KUALA LUMPUR: Kumpulan Jetson Bhd, through its 51%-owned subsidiary Jetson Development Sdn Bhd, has acquired three tracts in Penang from Malaysia Building Society Bhd for RM14 million, according to its statement on Bursa on Jan 18.

The three separate tracts — measuring 21,671 sq ft, 23,277 sq ft and 3,346 sq ft — are all situated in George Town.

KUALA LUMPUR: Values and rents of properties within developments in the Klang Valley close to the proposed mass rapid transit (MRT) stations as properties adjacent to the stations are poised to increase by as much as 25%, said Ho Chin Soon Research Sdn Bhd director Ho Chin Soon.

KUALA LUMPUR: The outlook of the industrial property market in the near-term is "promising", underpinned by the Economic Transformation Programme (ETP), the economic recovery and the shortage of industrial land in Kuala Lumpur, Selangor and Penang, said VPC Alliance (Malaysia) Sdn Bhd managing director James Wong.

KUALA LUMPUR: The Kuala Lumpur office market this year is expected to remain soft as occupancy and rents come under pressure.

Knight Frank executive director Sarkunan Subramaniam said rentals will trend downwards as supply from the completion of new and refurbished office buildings are expected to overshadow tenants' demand.

KUALA LUMPUR: The value of property transactions in Malaysia for the year 2011 is expected to exceed RM100 billion on the back of the Malaysian economy's recovery which has re-invigorated the overall property market.

KUALA LUMPUR: High-end condominiums and apartments in Kuala Lumpur are expected to remain generally flat this year but may see modest growth in the long term, said Henry Butcher Marketing Sdn Bhd chief operating officer Tang Chee Meng.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis-REIT) aims to enhance and reposition its assets to increase performance, said Axis REIT Managers Bhd chief executive officer Stewardt Labrooy.

Axis REIT Managers is the manager of Axis-REIT.

KUALA LUMPUR: AmResearch Sdn Bhd has maintained the overweight stance on the construction sector as there is greater illumination on new contract visibility.

The Klang Valley Mass Rapid Transit (MRT) project is one of the anchor projects under the government's Economic Transformation Program (ETP) and 10th Malaysia Plan, that is likely to be fast-tracked and with more to come.

WELLINGTON: New Zealand house prices and sales fell in December, offering another sign of a slow economic recovery and reaffirming expectations that rates will be on hold for months to come.

The Real Estate Institute of NZ's (REINZ) house price index fell 0.6% on the previous month, and was 1.6% lower than a year earlier.

LONDON: The European office sector stood out in an environment of broadly flat rents in 4Q 2010, recording the largest yield reduction and highest year-on-year (y-o-y) rate of rental growth of the three main sectors, according to CB Richard Ellis (CBRE) latest Europe, the Middle East and Africa (EMEA) Rents and Yields Indices.