CapitaLand acquires controlling stake in StorHub brand
Property giant CapitaLand has forked out some $39.2 million to buy a majority stake in the fast-growing, self-storage business of Hersing Corporation.The two firms said that they have set up a joint venture (JV) company – 38 percent owned by Hersing and 62 percent owned by CapitaLand...
Continue Reading • 19 Apr 2010
30-year mortgage rates in the US drop to 5.07%
Mortgage rates in the US fell this week, after a month-long increase that coincided with the Federal Reserve’s ending of home loan debt purchases.Rates of 30-year fixed mortgages fell 5.07 percent for the week that ended April 15, from 5.21 percent, said mortgage finance company Freddie...
Continue Reading • 16 Apr 2010
Tightening of Singdollar benefits property buyers
Property buyers can take advantage of falling interest rates, brought about by the tightening of the Singapore dollar, which attracts capital influxes.After the Monetary Authority of Singapore (MAS) appreciated the local unit to stem inflationary pressures, the key three-month Sibor (Singapore...
Continue Reading • 16 Apr 2010
Exclusive HLF loan rates for CDL's Sentosa project
Hong Leong Finance (HLF) is offering an exclusive financing package, with rates from 0.98 percent a year, to buyers of The Residences at W Singapore Sentosa Cove.City Developments Ltd (CDL), a unit of Hong Leong Group, is developing the 228-unit luxury project.According to HLF, its home loan...
Continue Reading • 15 Apr 2010
Singapore economy made a remarkable recovery, says PM Lee
Prime Minister Lee Hsien Loong stressed that the economic condition of the country has made a remarkable recovery from the previous year, and he expects a good year ahead.The economic rebound from the downturn exceeded expectations, added PM Lee, reacting to the strong economic performance of the...
Continue Reading • 15 Apr 2010
CapitaMalls Asia posts strong Q1 profit
CapitaMalls Asia (CMA) has reported a net profit of $96.8 million for the first quarter of the year – higher than last year’s $10.3 million – as the mall operator saw higher rental income from its majority-owned malls and recorded profits from the units sold in The Orchard...
Continue Reading • 15 Apr 2010
UK mortgage lending jumped 12% in February
January was a tough month for mortgage lending in the UK, as it was affected by severe winter weather and the end of the stamp duty holiday in December.Mortgage advances, which is the actual amount given to a buyer, increased by 50 percent in February, but the number of remortgage loans declined...
Continue Reading • 14 Apr 2010
Australian home loan demand falls for fifth consecutive month
Mortgage demand in Australia dropped for the fifth consecutive month in February, as tighter lending conditions and increasing interest rates discouraged interested borrowers.According to data released by the Australian Bureau of Statistics (ABS), only 50,287 mortgages were granted to...
Continue Reading • 13 Apr 2010
Survey finds positive Q2 business expectations
Sustained by the improving global sentiment and brighter economic outlook, many local companies in Singapore have reported strong market expectations for the current quarter in the latest Business Optimism Index survey conducted by Dun & Bradstreet.The Business Optimism Index is based on the...
Continue Reading • 13 Apr 2010
Asian bubble concerns unlikely to spur severe market crash, says DBS CEO
Property bubbles are forming in some of the key cities in Asia which may lead to a market correction, according to Mr. Piyush Gupta, chief executive officer of DBS.In a speech at an event organized by the American Chamber of Commerce in Singapore, he stressed that more Asian governments may...
Continue Reading • 13 Apr 2010
Investors to hold down US mortgage rates, says Pimco
Investor demand for mortgage-backed securities will help keep the cost of US home loans down after the Federal Reserve ended its $1.25-trillion purchase programme for the debt, said Pacific Investment Management Co., manager of the world’s biggest bond fund.Home prices in the US are...
Continue Reading • 12 Apr 2010
Real estate agencies urge agents to go back to school
Property agencies are sending their agents back to school, as they are preparing for tighter rules in their industry.Some are even urging their agents to take existing accreditation tests and attend preparatory courses to improve their chances of passing the mandatory industry examination, which...
Continue Reading • 12 Apr 2010
US mortgage rates hit eight-month high
The rates for 30-year home loans in the US jumped this week, hitting its highest level in eight months amidst improving economic conditions and the end of the government’s move to push down interest rates.According to a weekly survey of conforming mortgage rates released by Freddie Mac, the...
Continue Reading • 9 Apr 2010
Competition in the Australian mortgage market returns
Australian Finance Group, the biggest mortgage broker in Australia, said that refinancing had hit a record high of 37.2 percent of all mortgages arranged.AFG’s latest mortgage index showed that lending by major banks such as National Australia Bank, Westpac, ANZ and the Commonwealth Bank,...
Continue Reading • 8 Apr 2010
Evergrande shares gain 8.5% on higher sales
Evergrande Real Estate Group Ltd, the second biggest developer in China in terms of sales, has gained 8.5 percent in Hong Kong after reporting that its Q1 sales more than doubled.The stock closed at HK$3.59, its highest price since Feb 3.According to Kenny Tang, an analyst from Redford Asset...
Continue Reading • 8 Apr 2010
Banks looking to snatch home loans market from smaller lenders
Big lenders in Singapore are lowering their interest rates to beat off competition from each other and smaller financial institutions in a sizzling home loans market.Financiers had some of the lowest interest rates at the start of the year, but three months on, many banks have also started...
Continue Reading • 7 Apr 2010
No signs of recovery for US commercial mortgage market
Nearly half of commercial mortgage lenders in the United States might be underwater at the end of 2010, as no positive signs of recovery have been seen in the sector during the first quarter of the year.The delinquency rate on US commercial mortgage-backed securities is rising and might hit a...
Continue Reading • 6 Apr 2010
Perennial to launch Singapore and China mall funds
Perennial Real Estate, a company established by the former head of the shopping mall business of CapitaLand, plans to launch property funds that will acquire malls in Singapore and China to tap the growing consumer demand in the region.Mr. Pua Seck Guan, who left CapitaLand in 2008, is returning...
Continue Reading • 6 Apr 2010
Roxy-Pacific joins consortium to acquire Marina House for S$148m
A consortium led by Roxy-Pacific Holdings, a homegrown specialty property and hospitality group listed on the SGX Mainboard, has acquired the Marina House at Shenton Way for S$148 million.The deal was done through its wholly-owned subsidiary RL Properties, which has formed a group with four other...
Continue Reading • 6 Apr 2010
Beware of increasing interest rates
Home prices in the mass market segment have exceeded the previous 2008 peak.However, property consultancy firm DTZ said that these homes are still considered affordable, as home loan interest rates remain at a record low.According to Ms. Chua Chor Hoon, research head of DTZ in South-east Asia,...
Continue Reading • 5 Apr 2010