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[2010-02-03] New Zealand property market 'sluggish'
New Zealand property market 'sluggish'
(Listed Feb 03, 2010)
The NZ property market continues to be in a "dormant" phase, according to a monthly report from realestate.co.nz. Fewer new listings are coming on to the market, and sales are subdued, the report says. While the sales figures show year-on-year growth, they are still lagging behind historical averages. Total sales for 2009 were just 69,000 - up from the 2008 level of 56,000 - but far from the mid-2000s levels of around 100,000. Janua... |
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[2010-02-03] Property in Australia becoming less affordable as prices rise and supply falls
Property in Australia becoming less affordable as prices rise and supply falls
(Listed Feb 03, 2010)
Australian real estate market is regarded as having weathered the world economic downturn well but now concern is growing that rising property prices means that an increasing number of owners are struggling to meet their mortgage payments. Interest rate increases, lack of supply and high land prices are also adding to the problem. About 16% of property owners were struggling to pay loans in Nov... |
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[2010-02-03] Prices of construction materials likely to increase slightly in 2010
Prices of construction materials likely to increase slightly in 2010
(Listed Feb 03, 2010)
The national economy will gradually recover in 2010, resulting in a slight increase in the prices of construction materials such as steel and cement. It is predicted that construction materials will experience minor fluctuations in prices due to soaring input costs on the world market.Fierce competition between locally-made and imported steel. However, the price of locally-made steel will not increase sh... |
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[2010-02-03] Low prime rate adds to bank liquidity woes
Low prime rate adds to bank liquidity woes
(Listed Feb 03, 2010)
The central bank’s decision not to increase the prime rate has posed a challenge to commercial banks already struggling to attract capital. Many banks were actively seeking capital on the interbank market to meet business demands, driving up interest rates on short-term interbank loans to as high as 14-15% in recent days. The State Bank of Viet Nam has announced its intention to keep the prime rate at 8 per cent at least th... |
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[2010-02-03] Overseas Vietnamese remain wary of home purchases in their own names
Overseas Vietnamese remain wary of home purchases in their own names
(Listed Feb 03, 2010)
Hundreds of thousands of Viet Kieu (overseas Vietnamese) return to Vietnam in January or February each year to celebrate Tet in their former homeland. Typically, that’s also a time for them to find and purchase houses in Vietnam. This year, however, reports Saigon tiep thi, it seems that the number of Viet Kieu who plan to buy houses here is rather modest. Officially, only ten Viet Kieu bought hous... |
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[2010-02-02] Offices lie empty as oversupply hits CBD
Offices lie empty as oversupply hits CBD
(Listed Feb 02, 2010)
Nearly a fifth of Auckland's office stock could be empty in the next three years and already 13 per cent of the CBD floorspace is empty. A report by Goldman Sachs JBWere analysts Buffy Gill and Marcus Curley, based on figures from Jones Lang LaSalle (JLL), shows a grim outlook. "The outlook for offices looks quite negative in Auckland and Wellington, due primarily to expectations of oversupply. Auckland vacancy [rates] could reach ... |
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[2010-02-02] Steel prices won’t spike this year: VSA
Steel prices won’t spike this year: VSA
(Listed Feb 02, 2010)
The Vietnam Steel Association (VSA) on February 1 said the steel market would not see prices shoot up suddenly this year as many newly built steel plants were expected to ensure supply. Last month, steel prices at domestic plants rose by VND90,000-120,000 a ton over December last year, sending wholesale prices to VND11.7-11.74 million a ton in the north and to VND11.52-12.12 million a ton in the south. Competition among prod... |
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[2010-02-02] Overseas Vietnamese unhappy with implementation of nationality, housing laws
Overseas Vietnamese unhappy with implementation of nationality, housing laws
(Listed Feb 02, 2010)
