JULY / AUGUST 2013 02. SPAIN
Conflicting reports on Spanish market
As property consultant RR Acuña claims that the Spanish price crash is still to happen and prices could fall 30% by 2017, a leading Marbella agent, Panorama, has just issued its comprehensive 2013 Marbella Report saying luxury properties from €3-8million are starting to sell again, powered by the ‘Golden Visa’ for overseas investors.
03. ITALY
Super-rich help agent hit record sales in Italy
Italy’s still a favourite of super-rich property investors, who helped Knight Frank International agree record sales in 2012/13, including homes priced above €6million. Prices in Liguria and Venice rose 5% in Q1 of 2013, despite some buyers awaiting tax changes from Italy’s new government. Buyers came from Asia, Benelux and Scandinavia.
04. INDIA
Indian regulator ‘may face state hindrances’
The new real estate regulator will be eff ective, despite state ‘hindrances’, but could increase prices, says Karan Khetan, Senior Analyst for Jones Lang LaSalle, in Mumbai.
The Real Estate Bill aims to create an Appellate Tribunal which will act as a housing watchdog to protect consumer interests, and a disputes mechanism will be introduced.
05.
TAIWAN
Taiwan companies ‘to invest US$2.6b’ abroad
New property regulations in Taiwan could boost investment in overseas commercial property by US$2.6billion, it is predicted.
Insurance companies controlling US$450billion of capital could previously only buy domestic property, but are now allowed to invest in real estate outside Taiwan, says leading agent CBRE Taiwan.
06. PORTUGAL
Agent sells €25m worth of homes to Chinese
Fine & Country hopes to boost prime sales at a Beijing property show by promoting the Portuguese ‘Golden Visa’. They have already secured Portuguese property sales to Chinese buyers of €25million in under three months. It is promoting its luxury portfolio and immigration potential at the Portugal-themed exhibition, 9-11 August.
08. HONG KONG
Hong Kong prices lead global index – for now
Worldwide homes prices rose 6.6% in the year to March, the highest for three years, says the Knight Frank Global House Price Index, with Hong Kong leading. Prices there rose 28%, in Beijing and Shanghai by 23.8% and in Dubai by 21.1%. This was before the government cooling measures took eff ect, and separate data for April/May shows price declines in HK.
09.
07.
UK
‘UK house sales reach 40-month high’: RICS
UK house sales have reached their highest since January 2010, with each surveyor averaging 17.9 property sales in the three months to May, says the latest Royal Institution of Chartered Surveyors (RICS) residential market survey. This is still low compared to the peak in 2006, but 35% of respondents predict transaction levels will grow.
PHILIPPINES
Philippine market ‘best for 20 years’
The market is riding high as overseas investors avoid cooling measures in Hong Kong and Singapore says Rick Santos, Chairman of CBRE Philippines: “This is the best property market in 20 years. The democratization of the housing sector, brought about by low interest rates and aff ordable payment schemes are converting more Filipinos from renters to owners.”
10.
SINGAPORE
S$1.55m houseboat at Sentosa Cove
A luxury houseboat at ‘the world’s most desirable address’ is on sale for an eye-watering S$1.55million (US$1.24m). Owned by a Singaporean couple, the 3,000 square foot home has been listed on the Asian PropertyGuru portal in the condominium section for around three months. It features four bedrooms and a fully-equipped kitchen.
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