Banks in Singapore halting home loan subsidies
By Romesh Navaratnarajah: It appears that banks in Singapore can no longer subsidise legal and valuation fees for a home loan package, meaning that consumers will have to pay from their own pocket, or they could receive a lower loan amount after costs are deducted. The New Paper had earlier...
Continue Reading • 4 Oct 2012
CapitaLand clinches top awards
By Romesh Navaratnarajah: Property giant CapitaLand bagged the prestigious Golden Circle Award and Most Transparent Company Award (Real Estate) for the 12th consecutive year at last night’s Securities Investors Association Singapore (SIAS) Investors’ Choice Awards. The Golden Circle...
Continue Reading • 4 Oct 2012
Aussie banks refuse to pass on interest rate cut
By Romesh Navaratnarajah: The Reserve Bank of Australia (RBA) yesterday delivered an early Christmas present to homeowners, slashing the official cash rate by 25 percentage points to 3.25 percent, the lowest level in three years. However, major lenders have refused to pass the rate cut, reported...
Continue Reading • 3 Oct 2012
CDL thinks green
By Romesh Navaratnarajah: Singapore-based developer City Developments Limited (CDL) is leading the way in sustainable property development, with its newly-launched 240-room W Singapore – Sentosa Cove (pictured) considered the most eco-friendly hotel in the country.Approximately 3.5 percent...
Continue Reading • 3 Oct 2012
UK lending scheme fails to take off
By Romesh Navaratnarajah: The volume of new loans granted to households and businesses in the UK has not improved significantly and the cost of mortgages is rising despite the launch of the Bank of England’s Funding for Lending Scheme (FLS) in July, reported the Financial Times.Data...
Continue Reading • 2 Oct 2012
Ascott Reit buys property in Hamburg
By Romesh Navaratnarajah: Ascott Residence Trust (Ascott Reit) has entered into a sale and purchase agreement (SPA) to buy a prime property located in Hamburg, Germany for €37.5 million (approximately S$59.4 million). The 166-unit Madison Hamburg (pictured) will be Ascott Reit’s...
Continue Reading • 1 Oct 2012
NHB names 91st and 92nd historic sites in S'pore
by Cheryl TayThe National Heritage Board (NHB) has named the old Ministry of Home Affairs (MHA) headquarters as Singapore’s 91st historic site, and the 5.6 ha Phoenix Park (pictured) off Tanglin Road as the 92nd.During the colonial era, the MHA building served as the office of the...
Continue Reading • 1 Oct 2012
US mortgages rebound in a big way
By Romesh Navaratnarajah: Moving on from the 2008 global financial crisis, the mortgage sector in the US is witnessing a comeback, boosting the profits of major banks, according to Thomson Reuters I/B/E/S.Major lenders JPMorgan Chase and Wells Fargo are expected to register over US$4.5 billion...
Continue Reading • 1 Oct 2012
Govt to spend S$500m on elder-care facilities
By Romesh Navaratnarajah: To address the needs of a fast-growing elderly population in Singapore, the government plans to spend S$500 million in the next four years to boost the number of nursing homes, senior activity centres and senior care centres.Most of the aged-care facilities will be built...
Continue Reading • 1 Oct 2012
US mortgage rates tumble again
By Romesh Navaratnarajah:Mortgage rates in the US dropped to record lows and the mortgage securities sector is on the verge of converging with benchmark 10-year Treasury yields, with investors preparing for substantial purchases by the Federal Reserve, reported the Financial Times. According to...
Continue Reading • 1 Oct 2012
DDProperty announces latest property showcase
By Romesh Navaratnarajah:Thailand’s leading property portal, DDProperty.com, a member of PropertyGuru Group, will hold its much awaited DDProperty Showcase at Central Plaza Ladprao in Bangkok from 4 to 10 October 2012. The seven-day event will feature top property developers such as CMC...
Continue Reading • 28 Sept 2012
PM Lee promises more affordable homes
By Romesh Navaratnarajah:Prime Minister Lee Hsien Loong has reassured Singaporeans that the government will build more flats at affordable prices so that it remains within the reach of young first-time buyers, noted The Straits Times. “It's not my purpose to build flats and leave them on...
Continue Reading • 28 Sept 2012
Singapore inflation rate cools down
By Romesh Navaratnarajah:The inflation rate slowed further in August, giving Singapore’s central bank (MAS) leeway to relax monetary policy next month by slowing down the appreciation of the Singaporean dollar, reported Asia One.Singapore’s consumer price index increased by 3.9...
Continue Reading • 26 Sept 2012
Aussie lenders scramble for share in sub-prime lending market
By Romesh Navaratnarajah:Non-bank lenders in Australia are taking advantage of the growing sub-prime lending sector, a market that comprises low-doc loans and mortgages for borrowers with credit problems, who are ineligible for ‘prime’ loans, reported The Australian.In particular,...
Continue Reading • 26 Sept 2012
Construction of elderly home in Bishan East to proceed
By Romesh Navaratnarajah:Despite previous objections from some residents, the Ministry of Health (MOH) has decided to push through with the construction of a new nursing home for the elderly on an empty land along Bishan Street 13, reported Asia One.But to appease the residents, the elderly care...
Continue Reading • 26 Sept 2012
CDL named best green builder in Asia Pacific
By Romesh Navaratnarajah:City Developments Limited (CDL) has been honoured as the 2012 Asia Pacific Green Builder of the Year, as part of the 2012 Frost & Sullivan Asia Pacific Green Excellence Awards.The awards were conferred to Asia Pacific companies that excelled in green product and...
Continue Reading • 26 Sept 2012
Parents' pensions could back UK mortgages
By Romesh Navaratnarajah:UK Deputy Prime Minister Nick Clegg has proposed that working parents should be allowed to use their pension savings to help children acquire their first home, according to the Financial Times. “The government is going to do something which hasn’t happened...
Continue Reading • 24 Sept 2012
Singapore developers win top awards in business and sustainability
By Romesh Navaratnarajah:In recognition of their efforts towards sustainability and corporate excellence, Singapore-based developers Keppel Land and CapitaLand have been conferred international industry awards. Keppel Land was conferred the Global Real Estate Sustainability Benchmark (GRESB),...
Continue Reading • 24 Sept 2012
20% of Aussie home buyers under severe mortgage stress
By Romesh Navaratnarajah:Nearly 20 percent of first-time home buyers in Australia could lose their homes in the coming months, according to an Australian Mortgage Stress Analysis Survey. The study, which surveyed 26,000 households, found that the number of young home buyers in severe mortgage...
Continue Reading • 21 Sept 2012
Dismal August for UK mortgage market
By Romesh Navaratnarajah:Loan-to-value ratios and overall lending volume in the UK for August slumped back to 2010 levels, according to a Mortgage Monitor Survey by e.surv.Last month, mortgages granted fell by eight percent to 48,913 from the same period in 2011. In particular, loan approvals for...
Continue Reading • 20 Sept 2012