Economic growth to exceed govt forecast
Europe's debt crisis may be affecting global markets, but private sector economists expect Singapore's 2011 growth to be higher than the government’s forecast, according to The Straits Times.A poll by the Monetary Authority of Singapore (MAS) revealed that the economy will grow 5.2 percent...
Continue Reading • 15 Dec 2011
US mortgage applications edge up
The number of mortgage applications in the US edged up last week, attributed to an increase in refinance applications, according to the latest Weekly Mortgage Applications Survey released by the Mortgage Bankers Association (MBA).It noted that the Market Composite Index of US mortgage...
Continue Reading • 15 Dec 2011
New measures may strike developers' ROEs
The additional stamp duty implemented by the government to rein in the residential property market is expected to weaken developers’ stock prices and return on equity (ROE), according to Craig Irvine, Chief Regional Strategist at DMG & Partners Research.“We believe sentiment is...
Continue Reading • 14 Dec 2011
UK mortgage lending goes up
New mortgage lending in the UK climbed in the third quarter for the first time in three years, said a report.However, the number of foreclosed homes increased slightly, up to 7,316 new cases in Q3, from 7,058 in Q2 2011 and 6,583 in Q3 2010.According to the quarterly Mortgage Lending Report...
Continue Reading • 14 Dec 2011
Minor International wins seven property awards
Minor International has won seven prestigious awards at the Thanachart Bank Thailand Property Awards 2011 for its luxury residential properties in Thailand. One of Thailand’s largest leisure and hospitality companies, Minor International has set a new standard for luxury development in the...
Continue Reading • 14 Dec 2011
UK mortgages at their most affordable since 2004
Mortgages in the UK were at the most affordable level in October since 2004, according to official figures.However, the Council of Mortgage Lenders (CML), noted that the number of available mortgages dropped eight percent in September to 44,500 during the month. This figure was also down five...
Continue Reading • 13 Dec 2011
Straits Trading shifting focus to property
Straits Trading is diversifying its portfolio from industrial metals towards property and hospitality services, according to Channel NewsAsia (CNA).Chew Gek Khim, Executive Chairman of Straits Trading, said that by 2015, she hopes the company will be Asia’s answer to Berkshire Hathaway, a...
Continue Reading • 13 Dec 2011
CEA launches new consumer guide
The Council for Estate Agencies (CEA) yesterday launched its first educational consumer guide on estate agency services.Entitled “Consumer Tips for Engaging a Real Estate Salesperson”, the brochure features helpful references for consumers who wish to employ the services of property...
Continue Reading • 13 Dec 2011
Storefriendly opens first self-storage outlet in S'pore
Storefriendly has launched its first flagship outlet in Singapore at Bukit Batok. As Asia’s largest self-storage network, it boasts an award-winning and revolutionary franchise-based approach to self-storage. The venture is a collaboration between two self-storage industry titans —...
Continue Reading • 12 Dec 2011
Govt defends build and sell ruling
The government has defended its new rule which requires developers to pay a stamp duty of 10 percent if they fail to build and sell all on-site residential units within five years.In answering a query raised by The Straits Times, the Ministry of Finance (MOF) noted that the five-year limit is...
Continue Reading • 12 Dec 2011
Aussie home loans up for 7th consecutive month
The number of mortgages approved in Australia rose for a seventh consecutive month in October, offering hope that the country’s housing market will improve.According to a report by the Australian Bureau of Statistics (ABS), home loans climbed 0.7 percent to 51,981 in October, compared to a...
Continue Reading • 12 Dec 2011
Singapore Real Estate Exchange officially launches
Eleven real estate agencies have joined hands to launch the Singapore Real Estate Exchange (SRX), an online network that will provide transaction details and exclusive property listings in real time.According to Channel NewsAsia, the SRX network will enable agents to access up-to-date information...
Continue Reading • 9 Dec 2011
Local banks brace for drop in home loans
With the introduction of new measures to cool the property market, banks are bracing themselves for slower home loan growth, but unlike property developers and agents, are not in a state of panic. The policy changes will affect mainly foreigners who, according to banks, are not the chief...
Continue Reading • 9 Dec 2011
Citizens of five countries unaffected by new ruling
Citizens of five countries, including the United States and Switzerland, could avoid the newly imposed additional stamp duty when buying private homes in Singapore, due to their free trade deals with Singapore, according to The Straits Times.The report added that similar treatment may also be...
Continue Reading • 9 Dec 2011
New measures to affect en bloc market
The latest government measures will have a major impact on developers acquiring residential land, particularly those involved in collective sales sites.Under the new regulations, property developers who want to avoid paying the 10 percent additional buyer’s stamp duty (ABSD) will have to...
Continue Reading • 9 Dec 2011
14100 potential private homes under GLS 1H2012
The Ministry of National Development (MND) has announced that the GLS Programme for 1H 2012 will comprise 27 reserve list sites and 14 confirmed list sites. The 14 confirmed list sites are allocated for private residential developments, including five executive condominium (EC) sites, translating...
Continue Reading • 8 Dec 2011
US mortgage delinquency expected to decline
Barring another setback in the US economy, TransUnion said mortgage delinquencies in the country should decline significantly by end 2012.According to the credit reporting agency, the mortgage delinquency rate —the ratio of borrowers 60 days or more behind on their payments — will...
Continue Reading • 8 Dec 2011
Singapore to help lead growth in Asia: Savills
Singapore, along with Hong Kong, Macau, Taiwan and Australia, is expected to lead the growth in the Asia Pacific region next year, according to Jeremy Helsby, Chief Executive of property consultancy Savills. He added that Asia will provide almost 50 percent of the global revenue at Savills this...
Continue Reading • 8 Dec 2011
Complaints of misleading property ads on the rise
Complaints about misleading property advertisements have been increasing of late, according to The Straits Times.In a joint statement, the Consumers Association of Singapore (Case) and the Advertising Standards Authority of Singapore (ASAS) said the rising number of complaint cases is attributed...
Continue Reading • 8 Dec 2011
Govt imposes additional tax for private property
The government has implemented additional cooling measures intended to curb excessive investment in the property market.From today, foreigners and corporate entities will have to pay an additional 10 percent ‘Additional Buyers Stamp Duty’ (ABSD) , the government said in a statement...
Continue Reading • 8 Dec 2011