Archive for June 18th, 2008
Posted by luxuryasiahome on June 18, 2008
A luxury flat in Hong Kong has sold for HK$225 million (US$28.8 million), the most expensive apartment per square foot ever sold in Asia, a report said on Wednesday.
The 80th floor penthouse with a private swimming pool and spectacular view of Hong Kong’s Victoria Harbour sold for HK$41,000 per square foot, a report in the Sing Tao Daily said, citing an unnamed real estate source.
The 5,497-square-foot (511-square-metre) flat, with its own roof-top terrace, is located in a new complex called The Arch, in Hong Kong’s Kowloon area.
The Arch is close to a yet-to-be-completed office tower, the International Commerce Centre.
The new tower is attracting multinational firms away from the central business district, where rocketing property prices have scared away even the world’s richest firms.
The flat’s price beat the record of HK$39,800 per square foot set last November for a larger apartment on Hong Kong island, according to the report.
Hong Kong’s property market has boomed in recent years, following a major crash during the Asian financial crisis in the later 1990s. — AFP
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: Hong Kong Property, Kowloon Property, Luxury Homes, Most Expensive Home in Asia, The Arch | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
A luxury flat in Hong Kong has sold for HK$225 million (US$28.8 million), the most expensive apartment per square foot ever sold in Asia, a report said on Wednesday.
The 80th floor penthouse with a private swimming pool and spectacular view of Hong Kong’s Victoria Harbour sold for HK$41,000 per square foot, a report in the Sing Tao Daily said, citing an unnamed real estate source.
The 5,497-square-foot (511-square-metre) flat, with its own roof-top terrace, is located in a new complex called The Arch, in Hong Kong’s Kowloon area.
The Arch is close to a yet-to-be-completed office tower, the International Commerce Centre.
The new tower is attracting multinational firms away from the central business district, where rocketing property prices have scared away even the world’s richest firms.
The flat’s price beat the record of HK$39,800 per square foot set last November for a larger apartment on Hong Kong island, according to the report.
Hong Kong’s property market has boomed in recent years, following a major crash during the Asian financial crisis in the later 1990s. — AFP
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: Hong Kong Property, Kowloon Property, Luxury Homes, Most Expensive Home in Asia, The Arch | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
A luxury flat in Hong Kong has sold for HK$225 million (US$28.8 million), the most expensive apartment per square foot ever sold in Asia, a report said on Wednesday.
The 80th floor penthouse with a private swimming pool and spectacular view of Hong Kong’s Victoria Harbour sold for HK$41,000 per square foot, a report in the Sing Tao Daily said, citing an unnamed real estate source.
The 5,497-square-foot (511-square-metre) flat, with its own roof-top terrace, is located in a new complex called The Arch, in Hong Kong’s Kowloon area.
The Arch is close to a yet-to-be-completed office tower, the International Commerce Centre.
The new tower is attracting multinational firms away from the central business district, where rocketing property prices have scared away even the world’s richest firms.
The flat’s price beat the record of HK$39,800 per square foot set last November for a larger apartment on Hong Kong island, according to the report.
Hong Kong’s property market has boomed in recent years, following a major crash during the Asian financial crisis in the later 1990s. — AFP
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: Hong Kong Property, Kowloon Property, Luxury Homes, Most Expensive Home in Asia, The Arch | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
Keppel Land has bought a 10 hectare site in Shenyang’s Shenbei New District for about S$31 million.
This parcel is located next to another site which Keppel bought in August 2007.
The combined area of some 34 hectares will house an integrated township development, with a mix of mid- and high-rise apartment blocks.
The new township is surrounded by residential, commercial, high technology industrial developments and educational institutions.
The development, which is scheduled for completion in 2013, will have about 5,600 homes, with a total gross floor area of over 675,000 square metres.
The first phase of the development, targeted at upper and middle income home buyers is due to be launched in 2009.
Shenyang is the capital city of Liaoning Province. It is seen as an important industrial and transportation centre in northeast China. – CNA/vm
Source : Channel NewsAsia – 18 Jun 2008
Posted in Developer News, General, Overseas Property | Tagged: China Prioperty, Developers, Keppel Land, Shenbei New District, Shenyang | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
Applications for US home mortgages dropped for the fourth week in the last five as soaring rates on standard, fixed-rate mortgages choked off refinancing opportunities, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity fell 8.7 per cent to 508.4 in the week ended June 13.
