressed sales, while prices will fall as new supply comes online, said investors and agents. Following a relatively smooth election, the volume of transactions will be “back to normal”, they said, referring to last year when the industry was thriving. “There […]

Mortgage lending reaches highest monthly level since 2008

Gross mortgage lending reached its highest monthly level since July 2008 climbing to £21.8bn in October, figures from the Council of Mortgage Lenders (CML) show. Figures for the third quarter of the year showed an 11% year-on-year rise in the value of mortgage lending and an 8% increase on September. Bob Pannell, CML chief economist, said […]