Sicilian Town In Italy Is Giving Away Free Homes

Do you want a house for free? The Sicilian town of Gangi, tucked away in the central part of the country, needs newcomers to replace its vanishing populace. So the local government has decided to offer up vacant homes to businesses that want to spruce up the area with hotels and individuals looking for a … Read more

Ex-Property Agent Get Jailed, Fined $100K For Bribery

The ex-property agent – Goh Chan Chong, 40, was  found guilty on 2 corruption charges after, he offered bribes to a senior manager from United Engineers Development in order to get priority access to a launch of The Rochester in North Buono Vista in 2007. He was sentenced to 12 weeks’ imprisonment and fined a $100k on 31 … Read more

Stop Rich Foreigners Investors From Buying Property In London

London’s new mayor Sadiq Khan plans to introduce restrictions on foreigners looking to buy property in London, in an effort to combat money-laundering, reported the UK’s Evening Standard. Various news reports in recent years have claimed that many overseas buyers, particularly from Russia and China, have been using London’s housing market to launder billions of … Read more

Malaysian Starts RM9.25bil Project In Jinan

JINAN (China): Malaysian tycoon Tan Sri Lim Gait Tong has started construction work on a planned 15bil yuan (RM9.25bil) integrated property project in Qihe, a north-west satellite town of Jinan, the capital city of Shandong province. The first phase of this cultural and touristic project, which has been named Asean International Eco-City, was launched in … Read more

Aussie Banks Clamp Down On Foreign Property Buyers

Australian banks have introduced more stringent loan application rules for foreign property buyers, including the country’s four largest lenders – NAB, ANZ, Westpac and Commonwealth Bank, reported The Straits Times. Among the tougher rules implemented in recent weeks include reducing the loan-to-value ratio from 80 percent to 70 percent for borrowers who rely on overseas … Read more

More New Homes Being Auctioned Off

Data from property consultancy JLL revealed that a higher number of newly built and uncompleted houses have been placed on the auction block so far this year, amidst a sluggish rental market and a supply glut stemming from the market heydays in 2011 to 2013, reported The Straits Times. To date, 13 units of completed … Read more

UK Still A Big Draw For Asian Property Investors

UK-based Select Property Group recently opened an office at the CapitaGreen office building in Singapore, to take advantage of the ongoing demand for lucrative investment properties in Britain. “Asia is one of the most important growth markets for Select – more than 18 percent of our investors come from this region,” said Group Managing Director … Read more

Berlin Clamps Down On Short-Term Rental Websites

Those who are caught leasing out entire properties in Berlin on Airbnb and other similar websites, instead of single rooms, will face hefty fines, reported The Telegraph. Under the new law called Zweckentfremdungsverbot, which was passed by the authorities in 2014, but only came into effect on Saturday (30 April), violators face a fine of … Read more

New Rules For Transfer Of Flat Ownership

owners who want to relinquish their ownership in favour of another family member are no longer permitted to do so, except on certain grounds, reported The Straits Times. Under the new rules which came into force last month, transfer of ownership is only allowed for divorce, marriage, medical reasons, death of an owner, financial hardship … Read more

Dubai House Prices on Track for Another Double-Digit Drop

Property prices in Dubai could fall by as much as 10% this year as a strong dollar and falling oil prices continue to weigh on demand for homes in the popular tourist destination. Dubai’s real estate prices tumbled by around 13% on average in 2015 and Standard &  Poor’s, one of the big three credit rating … Read more