housing market

Hong Kong tightens liquidity with $260 mil currency defence

HONG KONG (Mar 11): Hong Kong faces the likelihood of rising borrowing costs after the city’s de facto central bank intervened to defend its currency peg for the first time since August.

The Hong Kong Monetary Authority bought HK$1.51 billion ($260 million) of local dollars during London and New York trading hours after the currency fell to the weak end of its trading band, it said in a statement Saturday. The move will reduce the aggregate balance, a measure of interbank liquidity, to a decade low of HK$74.8 billion.

How Singapore property could turn on an election: Andy Mukherjee

SINGAPORE (Nov 30): Singapore is getting ready for polls. Because a single party has ruled uninterrupted since 1959, the real importance of the next election lies in the rare leadership transition that will take place afterwards.

Singapore home sales jump to 4-month high amid signs of recovery

SINGAPORE (Apr 16): Singapore home sales jumped to the highest in four months in March amid signs the property market is recovering.

Developers sold 716 units, the Urban Redevelopment Authority said Monday. That’s more than a revised 384 units in February and the highest since November. Still, sales are running at a slower pace than early last year.

Singapore housing recovery unlikely to be derailed by higher tax: industry head

SINGAPORE (Feb 23): Singapore's decision to increase stamp duty on expensive home purchases is unlikely to derail a recovery in the city-state's housing market, with modest price gains still expected this year, the head of a property developers' association said on Friday.

The government this week raised the stamp duty on the portion of a residential property's value above $1 million to 4% from 3%.

Rising en-bloc sales signal Singapore housing market recovery

SINGAPORE (June 16): Chalk up another sign Singapore’s housing market is recovering: redevelopment deals are back.

After slowing to a trickle the past three years as housing prices fell, four redevelopment deals -- where a group of owners band together to sell entire apartment blocks at a hefty premium -- have been struck already this year, with a combined value of $1.5 billion. The process, also known as “en-bloc” sales, allows developers to knock down and rebuild in a city where new residential land sales are tightly controlled by the government.

Australia house prices 'very elevated': ANZ Bank CEO

(June 6): The chief executive of Australia & New Zealand Banking Group has joined the chorus of voices warning of risks in Australia’s surging housing market, though he said the probability of an outright crash is “really low.”

Home prices are “very inflated,” ANZ’s Chief Executive Officer Shayne Elliott said in an interview Tuesday with Bloomberg Television’s Stephen Engle in Beijing. In Sydney, prices have gained 75% in the past five years, ranking it behind only Hong Kong as the world’s least affordable housing market.

US existing home sales race to more than 9-1/2-year high

WASHINGTON (Nov 23): US home resales rose in October to their highest level in more than 9-1/2 years as homebuyers, buoyed by an improving labor market, took advantage of still-low mortgage rates to snatch up properties after many were shut out during the busy summer selling season.

The jump in sales was further evidence of a pickup in economic growth early in the fourth quarter.

China’s big ball of money isn’t going anywhere near stock market

China stock market

SHANGHAI (Sept 29): This year is seen going down as the worst since 2011 for China’s stock investors as the memory of last summer’s rout lingers and speculative buying switches to the housing market.

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