Moody's outlook for A-REIT is stable
Investors Service of Moody’s has altered its evaluation outlook yesterday, from “negative” to ”stable” for the Ascendas Real Estate Investment Trust (A-REIT). According to Kathleen Lee, the senior analyst of Moody’s, its outlook for A-REIT’s 'Baa1'...
Continue Reading • 28 Dec 2009
Lower income groups hit by inflation
New Government figures revealed 20 percent of Singapore’s poorest were hit twice by inflation on the first half of this year than more fortunate households.Largely because of increasing housing and food prices, 1.6 percent inflation during the first half were experienced by the low-income...
Continue Reading • 28 Dec 2009
All systems go for aerospace hub - JTC
With a lot of companies revitalising setback projects at Seletar Aeropace Park (SAP), other authorities and JTC Corp, which are assigned to manage the construction of the latest aerospace hub in Singapore are pushing further on the facility’s multi-million progress.According to Tang Wai...
Continue Reading • 24 Dec 2009
CCT: Anticipate, accelerate, accentuate
Singapore’s Real Estate Investment Trusts (REITs) seemed like a very vulnerable sector during the worst phase of the credit crisis, yet it weathered the storm and held fast.At the peak of the credit crisis, some sectors faltered miserably. However, most REITs in Singapore managed to roll...
Continue Reading • 24 Dec 2009
Legal questions arise after en bloc appeal
The Joo Chiat resident, who opposed the collective selling of his apartment for claims of procedural irregularities and unfairness of distribution manner, had taken the case to the High Court.At a hearing yesterday, Justice Andrew Ang, the presiding judge, questioned the legality of selling such...
Continue Reading • 24 Dec 2009
1 cluster house and 1 semi-D equivalent to 1 flat and $700k loss
In 1995, a general manager with a manufacturing company in his early 40s named Mr Zachary Tsai (not his real name) paid off about $1.3 million for a second house. Earning a five-figure wage, he owned a semi-detached house in Upper East Coast, where he lived with his wife and four kids.However,...
Continue Reading • 24 Dec 2009
Singaporean developers rev up production for sales
Keppel Corporation and Keppel Land will release their latest batch of 30 housing units at the Reflections in the Keppel Land condo today. The units have an average price of $1,950 per square fool (psf), assuming the buyers use the Deferred Payment System (DPS).Buyers who choose to pay through the...
Continue Reading • 24 Dec 2009
Sunway to develop a project in Singapore
A unit of Sunway Holdings Bhd, Sunway Developments Pte Ltd, has signed a joint-venture agreement with Hoi Hup Realty Pte Ltd to establish Hoi Hup Sunway Property Pte Ltd.The proposed joint venture will embark on a residential property development project on a freehold land parcel in...
Continue Reading • 24 Dec 2009
The real score on global economic recovery
Recently, global stock prices reached their peak for this year as they were popped up by optimism about prospects for a worldwide economic resurgence. However, this week saw stock prices dropping back to a three-month low as fresh concerns cropped up regarding the sustainability of the...
Continue Reading • 24 Dec 2009
Home loans go super cheap
Super cheap home loans have just been unveiled by two foreign banks in Singapore in an attempt to have a larger share in the booming mortgage market.Market observers, however, say that it is still too early to predict whether an all-out mortgage rates war is looming, although the recent rates are...
Continue Reading • 24 Dec 2009
Singapore shares ended 1.33% higher
Singapore shares ended 1.33 percent higher on Tuesday, with fund managers buying stocks for the year-end improvement, said an analyst.Singapore’s Straits Times Index gained 37.01 points to 2,823.82. Share volumes totalled to 1.21 billion with gainers leading losers 256 to 172."Window...
Continue Reading • 23 Dec 2009
Asian stocks closed mixed and HK property market hit
Asian markets ended Monday on a mixed note with major indexes posting reasonable moves in pre-holiday trade, as concerns over the cooling measures of the property market weighed on Hong Kong."We would expect the remainder of the week to see similar, small moves in Asian markets," said...
Continue Reading • 22 Dec 2009
Quest set to explore the Singapore market
Quest, a serviced apartment provider based in Australia is interested to break into the Asian market, beginning with Singapore. It has properties in Fiji, New Zealand and Australia.Paul Constantinou, chairman of Quest, said that Singapore is a ‘priority market’, with its ability to...
Continue Reading • 22 Dec 2009
Hong Leong unveils lowest HDB loan rates
Hong Leong Finance unveiled a new HDB loan package with the lowest rates in town.The latest offering by the finance company is aimed at one of the hottest segments in the market, with extreme interest in projects like the new flats to be constructed at Queenstown’s Dawson estate.Last week...
Continue Reading • 22 Dec 2009
Mortgagee sales volume at 12-year low
Many are expecting to see a surge in the volume of home loan defaults, with the worst recession in the history of Singapore and the growing tide of unemployed people who struggle with mortgage installments.It turns out that nothing could be further from the truth. The volume of properties up for...
Continue Reading • 21 Dec 2009
Hong Leong, Far East and Frasers lead property market poll
Hong Leong Group, Frasers Centrepoint and Far East Organization have been the most active companies in the local property market this year. The three companies most likely gained over $6 billion from selling more than 5,000 private homes, mostly from mid-tier and mass-market sites.This data came...
Continue Reading • 18 Dec 2009
Singapore shares closed mixed in thin trade
Yesterday, Singapore shares ended mixed in thin trade as the market slides down towards the end of 2009, said dealers.The blue-chip Straits Times Index (STI) closed 15.23 points or 0.54 percent at 2,813.93 on a volume of 1.32 billion shares amounting to $1.29 billion. In the broader market,...
Continue Reading • 17 Dec 2009
ARA and Qatar Group to jointly invest in Singapore Islamic REIT
ARA Asset Management and Qatar's Regency Group have collaborated to launch the first ever real estate investment trust in Singapore, and the property will be introduced in a way that all Islamic principles are considered, with the investor's interest coming back to the REIT sector.The proposed...
Continue Reading • 15 Dec 2009
New head picked for property agent monitoring agency
The Ministry of National Development (MND) picked Chionh Chye Khye, the current executive director (designate) with MND, to head a new government agency that will be set up next year to regulate Singapore’s property agents.Mr. Chionh, before joining the MND in 2006, was the chief executive...
Continue Reading • 11 Dec 2009
HLF eyeing the mega rich
Buyers looking for a landed home in central Singapore can now grab a special package offered by Hong Leong Finance.This is the latest marketing move by the company to attract home buyers in the competitive mortgage market.Hong Leong is targeting those families living in a tiny niche, who can...
Continue Reading • 11 Dec 2009