PropertyGuru to hold property outlook forum
With the recent measures imposed by the Ministry of National Development (MND) to curb the private property market, together with the Estate Agents Bill introduced for a First Reading at Parliament, Propertyguru has announced that it will bring together several property experts to tackle...
Continue Reading • 13 Sept 2010
Westpac optimistic on property loans business
The Singapore branch of Westpac Private Bank is upbeat about the prospects of its property loans business here, which has tripled in volume in the last year.Sean Straton, head of premium client group in Singapore, explained that 65 percent of revenue from Westpac Private Banking came from...
Continue Reading • 13 Sept 2010
STI opens higher
Singapore stocks increased slightly on opening trade today after Wall Street gained positive data from the US and China on Friday, easing up previous worries about the pace of the global economic recovery.The STI was up 0.44 percent or 13.24 points at 3,035.52. Gainers beat losers in the broader...
Continue Reading • 13 Sept 2010
S'pore the world's 3rd most competitive economy
Singapore remains the most competitive economy in Asia and third in the world in a recently released global competitiveness ranking.According to the latest annual Global Competitiveness Report released by the World Economic Forum (WEF), Switzerland is still the world’s most competitive...
Continue Reading • 13 Sept 2010
Emerging market stocks may hit US$80 trillion
Emerging-market stocks may see more than a five-fold increase in their market value to US$80 trillion in 20 years, surpassing developed countries, as China becomes the largest stock market in the world, said Goldman Sachs Group Inc.Emerging countries’ share of world equity capitalisation...
Continue Reading • 9 Sept 2010
Aussie mortgage commitments up in July
Mortgage lending in Australia remains weak despite the monthly increases, giving room for the central bank to keep interest rates on hold, said some economists.Mortgage commitments for owner-occupied housing jumped more than 1.7 percent in July from the preceding month, according to figures...
Continue Reading • 9 Sept 2010
Banks set to gain from new measures
Banks would benefit from the new set of measures announced by the Singapore government to stabilise property prices and promote greater financial prudence among homebuyers, said Moody's Investors Service.Singaporean banks will benefit over the medium term as their exposures to future property...
Continue Reading • 9 Sept 2010
HK firm eyeing prime site in Singapore
Hong Kong-based Gaw Capital Partners hopes to enter into the Singapore property market with its bid to purchase Capitol Theatre and nearby properties at City Hall.The private equity fund manager plans to develop an iconic hotel and entertainment project on the site if it wins the bid, said...
Continue Reading • 9 Sept 2010
UOA Group opens Singapore office
Malaysian property developer UOA Group has opened a property sales gallery and customer service centre at Suntec City, as part of the company’s expansion plans to target Singaporeans and other foreign buyers eyeing its high-end residential and commercial developments.“It is a common...
Continue Reading • 9 Sept 2010
Thai developer launches new business unit
Thailand-listed property developer Asian Property Development (AP) has announced the launch of its new business unit that is dedicated to the development of new projects for the mass market segment.The new unit is part of AP’s new business model, which divides its business operations into...
Continue Reading • 8 Sept 2010
US mortgage bond prepayments rise in August
Principal prepayments of the US$5 trillion mortgage-backed securities (MBS) rose in August, as mortgage rates declined, according to online data provider eMBS.The data showed that the 4.5 percent constant prepayment rate that Fannie Mae MBS issued in 2009 and 2010 jumped in August to 18.8 percent...
Continue Reading • 8 Sept 2010
Sino Land annual profit up, but property sales dive
Hong Kong-listed property group Sino Land saw a huge jump in annual net profit, but recorded a decline in underlying profit, dropping 2.62 percent for the year due to lower property sales.Sino Land’s net profit, including revaluation surplus, surged 63 percent to HK$6.09 billion, while...
Continue Reading • 7 Sept 2010
Beijing tightens mortgage lending once again
Financial institutions in Beijing have tightened mortgage lending once again, with 80 percent of banks adjusting the discounts on mortgage rates for first-timers, from 30 percent down to 15 percent, according to The Beijing Times. Meanwhile, minimum down payment for first-time homebuyers has been...
Continue Reading • 7 Sept 2010
CapitaLand subsidiary wins Bedok site tender
A state land parcel at New Upper Changi Road and Bedok North Drive has been awarded to Brilliance Residential Ltd. and Brilliance Trustee Ltd. after it offered the highest bid in a public tender that closed on September 1. The two companies, which are wholly-owned subsidiaries of CapitaLand Ltd.,...
Continue Reading • 7 Sept 2010
New Aussie rules may increase mortgage rates
Banks in Australia may impose higher mortgage rates on borrowers to offset the costs of new liquidity rules that will drive up prices of the country’s safest financial assets.The global banking regulator, Basel Committee, is requiring banks to boost their holdings of the top-rated...
Continue Reading • 6 Sept 2010
Penalties await rule violators
HDB will be depending on non-subsidised flat buyers to declare if they own private properties in Singapore or abroad, but those found making false declarations will surely face penalties, including up to six months imprisonment or a fine of up to $5,000, or both.HDB announced these details on...
Continue Reading • 6 Sept 2010
US mortgage rates set new record
Mortgage rates in the US set a new record-low, reducing the costs of borrowing for homebuyers as demand slumps.The 30-year average rate of fixed mortgages dropped to 4.32 percent in the week ended yesterday from 4.36 percent last week, according to a statement released by Freddie Mac. Meanwhile,...
Continue Reading • 3 Sept 2010
GIC hires country head for India
The real estate arm of the Government of Singapore Investment Corporation (GIC) has confirmed the appointment of Kishore Gotety as its country head for India.Mr. Gotety's appointment, which took effect on August 23, suggests that GIC believes there are good investment opportunities in the Indian...
Continue Reading • 3 Sept 2010
8 Singapore firms make it to Forbes list
Eight locally-listed companies have made it to the Forbes list of best small- and medium-sized firms, attributed to growing sectors like property, resources and infrastructure.The number of Singapore companies on the “Best Under A Billion” list of Forbes Asia has increased from five...
Continue Reading • 3 Sept 2010
Proof needed to get a loan
Singapore home owners hoping to get an 80 percent loan on new property must first present evidence that their existing home has been sold.According to the MAS, home owners must present proof in the form of a purchase agreement and signed sale, as well as certification showing that stamp duty for...
Continue Reading • 2 Sept 2010