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Six new property laws that will impact your investment

Parag Deulganokar Emirates 247 05.01.2011

Big Deal | Sale of Duke Mansion Brings a Lawsuit

SARAH KERSHAW The New York Times 02.01.2011
Real estate industry and property investors expect some major government initiatives to be launched this year. (GETTY IMAGES)

From an investor protection law in Dubai, to a mortgage law for Abu Dhabi, 2011 will be a watershed year for property legislation

The Duke Semans mansion on Fifth Avenue was sold for $44 million to Carlos Slim Helú.

The sale in a down market was eye-popping: $44 million, in July, for a town house that had sold for $40 million in 2006. It was the city’s biggest residential sale of 2010, and the fourth-highest price on record for a town house, according to city property data. The backstory has a winding plot worthy of an HBO or Showtime series.

Demand soars for bank loans against property

Priya Nair The Hindu Business Line 02.01.2011

Fake distressed sellers cheating property buyers in Dubai

Parag Deulgaonkar Emirates 247 30.12.2010
Demand soars for bank loans against property

Encouraged by the growing demand for loans against property as collateral, banks are trying to revive this business. But they are guarded, want to avoid the risk of over-valuation.

Picture used for illustrative purposes only. (FILE)

All property transfers need to be done through the Dubai Land Department, a senior government official has said.

Property loans up amid boom

Business World 23.12.2010
Allied Irish Banks moves £7.9bn property loans to country's 'bad bank'

Allied Irish Banks has handed over property loans worth €9.3bn (£7.9bn) to the country's bad bank as the lender's debt was downgraded along with that of many of Ireland's other major banks.

Real estate firms have launched new projects amid a demand for housing units. -- Jonathan L. Cellona

BANKS ARE extending more loans to the real estate sector amid a construction boom. Data released by the Bangko Sentral ng Pilipinas (BSP) yesterday showed that banks’ exposure to the real estate sector in terms of loans and investments in securities rose by 10.31% year on year to P415.62 billion in the nine months to September.

REITs on verge of major legal changes

TIM KILADZE The Globe and Mail 18.12.2010
REITs on verge of major legal changes

The management teams at Canadian REITS must be smiling wide today after the Department of Finance came out with its proposed amendments to the Real Estate Investment Trust rules. The current set is quite stringent. At the moment, REITs cannot hold any ‘non-qualifying’ properties in their portfolios.

Photo Release: SCB inks project finance deal with Thanya Shopping Park

THANIYA GROUP Chief Executive Officer Mrs. Sunantha Sombuntham (Second from left) and Managing Director Dr.

Nakheel deal with lenders by Jan

Emirates 247 17.12.2010
Nakheel deal with lenders by Jan

Nakheel real estate company expects to reach a final debt restructuring deal with its creditors in January before it starts issuing Dh6 billion bonds in the first quarter of 2011, its chairman was reported on Thursday as saying.

Local lawmakers feel pain of high property taxes

If you think your property taxes are too high, local lawmakers say they feel your pain. But, they also say their hands are tied because of government mandates.

Limiting Real Estate Loans

WANG JUN Beijng Review 15.12.2010

Abu Dhabi changes property rules

Eva Fernandes Kipp Report 10.12.2010
NEW REGULATIONS: A property project is under construction in Changsha, Hunan Province. The Chinese Government is resolved to curb excessively high real estate prices by limiting central enterprises' market involvement (LONG HONGQING)

China's banking regulator tightens real estate credit to central enterprises to limit the number of players in the property development market

Abu Dhabi changes property rules

A new expat property ownership law in the capital says expats can own property… but only in investment zones. Kipp takes a closer look.

ADB concerned over Singapore’s bank-loans

OJFall Property Report 09.12.2010

Singapore’s new regulatory body ramps up

OJFall Property Report 09.12.2010
ADB concerned over Singapore’s bank-loans

Concerns about Singapore’s credit lines has been raised by the Asian Development Bank (ADB), as real-estate lending accounts for more than half of total loans in the banking system.

Singapore’s new regulatory body ramps up

The new statutory board launched to regulate Singapore’s real estate industry has already received 150 complaints National Development Minister, Mah Bow Tan, has revealed. However, he is not surprised by the number, according to ChannelNewsAsia.

Loan scam may spur private equity funding in real estate

Moumita Bakshi Chatterjee The Hindu Business Line 06.12.2010
A file picture of unfinished real estate projects in Hyderabad.

With the ‘bribe-for-loan' scam casting a shadow over builders' access to bank lending, real estate funds and private equity (PE) players now sense a business opportunity.

Local Government minister Grant Shapps attacked the Local Government Association for "encouraging councils to use residents as cash cows" Photo: STEVE BACK

The Local Government Association has formally asked for the right to increase its charges for a range of services to make up for cuts in central Government funding.

HSBC Amanah Malaysia: Islamic REIT market to grow in Asia

Byron Perry Property Report 30.11.2010
Monetary Authority of Singapore: Property prices will continue to grow

Real estate in Singapore is generally though of as being overpriced – but the country’s central bank has said that prices are set to keep rising in 2011.

HSBC Amanah Malaysia: Islamic REIT market to grow in Asia

More Islamic real estate investment trusts (REITs) will launch in Asia in early 2011 and draw investors from the Arab world, HSBC Amanah Malaysia’s new head Rafe Haneef told Reuters recently in an interview.

Banks to slash Spain property prices

A Place In The Sun 27.11.2010
 
Banks to slash Spain property prices

Banks in Spain now recognise that they have no alternative but to reduce Spain property prices further if they are going to have any chance of attracting more buyers.

 
 

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Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.