HONG KONG: New mortgage loans approved in Hong Kong in February fell 10.1% in value terms from January, but were up 132.8% from the same period a year earlier, data from the Hong Kong Monetary Authority (HKMA) showed.

New loans approved in February totalled HK$26.6 billion (RM11.31 billion), down from HK$29.6 billion in the previous month, the HKMA said on Thursday (March 25).

KUALA LUMPUR: New York has dethroned London to become the world’s most influential city, while Asian cities continue to gain ground.

The “Big Apple” moved into first place of the latest Knight Frank World Cities Survey, pushing London off the top-spot it held last year.

KAJANG: Metro Kajang Holdings Bhd plans to launch its 270-acre Kajang 2 township in the first quarter of its financial year ended Sept 30, 2011.

Group managing director, Datuk Eddy Chen said the project with a gross development value (GDV) of RM1.4 billion is located between Bandar Baru Bangi and Kajang town in Selangor.

PHNOM PENH: Cambodia's parliament is to debate a law next month that would allow foreigners to own property directly, one of the aims being to attract more investors to the Southeast Asian country.

Until now, foreigners wanting to buy property have had to do it through a Cambodian representative.

KUALA LUMPUR: Real estate agency Reapfield Properties Sdn Bhd, which has a work force of 650 and 13 offices, is marking its 25th anniversary in the industry.

It will be celebrating its silver jubilee with the theme of “Celebrating 25 years-Building on Excellence” at One World hotel with 600 guests on March 26.

MEXICO CITY: Former US Federal Reserve Chairman Alan Greenspan said on Wednesday (March 24) US house prices appeared to have bottomed out but were still fragile and that the country would not be out of crisis until prices stabilised.

KUALA LUMPUR: HwangDBS Vickers Research (HDBSVR) has a Target Price of RM1.30 for Magna Prima, which is a niche property developer with RM1 billion worth of launches in Klang Valley over next two years.

The research house said on Wednesday, March 24 it sees strong earnings growth for Magna Prima, but cash flow management and cost control will be crucial.

SYDNEY: Australian mortgage rates are still 50 basis points below the average of the last 15 years, a top central banker said on Thursday (March 25), after warning speculators against betting on fast rising house prices.

LONDON: The British government scrapped tax for around 90% of first-time homebuyers on Wednesday (March 24), boosting housebuilders' shares as analysts predicted further house price gains.

For the next two years, first-time homebuyers will be able to buy properties worth up to £250,000 (RM1.25 million) without paying stamp duty.

WASHINGTON: Sales of newly built US homes fell for a fourth straight month to a record low in February, but another rise in new orders for durable goods offered assurance the economic recovery was on course.

The mixed data on Wednesday (March 24) underscored that while growth continues, laggards such as housing and the labor market are standing in the way of a full recovery.