Construction & Property Development

Asia - More SEA buyers eyeing prime London homes

Source: Propertyguru.com, 16 February 2012

London property agents are seeing increasing numbers of enquiries from Southeast Asia, with the number of buyers and investors from Indonesia increasing every week. London has been attracting more interest from Southeast Asian buyers for several years.

Charles Smith, Managing Director of UK’s Sotheby’s International Realty said, “We have seen an increase in Indonesian buyers in the past year and we expect to see this continue. Indonesia is the fourth most populist country in the world and London is a hugely welcoming city with an incredibly diverse population.” Another attraction for property buyers is the unrestricted nature of the market.

Indonesia - Indonesia's Jan cement sales rise 15.2%

Source: Reuters, 14 February 2012

Indonesia's domestic cement sales, an indicator of economic growth in Southeast Asia's top economy, rose 15.2 percent in January from a year earlier.

The country's sales volumes in January reached 4.06 million tonnes, slightly lower than 4.6 million tonnes a month earlier.    Infrastructure development and cement sales are likely to be spurred by the central bank last week cutting its benchmark rate to a record low 5.75 percent, and by the parliament in Decemberpassing a long-awaited land bill aimed at speeding up land acquisition.   

Australia - Aussie mortgage standards high

Source: Marketwatch, 22 February 2012

Mortgage lending standards in Australia are currently high, but vigilance must be maintained at all times, Luci Ellis, head of financial stability at the Reserve Bank of Australia said Thursday. "I am pleased to say that I do not currently see signs of widespread lax lending practices here in Australia," she told a business conference.

Australian property prices have nudged lower over recent years, but at no point has the housing market followed the example of the U.S. in the wake of the Lehman Brothers collapse in 2008. The RBA has long argued that strong banks and an aversion to the sub-prime style lending that took place in the U.S. kept the housing market in Australia strong by comparison. Still, many economists consider high property values and debt burdens are still a key weakness for the Australian economy.

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