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China: Provisions on Real Estate Prices

(Apr. 20, 2011) On March 16, 2011, China's National Development and Reform Commission promulgated “Provisions on Clear Price Indication in Sales of Commercial Houses”; they will become effective on May 1 of this year. The stated goal of these provisions is to regulate prices in sales of both new and older houses while maintaining an […]

China: Real Estate Administration Notice Published

(Oct. 29, 2010) On September 21, 2010, China's Ministry of Land and Resources and Ministry of Housing and Urban-Rural Development jointly issued the Notice on “Further Intensifying Administration and Regulation over Utilization and Development of Land for Residential Purposes.” The aim of this notice is to implement provisions of a notice issued previously. (Rajesh, Two […]

Brazil: Land Acquisition by Foreigners Limited

(Aug. 26, 2010) On August 23, 2010, Brazilian President Luiz Inácio Lula da Silva signed an order, binding on the entire public administration, which limits the amount of land that may be acquired by foreigners and Brazil-based companies controlled by foreigners. The order was based on a legal opinion issued by CGU (Controladoria Gerald da […]

Taiwan: New Policy of Government Repurchase of Tendered State-Owned Land

(May 24, 2010) Taiwan's National Property Administration (NPA), under the Ministry of Finance, has issued new rules on the repurchase of formerly state-owned, non-public use land in Taipei and Taipei County, applicable as of May 13, 2010, whereby the government may repurchase such land that was sold through public tender but remained idle for over […]

Indonesia: Older Foreigners to Be Permitted to Own Property

(May 6, 2010) In a move designed to make Indonesia attractive to foreign retirees, the government is considering revising regulations to permit foreigners over the age of 55 to own property. (Govt to Allow Old Foreigners to Own Property, JAKARTA POST, May 4, 2010, available at http://www.thejakartapost.com/news/2010/05/04/govt-allow-old-foreigners-own-property.html.) Previously, under the Agrarian Law (Law No. 5, […]

China: Notice on Mortgage Loans Aims to Curb Housing Price Speculation

(Apr. 26, 2010) China's State Council (Cabinet) issued a notice on April 17, 2010, authorizing banks to refuse mortgage loans to purchasers of third homes and to those unable to give proof of either residence in a city or of payment of one year's taxes there. According to the BNA DAILY REPORT FOR EXECUTIVES, the […]

United States: New York Court Upholds Constitutionality of Condemnation of Private Property for Removal of Blight

(Dec. 14, 2009) The New York Court of Appeals, New York State's highest court, has held that a state condemnation authority can use its eminent domain power to acquire property for a private development project to remove urban blight. The case involves a private developer's plan to develop 22 acres in Brooklyn for a basketball […]

United Nations: Panel Pays Reparations for Kuwait Invasion

(July 31, 2009) On July 29, 2009, the United Nations Compensation Commission (UNCC) paid a total of $430 million to settle the damage claims arising from the 1990 invasion of Kuwait by Iraq. Together with earlier payments, this action brings the total amount paid by the UNCC to close to $28 billion. The UNCC, based […]

Lithuania: Return of Jewish Property Confiscated by the Soviets

(July 8, 2009) On June 25, 2009, the Government of Lithuania submitted to the Parliament its draft Law on Compensation to the Jewish Community for Non-Return of Property Confiscated During the Soviet Period. The Law provides for the allocation of an amount equal to US$50 million for this purpose. The bill does not address the […]

Brazil: New Law Grants Public Land in the Amazon to Adverse Possessors

(July 7, 2009) On June 25, 2009, Brazilian President Luiz Inácio Lula da Silva signed Law No. 11,952, which regulates agrarian occupations in lands belonging to the government that are situated in the Amazon region. Law No. 11,952 was originally designed to benefit small farmers, but a few modifications during the legislative process changed the […]