2015 is predicted to be the year when many emerging markets in Asia such open up their property ownership to include foreigners. As it stands in many countries, non-citizens are prohibited from buying properties. For example, in the Philippines, the country’s constitution bans non-Filipinos from owning land and in Sri Lanka non-citizens pay more tax when they own any property. However, there are signs that this may be about to change. 2015 will see countries in the Association of Southeast Asian Nations (ASEAN) merge to form a single market.
SYDNEY/LONDON: Realtors in Australia, Britain and Canada are bracing for a surge of new interest in their already hot property markets, with early signs that wealthy Chinese investors are seeking a safe haven from the turmoil in Shanghai's equity markets. Sydney realtor Michael Pallier said in the past week alone he has sold two new apartments and shown a A$13.8 million ($10.3 million) house in the harbourside city to Chinese buyers looking for an alternative to stocks.
When RealtyTrac released its latest home sales report, "which shows single family home and condo sales through August were on pace for an eight-year high nationwide and in 110 out of 204" it was something else that caught our eye.
Canadians are invading Manhattan.
The country’s largest real estate investors have bought a record US$3.85 billion in property this year in the New York city borough and spent more than any other foreign country in the last decade, according to data from Real Capital Analytics Inc.
Apple didn't break any big news at its shareholder meeting yesterday, but a couple of statements by the company's CEO, Tim Cook, stood out. The first was Cook's comment that Apple's board and management "don't like" the fact that Apple's stock has crashed.