Selling Nassim Hill units is hard work for BBR
The Nassim Hill condominium, located in an exclusive neighbourhood close to the Orchard Road shopping belt, features 16 luxury triplex apartments that boast private rooftop pools and gardens.In contrast to the strong demand expected for luxury homes, developer BBR Holdings Ltd is struggling with...
Continue Reading • 1 Feb 2012
UK mortgage approvals hit 2-year high in December
The number of mortgage approvals in the UK jumped to a two-year high in December 2011, said the Bank of England (BoE), but experts stressed that lending remains historically low.According to a report, the number of home loans given out hit 52,939 in December last year, from 52,628 in the previous...
Continue Reading • 1 Feb 2012
China's property loan growth slows in 2011
The balance of financial institutions’ yuan-denominated loans increased 15.8 percent year-on-year to 54.79 trillion yuan (S$10.89 trillion) last year, of which new loans accounted for 7.47 trillion yuan (S$1.48 trillion), according to the Peoples’ Bank of China.Total loans granted to...
Continue Reading • 31 Jan 2012
CEA to further improve industry standards
The Council for Estate Agencies (CEA) will continue to take steps to enhance industry standards as well as protect consumers, wrote Minister for National Development Khaw Boon Wan in his latest blog post.“We set up the Council for Estate Agencies (CEA) to raise the professionalism of the...
Continue Reading • 31 Jan 2012
Fewer real estate agents in Singapore
Singapore’s Council for Estate Agents (CEA) has revealed data which shows an above-10 percent drop in the number of registered real estate agents and salespersons in the country.As at 1 January 2012, the CEA had licensed 1,487 estate agents and registered 30,577 salespersons. Out of the...
Continue Reading • 30 Jan 2012
URA gives green light to new projects
The Urban Redevelopment Authority (URA) conferred provisional permission to a number of commercial, industrial and residential projects in Q4 2011, according to The Business Times.Among the projects is a 670-room hotel on Orchard Road by Yat Yuen Hong, a unit of Hong Fok Corporation, which also...
Continue Reading • 30 Jan 2012
Aussie home loan customers call for planning changes
Aussie home loan customers believe that independent experts should have the final decision on new housing developments in New South Wales (NSW), rather than council members, according to research conducted by Auspoll.Carried out on behalf of the Property Council of Australia, the research...
Continue Reading • 30 Jan 2012
US mortgage applications fall as interest rates rebound
Mortgage applications in the US decreased, owing to a rebound in interest rates from record lows, according to the latest Weekly Mortgage Applications Survey released by the Mortgage Bankers Association (MBA).The Market Composite Index of US mortgage applications, which are a gauge of mortgage...
Continue Reading • 27 Jan 2012
Ascott Reit divests Aussie property for S$15.6m
Ascott Residence Trust (Ascott Reit) has entered into a conditional sale and purchase agreement for the divestment of Somerset Gordon Heights Melbourne at an agreed price of around A$11.7 million (S$15.6 million).Lim Jit Poh, Chairman of Ascott Residence Trust Management Ltd (ARTML), the manager...
Continue Reading • 27 Jan 2012
Prefab housing plants to reduce foreign manpower: Khaw
In National Development Minister Khaw Boon Wan’s latest blog entry, he highlights the need for more foreign construction workers to build the planned 25,000 BTO flats for this year. In addition to the earlier BTO projects which are still in progress, an estimated 30,000 construction...
Continue Reading • 27 Jan 2012
Lacklustre earnings expected as economy slows
Analysts are expecting gloomy figures when companies post their results, with many predicting that the cooling economy will affect their net earnings.According to forecasts, profit increases may be less common than the previous year, and any increase would be muted at best.“We expect...
Continue Reading • 26 Jan 2012
Aussie mortgage lenders urged to boost capital levels
Australia's major mortgage lenders have been advised to increase their capital stocks as a safety measure should the property industry crash.A stress test conducted by the International Monetary Fund (IMF) on the country’s major banks revealed that a downturn in the property market could be...
Continue Reading • 26 Jan 2012
Hike in UK mortgage fees
The average mortgage fee in the UK increased by around £600 (S$1,185.57) in 2011, with home buyers holding larger deposits facing the steepest increase, according to comparison website Moneyfacts.The usual mortgage arrangement fee is £1,498 (S$2,959.97), up from last year’s...
Continue Reading • 25 Jan 2012
Ascott Residence Trust to see flat growth in S'pore: DBS
DBS has warned that Ascott Residence Trust (ART) will face flat growth in Singapore, and cited countries like the Philippines, Malaysia and Australia as destinations that will see continued growth.The trust’s gross profit and revenue grew two and three percent to S$40.0 million and S$75.2...
Continue Reading • 25 Jan 2012
Collective sales fever goes down: Khaw
Singapore’s property market has showed signs of stabilising and the collective sales fever is now receding, according to National Development Minister Khaw Boon Wan in his latest blog post.“En-bloc activities reached feverish heights in 2006 and 2007, when some 10,200 housing units...
Continue Reading • 25 Jan 2012
Ascott Reit DPU slides 15%
Costs incurred for one-off events in the fourth quarter pulled down Ascott Residence Trust’s distribution per unit (DPU) by 15 percent over a year ago, down eight percent from the trust manager's forecast.This year, “we expect operating performance of our properties to improve over...
Continue Reading • 25 Jan 2012
Inflation in Asia to fall, then rise
Although inflation in Asia will rapidly decline within the next six months, prices will pick up speed again by year-end, according to Michael Spencer, Chief Economist for Asia at Deutsche Bank.With crude oil prices moving sideways and food prices tumbling, worries may switch to global deflation...
Continue Reading • 20 Jan 2012
US mortgage rates at new low
The average rate of the 30-year fixed mortgage in the US hit a new low this week, dropping to 3.88 percent from 3.89 percent a week ago, according to data released by Freddie Mac.This is the seventh consecutive week in which the rate has stayed below four percent.Meanwhile, the average 15-year...
Continue Reading • 20 Jan 2012
Limit certain buyers from resale HDB market: analyst
One way cash-over-valuation (COVs) can be lowered is if the government limits private homeowners and second-time buyers from acquiring resale HDB flats, according to Tejaswi Chunduri, PropertyGuru's real estate analyst.Her comments come after Minister for National Development, Khaw Boon Wan,...
Continue Reading • 19 Jan 2012
Annual yields in property stamp duty hit S$2b
Some S$2 billion in stamp duty from property transactions is collected by the government annually.According to Josephine Teo, Minister of State for Finance, a total of S$10.87 billion in stamp duty has been collected from the sale and purchase of properties within the last five financial years,...
Continue Reading • 19 Jan 2012