PropertyGuru appoints three more heavy hitters
PropertyGuru, the number one property portal in Asia, has appointed three industry heavyweights to key regional positions within the company.The new senior hires include Douglas Gan, ‘Strategy Guru’, Andrew Batt, Regional Group Editor (pictured) and Sarah Baker, Regional Head of...
Continue Reading • 23 Dec 2011
S'pore construction sector expected to slow in 2012
Following two years of a construction boom and the recent government measures to curb property prices, OCBC expects the pace of construction demand to slow next year, according to a report by Singapore Business Review. However, OCBC noted that the slowdown will likely pick up from demand in the...
Continue Reading • 23 Dec 2011
CapitaLand gains majority stake in Vietnamese tower
CapitaLand, Southeast Asia’s largest property firm, announced that its wholly-owned subsidiary, Vibrant Coral Overseas Inc, has completed the acquisition of a 90 percent stake in Somerset Central TD Company Ltd (SCCL) in Vietnam.SCCL owns a tower of an existing integrated development in Hai...
Continue Reading • 23 Dec 2011
US mortgage rates hit another record low
Mortgage rates in the US hit another record low, with the average rate of 30-year fixed loans standing at 3.91 percent this week, down from 3.94 percent last week, according to the Primary Mortgage Market Survey released by Freddie Mac.Frank Nothaft, Chief Economist at Freddie Mac, said rates...
Continue Reading • 23 Dec 2011
City Developments faces challenges ahead: OCBC
With the predicted slowdown in housing demand next year, three high-profile City Developments (CDL) projects face roll-out problems. OCBC believes the developer will pause before it launches Nouvel, an EC in Choa Chu Kang and the Lucky Tower redevelopment next year.The slew of price falls and...
Continue Reading • 22 Dec 2011
Keppel Land under pressure on China market uncertainty
As China’s housing restrictions and the fallout of prices hurt the profitability of Keppel Land’s (KPLD) approximately 7,000 home portfolio in 2012, the developer will be caught between two strategies — either slash prices or accept slower sales, according to OCBC.This...
Continue Reading • 22 Dec 2011
Fewer Aussie buyers defaulting
Fewer Australians are defaulting on their mortgage obligations, despite the bleak global economic outlook.The number of homeowners that failed to pay their loan instalments on time dropped across the country for September, down by nearly a quarter since March, according to the latest Fitch...
Continue Reading • 22 Dec 2011
Office leasing market subdued: Savills
The office leasing market in Singapore has been subdued in the last couple of months as a result of softening demand and cautious market sentiment, according to the latest Savills office market report.“Negative fallout arising from the prolonged financial turbulence and global economic...
Continue Reading • 21 Dec 2011
S'poreans less confident about economy
Singaporeans are gradually becoming more concerned about the condition of the economy and will probably tighten their belts further in the coming year, according to the latest Aviva Consumer Attitudes to Savings (CAS) study.The study, which polled around 1,000 Singaporeans, revealed that 32...
Continue Reading • 21 Dec 2011
Asian developers get big share of Aussie market
Overseas developers such as Fraser & Neave Ltd and Far East Consortium International Ltd have been developing the most number of residential projects in Australia over the last two decades, as they seek geographic diversity and stable demand for properties, according to CBRE.Currently owning...
Continue Reading • 21 Dec 2011
US mortgage debt sees sharp rise
Mortgage debt in the US rose sharply in November and default rates climbed to 2.17 percent, according to the latest Standard & Poor's/Experian indices.The index showed that the mortgage default rate stood at 2.08 percent in October compared with 3.06 percent a year ago. Second mortgage...
Continue Reading • 21 Dec 2011
Lower premiums for Home Protection Scheme next year
Starting 1 January 2012, HDB flat owners under the Central Provident Fund (CPF) Board's Home Protection Scheme (HPS) will enjoy 12 percent savings on their premiums.Minister of State for Manpower and National Development, Tan Chuan-Jin, said on his Facebook page that the move will benefit 80...
Continue Reading • 21 Dec 2011
Tiong Seng secures S$151m residential contract
Construction firm Tiong Seng Holdings Limited announced that its unit, Tiong Seng Contractors (Pte) Ltd, has inked a S$151 million deal for The Luxurie, a prime residential project.Under the contract, the firm will develop the 17,700 sq m site with a permissible gross floor area (GFA) of 53,100...
Continue Reading • 20 Dec 2011
Australian mortgage stress declines
Mortgage stress across Australia slid for six months to 30 September, as borrowers adapted to a period of stable interest rates. For the first time since November 2010, the Reserve Bank of Australia reduced interest rates in November and December. Within the period, mortgage delinquencies dropped...
Continue Reading • 20 Dec 2011
New measures to affect M'sian banks
The latest round of property cooling measures will likely affect Malaysia’s loans growth, especially banks with exposure to Singapore's retail market, according to The Borneo Post.Although the new rule will not significantly affect total loans of local banks, players like Malayan Banking...
Continue Reading • 20 Dec 2011
Analyst says new measures to stay for good
The additional buyer’s stamp duty could become a permanent fixture in the residential property market even after prices cool, according to Bank of America Merrill Lynch.Chua Hak Bin, an economist at the bank, said cooling measures implemented in 1996 to differentiate between local and...
Continue Reading • 19 Dec 2011
UK mortgage borrowers face tougher checks
Home buyers in the UK are now facing much tougher checks under new rules by the Financial Services Authority (FSA) to prevent more risky lending.Under the latest regulations, lenders are required to verify the income of every borrower through tougher affordability checks.Borrowers are also not...
Continue Reading • 19 Dec 2011
Big wins for SE Asia at International Property Awards
Property companies throughout South East Asia collected prestigious awards at the International Property Awards in London this week.The annual awards, produced in association with Bloomberg Television and Google, are open to residential and commercial property professionals from around the globe....
Continue Reading • 16 Dec 2011
UK mortgage arrears to climb further in 2012
Rising unemployment in the UK and increasing pressure on household budgets will likely lead to more borrowers falling behind on their mortgages and properties being repossessed next year, according to a new forecast released by the Council of Mortgage Lenders (CML).The agency said that...
Continue Reading • 16 Dec 2011
En bloc deal ends in lawsuit
A small property agency, which was initially appointed to handle an en bloc sale in Sophia Road but was later advised to drop it, is suing the homeowners for alleged defamation.According to the Isabel Redrup Agency, it is entitled to a sales commission, as it helped broker a S$30.8 million sale...
Continue Reading • 16 Dec 2011