UK home loan approvals slightly up in March
The number of home loan approvals in the UK increased slightly last month, after it dropped in February, while net mortgage lending growth eased as homeowners paid off debt.According to the British Bankers' Association, the number of loans approved for home purchases climbed to 34,905 last month,...
Continue Reading • 28 Apr 2010
Real estate industry gets fundamental re-look
The government is taking a "fundamental re-look" at the entire property industry.This includes strengthening measures to curb abuses and deceitful practices, said National Development Minister Mah Bow Tan in Parliament.Among the measures, the government intends to plug a loop hole on...
Continue Reading • 28 Apr 2010
Suntec REIT's Q1 results drop
Suntec Real Estate Investment Trust (Suntec REIT) has announced that its distribution per unit (DPU) for the first quarter dropped 13.9 percent to 2.51 cents from last year’s 2.92 cents.Distributable income for the quarter that ended March 31 fell 2.1 percent to S$45.37 million on-year,...
Continue Reading • 28 Apr 2010
More difficult now for Australians to secure home loans
New rules which will allow brokers and banks in Australia to analyze the spending habits of borrowers will be implemented, thus making it harder for customers to secure credit services such as home loans.The legislation will take effect on 1 July 2010, and will enable financial institutions to...
Continue Reading • 27 Apr 2010
Strata Act changes may put an end to lengthy en bloc spats
The proposed amendments to the Land Titles (Strata) Act, which was introduced in Parliament yesterday, may likely put an end to the long-drawn conflicts arising from en bloc property transactions. The changes are expected to take effect in June 2010.According to the Ministry of Law, the proposed...
Continue Reading • 27 Apr 2010
China implements stricter policy on second-home purchase
China has announced that it would take further measures to cool down its housing market amidst growing concerns over asset bubbles forming in Asia.Beijing will take a stricter view of whether homebuyers are buying a second home, said a report by Reuters.Homebuyers of a second home in China are...
Continue Reading • 26 Apr 2010
A steady start for Singapore shares
Singapore shares started on a steady note today, with the key Straits Times Index gaining 0.18 percent or 5.28 points at 2,993.77.In the broad market, gainers beat losers at seven to one in a volume of 84.9 million stakes valued at $56.3 million.Among the leading advancers included Haw Par,...
Continue Reading • 26 Apr 2010
Bank of America to suspend mortgage payments for jobless borrowers
Bank of America is considering a programme that will give a nine-month break to jobless borrowers who struggle to pay their home loan obligations, with a condition that if they fail to find a job within the nine-month period, they will have to sign their house over to the bank.The bank will also...
Continue Reading • 23 Apr 2010
FCOT's Q2 net property income jumps 26%
Frasers Commercial Trust (FCOT) has posted a 26 percent increase in its net property income for the second quarter ended March 31, hitting $23.6 million from a year ago.This helped boost its total distributable income, which rose 167 percent over the same period to $14.5 million. Of this, holders...
Continue Reading • 23 Apr 2010
Home loan rates increase
The two key interest rates in the Singapore mortgage market, which measures the home loan costs, are near their all-time lows. However, borrowers who take out new mortgages may not be better off.Home borrowers usually benefit when these measures decline, but banks are now responding to the...
Continue Reading • 22 Apr 2010
IPA plans to bridge gap between banking and real estate market
Former Savills analyst Mr. Ku Swee Yong hopes to shake up the property scene in Singapore with his new agency International Property Advisor (IPA), which aims to connect high net worth individuals to suitable property investment products.“We want to provide a service to represent the...
Continue Reading • 22 Apr 2010
CapitaMall Trust's DPU increases 13.2% on-year in Q1
CapitaMall Trust (CMT) has announced that its distribution per unit (DPU) for the first quarter of the year has increased 13.2 percent on-year to 2.23 cents from 1.97 cents a year ago.The net property income during the first quarter rose 5.7 percent to S$97.6 million, while distributable...
Continue Reading • 22 Apr 2010
First-time buyers in the UK decline to a two-decade low, says GfK
The number of first-time homebuyers in the United Kingdom fell to the lowest level in almost two decades, as tighter lending conditions in the country curbed the people’s ability to purchase property, said GfK NOP.According to London-based GfK, about 347,000 first-time homebuyers took out a...
Continue Reading • 21 Apr 2010
Keppel Land posts Q1 net profit of $64.7m
Keppel Land has reported a net profit of $64.7 million in the first quarter of the year, up by 75 percent from last year’s $36.9 million. This is on the back of strong residential sales and better contributions from its property investment and fund management units.Revenue for the three...
Continue Reading • 21 Apr 2010
Banks in Australia more selective in mortgage lending
Many banks and financial institutions in Australia have implemented tighter lending criteria, which have made it harder for customers to secure a good deal and compare mortgages.Chris Acret, managing director of Smartline Personal Mortgage Advisers, said that while such changes have not made...
Continue Reading • 20 Apr 2010
K-Reit Asia's Q1 results increased, thanks to acquisitions
The recent acquisitions made by K-Reit Asia have boosted its financial results for the first quarter of 2010.K-Reit has reported a net property income of $13.9 million, up 28 percent from the previous year. The increase was attributed by more rental income from the 50 percent stake share in 275...
Continue Reading • 20 Apr 2010
A-Reit posts 2.73 cents DPU for Q4
Ascendas Real Estate Investment Trust (A-Reit) has announced that its distribution per unit (DPU) saw a 1.14 percent drop from 2.77 cents to 2.73 cents in Q4 that ended March 31. For the fiscal year, A-Reit posted a DPU of 13.10 cents, up 11.4 percent from 11.76 cents.The comparisons were largely...
Continue Reading • 20 Apr 2010
URA to gather feedback for Concept Plan 2011
The Urban Redevelopment Authority (URA) will organize two public forums in May to gather feedback for the upcoming Concept Plan 2011.Earlier, URA formed two focus groups to consider issues that will shape the environment of Singapore in the coming years. The focus groups have met over the past...
Continue Reading • 20 Apr 2010
Commercial banks in China can say NO to third-home loans
Commercial banks in China can now refuse borrowers who are purchasing their third homes in areas severely affected by increasing property prices.The new measure, which some analysts believe could cool down China’s sizzling property market, was issued by the State Council, the country's...
Continue Reading • 19 Apr 2010
CCT posts $54.3 million distributable income for Q1
CapitaCommercial Trust has recorded a distributable income of $54.3 million for Q1 2010, up 19.7 percent from the same period last year.CCT’s occupancy rate also increased to 95.1 percent in the first quarter from 94.8 percent in the fourth quarter last year. The committed occupancy rate of...
Continue Reading • 19 Apr 2010