Malaysia introduces new mortgage rule
The Malaysian central bank has implemented limitations on the loan-to-value ratio for people taking out third home loans, in a move to curb “excessive” investment and speculation in the urban areas.Bank Negara Malaysia has imposed a maximum lending limit of 70 percent, which will...
Continue Reading • 4 Nov 2010
Ascott opens three new properties in China
The Ascott Limited, a wholly-owned serviced residence business unit of CapitaLand, has opened three new serviced residence properties with more than 600 apartment units in three Chinese cities.The 105-unit Somerset International Building Tianjin is the company’s latest acquisition through...
Continue Reading • 4 Nov 2010
New estate agent rules need time
New rules aimed at weeding out rogue real estate agents will take a few years to bring down the number of complaints, said the Consumer Association of Singapore (CASE).Seah Seng Choon, director of CASE, made this announcement as it appears that real estate agents are among the 10 most-complained...
Continue Reading • 3 Nov 2010
HK's Q3 RML in negative equity drops 51%
Hong Kong’s residential mortgage loans (RMLs) in negative equity dropped 51 percent to HK$200 million in the third quarter from HK$500 million in the second quarter, according to data compiled by the Hong Kong Monetary Authority.The unsecured portion of the loans hit HK$100 million.However,...
Continue Reading • 3 Nov 2010
October trading value boosted by mega IPOs
Trading on the Singapore Exchange (SGX) in October shifted to higher priced stocks, driven by the entry of two mega initial public offerings (IPOs).This was reflected by a 17.8 percent increase in trading volume to $44.79 billion from $38.03 billion in September, in spite of a 7.2 percent decline...
Continue Reading • 3 Nov 2010
More Reits to debut on SGX, says DBS
At least five more real estate investment trusts (Reits) could be making their entry onto the Singapore stock exchange in the next six months, which could possibly raise an average of $500 million each.More dual listings might also be seen, after several firms from China upgraded their guidelines...
Continue Reading • 2 Nov 2010
UK agent Hamptons opens office in HK
UK-based residential agent Hamptons International has opened an office in Hong Kong as part of its move to expand into Asia.Following several successful property exhibitions this year, Hamptons will introduce a range of new UK projects to Asia in the next two months.Hamptons said the office in...
Continue Reading • 2 Nov 2010
MAS adds new index to track Singapore economy
The Monetary Authority of Singapore (MAS) has created a new index to track the economy, and it has indicated that Singapore’s economic activity peaked in May following a rapid run-up of nearly six months.The newly-constructed Economic Activity Index (EAI), which comprises over a dozen...
Continue Reading • 2 Nov 2010
OCBC's mortgage applications drop 20%
Home loan applications at OCBC Bank have declined by 20 percent since the government implemented new measures to curb the property market, said David Conner, chief executive at OCBC Bank.However, Mr. Conner noted the bank’s home-loan portfolio should continue to expand, albeit at a slower...
Continue Reading • 2 Nov 2010
Emerging markets face capital overflow as economies improve
The rapid economic growth of emerging markets has resulted in currency appreciation and massive capital inflows, according to a report released by Moody’s Investors Service.While emerging economies have been enjoying faster growth and better credit positions than developed countries since...
Continue Reading • 1 Nov 2010
CapitaLand's YTD earnings hit $751.1m
Property developer CapitaLand has announced that its net profit for the nine months ended 30 September 2010 increased 4 percent to S$751.1 million, driven by higher development profits, divestment gains and fair value gain on investment properties.Excluding the impact of impairments and...
Continue Reading • 1 Nov 2010
CEA rules prohibit dual representation by agents
The Council for Estate Agents (CEA) has set out new rules prohibiting dual representation by salespersons, also known as property agents.Starting 15 November 2010, salespersons will no longer be able to represent both the seller or buyer or tenant and landlord in any real estate...
Continue Reading • 1 Nov 2010
CDLHT enjoys strong Q3 earnings
CDL Hospitality Trusts (CDLHT) has achieved a 5.5 percent increase in average occupancy rate to 91.6 percent in the third quarter for its Singapore hotels, attributed to the growth in strong visitor arrivals to the country.CDLHT’s average daily rate jumped 23.4 percent, while room revenue...
Continue Reading • 1 Nov 2010
Beijing, Shanghai banks tighten mortgage rates again
Commercial banks in Beijing and Shanghai have been ordered to cut the discount on mortgage rates given to first-time homebuyers, from the current 30 percent down to 15 percent of the property’s total value, according to a news report.The 30 percent discount on mortgage rates had been...
Continue Reading • 1 Nov 2010
CapitaLand sets up business unit in China, Vietnam
CapitaLand, the largest property developer in Southeast Asia, has set up a new business unit in China and Vietnam to expand its residential business in both countries.CapitaValue Homes, CapitaLand’s new business unit, will focus on developing affordable and well-designed homes in the two...
Continue Reading • 1 Nov 2010
KepLand to develop two sites in Vietnam
Keppel Land Limited, through its wholly-owned subsidiary Antiaris Ltd., has entered into a joint venture with local property developer Tien Phuoc Company Limited for the development of a 13.5ha waterfront project in Ho Chi Minh City, Vietnam.The gated development, which will comprise 225 villas,...
Continue Reading • 29 Oct 2010
New lender enters UK mortgage market
The Financial Services Authority (FSA) in the UK has announced that it has approved Precise Mortgages to sell regulated mortgages, providing more home loan choices to homeowners.Ian Lonergan, chief executive of Precise, said the company had been working hard to “deliver a proposition that...
Continue Reading • 29 Oct 2010
CMA Q3 profit up 14%
Capitamalls Asia (CMA), CapitaLand’s largest listed shopping mall developer in Asia, has announced that its net profit for the third quarter rose 14 percent to $68 million, from $59.6 million over the same period last year.The increase in Q3 earnings came despite a 22 percent decline in...
Continue Reading • 29 Oct 2010
Keppel Land named most admired ASEAN enterprise
Keppel Land Limited, a wholly-owned subsidiary of Keppel Corporation, has been named most admired ASEAN enterprise under the Corporate Social Responsibility category at the ASEAN Business Awards 2010.Organised in conjunction with the 16th ASEAN Summit, the award took place in Hanoi, Vietnam on...
Continue Reading • 29 Oct 2010
CBRE posts strong Q3 results
The world’s largest commercial real estate services firm CB Richard Ellis has reported strong earnings and revenue growth in the third quarter, with net income up 361 percent to US$57.0 million from US$12.4 million over the same period last year.Net income, excluding selected charges,...
Continue Reading • 28 Oct 2010