Record nominations for CBRE
In its first year of taking a regional approach to the Asia Pacific Property Awards, part of the International Property Awards, CBRE has won awards in every major market throughout the region.In Australia, China, Hong Kong, India, Japan, the Philippines, New Zealand, Singapore, Taiwan, Thailand...
Continue Reading • 28 Mar 2012
Profitable Plots directors held on cheating charges
Three Profitable Plots directors have been charged with 86 criminal counts of cheating investors of US$2.4 million (S$3.017 million) on investments for an industrial lubricant called Boron, according to The Business Times. The charged were named as John Andrew Nordmann, Geraldine Anthony...
Continue Reading • 28 Mar 2012
Mortgage pain hits Aussie housing market
Homeowners and property developers in Australia have felt the ill effects of deteriorating conditions in the residential property market, which have triggered a rise in profit warnings and mortgage arrears.According to credit ratings agency Fitch, late payments on home loans soared unexpectedly...
Continue Reading • 28 Mar 2012
HK mortgage loans drawn-down up 25.8%
New drawn-down mortgage loans in Hong Kong hit HK$7.6 billion (S$1.23 billion) last month, up 25.8 percent from January, according to data from the Hong Kong Monetary Authority (HKMA).It noted that the value of new loans approved last month rose 44.1 percent to HK$14.4 billion (S$2.33 billion)....
Continue Reading • 27 Mar 2012
Keppel Land penetrates Beijing market
Keppel Land, the property arm of Keppel Group, has finally penetrated into Beijing’s commercial market with the acquisition of its first commercial development that sits on a 2.6-ha site in the city’s CBD.With a gross floor area (GFA) of about 100,000 sq m, the site is set to feature...
Continue Reading • 27 Mar 2012
PropertyGuru statement on HDB resale story
PropertyGuru published a story headlined “HDB flats are more unaffordable than private homes” online on March 22nd and in print the next day. Following publication, HDB issued a response in which it claimed our story was “misleading” and based on a “simplistic...
Continue Reading • 27 Mar 2012
Top US lender to test new mortgage plan
Bank of America (BofA), one of the largest lenders in the US, will be testing a new foreclosure-avoidance programme called ‘mortgage-to-lease’.BofA will send proposals later this month to nearly 1,000 mortgage customers in New York, Arizona and Nevada. If the result is positive, the...
Continue Reading • 26 Mar 2012
US fixed-rate mortgages up slightly
Average 30-year fixed-rate mortgages in the US edged up four percent for the first time since October last year, according to a new report.However, the increase is not expected to affect a rebound in the US residential market.Mortgage lender Freddie Mac said the average rate on 30-year fixed...
Continue Reading • 23 Mar 2012
UK home loans set to decline
The demand for home loans in the UK is expected to decline after the end of the stamp duty holiday, with many calling for an extension to help boost purchases following the announcement of an increase in mortgage packages offered by lenders.Borrowers could save on the stamp duty for two years if...
Continue Reading • 22 Mar 2012
New York awarded Lee Kuan Yew World City Prize 2012
In recognition of New York City’s remarkable transformation, rising above the difficulties of the post-September 11 period, the city has bagged this year’s Lee Kuan Yew World City Prize.The award, which was accepted by New York Mayor Michael Bloomberg (pictured) and the Departments of...
Continue Reading • 22 Mar 2012
Major Chinese banks relax mortgage rates for first-timers
Major banks in China have started to lower mortgage rates for first-time home buyers, following a year of hovering above the benchmark lending rate.Aside from the Industrial and Commercial Bank of China, large banks such as the China Construction Bank, Bank of Communications and Bank of China,...
Continue Reading • 21 Mar 2012
ARA Asset eyeing yuan IPO in Singapore
ARA Asset Management, which is partly owned by Li Ka-shing’s Cheung Kong Holdings Ltd, is eyeing Singapore’s first yuan-denominated initial public offering (IPO), according to three persons with knowledge of the matter. Property trust manager ARA has appointed Standard Chartered, DBS...
Continue Reading • 21 Mar 2012
More Aussies considering fixed-rate mortgage deals
More Australian homeowners are considering fixed-rate mortgages given the unpredictable direction of interest rates, according to a survey.The study done by mortgage broker Loan Market revealed that 60 percent of respondents are eyeing fixed-rate mortgages because they are unsure whether banks...
Continue Reading • 20 Mar 2012
LTA unveils plans for Bukit Brown road project
The Land Transport Authority (LTA) has announced its final plans for a new road that will pass through the Bukit Brown Cemetery (pictured). It shows that the LTA will minimise land take and impact to the surrounding environment.Announced in September last year, the road will be built to minimise...
Continue Reading • 20 Mar 2012
More American seniors using reverse mortgages
More seniors in the US are getting reverse mortgages on their properties at an earlier age, in order to survive.A study revealed that since 1999, the percentage of people aged between 62 and 64 applying for reverse mortgages climbed 15 percent. The reason for the significant upswing among...
Continue Reading • 19 Mar 2012
Ascott launches green effort
The Ascott Ltd (Ascott) has embarked on a global sustainability drive with the launch of Go Green @ Ascott, as the company strives to become the world’s leading green serviced residence company.Beacon signage lights, biodegradable laundry bags, the use of recycling bins and the installation...
Continue Reading • 19 Mar 2012
CapitaLand still bullish on China investments
CapitaLand, one of Asia’s largest real estate companies, continues to be bullish on investments in China despite the dismissal of Bo Xilai, the charismatic but controversial Communist Party Chief of Chongqing.Liew Mun Leong, President and CEO of CapitaLand Group (pictured) believes there is...
Continue Reading • 17 Mar 2012
Qingjian Realty plans IPO in Singapore
Chinese developer Qingjian Realty plans to conduct its first initial public offering (IPO) in Singapore next year and raise up to S$500 million, according to The Straits Times.Possibly the first Chinese developer to list itself in the country, Qingjian Realty is eyeing Singapore as a springboard...
Continue Reading • 16 Mar 2012
Tony Koe appointed Executive Director of SLP International
Leading property firm SLP International Property Consultants Pte Ltd has announced the appointment of its new Executive Director, Tony Koe (pictured), in line with its goal of expanding the company’s residential ventures in Singapore, Indonesia and China. Koe previously served as General...
Continue Reading • 16 Mar 2012
UK home-buying cheaper than renting
The cost of mortgages in 42 out of the top 50 cities and towns in Great Britain are cheaper than renting, reported property website Zoopla.co.uk. However, this figure is slightly lower than three months ago when it was 47 out of 50 cities and towns.In spite of the slight fall, buying continues to...
Continue Reading • 16 Mar 2012