Global Logistic and FNN to shine this year, says bank
Developers with low reliance on development income and a high proportion of rental income will likely stand out, according to Bank of America Merill Lynch.“We expect stocks with superior earnings visibility to outperform given the challenging macro environment in 2012,” it said.Global...
Continue Reading • 13 Jan 2012
Mixed reactions over additional tax ruling
Everyone, from property industry professionals to home buyers, were caught off guard when the government announced the latest cooling measures, with many analysts and developers stating that they were unexpected and the harshest they have seen by far.“At first glance, these latest cooling...
Continue Reading • 13 Jan 2012
HK home loans down after new adjustment
The amount of loans under Hong Kong Mortgage Corporation’s (HKMC) mortgage-insurance plan fell 36 percent in 2011 from a year ago, after it adjusted the programme to ensure that banks did not over-lend.The volume of new loans drawn dropped to HK$26.3 billion (S$4.37 billion), making it more...
Continue Reading • 12 Jan 2012
UK mortgage availability to stay limited in Q1
UK mortgage lending in the first quarter of this year will remain restricted, according to the latest Credit Conditions Survey by the Bank of England.Many lenders have already revised their expectations on the household income of potential borrowers and revealed that they will impose stricter...
Continue Reading • 11 Jan 2012
PropertyGuru reports outstanding results for 2011
Asia’s leading property portal group, PropertyGuru, has extended its market leadership position in its core markets, with revenue, agents and traffic continuing to grow rapidly, ahead of expectations.PropertyGuru’s revenue grew over 60 percent year-on-year, while property agent...
Continue Reading • 11 Jan 2012
CDL most exposed to volatile residential market
With a historic landmark of 5.4 million sq ft, City Developments Ltd (CDL) has the highest exposure to the Singapore residential market, according to Bank of America Merill Lynch.Meanwhile, Fraser & Neave and UOL have the highest mass-market residential exposure, with 1.81 million sq ft and...
Continue Reading • 11 Jan 2012
Jones Lang, Blake Dawson launch Asia-Pac real estate guide
Global property services firm Jones Lang LaSalle (JLL), in partnership with law firm Blake Dawson, has launched the Asia Pacific Property Investment Guide 2012, a comprehensive guide on the operation of real estate markets across Asia Pacific. The guide, now in its second edition, discusses the...
Continue Reading • 11 Jan 2012
Govt to provide more funds for HDB upgrading
The government will allocate more funds to the Home Improvement Programme (HIP), which upgrades HDB flats built before 1987 with repairs such as fixing spalling concrete and upgrading the toilets.According to Lee Yi Shyan, Minister of State for National Development, the government is accelerating...
Continue Reading • 10 Jan 2012
KSH snags Seastrand contract worth S$110m
KSH Holdings Limited, an established property developer and management group, has successfully clinched a S$110.28 million contract for the development of the Seastrand condominium project in Pasir Ris.Under the contract, KSH will build seven 11-storey and two 12-storey residential blocks with a...
Continue Reading • 10 Jan 2012
Aussie mortgages up in November
The number of Australians taking up home loans climbed in November last year, according to new figures released by the Housing Industry Association (HIA).It said that property sales rose 6.8 percent in November, as more people took advantage of interest rate cuts authorised by the Reserve Bank of...
Continue Reading • 10 Jan 2012
Mortgage modification scams trap US homeowners
The foreclosure crisis that has spread across the US is creating another epidemic — mortgage modification scams that cost borrowers thousands of dollars.“There are devastating consequences to this fraud,” noted Christy Romero, Deputy Special Inspector General who oversees...
Continue Reading • 9 Jan 2012
More estates to become elderly-friendly
Three estates — Bedok, Taman Jurong and Whampoa — will join Marine Parade in being retrofitted to make them elderly-friendly, with the development process for these estates being fast-tracked.The towns, which are among those housing Singapore’s most elderly, will be at the...
Continue Reading • 9 Jan 2012
PropertyGuru inks content sharing agreement with REIDIN
Asia’s leading property portal, PropertyGuru.com, has signed an editorial content sharing agreement with premier real estate information company on emerging markets, REIDIN.com, to educate influential property investors around the world. Under the agreement, PropertyGuru and REIDIN...
Continue Reading • 9 Jan 2012
S'pore-M'sia land swop areas to commence devt next year
Work to develop two land sites in Marina South and Ophir-Rochor, the result of the land swop deal between Singapore and Malaysia, is expected to commence next year.The S$11 billion developments — comprising apartments, offices, shops and hotels spread across 501,020 sq m of land in two main...
Continue Reading • 6 Jan 2012
SOR rate in S'pore continues to rise
The benchmark interest rate in Singapore, which determines the amount homeowners must pay on their mortgage obligations, has continued to rise and may even climb further.Borrowers may face hundreds of dollars a month in additional repayments, as the Swap Offer Rate (SOR) steadily increases.On 5...
Continue Reading • 6 Jan 2012
CDL China acquires another site in Chongqing
CDL China Limited (CDL China), a wholly-owned subsidiary and the China unit of property developer City Developments Limited (CDL), has acquired its third site in Chongqing, with a permissible gross floor area (GFA) of 1.2 million sq ft.Located in the heart of the Yuzhong District in Chongqing,...
Continue Reading • 6 Jan 2012
UK mortgage approvals up in November
The number of new mortgage approvals in the UK surged to its highest level in November, but overall lending remained weak, according to data released by the Bank of England.It indicated that 52,854 new home loans were approved in November, up from 52,786 approvals in the previous month....
Continue Reading • 5 Jan 2012
Property, foreign worker curbs here to stay
The latest property curbs along with the tightened foreign worker policy are here to stay, as the Singapore government is now trying to increase productivity instead of the country’s population in order to drive growth, according to Bank of America Merrill Lynch economist Chua Hak Bin.Chua...
Continue Reading • 5 Jan 2012
Yoma plans expansion into Myanmar
Singapore-listed property developer Yoma Strategic Holdings has announced plans to acquire the rights to develop an area called Star City, located six miles from Yangon in Myanmar.According to a report by The Business Times, the group had earlier said that its wholly-owned unit had signed a first...
Continue Reading • 4 Jan 2012
S'pore economy contracted by 4.9% in Q4
Singapore's economy contracted by 4.9 percent quarter-on-quarter in Q4 2011, affected by the sharp decline in manufacturing, as the Eurozone economic slowdown hurt demand for Asian exports.According to the Ministry of Trade and Industry (MTI), the country’s GDP dropped 4.9 percent on a...
Continue Reading • 4 Jan 2012