Constant inflation a complex challenge for MAS
As Singapore’s open economy makes it vulnerable to prices of foreign goods and money inflows which causes home prices to skyrocket, the Monetary Authority of Singapore (MAS) faces a complex challenge when it comes to constant inflation issues.However, Trade and Industry Minister Lim Hng...
Continue Reading • 11 Apr 2012
New HK mortgage loans hit 900b yuan
Hong Kong’s new mortgage loans extended by mainland banks hit 900 billion yuan (S$179.63 billion) in March, said a report.According to the China Securities Journal, total loans in the first three months of 2012 reached 2.35 trillion yuan (S$468.95 billion), slightly below the 2.4 trillion...
Continue Reading • 10 Apr 2012
US mortgage rates still low
The average rate of 30-year fixed mortgages in the US remained unchanged this week after it dropped to 3.98 percent last week, according to mortgage lender Freddie Mac.Meanwhile, 15-year fixed-rate mortgages also fell to 3.21 percent, above the record low of 3.13 percent seen in March. Mortgage...
Continue Reading • 9 Apr 2012
Random checks indicate showflats still misleading
Under new guidelines set in March, developers must ensure a faithful representation of their units when presenting showflats to buyers. But a random check of six showflats conducted by The Straits Times found that they all failed to implement some of the rules. This comes after a record...
Continue Reading • 9 Apr 2012
M'sia imposing stiff rules to avoid mortgage crisis
Malaysia is imposing ‘strict measures' to prevent a US-style sub-prime mortgage lending crisis after home prices climbed an average of 6.6 percent in the fourth quarter last year. “The government is worried about property prices causing a bubble and we don't want banks to over-lend to...
Continue Reading • 5 Apr 2012
See Hup Seng eyeing EC market
See Hup Seng Limited, a mainboard-listed company providing corrosion prevention services in Singapore, is eyeing a 30 percent stake in Serangoon EC Pte Ltd, a move that will benefit the company due to the robust demand for executive condominiums (ECs).The firm said it plans to enter into a joint...
Continue Reading • 5 Apr 2012
Oxley Holdings acquires Joo Chiat site for S$8m
Oxley Holdings, a Singapore-based property developer specialising in residential-cum-commercial developments, has continued its aggressive land-banking expansion with the latest acquisition of a 606 sq m freehold plot at Joo Chiat Road for around S$8 million.Situated at 339, 339A, 339B and 339C...
Continue Reading • 5 Apr 2012
Tharman: Govt working to cool property market
Overwhelming demand in the housing market has exceeded supply in recent years, and as a result, prices have surged faster than peoples’ incomes. Tharman Shanmugaratnam (pictured), Singapore’s Deputy Prime Minister, commented that “we're not in a very happy part of the...
Continue Reading • 5 Apr 2012
PropertyGuru ranked world's 8th most dominant property portal
Property portal PropertyGuru saw an overwhelming influx of online traffic over the last year, recording a 168 percent growth in visits and a record eight million visitors in February, compared to 2.5 million over the same period last year.Additionally, the group has seen a notable increase in...
Continue Reading • 4 Apr 2012
More Aussie borrowers switching to fixed-rate mortgages
A growing number of Australian borrowers are now switching to fixed-rate mortgages in order to avoid the effect of sudden interest rate hikes, according to a recent survey.Newest figures released by the Australian Finance Group showed that 25 percent of borrowers who refinanced their mortgages...
Continue Reading • 4 Apr 2012
CapitaLand hires Margaret Goh as CEO of Special Projects
CapitaLand, Southeast Asia’s largest property firm, has announced the appointment of Margaret Goh as its CEO of Special Projects with effect from 16 April 2012. “I am pleased to welcome Margaret to the CapitaLand family,” said Liew Mun Leong, President and CEO of...
Continue Reading • 3 Apr 2012
UK remortgage rates to change
Interest rates for remortgages in the UK are expected to change a little amid forecasts that the standard base interest rate of the Bank of England’s Monetary Policy Committee (MPC) will remain unchanged, according to a report. It noted that the weakening economy has caused lenders to...
Continue Reading • 3 Apr 2012
Sellers who back out must pay, say agents
Even when a client backs out from an exclusive agreement to sell a property, some real estate agents are still requesting to get paid for their services. For instance, a prospective seller could engage an agent to do detailed valuations of a home and then arrange for viewings. But the owner...
Continue Reading • 3 Apr 2012
URA revises guidelines for strata landed housing
The Urban Redevelopment Authority (URA) has announced that it will no longer permit developers to build strata landed homes in projects with ‘condominium’ status. According to market watchers, the move will effectively close a loophole which has allowed foreigners to buy strata landed...
Continue Reading • 3 Apr 2012
US mortgage rates may have hit bottom
Consumers still waiting for home loan rates to hit rock bottom may have missed an opportunity. After hitting record lows in February, the average rate for 30-year mortgages climbed above four percent in March, a first since October 2011. Most economists believe that rates will continue to...
Continue Reading • 2 Apr 2012
URA gets new boss
The Urban Redevelopment Authority (URA) has named Peter Ho Hak Ean as its new Chairman. He will take the place of Alan Chan whose term of service ended on 31 March. Ho joined the URA on 1 December 2011 and formerly served as Senior Advisor to the Centre for Strategic Futures and Senior Fellow at...
Continue Reading • 2 Apr 2012
UK mortgage approvals fall to lowest in eight months
Mortgage approvals in the UK fell to its lowest level in eight months, as the poor economic outlook hurt demand for property and banks tightened lending conditions.According to the Bank of England (BoE), lenders approved 48,986 home loans, down from the revised figures of 57,899 in the previous...
Continue Reading • 30 Mar 2012
UEM Land opens first property showcase in Singapore
Malaysian developer UEM Land Holdings Bhd is setting its sights on Singapore after opening its first property showcase outside Malaysia. Datuk Wan Abdullah Wan Ibrahim (pictured), Managing Director and Chief Executive Officer at UEM Land, said “Singapore has been one of the key success...
Continue Reading • 30 Mar 2012
BCA raising building standards with focus on elderly
The Building and Construction Authority (BCA) has announced that it will raise the construction standards of new buildings with the aim to integrate universal design features which are environment-friendly and will help all residents. According to a report by The Straits Times, the revised...
Continue Reading • 30 Mar 2012
US mortgage rates up this week
Average 30-year fixed rate mortgages in the US soared four basis points to 4.10 percent this week, while refinance applications declined 4.6 percent. At the same time, the purchase application volume climbed 3.3 percent over the period, according to latest data by the Mortgage Bankers Association...
Continue Reading • 29 Mar 2012