S-REITs look stable for 2012
Global credit rating agency Moody’s Investors Service has maintained its stable forecast on Singapore Real Estate Investment Trusts (S-REITs) over the next 12 to 18 months, on expectations of loose credit conditions and increasing rents.Alvin Tan, an analyst at Moody's, said in a report...
Continue Reading • 21 Jun 2011
Woodleigh MRT station opens after 8 years
Eight years after its development, Woodleigh MRT station finally opened yesterday.However, the first day of operations at Woodleigh caused confusion among several commuters.Passengers were surprised by the new stop between the Serangoon and Potong Pasir stations, alighting at Woodleigh when they...
Continue Reading • 21 Jun 2011
UK lenders cut fixed-rate mortgages
Fixed-rate mortgages have been slashed by some leading UK home loan providers.Santander reduced the rate of its two- and three-year fixed mortgages by up to 0.3 percentage points, while Northern Rock improved its fixed rates by up to 0.5 percentage points.Home loan providers pushed shorter-term...
Continue Reading • 20 Jun 2011
DBSS is not HDB, says Khaw
National Development Minister Khaw Boon Wan tried to differentiate Design, Build and Sell Scheme (DBSS) developments from HDB flats, following the stir caused by the launch of a DBSS project, which is marketing a five-room flat for a whopping S$880,000.“While HDB flats are designed and...
Continue Reading • 20 Jun 2011
Jones Lang LaSalle appoints new International Director for Singapore
Property consultancy firm Jones Lang LaSalle (JLL) has appointed Mike Batchelor as its new International Director for Singapore.Together with 23 other colleagues, Batchelor will join a select group of International Directors known for providing exceptional results for clients and driving the...
Continue Reading • 17 Jun 2011
Maplewoods residents sign petition against MRT construction work
Residents of Maplewoods Condominium in Bukit Timah have signed a petition to Prime Minister Lee Hsien Loong regarding the inconveniences caused by the construction of the new Downtown Line.The petition, which calls for the relocation of the King Albert Park station’s launch shaft, was...
Continue Reading • 17 Jun 2011
HK mortgage transactions may drop significantly
The transaction volume of Hong Kong mortgages may drop 40 percent over the next two years, as liquidity tightens and banks are required to set aside additional reserves, according to Barclays Capital.In a Bloomberg report, Tom Quarmby, Head of Regional Banking Research at Barclays, noted that the...
Continue Reading • 17 Jun 2011
LTA plans new MRT station near Republic Polytechnic
The Land Transport Authority (LTA) has revealed its plans to develop an MRT station near Republic Polytechnic in Woodlands to join the upcoming Thomson Line with a proposed rapid transit train link to Johor Baru.The LTA said that the station will be the northern-most on the Thomson Line.The 30 km...
Continue Reading • 17 Jun 2011
Khaw reveals profiles of May BTO applicants
National Development Minister Khaw Boon Wan revealed in his latest blog entry the profiles of 14,000 applicants for the May 2011 launch of Built-to-Order (BTO) flats.Entitled “Know Our Customers”, his latest blog entry revealed that 65 percent of the applicants are first-time buyers...
Continue Reading • 17 Jun 2011
S'pore a top city for finance professionals
Singapore is the most popular Asian destination for finance professionals seeking overseas experience, according to a recent survey conducted by eFinancialCareers in May and June 2011.George McFerran, Head of Asia Pacific at eFinancialCareers, said the survey, which covered 3,019 finance...
Continue Reading • 16 Jun 2011
Govt considering new green belt
The possibility of a “Green Corridor” on the island’s north-south strip of railway land is being seriously considered, according to Brigadier-General (NS) Tan Chuan Jin, Minister of State for National Development.BG Tan has revealed in a Facebook post that the Urban...
Continue Reading • 16 Jun 2011
Mortgage approvals climb in Melbourne
Melbourne’s housing market has started showing signs of picking up, with new data revealing a 1.8 percent year-on-year increase in mortgage approvals in the first four months of 2011.According to data from the Australian Bureau of Statistics, there were 51,150 commitments transacted during...
Continue Reading • 16 Jun 2011
Lian Beng to construct Waterfront Isle condo
Singapore-based building construction group Lian Beng has secured a S$128.8 million contract to build the Waterfront Isle condo project at Bedok Reservoir Road, boosting its order book to around S$941 million.The company said the contract was awarded to its subsidiary, Deenn Engineering by FCL...
Continue Reading • 16 Jun 2011
Singapore Tenancy Management Group nabs 2 awards
Lettings agency Singapore Tenancy Management Group Ltd (STMG) was awarded the Best Lettings Agency for the Asia Pacific Region award and a five-star award in the Best Lettings Agency Singapore category at the Asia Pacific Property Awards 2011.“This is a huge honour for us and is just reward...
Continue Reading • 15 Jun 2011
Aussie mortgage troubles in Queensland
A recent mortgage report has listed Queensland as the worst performing Australian state in terms of mortgage debts.Global ratings agency Finch noted that one in 50 Queensland mortgage holders were unable to pay their mortgage on time.The report showed that Logan City has the highest home loan...
Continue Reading • 15 Jun 2011
Construction boom to see sudden fall
The construction boom in Singapore is looking less promising for contractors who face higher material costs, squeezed margins and labour shortage, as an increasing number of construction companies compete to reap the spoils.Fear also looms in the construction sector that the increase in demand...
Continue Reading • 15 Jun 2011
Famed economist warns of global downturn
Renowned economist Nouriel Roubini has revealed that global economies are experiencing more than just a “soft patch”, as problems in the US real estate market and the impasse over its budget shortfall have induced pessimism.Mr. Roubini also mentioned that approximately half of all...
Continue Reading • 14 Jun 2011
Singapore-listed property stocks fall
Singapore-listed real estate stocks with major exposure to the Chinese market have fallen, as data from China raised concerns that a slowdown in its economy could lead to reduced demand for homes.The lending in China dropped in May and money supply rose at the slowest rate since 2008, suggesting...
Continue Reading • 14 Jun 2011
Low Keng Huat's Q1 profit climbs 14% to S$21m
Low Keng Huat (Singapore) has announced that its net profit in the first quarter rose 14 percent to S$21 million, despite a 56 percent decline in group revenue.The company said its revenue for the quarter dropped to S$39.80 million, from S$89.82 million over the same period last year. This was...
Continue Reading • 14 Jun 2011
S'pore's GDP growth could slow in Q2
Gross domestic product (GDP) growth in Singapore could slow to 6.7 percent in the second quarter, according to leading indicators of the recent BT-UniSIM Business Climate Survey.Based on contraction in exports and manufacturing in April, Survey Director Chow Kit Boey believes that Q2 GDP growth...
Continue Reading • 14 Jun 2011