The MBA’s seasonally adjusted index of refinancing applications tumbled last week by 15 per cent to 1,378.6 – its lowest since July 2006. The gauge of loan requests for home purchases declined 4.3 per cent to 360.2.
Fixed 30-year mortgage rates averaged 6.57 per cent in the week, up 33 basis points from the prior week and the highest since July 2007.
Yields on fixed-income securities that drive mortgage rates have surged this month as a chorus of central bankers, led by Federal Reserve Chairman Ben Bernanke, shed light on the potential for faster inflation in the months ahead. Benchmark 10-year Treasury note yields have climbed almost a full percentage point over the past three months.
The increase in mortgage rates is removing one of the few supports to the US housing market that has been in decline since 2006. Costlier interest rates have hurt the outlook for US homebuilders that have been trying to dig themselves out from burgeoning inventories of unsold homes, the National Association of Home Builders said on Monday.
The only sub-indexes to increase were those that measured applications for government programmes run by the Federal Housing Administration and the Veterans Administration. The volume of loans guaranteed by the FHA has soared this year as borrowers locked out of refinancings by lenders who have tightened credit standards scramble to escape high-cost loans. — REUTERS
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: Mortgage Bankers Association, US Home Mortgages, US Mortgage Market, US Property | 1 Comment »
Posted by luxuryasiahome on June 18, 2008
China’s property outlook index, which covers price and investment trends in the sector, fell to 103.34 points in May from 104.07 in April, the National Bureau of Statistics said on Wednesday.
The index has been falling since it peaked at 106.59 in November.
The index distils trends in investment, prices, and supply and demand in the real estate market into a composite figure representing the sector’s overall health.
A reading above 100 indicates positive or improving conditions, while one below 100 indicates negative or worsening ones. — REUTERS
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: China Property, China Property Outlook | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
China’s property outlook index, which covers price and investment trends in the sector, fell to 103.34 points in May from 104.07 in April, the National Bureau of Statistics said on Wednesday.
The index has been falling since it peaked at 106.59 in November.
The index distils trends in investment, prices, and supply and demand in the real estate market into a composite figure representing the sector’s overall health.
A reading above 100 indicates positive or improving conditions, while one below 100 indicates negative or worsening ones. — REUTERS
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: China Property, China Property Outlook | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
China’s property outlook index, which covers price and investment trends in the sector, fell to 103.34 points in May from 104.07 in April, the National Bureau of Statistics said on Wednesday.
The index has been falling since it peaked at 106.59 in November.
The index distils trends in investment, prices, and supply and demand in the real estate market into a composite figure representing the sector’s overall health.
A reading above 100 indicates positive or improving conditions, while one below 100 indicates negative or worsening ones. — REUTERS
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: China Property, China Property Outlook | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
China’s property outlook index, which covers price and investment trends in the sector, fell to 103.34 points in May from 104.07 in April, the National Bureau of Statistics said on Wednesday.
The index has been falling since it peaked at 106.59 in November.
The index distils trends in investment, prices, and supply and demand in the real estate market into a composite figure representing the sector’s overall health.
A reading above 100 indicates positive or improving conditions, while one below 100 indicates negative or worsening ones. — REUTERS
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: China Property, China Property Outlook | Leave a Comment »
Posted by luxuryasiahome on June 18, 2008
China’s property outlook index, which covers price and investment trends in the sector, fell to 103.34 points in May from 104.07 in April, the National Bureau of Statistics said on Wednesday.
The index has been falling since it peaked at 106.59 in November.
The index distils trends in investment, prices, and supply and demand in the real estate market into a composite figure representing the sector’s overall health.
A reading above 100 indicates positive or improving conditions, while one below 100 indicates negative or worsening ones. — REUTERS
Source : Business Times – 18 Jun 2008
Posted in General, Overseas Property | Tagged: China Property, China Property Outlook | Leave a Comment »
