Many fear home repossession in the UK
By Romesh Navaratnarajah: More than a quarter of Britain’s mortgage holders fear that their home could be repossessed, according to a study conducted by consumer website Which?. Moreover, 50 percent of the population are also worried about the rising interest rates. While the Bank of...
Continue Reading • 11 Dec 2012
US loan applications surge
By Romesh Navaratnarajah: Mortgage applications in the US climbed in the previous week with loans for new home purchases reaching a record-high for the year, according to the Mortgage Bankers Association’s (MBA) weekly survey. MBA’s index of mortgage application activity, which...
Continue Reading • 11 Dec 2012
Cordea Savills buys first assets in London
By Romesh Navaratnarajah: Cordea Savills, on behalf of its Prime London Residential Development Fund, has acquired the first two assets in Chelsea for around £40 million (S$78.57 million).Comprising a former college building and chapel, the sites are located between the Fulham and Kings...
Continue Reading • 11 Dec 2012
Singapore a favoured spot for millionaires
By Romesh Navaratnarajah: Singapore has edged out Hong Kong in terms of living conditions deemed most desirable in the Asia Pacific region for mobile millionaires, according to a survey by RBC Wealth Management.The city-state was favoured by almost a third of US dollar millionaires who spend most...
Continue Reading • 11 Dec 2012
US mortgage rates up slightly
By Romesh Navaratnarajah:Average mortgage rates in the US inched up last week but are still near historic lows, keeping home buying and refinancing attractive for consumers, reported The Associated Press.According to mortgage giant Freddie Mac, the average rate for 30-year loans rose to 3.34...
Continue Reading • 10 Dec 2012
Keppel gains firmer foothold in Sri Lanka
By Romesh Navaratnarajah: Singapore’s Keppel Group has successfully acquired a 60 percent stake in a property unit that will build a 260-unit luxury residential development in Colombo, Sri Lanka (pictured).According to media reports, Keppel and Sri Lanka-based CT Holdings formed Keppel CT...
Continue Reading • 10 Dec 2012
Aussie borrowers advised to shop around
By Romesh Navaratnarajah:Four million mortgage holders in Australia have been urged to shop around for the best loans after the central bank’s rate cut brought fixed loans down to their lowest levels in three years.The rates of one- to three-year fixed-rate loans fell below that of standard...
Continue Reading • 7 Dec 2012
Singapore tops quality of living in Asia: survey
By Romesh Navaratnarajah: Singapore has once again topped the list for quality of living across Asia, a position it also held last year, based on the latest Mercer survey.The study, which serves as a guide for multinational firms and other organisations that compensate employees when assigning...
Continue Reading • 7 Dec 2012
Major facelift planned for Civic District
By Romesh Navaratnarajah: In a bid to transform Singapore’s Civic District into a world-class arts and cultural hub, the Urban Redevelopment Authority (URA) will engage consultants to help revitalise the district’s appeal by enhancing pedestrian connectivity and creating public...
Continue Reading • 7 Dec 2012
President awards top designers, projects
By Romesh Navaratnarajah:The prestigious President’s Design Award 2012 has honoured four designers and nine projects this year for their contribution towards improving the way of life among Singaporeans. Now in its seventh year, the awards presented by President Tony Tan Keng Yam were...
Continue Reading • 6 Dec 2012
Sysma to acquire 100% interest in De Paradiso
By Romesh Navaratnarajah: Sysma Holdings Limited plans to acquire a 100 percent stake in De Paradiso Development, a private Singapore investment holding company that owns two sites at Serangoon. The proposed acquisition will entitle the company to full ownership of the sites, with a price...
Continue Reading • 6 Dec 2012
UK mortgage fraud to spike in 2013
By Romesh Navaratnarajah: Mortgage fraud in the UK is expected to rise significantly in 2013 and could hit the highest level since 2009, noted global information service firm Experian. 43 out of every 10,000 loan applications are expected to be fraudulent next year, a 13 percent jump from this...
Continue Reading • 5 Dec 2012
Singapore plans to go underground
By Cheryl Tay:Land scarce Singapore seems to have found another way to free up land. Minister for National Development Khaw Boon Wan shared in his latest blog entry about his recent visit to the Jurong Rock Caverns (JRC) beneath Jurong Island’s Banyan Basin with Minister in the Prime...
Continue Reading • 4 Dec 2012
OCBC offers new mortgage insurance
By Romesh Navaratnarajah: In a bid to encourage consumers to take up a mortgage insurance plan, OCBC Bank has launched a scheme that gives back collected premiums at the end of the policy term, provided no claims have been made. While clients have taken out larger loans due to rising home prices,...
Continue Reading • 4 Dec 2012
Cooling measures ignite HK mortgage war
By Romesh Navaratnarajah: Hong Kong banks are likely to fight it out in a mortgage war due to the shrinking home loan market caused by the government’s property cooling measures, according to The Standard. Considered one of the largest lenders in the Special Administrative Region (SAR),...
Continue Reading • 3 Dec 2012
Singapore slips, rated neutral
By Romesh Navaratnarajah: Due to a lack of earnings growth and soaring costs from economic restructuring, Singapore’s rating has slipped from ‘overweight’ to ‘neutral’, according to a report from CIMB Research and mentioned in The Business Times. “Within the...
Continue Reading • 3 Dec 2012
US mortgage rates show little change
By Romesh Navaratnarajah: Home loan rates in the US remained virtually unchanged for the week ended 29 November, with borrowing costs hovering near historical lows as home prices recover from a six-year slump, reported Bloomberg. According to Freddie Mac, the average rate for 30-year fixed loans...
Continue Reading • 30 Nov 2012
CapitaLand honoured for efforts in China
By Romesh Navaratnarajah:Property developer CapitaLand has clinched the prestigious Business China Enterprise Award at the Business China Awards 2012, in recognition of its business growth and efforts to strengthen Singapore-China relations. “It is a privilege and honour that CapitaLand...
Continue Reading • 30 Nov 2012
Govt must make tough decisions on land supply
By Romesh Navaratnarajah: The Ministry of National Development (MND) will find it hard deciding on land supply to be allocated for private housing projects in 1H2013, said property experts. It will have to balance several factors such as looming supply glut, record home sales, an economic...
Continue Reading • 29 Nov 2012
Nationwide mortgage loans pick up
By Romesh Navaratnarajah: Nationwide said it was responsible for nearly 20 percent of all new mortgages granted to first-time buyers in the UK, a sign that it has played its part in bolstering the country’s economic recovery, The Guardian reported. Gross lending for the first half of this...
Continue Reading • 28 Nov 2012