S'pore the 6th most expensive Asian city
Singapore has jumped two notches this year to become the sixth most expensive city in Asia, according to the latest Cost of Living Survey by ECA International.The survey also showed that Singapore, for the first time in at least 10 years, is deemed more expensive than Hong Kong, which slipped...
Continue Reading • 7 Dec 2011
UK mortgage approvals on the rise
The number of mortgage approvals in the UK for July 2011 indicated a renewed interest in the real estate market.While mortgage lending in August rose six percent, experts believe this was due to mortgage providers such as the Post Office and Nationwide cutting rates on a range of fixed rate...
Continue Reading • 7 Dec 2011
Global crisis to slow Singapore's growth: PM Lee
Prime Minister Lee Hsien Loong has outlined how Singapore intends to create jobs and augment incomes as it enters a period of slower economic growth. Speaking at the NTUC’s National Delegates’ Conference yesterday, PM Lee said the tripartite partnership among the government,...
Continue Reading • 7 Dec 2011
CapitaLand to spin-off China projects
CapitaLand, the largest property developer in Southeast Asia, plans to spin off its Chinese projects into two mainland-listed real estate investment trusts (Reits) upon approval of the Reits' listing, according to Liew Mun Leong, President and CEO of CapitaLand.Developers are waiting for...
Continue Reading • 6 Dec 2011
Aussie mortgage applications up
The Australian Finance Group (AFG), Australia’s biggest mortgage firm, has recorded an 18.4 percent increase in mortgage applications in November, worth approximately A$2.9 billion (S$3.8 billion).The firm said investors were encouraged by the interest rate cut implemented by the central...
Continue Reading • 6 Dec 2011
UE E&C clinches building contracts worth S$183m
UE E&C has secured two contracts worth S$183 million to build an executive condominium (EC) in Pasir Ris and the National Continuing Education & Training (CET) Campus in Paya Lebar Central, according to The Business Times.To be built at the junction of Pasir Ris Drive 3 and Pasir Ris...
Continue Reading • 6 Dec 2011
Malaysia Property Showcase debut a success
Last weekend’s Malaysia Property Showcase organised by PropertyGuru was a huge success, with six Malaysian developers — Andaman Group, Ireka Corporation Bhd, Lone Pine Group, Sime Darby Property, The Haven Sdn Bhd and UEM Land — taking part in the event.“The event was a...
Continue Reading • 5 Dec 2011
US fixed mortgage rates remain low
Fixed mortgage rates in the United States remained unchanged this week, reflecting the lowest rate on record for the fifth consecutive week, according to Freddie Mac’s Primary Mortgage Market Survey.The mortgage lender said that 30-year fixed-rate mortgages (FRM) stood at four percent for...
Continue Reading • 5 Dec 2011
Two HK banks raise mortgage rates
Two local lenders in Hong Kong have lifted their mortgage rates for the sixth time this year, raising rates by as much as 0.7 percentage points, according to The Standard.BOC Hong Kong said the new rates, which will be offered at between 2.5 and three percent, will be imposed starting today. The...
Continue Reading • 2 Dec 2011
MOF is looking for public feedback
The Ministry of Finance (MOF) has launched the Budget 2012 website with a feedback exercise encouraging suggestions on issues regarding taxes and public spending for next year’s budget. The MOF exercise, in partnership with Reach, welcomes comments through new media platforms such as...
Continue Reading • 2 Dec 2011
Conflicts of interest in S-Reits market
The call for reform in Singapore’s real estate investment trusts (Reits) market has taken on fresh urgency, as concerns resurface regarding the potential conflict of interest when Reits purchase assets from their sponsors.According to The Business Times, this comes after the Monetary...
Continue Reading • 2 Dec 2011
Sengkang Hospital to be completed in 2018
To meet growing public healthcare needs, Sengkang Hospital will be completed in 2018, two years ahead of schedule, according to the Health Minister. This is in line with the Ministry of Health’s (MOH) efforts to speed up the building of new hospitals and add hospital beds to bring...
Continue Reading • 2 Dec 2011
DTZ's Chua Chor Hoon promoted to new role
DTZ has appointed Chua Chor Hoon as its new Head of Asia Pacific Research. Prior to her appointment, Chua served as DTZ’s Head of Southeast Asia Research and has been at DTZ for almost four years, bringing more than 20 years of real estate experience to her new post.“Chor Hoon...
Continue Reading • 1 Dec 2011
URA working on new rules for advertisements
The Urban Redevelopment Authority (URA) is working on new rules to give home buyers more confidence when acquiring units, while ensuring that developers are more transparent, according to a report in The Straits Times.The regulations cover several different aspects of home buying, from showflat...
Continue Reading • 1 Dec 2011
S'pore developers win big at 2011 South East Asia Property Awards
Singapore-based property developers and projects clinched a record eight awards at last night’s 2011 South East Asia Property Awards.Far East Organization (FEO) secured two major awards for Best Developer in Singapore and also in Southeast Asia.Nassim Park Residences, a condo development by...
Continue Reading • 1 Dec 2011
PropertyGuru to showcase Malaysian homes in Singapore
With many Singaporeans making Malaysia their top choice for overseas property investments, Asia’s leading property portal group, PropertyGuru, decided to bring in a number of top Malaysian developers to showcase their most sought-after property developments in Malaysia.To be held this...
Continue Reading • 1 Dec 2011
Aussie buyers urged to act fast after home prices drop
Home buyers in Australia should secure mortgages as soon as possible, as property prices across the country have dropped significantly.According to new statistics published by RP Data and Rismark, home values in Brisbane have fallen sharply, declining by as much as eight percent in the 12 months...
Continue Reading • 1 Dec 2011
US underwater mortgages down in Q3
The number of US home owners suffering underwater mortgages dropped slightly in the third quarter, although the levels remained high, said CoreLogic.According to the data analysis firm, the number of negative equity (the amount owed on the mortgage which exceeds the properties’ current...
Continue Reading • 30 Nov 2011
Wee Hur, Lian Beng clinch multi-million dollar HDB contracts
Wee Hur Holdings and Lian Beng Group Ltd have been awarded separate Housing Development Board (HDB) contracts worth a total of S$172.5 million.The Wee Hur contract, worth S$159.3 million, will see the construction of eight residential blocks and a basement parking lot, as well as communal...
Continue Reading • 30 Nov 2011
Singapore is world's 8th safest city
Singapore has been ranked the world’s eighth safest city according to the Mercer 2011 Quality of Living Survey, also making it onto the list of the top 25 cities with the highest quality of living.Luxembourg was ranked the world’s safest city, while Vienna ranked first for quality of...
Continue Reading • 30 Nov 2011