Property of the month
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Singapore sustained a comeback in home sales in December, boosting an annual tally that was already the highest since 2013.Developers sold 431 units, up from 367 a year earlier, according to Urban Redevelopment Authority data released Monday.
Myanmar has notoriously low residential property taxes rates, accounting for just 7.5% of GDP, compared to the 13-14% its neighbours, Laos and Cambodia pay.In 2016, this amounted to just US$1.86 per capita in Yangon according to research done by the Renaissance Institute.
Hong Kong’s richest man signaled he sees no end in sight for the demand in property that’s been driving up prices in the world’s most expensive real estate market."Demand remains very strong," CK Hutchison Holdings Ltd.’s billionaire chairman Li Ka-shing said to reporters on Thursday before the start of the annual dinner for his group of companies.
Singapore developers may extend their share rally into 2018 on a reviving home market, according to money managers and analysts, who say the central bank’s warning on a potential oversupply may not play out for years.