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Buyers size up lifelike Hermitage show flat

HONG KONG: There was not a glass wall to be seen, the doors were all in place and visitors were even given a tape measure on arrival.

Potential buyers at the first major residential project regulated by tighter measures on sales tactics were greeted yesterday with a layout and finish identical to a real 1,003 sq ft flat.

Probe into failed luxury flat sales in Mid-Levels

HONG KONG: Regulatory and law-enforcement agencies are looking into the cancelled sales of flats in a luxury Mid-Levels project that the developer said in October last year had fetched prices of up to a world-record HK$88,000 (RM36,804) a square foot.

Property retains appeal for China's new rich

BEIJING: Make small talk with someone on the mainland and eventually the topic will get around to property.

"It may be a good time to buy property in the next few months," says Miffy Li, a 27-year-old yoga teacher, sipping her tea in a coffee shop at a five-star Beijing hotel.

HSBC sees booming Asia REIT market

HONG KONG: HSBC expects the number of real estate investment trusts (REITs) in Asia to surge over the next three to four years due to demand for more risk-averse property investments, a senior executive said.Asia is seeing increased activity in the REIT IPO market this year, with the successful listing of Cache Logistics Trust in Singapore, while Sunway City plans to list its REIT in Malaysia i

SP Setia 2Q net profit up 26%

KUALA LUMPUR: SP Setia Bhd’s net profit for its second quarter ended April 30, 2010 (2QFY10) increased 26.39% to RM51.21 million from RM40.52 million the year earlier on the contribution from sales of residential and commercial properties in the Klang Valley and Johor Bahru.

Its revenue, meanwhile is up 16.2% to RM409 million, from RM352.2 million the previous year.