Big lenders still dominate Aussie mortgage market
Despite a year-long effort by the Australian government to strengthen competition in the mortgage market, small lenders have not managed to break the dominance of the country’s major banks.In a report by BusinessDaily, the “big four” banks have hardly ceded their market share...
Continue Reading • 4 Jan 2012
MND to release masterplan on underground space this year
The Ministry of National Development (MND) has confirmed that an underground space masterplan is now in the works and will be released this year.The high-level Economic Strategies Committee has named underground space as a strategic resource for land-strapped Singapore.A vast labyrinth of...
Continue Reading • 3 Jan 2012
US mortgage rates to remain low in 2012
The US mortgage market will continue to see low interest rates throughout 2012, according to experts.Although the Federal Reserve has pledged to keep rates low throughout 2012 and 2013, experts said high unemployment levels, as well as declining home prices, may provide little incentive for...
Continue Reading • 3 Jan 2012
Ten Mile Junction station resumes operations
After a one-year closure, the Ten Mile Junction LRT station opens today. SMRT, the rail operator, closed the station when the Ten Mile Junction shopping centre commenced its S$28 million renovations, as the station would be a construction site and therefore, unsafe for commuters. The station...
Continue Reading • 30 Dec 2011
Ministry of Law sets new conveyancing rules
In an attempt to enhance conveyancing transactions, the Ministry of Law has launched new rules to simplify the payment of stamp duties and depositing of monies into conveyancing accounts.Announced on 29 December, these additional rules aim to enhance the measures launched on 1 August to protect...
Continue Reading • 30 Dec 2011
Government identifies new SERS site
Blocks 167 to 172 at Boon Lay Drive comprise the newest site identified by the Singapore government for the Selective En Bloc Redevelopment Scheme (SERS).Consisting of 650 flats, this is the 77th site to benefit from the SERS programme. The HDB will develop some 710 new two- to five-room flats at...
Continue Reading • 30 Dec 2011
Global investor confidence down in December
Global investor confidence dipped slightly in December but a glimpse at individual regions showed that European institutional investors are more upbeat than their Asian and North American counterparts.According to the State Investor Confidence Index for December, which was released by State...
Continue Reading • 30 Dec 2011
Aussie home prices to decline further next year
Mortgage customers in Australia foresee further decline in home prices next year, which may leave many home loan borrowers facing negative equity issues.According to a report by Realty Biz News, several property experts warned that some people on the property ladder may be left “under...
Continue Reading • 30 Dec 2011
New cooling measures may be scrapped if economy worsens
The latest property cooling measures could be removed if the Singapore economy deteriorates or stagnates amid the looming economic downturn, according to analysts.However, if home prices continue to increase despite the new policy, home buyers can expect the measures to remain.According to a...
Continue Reading • 29 Dec 2011
Nomura targeting more home sales
Nomura Real Estate Holdings Inc, the largest real estate developer in Tokyo, plans to boost its home sales by up to 18 percent next year, as declining housing supplies signal a rebound in the Japan housing market.Kamezo Nakai, President of Nomura Real Estate, said in an interview with Bloomberg...
Continue Reading • 29 Dec 2011
New mortgage loans in HK down 8%
New mortgage loans in Hong Kong declined eight percent to HK$10.6 billion (S$1.77 billion) in November, according to data released by the Hong Kong Monetary Authority (HKMA).The data showed that the value of new loans approved last month dropped 4.7 percent to HK$11.9 billion (S$1.99 billion),...
Continue Reading • 29 Dec 2011
More land to be provided for EC sites next year
More land will be allotted for executive condominiums (ECs) in 2012, said the Ministry of National Development (MND), noting that it is prepared to provide sites for 5,000 EC units next year.This move comes after the government had committed to help more higher-income Singaporeans own private...
Continue Reading • 28 Dec 2011
US mortgage delinquencies to slide further next year
Mortgage delinquency rates in the US are predicted to decline in the last three quarters of next year, after hitting a high of 6.02 percent in the first quarter of 2011, according to TransUnion.The global information management services firm noted that mortgage loan delinquencies are expected to...
Continue Reading • 28 Dec 2011
REDAS, government air views over latest measures
Deeply divergent views from the government and developers regarding the recent property cooling measures were aired at the Real Estate Developers Association of Singapore’s (REDAS) 52nd anniversary dinner.The event was the first public function for the industry after the Singapore...
Continue Reading • 28 Dec 2011
Blumont Group cancels planned acquisition of Heritage Residences
Investment holding company Blumont Group Ltd announced that its wholly-owned subsidiary, Raintree Rock Sdn Bhd, has agreed with Bluwater Developments Bhd to terminate the planned acquisition of the latter’s Heritage Residences, a serviced residence development in Selangor, Malaysia.The...
Continue Reading • 28 Dec 2011
Priority to be given to second-time home buyers next year
Second-time home buyers might get their new homes sooner next year, as Minister for National Development Khaw Boon Wan announced his intention to help this group of buyers, according to an AsiaOne report.The minister noted that last year, first-time home buyers were given priority in getting...
Continue Reading • 27 Dec 2011
REDAS, stakeholders assess cooling measures
Looking into the impact of the latest round of property cooling measures, the Real Estate Developers’ Association of Singapore (REDAS) has engaged in series of meetings with various industry players, according to The Business Times. REDAS met recently with stakeholders such as property...
Continue Reading • 27 Dec 2011
Inflation figures grow higher than expected
Ending the generally gloomy economic year, inflation for November has reached higher levels than expected, amid deepening concerns over slow economic growth, according to the Straits Times.Exceeding market expectations of 5.3 percent, the report noted that consumer prices surged by 5.7 percent...
Continue Reading • 27 Dec 2011
CapitaLand completes acquisition of Indian company
CapitaLand, Southeast Asia’s largest property group, announced that it has completed the acquisition of the remaining 60 percent interest in Rattha Somerset Whitefield Hospitality Private Ltd, which owns a site in Bangalore that will be developed into new serviced residences.The acquisition...
Continue Reading • 27 Dec 2011
US mortgage interest rates hit new low
The average rates on 30-year fixed mortgages in the US hit a new low of 3.91 percent last week, down from 3.94 percent in the preceding week, according to Freddie Mac.It added that average rate of 15-year fixed mortgages remained at its record low of 3.21 percent, compared with 4.15 percent a...
Continue Reading • 27 Dec 2011