Hong Kongers are well known as savvy shoppers. If anyone knows how to spot a bargain, they do. Perhaps that’s why their interest has been piqued of late in the large volume of distressed property still available in the US.

KUALA LUMPUR: UOA Real Estate Investment Trust (REIT) recorded an income of RM10.696 million for its fourth quarter (4Q) ending Dec 31, 2010, bringing its cumulative total for its financial year 2010 (FYE2010) to RM42.81 million.

SINGAPORE: Singapore on Thursday, Jan 13 introduced new measures to cool home prices that have continued to rise despite earlier efforts to put a lid on a red-hot property market.

Effective Friday, those who buy and sell residential properties within four years will have to pay a stamp duty, up from the current requirement of three years.

KOTA BHARU: The Tourism Ministry is to act immediately against fraudulent homestay programmes before the scam undermines the tourism industry, Minister Datuk Seri Dr Ng Yen Yen said on Friday, Jan 14.

She said she had instructed the enforcement division of the ministry to identify these fake programmes and act against them.

KUALA LUMPUR: The historic agreement between Malaysia and Singapore signed on May 24, 2010 to settle the long-standing railway land issue between both countries is expected to open up property development opportunities in Singapore and Iskandar Malaysia in Johor, according to DTZ Research Insight released on Wednesday, Jan 12.

KUALA LUMPUR: The Malaysian property market outlook for the year looks positive and stable amidst a modest recovery in the country's economy.

KUALA LUMPUR: The Asia Pacific Real Estate Association (APREA) Institute aims to enrol 25 students under its first Certificate of Real Estate Investment Finance (CREIF) programme in Malaysia, said APREA CEO Peter Mitchell.

KUALA LUMPUR: Sime Darby Property Bhd (SDP), the property division of Sime Darby Bhd, is targeting 15 property launches before the group's financial year ends on June 30.

The launches include Indigo, comprising 26 units of zero-lot bungalows in USJ Heights in Subang this month priced from RM1.8 million, SDP head of market development Henri Young told reporters on Thursday, Jan 13.

KUALA LUMPUR: Bukit Kiara Properties Sdn Bhd (BKP) has rewarded 24 contractors a total of RM366,500 in bonuses for helping the developer achieve a high CONQUAS (Construction Quality Assessment) score for the Vibe tower at its Verve Suites project in Mont'Kiara here.

KUALA LUMPUR: Daya Materials Bhd's wholly-owned subsidiary Daya Urusharta Sdn Bhd has proposed to acquire five units of office suites of stratified mixed commercial development known as Solaris Dutamas for RM2.76 million.

In a filing to Bursa Malaysia, the company said the proposed acquisition is located in Dutamas, Kuala Lumpur, with a total net area of approximately 466 sq m.