UK home repossessions surge 15%
A total of 9,100 UK homes were repossessed in the first quarter of 2011, an increase of 15 percent from the previous quarter, according to the Council of Mortgage Lenders (CML).This figure is 10 percent lower compared to the same period last year and remains steady with the quarterly average of...
Continue Reading • 13 May 2011
PropertyGuru to air TV series on Asian real estate
Buying Asia, a six-part television series dedicated to understanding the Asian property market, will be shown on PropertyGuru TV. Hosted by real estate expert, writer, and founder / CEO of IP Global Tim Murphy, the new series will air every Thursday on PropertyGuru TV.The informative new series...
Continue Reading • 12 May 2011
RSYC breaks new ground with dry stack
Republic of Singapore Yacht Club (RSYC), Asia’s oldest yacht club, has broken new ground with the development of a five-storey vertical dry stack, a central part of RSYC’s ongoing S$9 million expansion project.After operating from its modern yacht club building for 11 years, RSYC...
Continue Reading • 12 May 2011
US mortgage fraud drops 41 percent
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Continue Reading • 12 May 2011
Ascott to launch first premium Ascott-branded serviced residence in Paris
The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence unit, has agreed to acquire a 100 percent stake in SNC Costes K, which owns the prime Hotel K and an adjacent vacant residential property in Paris, for approximately €65 million (S$118.4 million). Ascott plans to...
Continue Reading • 11 May 2011
Thai mortgage programme creates queues in Bangkok
Potential Thai home owners have waited for long hours at the Government Housing Bank (GHB) in Bangkok, hoping to obtain the interest-free loans allocated to new buyers.According to the Bangkok Post, the programme has a total fund of about 25 million baht (US$827,800) available for the first two...
Continue Reading • 11 May 2011
UE's Q1 profit climbs 6% to S$29.89m
United Engineers (UE) has recorded a six percent year-on-year increase in net profit to S$29.89 million in the first quarter, while its gross revenue climbed 17 percent to S$229.63 million.This was mainly attributed to the divestment of UE Print Media Hub, a five-storey industrial building at Tai...
Continue Reading • 11 May 2011
CapitaLand unit to develop affordable housing in Vietnam
CapitaValue Homes, the low-cost housing unit of CapitaLand, has entered into a joint venture (JV) agreement with Vietnamese real estate company Khang Dien House Trading and Investment to develop a 29,000 sq m land site in Ho Chi Minh City, Vietnam.The land site will be developed into 974 low-cost...
Continue Reading • 11 May 2011
OUE's Q1 profit climbs, helped by acquisitions
Mainboard-listed integrated property developer Overseas Union Enterprise Ltd. (OUE) has posted a 29.9 percent increase in profit-before-tax in the first quarter, on the back of a 42.2 percent increase in revenue to S$68.2 million. This was mainly attributed to a continued growth in its...
Continue Reading • 11 May 2011
PM Lee says no significant change in S'pore economic model
Analysts watching the results of the General Election (GE) will see no significant change in Singapore’s economic model, according to Prime Minister Lee Hsien Loong.He said that as the People’s Action Party (PAP) prepares the next government, market analysts can expect enough...
Continue Reading • 10 May 2011
Interest rate hikes in Australia impacting mortgage repayments
ANZ Banking Group executive Mike Smith revealed his growing concern at how increasing interest rates affect the ability of some consumers to repay their mortgages.Mr. Smith’s remarks followed Westpac Chief Gail Kelly’s, who had earlier acknowledged an increase in consumer arrears,...
Continue Reading • 10 May 2011
S-REITs seeking to expand portfolios
Industry analysts and players anticipate Singapore-listed real estate investment trusts (S-REITs) to increase their portfolios through purchases this year, on the back of a low interest rate environment.They believe more diversification could be on the cards of the REITs whose portfolios already...
Continue Reading • 10 May 2011
Spotlight on green buildings
The 2011 Singapore Green Building Week (SGBW) aims to be more extensive and provide greater breadth and depth of discussion among industry practitioners in the region.Organised by the Building and Construction Authority (BCA), the yearly event will be held in conjunction with the second...
Continue Reading • 10 May 2011
FHA, Fannie Mae launch new mortgage programmes to assist consumers
Two US mortgage authorities, the Federal Housing Administration (FHA) and Fannie Mae, have recently launched new mortgage programmes to help consumers pay for their home energy improvements.Called PowerSaver, the FHA’s latest programme allows qualified homeowners to borrow as much as...
Continue Reading • 9 May 2011
PM Lee: Govt will be more sensitive to Singaporeans' concerns
Economic growth remains fundamental in the agenda of the People’s Action Party (PAP), as it prepares the next government.“I don’t think that will change,” said Prime Minister Lee Hsien Loong, who is also the PAP's secretary-general, as he took note of the issues that...
Continue Reading • 9 May 2011
GE results could unsettle S'pore market
The Singapore stock market can expect some negative impact from a more “pro-worker” position, which analysts anticipate the government to implement, after the ruling People’s Action Party’s (PAP) share of the popular vote fell to a historic low of 60.1 percent.Real estate...
Continue Reading • 9 May 2011
Awards for Singapore's top 10 architectural firms, property developers
BCI Asia honoured Singapore’s 10 most active architectural firms and property developers with the BCI Asia Top 10 Awards at the annual BCI Asia Awards ceremony, held on 6 May 2011 at the Marriott Hotel.The BCI Asia Top 10 Awards for 2011 in the property developers category were presented to...
Continue Reading • 9 May 2011
M&C's Q1 profit up 15.6% to S$28.5m
London-listed Millennium & Copthorne Hotels (M&C), a wholly-owned hotel unit of City Developments Ltd (CDL), has recorded a net profit of £14.1 million (S$28.5 million) in the first quarter, up 15.6 percent from last year’s £12.2 million (S$24.6 million).Q1 revenue...
Continue Reading • 9 May 2011
Wee Hur's Q1 profit jumps 90%
Construction and property developer Wee Hur Holdings has announced that its net profit in the first quarter jumped 90 percent to S$10.2 million, from $5.4 million a year ago, attributed to strong growth in its property development business.Revenue for the quarter also climbed 89 percent to S$55.3...
Continue Reading • 9 May 2011
CapitaLand names new COO
CapitaLand Limited, Southeast Asia’s largest real estate company, has appointed Lim Ming Yan as its new Chief Operating Officer (COO).Mr. Lim, who will continue his role as CEO of the Ascott Ltd, will lead several of CapitaLand’s key projects, including coordination across business...
Continue Reading • 9 May 2011