Foreigners will be banned from owning land in South Africa under new proposals outlined by President Jacob Zuma. Locals will have limits set on the size of their farms under the proposals.
There are at least 790,000 real estate millionaires in Australia and more are created daily as the number of million-dollar-plus properties continues to soar. Sydney has the lion’s share of the nation’s $1m-plus properties, taking 57 per cent, followed by Melbourne’s 28 per cent, Perth with 8 per cent, Brisbane with 5 per cent and Adelaide on 2 per cent.
News Corp's REA Group, owner of realestate.com.au, has criticised Fairfax Media, owner of Domain, over the launch of a new online real estate business owned by Domain and real estate agents.
One of Australia’s largest hedge funds, Caledonia Funds, is betting big on the future of online real estate in the U.S., to the tune of more than $1 billion. Caledonia Funds disclosed that it currently owns nearly 20% of Zillow and more than 27% of Trulia.
A Sydney-based investment management company is planning to set up the first privately-owned Chinese bank in Australia, catering to the rising numbers of wealthy Chinese people living and investing in the country, a senior executive said on Friday.
ANZ today announced that Mark Whelan will succeed Philip Chronican as CEO Australia reporting to Chief Executive Officer Mike Smith with Mr Chronican intending to pursue a non-executive career following a distinguished 32-year career in banking.
A Knight Frank study shows Chinese investors have been moving from core office and residential developments into leisure and industrial assets when they seek opportunities in overseas realty markets. In 2014, Australia recorded the strongest growth in inbound real estate investment from China, with a rise of more than 60 percent year-on-year.
Mirvac Group has posted a 2014-15 interim operating profit of $A231.2m, which is 15.5 per cent higher than previously. CEO Susan Lloyd-Hurwitz says the group benefited from the strong residential property market in Sydney.
