Changes to Conveyancing Act will safeguard clients' funds
The proposed changes to the Conveyancing Act introduced yesterday by Law Minister K. Shanmugam will make it more difficult for conveyancing lawyers to make off with their clients’ funds.Once the changes are approved, lawyers will be prevented from receiving and holding conveyancing money...
Continue Reading • 11 Mar 2011
Chinese banks ordered to properly handle mortgage loans
The China Banking Regulatory Commission (CBRC) has urged banks to “properly handle” problems associated with mortgage loans and protect the rights of customers while improving risk management.“All banks must strictly implement the country's macro control policies over the...
Continue Reading • 11 Mar 2011
US mortgage applications climb 16%
The number of mortgage applications in the US climbed last week, a sign that the US housing market is stabilising.According to the Mortgage Bankers Association (MBA), the loan applications index rose 16 percent in the week ended 4 March, the highest increase since June last year. MBA’s...
Continue Reading • 10 Mar 2011
S-REITs continue to grow, says DBS Vickers
S-REITs’ results for the fourth quarter of 2010 were “a continuation of the strong showing in 3Q10 with the sector reporting topline, net property income and distributable income growth of 10 percent, 13 percent and 11 percent respectively”, said DBS Vickers...
Continue Reading • 10 Mar 2011
Singapore GDP to hit only 5.7%
Singapore’s economic growth is expected to slow to 5.7 percent this year from its record pace in 2010, according to a study conducted by the Monetary Authority of Singapore (MAS).The survey of 20 analysts by Singapore’s central bank showed that growth in the construction, financial...
Continue Reading • 10 Mar 2011
China's mortgage rate increase leaves HK unaffected
The two percent mortgage rate increase expected in China this year will have minimal impact on Hong Kong’s property market, according to property advisers DTZ Debenham Tie Leung.Alva To Yu-hung, Consulting and Research Director at DTZ, said such interest rates will remain affordable.Mr. To...
Continue Reading • 9 Mar 2011
Companies focus on corporate real estate
Companies emerging from the worldwide recession are focusing on restructuring and the productive use of corporate real estate (CRE), according to the inaugural Global Corporate Real Estate Survey conducted by Jones Lang LaSalle (JLL) and Thomson Reuters.The survey of over 500 CRE executives...
Continue Reading • 9 Mar 2011
Redas' research to help find solutions to real estate issues
The Real Estate Developers’ Association of Singapore (Redas) will be heading a new focus group to research the issues affecting Singapore’s real estate market.The group, comprising Redas members, as well as analysts and researchers from CB Richard Ellis (CBRE), Cushman &...
Continue Reading • 9 Mar 2011
HomeGuru officially launches in Malaysia
The launch of AllProperty Media’s HomeGuru website (www.HomeGuru.com.my) in Malaysia has received positive response, gaining more than 55,000 property listings with a registered base of up to 5,000 real estate agents and page views hitting more than one million since 26 January 2011.The...
Continue Reading • 9 Mar 2011
New project to quadruple Ho Bee's profits
The S$820 million investment of Ho Bee’s new Grade A office project at one-north, Buona Vista is expected to generate up to a four-fold increase in its recurring profits, said CEO and Chairman Chua Thian Poh.Ho Bee, which is known for its luxury residential projects at Sentosa Cove, won the...
Continue Reading • 9 Mar 2011
IOI to become CDL's partner for South Beach project
Malaysia-based IOI Group is set to become City Developments Ltd’s (CDL) partner for Singapore’s South Beach project, said sources.IOI is understood to be nearing a deal to acquire the one-third stake of US-based Elad Group in the consortium developing the office, retail, hotel and...
Continue Reading • 9 Mar 2011
Singapore among top relocation destinations
Singapore has been ranked among the most popular global destinations for relocation.According to the Global Professionals on the Move Report 2011, commissioned by the Hydrogen Group, which surveyed 2,637 professionals from 85 countries, Singapore joined Canada in fifth place as one of the most...
Continue Reading • 8 Mar 2011
Variable mortgage rates catching on in Australia
Australian home buyers are starting to favour variable mortgage rates, according to a new study.Mortgage broker Loan Market stated that the number of home buyers deciding to compare mortgage loans on the Internet is increasing. It added that the term “home loan calculator” accounted...
Continue Reading • 8 Mar 2011
Perennial China Retail Trust to defer Singapore listing
Perennial China Retail Trust (PCRT) has announced its decision to defer its S$1.1 billion (US$861 million) initial public offering (IPO) in Singapore, due to adverse market conditions. The decision was made despite strong interest from cornerstone investors, including insurance companies, real...
Continue Reading • 8 Mar 2011
Private estate residents' panel receives boost
The People’s Association (PA) is currently struggling with how to adapt its programmes to meet the needs of an increasing number of Singaporeans living in private estates.Lim Boon Heng, Deputy Chairman of PA, announced a new coordinating unit for neighbourhood committees (NCs), the...
Continue Reading • 8 Mar 2011
Guidelines to curb showflat tricks on the cards
The Singapore government is planning to release new guidelines on promotional materials for new houses, in order to better help home buyers make decisions.National Development Minister Mah Bow Tan announced last week that stricter rules will likely be introduced to guarantee that...
Continue Reading • 8 Mar 2011
More borrowers taking multiple mortgages
Up to 15.1 percent of individuals who secured a new real estate loan in 2010 already had two or more outstanding loans.While this percentage has stayed relatively stable over the years, the absolute number of individuals making up the group has risen.As of 10 December 2010, 108,995 Singaporeans,...
Continue Reading • 7 Mar 2011
Singapore set to become Global-Asia hub
Singapore-based companies will be given the chance to expand into Asia using three government-proposed strategies.According to Mr. Lim Hng Kiang, Minister for Trade and Industry, the Government has designed three strategies to help Singapore-based companies grab growth opportunities, become...
Continue Reading • 7 Mar 2011
Darien Bradshaw joins CBRE's Asia Pacific team
Darien Bradshaw will join CB Richard Ellis’ (CBRE) Asia Pacific residential team as a new Executive Director for International Project Marketing.According to CBRE, Bradshaw will draw on his broad experience in the international housing business to help Asian investors and end-users acquire...
Continue Reading • 7 Mar 2011
UK mortgage lending improves in January
Mortgage lending in the UK peaked in January, as the real estate market recovered from its losses due to severe winter weather at end-2010.According to the Bank of England, net lending rose to £1.8 billion in January, up from the £268 million recorded in the preceding month. The...
Continue Reading • 4 Mar 2011