Hundreds of overseas Vietnamese have expressed dissatisfaction and concern over the way the newly amended Nationality and Housing laws are being implemented, saying there is uniformity that they can rely on. Their concerns were expressed at a workshop held on Sunday, January 31, by the Ho Chi Minh City Overseas Vietnamese Liaison Association. Association chairwoman Luong Bach Van said that sin... |
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[2010-02-02] Thu Thiem Bridge to foster socio-economic expansion
Thu Thiem Bridge to foster socio-economic expansion
(Listed Feb 02, 2010)
The Thu Thiem Bridge over Sai Gon River in Ho Chi Minh City opened fully to traffic on Sunday, January 31, after the second phase of its construction was completed. The bridge, built at a cost of VND1.45 trillion (US$78.5 million), will be a significant contributor to the city’s expansion to the east, officials said. Work on the bridge started in April 2005 and its first phase was completed two years ago. The 1.25... |
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[2010-02-01] New real estate law in Dubai to tackle failing developers and cancelled contracts
New real estate law in Dubai to tackle failing developers and cancelled contracts
(Listed Feb 01, 2010)
More new real estate laws being considered for Dubai which will give investors grounds to cancel their contracts if they fall victim to failing developers and aimed at restoring confidence in the emirate’s property market. The real estate investor protection law, which is being looked at by the Land Department of Dubai, will detail grounds upon which a property buyer may demand cance... |
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[2010-02-01] New bridge open to traffic in HCM City
New bridge open to traffic in HCM City
(Listed Feb 01, 2010)
Thu Thiem bridge spanning the Saigon River in Ho Chi Minh City was open to traffic on January 31, helping reduce load for Saigon bridge and shorten travel time from Thu Duc district to the downtown. The 1.25km bridge has six lanes for vehicles, linking district 2 with Binh Thanh district. Work on the bridge, built at more than VND1.47 trillion, started in April 2005, and phase I of the project was completed in January 2008. As part... |
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[2010-02-01] Construction of Nam Dinh – Phu Ly road starts
Construction of Nam Dinh – Phu Ly road starts
(Listed Feb 01, 2010)
The construction of the new Nam Dinh – Phu Ly road started on January 29 in Nam Dinh city with the Tasco Joint Stock Company as its investor. The road, 25 kilometres in length, has a total investment capital of nearly VND 3 trillion.According to the investor’s commitment, the road will have been put into operation by 2014, making a contribution to avoiding traffic jams and minimising traffic accidents and cr... |
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[2010-02-01] Bank keeps real estate on ice
Bank keeps real estate on ice
(Listed Feb 01, 2010)
The real estate market will remain stagnant if the State Bank maintains its tight monetary policy through the first half of this year, experts warn. However, this lull provides a good opportunity for people with real housing needs rather than speculators to buy properties, according to experts. Nguyen Son Trung, director of HCM City-based Dat Nam Do Real Estate Company, says real estate transactions are only taking place in capital-mobilisi... |
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[2010-02-01] Israel housing price rises not a bubble
Israel housing price rises not a bubble
(Listed Feb 01, 2010)
Bank of Israel Governor Stanley Fischer said on Sunday that rising housing prices did not constitute a bubble. Housing prices rose 5.6 percent in 2009, contributing to an inflation rate of 3.9 percent last year. "We have a problem of real estate market and people call it a bubble. But this is not a bubble," Fischer said at the annual Herziliya conference. Fueled by strong growth in the second half of the year, Israel's economy grew ... |
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[2010-01-29] US cities so far untouched by foreclosure crisis now seeing increase
US cities so far untouched by foreclosure crisis now seeing increase
(Listed Fen 29, 2010)
The usual states in the US continue to lead foreclosures but in a worrying move other cities so far sheltered from distressed property are creeping up the list, the latest data shows. The usual states in the US continue to lead foreclosures but in a worrying move other cities so far sheltered from distressed property are creeping up the list, the latest data shows. California, Florida, Nevada and Arizona... |
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