Asia Property Market Review

News

Asia Pacific Property Markets Review April

April 2016

Week I

Resale prices of non-land private homes in Singapore inched up 0.4% month on month in February, according to Singapore Residential Price Index (SRPI) compiled by the National University of Singapore's Institute of Real Estate Studies. Prices of homes in the central region, excluding small units, rising 0.5% from the previous month. In the non-central region, prices of homes, excluding small units, rose 0.3%. In contrast, prices of small units, which have a floor area of 506sqf or below, fell 1.1% in February compared to a month ago. (Mar 28)

Week II

The private residential property index in Singapore fell 1.0 point to 140.6 points in the first quarter 2016 from 141.6 points in last quarter 2015,according to government land redevelopment authority. Prices of non-landed private residential properties rose by 0.4% in the first quarter in Core Central Region while prices of those in Rest of Central Region (RCR) declined by 0.4%. Prices of those in Outside Central Region (OCR) declined by 0.9%, after registering no change in the previous quarter. (Apr 1)

Total property transacted area in Shanghai fell 60.44% in the first week after the property market cool measures taking place, average sale price drop 3.42% week on week, according to data released by the local property agency. In the meantime, cities surrounding the tier-1 cities, transactions jumped up more than 60% during the same week. (Apr 4)

Number of sale and purchase agreements (ASP) of all buildings in Hong Kong rose from February’s 2,583 to 3,154 in March, but down when compared with 6,211 transactions in March 2015. Number of ASP for residential units reached 2,369 in March, up from 1,807 in February while still lower from 4,329 of March 2015. (Apr 6)

An affiliate of Singapore's sovereign wealth fund GIC has inked an agreement to buy a 25% stake in a French privately-held global real estate investment and management firm CeGeREAL, for USD476.73 million euros (SGD732.7 million), based on the total number of shares at the end of 2015. The has about USD9 billion in total assets under management. (Apr 7)

Week III

CapitaLand’s's service apartment unit Ascott Limited (Ascott) today launched a new series named the Crest Collection, incorporated Metropole in Bangkok and three of Citadines Suites properties in Paris for the debut. (Apr 13)

Week IV

Keppel Corp reported first quarter net profit of SGD211million (USD164million) for the month ended March, down from SGD360 million for the same quarter a year ago. The company said higher contribution from its property segment helped to offset lower profits from offshore and marine business during the quarter (Apr 18)

CapitaLand reported first quarter net profit of SGD218million(USD163million), up 35.4% year on year on higher income from a project divestment in Zhongguancun (Apr 19)

Las Vegas Sands' Asia division Marina Bay Sands in Singapore made earnings before tax of USD275million in the first quarter, it is 33.3% less year on year on concurrent exchange rate while 10.3% more on constant exchange rate calculation. Its Macau-based division Sands China, made profit before tax of USD518million during the first quarter, 2.5% less than first quarter 2015. Retails business in both locations recorded growth during the quarter (Apr 21)

Australia’s state of Victoria is to increase the stamp duty on property purchase from foreign buyers from 3% to 7%, while increase the land tax surcharge on foreign absentee owners to 1.5%, state Treasurer Tim Pallas said in a local interview (Apr 22)

Easterm China -based Fullshare Holdings made cash offer of total AUD 47.99 million to buy two lands at Australia's Bloomsbury, Queensland. One piece of the land is planned for tourism project, the other one is planned as landbank. (Apr 22)