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National Australia Bank Buys 35% of Area Property as Real Estate Recovers

David M. Levitt and Oshrat Carmiel Bloomberg News 10.03.2011
National Australia Bank Ltd., the nation’s fourth-largest lender, bought a 35 percent stake in William Mack’s Area Property Partners as the U.S. firm seeks funding to expand its global real estate investments. Photographer: Sergio Dionisio/Bloomberg

National Australia Bank Ltd. (NAB), the nation’s fourth-largest lender, bought a 35 percent stake in William Mack’s Area Property Partners as the U.S. firm seeks funding to expand its global real estate investments.

No bubble in the Philippines, says BPI Family Savings Bank honcho

The Philippine property sector has not shown any signs of a mortgage bubble says the president of BPI Family Savings Bank, one of the country’s leading consumer lending banks.

Mosaic in Makati is one of the condominium projects under the VLL's Camella Residences brand.

The Philippines’s largest homebuilder and developer Vista Land & Lifescapes, Inc. (VLL) has secured a PHP 500 million (US$11.5 million) loan from Security Bank Corporation, one of the country’s largest commercial banks.

Singapore property agents required to display ID cards while working

All property agents in Singapore must display their Estate Agent Card prominently when working beginning on March 1, AsiaOne has reported.

Tax rebates, property cooling measures expected in Hong Kong budget

HONG KONG: The Hong Kong government is due to unveil its budget for Fiscal 2011-2012 on Wednesday. With an expected budget surplus of up to US$10 billion, Financial Secretary John Tsang is expected not only to hand out some short-term relief to Hongkongers but also target inflation and cool the property market.

Jacqueline Cohen, pictured, and Vaughan Smith, potters, are moving from Ulster County to Nova Scotia, citing their high taxes.

Gov. Andrew M. Cuomo’s campaign to cap property taxes has angered school and municipal officials who say that limiting local tax revenue will make it impossible for them to cover rising expenses and will result in drastic cuts in services.

Spanish banks display their risky appetite for property

Big mortgage loans keep Spanish savings banks tied to real estate market and hoping for a brighter future in property. They are officially banks but they have become Spain's main real estate agents, according to data from the country's banking sector which reveals the extent of their risky property assets.

The practicalities of property finance

The number of responses and inquiries prompted by last week's "Net Worth" article has made it clear that there are many expats in Thailand who recognise the benefits of investing in property here or in other parts of the world and are interested in doing so. The questions were varied and sensible.

NAMA central to €99.9m Google D4 property deal

Laura Noonan The Independent 19.02.2011

Florida real estate dragged Giordano’s into bankruptcy

Alejandra Cancino and Becky Yerak Chicago Tribune 19.02.2011
Google had a particular interest in Montevetro since the online giant already has a significant operation across the road at the Gasworks

THE National Asset Management Agency (NAMA) yesterday claimed its first public victory in the property market, announcing the "intrinsic role" it had played in the €99.9m sale of the Montevetro building to internet giant Google.

Florida real estate dragged Giordano’s into bankruptcy

That’s what attorney Michael Gesas, who represents the Apostolou family businesses, said Friday while explaining the reasons prominent Chicago pizza chain Giordano’s filed for bankruptcy reorganization on Wednesday. The Apostolou family owns Giordano’s.

Property prices and lending down in the UK

RAY CLANCY Property Community 03.02.2011
Property prices and lending down in the UK

Residential property prices in the UK have fallen five times in seven months as the latest figures from the Nationwide show they decreased by 0.1% in January. Lending to buyers is also down; to the lowest levels since Bank of England records began.

A man walks past buildings under construction at a residential complex in Chongqing municipality, January 28, 2011. The cities of Shanghai and Chongqing led China in introducing its first-ever property tax for home buyers this week, revving up the government's battle to curb record home prices and tame inflation.

China’s first-ever property taxes, introduced this week, are unlikely to curb skyrocketing home prices, industry experts here warn, as pent-up demand from young middle class couples continues to boom.

Kevin Lacey, the Atlantic director of the Canadian Taxpayers Association, speaks to a large crowd gathered at St. Margaret’s Community Hall about property tax assessments in Grand Mira South on Sunday. Joe Gillis, left, and Francis Gillis of the Cape...

GRAND MIRA SOUTH — The Canadian Taxpayers Association is backing a newly formed group in the Cape Breton Regional Municipality that’s lobbying municipal council to voice its support for the capped assessment program.

Singapore’s proposed new loan regulations to have little effect on market

Proposed new regulations by the Monetary Authority of Singapore (MAS) to tighten mortgage equity withdrawal loans (MWL) won’t impact the property market very much if they are implemented, according to an article in the Today newspaper.

The Camko City development outside Phnom Penh has reported an uptick in sales.

New foreign-ownership laws in Cambodia have boosted condo sales at several developments in the capital Phnom Penh.

GST Laws for Australian Residential Property to be Amended After Federal Court Ruling

The Commonwealth Government has moved quickly to clarify how residential property is treated under the GST, following a Full Federal Court decision last year that found GST was not payable on the full value added to premises by developers in some circumstances.

Thailand’s Property and Land Tax bill postponed

Kanchana Paha Property Report 16.01.2011
Thailand’s Property and Land Tax bill postponed

Hope of passing a land and building tax bill in Thailand will have to be postponed until the next government, according to a report in the Bangkok Post newspaper.

Singapore government announces more anti-speculation measures

Singapore’s government announced a new round of cooling measures yesterday aimed at keeping the property market stable and sustainable. The latest measures – the fourth round in 16 months – are as follows:

6 new property laws that will impact you

Parag Deulganokar Emirates 247 06.01.2011
 
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

 
 

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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.