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.
VANCOUVER — Large Wall Street investors who made billions when the U.S. housing market collapsed in 2008 are now betting real estate values in Vancouver and other Canadian cities will crash, financial insiders say.
The hedge fund investors, known as short sellers, are betting against what they believe is a housing bubble in Vancouver, Toronto, Calgary and other Canadian cities. They believe Canadians hold too much mortgage debt, and that Canadian banks, mortgage insurers and “subprime” private lenders will lose money on unpaid loans when property prices fall.
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.