Mortgages - Applications from US rise by 1.3%
Mortgage applications in the United States increased 1.3 percent, said the Mortgage Bankers Association.The industry group also said that the Market Composite Index, which measures the mortgage loan application volume, rose to 1.3 percent on a seasonally adjusted basis from the previous week,...
Continue Reading • 1 Apr 2010
Singapore Real Estate - Economy on the upturn
The Singapore property market has made an impressive recovery over the past year. Prices of mass-market homes in the residential sectors have exceeded the 2007 peak, with predictions that the luxury segment this year will reach the record highs of 2007.Things are also going well in the office...
Continue Reading • 1 Apr 2010
Singapore Property - Bank lending jumps further
Singapore bank lending has expanded in February for the fourth straight month, amidst growing confidence amongst banks and borrowers on the economic outlook.According to the latest estimates from the Monetary Authority of Singapore, total bank lending in the Singapore-dollar increased by 0.5...
Continue Reading • 1 Apr 2010
Competition in the Australian mortgage market heating up
The improving funding markets in Australia are stirring up competition in the country's mortgage market, according to the Reserve Bank.Assistant governor Guy Debelle said that alternative funding sources, like securitisations, are beginning to emerge for smaller banks and non-bank lenders, and...
Continue Reading • 31 Mar 2010
Stamford Land to sell Australia tower for A$140m
Stamford Land Corporation is selling its Grade A office tower in Perth's central business district for about A$140 million (S$179 million).The 13-storey Dynons Plaza at Hay Street in Australia is now under construction and Stamford Land is “gearing up to place the asset on the...
Continue Reading • 31 Mar 2010
UK mortgage approvals drop to nine-month low
Mortgage approvals in the United Kingdom dropped, as expected, to a nine-month low last month, adding to signs that credit constraints are delaying the recovery of the UK housing market.According to the Bank of England (BOE) yesterday, lenders granted 47,094 loans to purchase homes compared with...
Continue Reading • 30 Mar 2010
YTL Corp working to double its sales for H1 2010
YTL Corp, a Malaysian infrastructure conglomerate, has said it is working to double its 2010 sales from 2009’s US$2.6 billion.The firm stated that it is confident in achieving a 20 percent growth on its profits and sales over the next 10 years. It added that the improving economic condition...
Continue Reading • 30 Mar 2010
Australia's RBMS a cheaper source of home loans
Analysis done by the Australian Office of Financial Management showed that private investors are returning to the residential mortgage-backed securities (RMBS) market, and risk premiums in Australia are declining, lowering the cost for borrowers.During the peak of the global crisis, the federal...
Continue Reading • 29 Mar 2010
Government to explore ways to tie CPF to HDB flat purchases
The government is exploring ways on how it can further tie a person's CPF to the purchase and sale of a HDB flat, according to PM Lee Hsien Loong at a forum on securing Singapore's future.The move is aimed at reinforcing the message that property is an asset for one's old age.It is a growing...
Continue Reading • 29 Mar 2010
New mortgage loans in HK drop in February
New mortgage loans in Hong Kong drawn down in February declined 1.5 percent to 17.1 billion HK dollars, while new loan approvals slumped 10.1 percent to 26.6 billion HK dollars, according to the HK Monetary Authority.The decline in new loans approved was largely due to the reduction of 1.5...
Continue Reading • 26 Mar 2010
Koon Holdings enters public housing market with $3.75-million ECIC acquisition
Koon Holdings has entered into the public housing market with the acquisition of ECI Corporation (ECIC) worth $3.75 million.Koon and JKM Engineers have jointly purchased ECIC from Jasper Investments.The sale and purchase agreement is valued at $5 million.Koon will have a 75 percent share in ECIC,...
Continue Reading • 26 Mar 2010
Government rebuts REDAS president's free market theory
The Ministry of National Development (MND) has issued a statement to rebut what Mr. Simon Cheong, president of Real Estate Developers' Association of Singapore (REDAS), had said on Wednesday.It has defended its Reserve Price system for state land tenders, and disagrees that it has constrained the...
Continue Reading • 26 Mar 2010
Australia's AMP Bank and CUA cut mortgage rates
AMP Bank and Credit Union Australia have cut down their variable mortgage interest rates, a move that will encourage Australian homebuyers to compare home loans.According to a report by Smart Company, CUA recently announced a 25 basis point slash in its variable mortgage rates to 6.37 percent,...
Continue Reading • 25 Mar 2010
Offset mortgages in the UK better for savings, says expert
Offset mortgages could help people to make their savings work in their financial interests to reduce their mortgage term, said Kevin Bray, an insight analyst at Defaqto. But he advised homeowners to choose carefully."For the right offset mortgage, look beyond the cheapest rate on offer. Look...
Continue Reading • 24 Mar 2010
Cheung Kong looks for more land sites in Singapore
Hong Kong property developer Cheung Kong Holdings is looking for more commercial and residential sites to purchase in Singapore, said Justin Chiu, the company’s executive director.“We are looking at a few pieces of land,” said Mr. Chiu. “The whole market (in Singapore) is...
Continue Reading • 24 Mar 2010
Asian stocks mostly up in early Tuesday trading
After gains on Wall Street on Monday, Asian share markets were mostly higher early on Tuesday. The safe passage of the US healthcare legislation in the House of Representatives late on Sunday also lifted the market sentiment.Singapore's Straits Times Index edged up 0.7 percent or 20.02 points to...
Continue Reading • 23 Mar 2010
HKMA warns against mortgage interest rates risk
The Hong Kong Monetary Authority (HKMA) has warned several banks against the risk of interest rates in their mortgage portfolios. According to HKMA’s half-yearly report, net interest margins of local lenders narrowed to a record low 1.48 percent in December, laying pressures on their...
Continue Reading • 23 Mar 2010
Ellipsiz to sell stake in Joo Koon Crescent building for $4.4m
Ellipsiz, an engineering and advanced packaging solutions provider, has agreed to sell its stake in a building at 12 Joo Koon Crescent for $4.4 million.The company is expected to register a net profit of $1.7 million from the sale’s proceeds.According to Ellipsiz, the proposed sale will...
Continue Reading • 23 Mar 2010
First time UK homebuyers still need to find huge deposits
There have been reports circulating around in the UK mortgage market that the number of mortgage deals aimed for first time homebuyers is increasing. Figures have also shown that about 400 mortgage packages are now available for borrowers with a 15 percent deposit, which is now considered to be...
Continue Reading • 22 Mar 2010
New REIT hoping to fetch $400 million
Cache Logistics Trust has lodged its listing prospectus with the Monetary Authority of Singapore, unveiling that the new REIT is hoping to fetch around $400 million through its IPO.Based on the prospectus, Cache is offering 474.2 million units at 84-88 cents each.Depending on the issue price, an...
Continue Reading • 22 Mar 2010