LONDON: The UK government’s move to increase stamp duty land tax (SDLT) rates for residential properties over £2 million (RM9.8 million) may boost the sales of cheaper luxury homes in the countryside, said real estate consultant Knight Frank LLP.The new SDLT rate which came into effect yesterday is 7% for individuals purchasing residential properties over £2 million.

KUALA LUMPUR (Mar 22): The implementation of Bank Negara Malaysia's (BNM) new Guidelines on Responsible Financing, which came into effect January this year, was introduced largely to curb speculative buying in the property market and limit the increase in house prices, said governor Tan Sri Dr Zeti Akhtar Aziz.

SHAH ALAM (Mar 22): S P Setia Bhd has achieved a record-breaking quarter, with sales at RM933 million for its first quarter ending Jan 31. This represents the group's highest ever sales in a single quarter and is a 27% increase from its 1Q FY2011 sales.

KUALA LUMPUR (Mar 22): S P Setia Bhd will soon launch Tower Two of its Fulton Lane development in the heart of Melbourne city business district.

In a statement today, the developer said Tower One that was premiered first in Kuala Lumpur in June last year saw strong demand from local buyers and had recorded steady sales with 80 percent of 291 apartment units taken up.

KUALA LUMPUR (Mar 22): Mah Sing Group Bhd received three wins at the Asia Pacific Property Awards for both its residential and commercial projects: High Rise Architecture for Malaysia for its Icon Residence, Mont'Kiara; Office Development for Malaysia for Icon City, Petaling Jaya; and Commercial Redevelopment for Malaysia for Icon City, Petaling Jaya.

KUALA LUMPUR (Mar 22): IJM Land Bhd has acquired 50% equity interest in Nasa Land Sdn Bhd, a subsidiary of Aspirasi Ratna Sdn Bhd for RM51 million, in order to expand its landbank.

KUALA LUMPUR (Mar 22): The uncertainty of when the 13th General Election will be held has resulted in investors sitting out while the "slow progress" of the Economic Transformation Programme (ETP) has been equally frustrating, said Levitt Capital Management LLC founder Robert Levitt.

KUALA LUMPUR (Mar 22): SENI Mont'Kiara has recently won the Asia Pacific Property Awards 2012 in the Residential High Rise Development category.

KUALA LUMPUR (Mar 21): Malaysia Building Society Bhd (MBSB) has signed an agreement for term and bridging financing facilities of up to RM215 million with NCT United Development Sdn Bhd to revive the largest abandoned housing project in the country.

KUALA LUMPUR (Mar 21): Scientex Bhd, a leading industrial packaging manufacturer and property developer, reported that its property division contributed 29.4%, or RM125.8 million, to group revenue in the first half of its financial year ended Jan 31, 2012 (1H2012).