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House prices rise at slower rate in OctoberFriday, October 30, 2009Nationwide says that seasonally adjusted average house prices rose at a slightly slower pace of 0.4% in October, compared with an increase of 0.9% in September. However, annual house price inflation turned positive for first time since March 2008, with an increase of 2.0% for the year to October 2009. The average UK house price is now £162,038 - up from £161,816 in September. Commentin ... more |
CDA launches operation against encroachmentsFriday, October 30, 2009Islamabad: The Enforcement Directorate of Capital Development Authority (CDA) Thursday launched a grand operation against encroachments and illegal constructions. During the operation, the authority demolished two houses, two shops, 29 rooms and eight boundary walls in different sectors of the federal capital. Besides, it challenged 10 persons for indulging illegal construction under the bu ... more |
Gakhar Plaza to be re-built soonFriday, October 30, 2009Rawalpindi: After rumours that the owner of Gakhar Plaza plans to allot the new plaza shops to erstwhile shopkeepers at the sixth floor upwards, a wave of unrest and anger has swept the affected traders of ill-fated Gakhar Plaza, which was totally gutted on December 20 last year. They were highly infuriated with the rumours that the owner plans to deprive the shopkeepers of their original p ... more |
CDA starts I-11, I-12 UpliftThursday, October 29, 2009The Capital Development Authority (CDA) has initiated development of sector I-11, I-12 even before hiring of contractor firm to provide accommodation facility to more than 15,000 allottees yearning to have their own shelter in the federal capital. “We have initiated the development on departmental basis. We have moved the machinery of our Machinery Pool Organization so that earthwork may be ... more |
DHA Lahore commercial building owners warn of sit-inThursday, October 29, 2009Lahore: THE DHA Commercial Building Owners Association has threatened to hold a sit-in to protest against the increase in commercialization fee and property tax by DHA and Cantonment Board authorities. Office bearers of the association made this announcement in a press conference held at the Lahore Press Club on Friday. Raja Maroof, the general secretary of the association, said the bo ... more |
Ireland just half way through its property slump with prices expected to tumble 45%Wednesday, October 28, 2009Property prices in Ireland could fall as much as 45% from the peak of the market in late 2006 due the economic downturn and increased costs of funding the banks, it is claimed. Prices have already fallen 24%, according to Fitch Ratings and the average house is currently worth 7.5 times the average income, a ratio that is expected to fall to nearer 5.5 times the average individual income. ... more |
Extra-diametrical water pipelines for posh areasWednesday, October 28, 2009Karachi: Amid various reasons for water scarcity in certain residential sectors of the city, distribution of water connections in violation to approved diameter of pipelines in posh areas comes off as one of the major causes. A well-placed officer of engineer rank in the Karachi Water and Sewerage Board (KWSB) said that a few KWSB officers of higher rank have misused their position as they ... more |
Official Cityscape figures confirm lack of confidence in Dubai real estate marketWednesday, October 21, 2009The number of property industry visitors to the Cityscape Dubai expo earlier this month which is the biggest in the Gulf region was down by 50%, it has been confirmed. Before its opening the organisers said they expected a 30% fall in numbers but the figures reveal a much worse turnout with just 38,000 people attending the four day show. It is a bitter blow to the Dubai real estate sec ... more |
Small dams project to bring prosperity for Gadap residentsFriday, October 16, 2009Karachi: The approval of the project of building 16 small dams on rain waterways in Gadap Town by the Sindh government has brought hope for the residents. The project sites have been identified and the authorities hope the work will start soon, The News has learned. Gadap Town Municipal Officer (TMO), Gul Hassan Kalmati told The News that the dams construction project has been approved by S ... more |
HK govt voices worries about property price bubbleThursday, October 15, 2009The Hong Kong government is to closely monitor the residential property market which is fears is in danger from a price bubble. It may even release more land to deflate prices, according to Donald Tsang, the city’s chief executive. His warning comes just after Henderson Land Development revealed that it sold a duplex apartment for HK$439 million, a record price. ‘The relatively sm ... more |
CDA chief wants parks in all parts of capitalThursday, October 15, 2009Islamabad: Back in early 1970s, the country’s most prolific satirist, Sher Mohammad Khan, popularly known as Ibne Insha, wrote in one of his columns published in ‘Jang’ that the Blue Area (later renamed as Jinnah Avenue) is a dividing line between the rich and poor of this socially and economically segregated city. Today’s Islamabad tells us as to how prophetic were his assertions of the time. ... more |
Illegal building demolished in New Muslim Town, 5 sealed at other placesFriday, October 09, 2009Lahore: THE staff of the Town Planning Wing and Commercialization Directorate, LDA, continued its operation against violations of building bye-laws here Thursday and demolished a building besides sealing seven others for carrying out commercial activities on residential plots. The LDA staff demolished a show room that had been illegally constructed after altering the original building plan ... more |
768 housing units plannedFriday, October 09, 2009Islamabad: About 768 housing units for low paid federal government employees in BPS-1 to BPS-16 will be ready by the end of next year. Director General (C&PM) Pakistan Housing Authority, Ministry of Housing and Works, Athar Nawaz Malik told this agency here on Thursday. Giving details, he said basic infrastructure to a total of 368 D-type and 400 E-type apartments had been laid in Sect ... more |
Iraq hailed as new emerging market for property investorsThursday, October 08, 2009Iraq is the new emerging real estate investment market of the Middle East as security concerns dwindle and the government commits itself to major property developments, it is claimed. Groundbreaking residential projects are being announced on a monthly basis and the mayor of Baghdad has revealed a five year plan to build 300,000 housing units in the city. Sabir Al-Issawi said that the ... more |
New disclosure law in NZ on discounts needs clarification according to real estate agentsThursday, October 08, 2009A new law that comes into effect next month in New Zealand will prevent real estate agents from siphoning off discounts related to selling a client’s property. Agencies throughout the country will be obliged to comply with the Real Estate Agents Act 2008 from November 17 which means revealing to vendors the various discounts, rebates and commissions they receive from suppliers such as print ... more |
Birmingham event a resounding successTuesday, October 06, 2009The second A Place in the Sun Live event of the year has taken place at Birmingham’s NEC and once again delivered a strong consumer audience. The three day event, from 2nd-4th October, saw one of the show’s highest ever ratio of visitors to exhibitors and confirmed the cautious optimism being felt across the industry. Alisdair MacDonald of exhibitor Polar GM said: 'This has been the mo ... more |
Model Town residents flay unauthorized commercial activityTuesday, October 06, 2009Lahore: The residents of Model Town Society (MTS) have criticized the ongoing commercialization and unauthorized construction in the society with the connivance of MTS staff. They expressed these views in a meeting of MTS Residents Association held here on Monday. The agenda of meeting was to discuss illegal commercialization in the residential areas of the society, unauthorized and illegal ... more |
British house prices rise in SeptemberFriday, October 02, 2009LONDON - British house prices climbed 0.9 percent in September from August, the fifth monthly increase in a row, reaching levels last seen one year ago, home-loans provider Nationwide said on Friday. However, the group warned that house prices may not continue at the current rate amid soaring unemployment and tight lending conditions. The British property market has been set sharply ba ... more |
