PropertyGuru announces excellent results for H1
PropertyGuru, Asia Pacific’s leading property portal group, announced record results for the first half of 2011, with site traffic rising 85 percent to more than 4 million visitors viewing 50 million pages. Likewise, revenue climbed 70 percent compared with H1 2010, while paying agent...
Continue Reading • 7 Jul 2011
CBRE achieves carbon neutrality
The CB Richard Ellis Group (CBRE), one of Newsweek’s 30 greenest large companies in America, has achieved carbon neutrality for its 2010 global operations, making it the first global commercial real estate services company to do so, according to the company’s latest press release.The...
Continue Reading • 7 Jul 2011
UK borrowers acquiring mortgages to improve homes
UK consumers are acquiring mortgages to continue investing in home improvements, despite challenging economic conditions, according to recent research conducted by Sainsbury's Finance.The research showed that homeowners are investing more in home improvements, with 21.0 percent of personal loans...
Continue Reading • 7 Jul 2011
Netizens applaud suspension of DBSS land sales
Local netizens applauded National Development Minister Khaw Boon Wan’s recent suspension of future land sales for the Design, Build and Sell Scheme (DBSS), according to a Yahoo! Singapore report.While some called for the scrapping of the DBSS and Executive Condominium (EC) programmes,...
Continue Reading • 6 Jul 2011
Struggling US homeowners to receive US$1b from HUD
Aimed at helping US home owners who defaulted on their mortgages due to job loss or unexpected medical bills, the Department of Housing and Urban Development (HUD) recently launched a US$1 billion Emergency Homeowners’ Loan Program (EHLP).The programme targets approximately 1.8 million home...
Continue Reading • 6 Jul 2011
Singapore-based property companies eye SE Asia success
In an effort to expand their portfolios, Singapore-based real estate companies are increasingly eyeing Southeast Asian markets such as Vietnam, Indonesia, Malaysia and the Philippines.While most developers consider expanding in China and India, they believe that population growth in Southeast...
Continue Reading • 5 Jul 2011
DBSS land sales suspended, under review
The government has suspended future land sales under the Design, Build and Sell Scheme (DBSS), pending its review, according to National Development Minister Khaw Boon Wan.“We are reviewing (the) DBSS scheme. Meanwhile, I have suspended future DBSS land sales,” said Khaw on his...
Continue Reading • 5 Jul 2011
Spotlight on S'pore property stocks
Singapore property stocks, particularly Sim Lian Group, may be in the spotlight after the government announced that it will halt future land sales under the Design, Build and Sell Scheme (DBSS), pending its review.DBSS flats came under fire recently after Sim Lian Group set an indicative price of...
Continue Reading • 5 Jul 2011
Aussie borrowers can expect smaller properties from developers
Australians who want to secure a mortgage in their initial step on the housing ladder may not get as much land, compared with previous generations.John Thurtell, General Manager of builder PJ Burns, said that most new homes today feature smaller backyards.He added that terraced block sizes could...
Continue Reading • 5 Jul 2011
UK mortgage defaults to rise, warn lenders
Mortgage lenders in the UK are expecting the number of borrowers defaulting on their home loans to increase in the coming months, according to a recent survey.A quarterly study of credit conditions released by the Bank of England showed that default rates on secured loans remained unchanged in...
Continue Reading • 4 Jul 2011
Koon Holdings acquires 51% share in GA Property
Dual-listed infrastructure construction and precast specialist Koon Holdings has announced the acquisition of a 51 percent share in GA Property Management, a privately held property investment holding firm, for S$3 million.Koon made the acquisition through a subscription agreement, as well as a...
Continue Reading • 4 Jul 2011
SLA, URA to conduct works on former KTM land
The Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA) have announced their plans for the railway land formerly occupied by Keretapi Tanah Melayu (KTM).The Singapore Land Authority (SLA) will start the removal of tracks and ancillary structures of KTM railway, as well as...
Continue Reading • 4 Jul 2011
PM Lee: KTM land deal is a win-win situation
The “amicable resolution” of the 20-year dispute over Malayan Railway (KTM) land in Singapore will enable both nations to move on to advance their various mutual interests, according to Prime Minister Lee Hsien Loong.PM Lee expressed his gratitude towards Malaysian Prime Minister...
Continue Reading • 1 Jul 2011
Australians advised to compare home loans
Australians with a good credit record and who have been consistent with repayments on their mortgages have been advised to compare home loans to see if they can get a better deal.Chris Acret, Managing Director of Smartline Personal Mortgage Advisers, said that lenders provide various products,...
Continue Reading • 1 Jul 2011
CEA issues new guidelines for real estate agents
The Council for Estate Agencies (CEA) has issued two new practice guidelines, one explaining the prescribed estate agency agreements for residential transactions and the other on ethical advertising within the industry, as part of its continued efforts to raise professionalism in the real estate...
Continue Reading • 30 Jun 2011
Millennium & Copthorne gets new CEO
Millennium & Copthorne Hotels Plc, a wholly-owned subsidiary of City Developments Ltd, has announced the appointment of Wong Hong Ren as its new Chief Executive Officer.Wong has been the group’s executive director and chief financial officer since April 2011 and was made non-executive...
Continue Reading • 30 Jun 2011
UK mortgage approvals rose 1% in May
The number of mortgage approvals in the UK increased by one percent to 45,940 in May, after sinking to a four-month low of 45,447 in April, revealed a Bank of England report.Some economists noted that mortgage approvals in May were still less than March’s 47,345. In addition, the figures...
Continue Reading • 30 Jun 2011
US mortgage fraud reports up 31%
The number of mortgage fraud reports in the US rose 31 percent in the first quarter, as many banks are taking another look at loan documents questioned by mortgage investors and insurers during the housing boom, according to a report.According to the US Treasury Department’s Financial...
Continue Reading • 29 Jun 2011
GIC appoints two acting chairmen
The Government of Singapore Investment Corp (GIC) has announced two interim appointments to fill the position vacated by GIC Executive Director Tony Tan, who resigned to run for president.However, GIC noted that it will not rush to fill the senior position, as the state investment firm looks for...
Continue Reading • 29 Jun 2011
Minister Khaw chats with property leaders
National Development Minister Khaw Boon Wan has been conducting one-on-one meetings with developers and shareholders to get their take on the real estate market since he took over the housing portfolio in May, according to sources.The meetings aim to give Mr. Khaw a clear understanding of the...
Continue Reading • 29 Jun 2011