CapitaLand plans mixed use project in China
CapitaLand has unveiled plans to build a 21.1 billion yuan (S$4.1 billion) mixed-use development in Chongqing, despite growing concerns over the possibility of a sharp slowdown in the Chinese property market.Yesterday, CapitaLand and CapitaMalls Asia (CMA) announced they were part of a consortium...
Continue Reading • 30 Nov 2011
Cordea Savills launches London residential fund for Asians
International property fund manager Cordea Savills has launched the Prime London Residential Development Fund to give Asian investors an alternative means of investing in London’s residential market.With a weakening pound and low inflation, more Asian investors, particularly from China,...
Continue Reading • 29 Nov 2011
Aussie mortgage buyers face negative equity concerns
A rising number of Australian home buyers searching for the best loan packages may face growing negative equity concerns. Lisa Montgomery, Chief Executive at Resi Mortgage, revealed that many providers stopped granting 95 percent home loans during the financial crisis, but they have started up...
Continue Reading • 29 Nov 2011
Ascott Reit buys stake in Citadines Shinjuku Tokyo
Ascott Residence Trust (Ascott Reit) has acquired a 60 percent stake in Citadines Shinjuku Tokyo from Mitsubishi Estate Co Ltd and Citadines Shinjuku Ippan Shadan Hojin for S$45.7 million.“The acquisition of Citadines Shinjuku is a rare opportunity to add a quality purpose-built serviced...
Continue Reading • 28 Nov 2011
US mortgage applications rise
Mortgage applications among home buyers in the US have increased on the back of record low mortgage rates. However, there was a 1.2 percent slowdown last week in overall mortgage activity, according to the Mortgage Bankers Association (MBA).The rise in mortgage activity for home purchases,...
Continue Reading • 28 Nov 2011
Singapore, HK developers are overvalued, says report
The latest report from DMG & Partners Research describes property developers in Singapore and Hong Kong as overvalued.“Developer ROEs (return on equity) should fall significantly from 2010 to 2112, and share prices should follow,” said Craig Irvine, Chief Regional Strategist at...
Continue Reading • 28 Nov 2011
Top speakers gather for charity event
Fourteen of Asia’s leading wealth creation and motivational speakers are banding together to raise funds for victims of recent flooding disasters in Thailand, Cambodia and the Philippines. The Learn-A-Thon 2011 will take place today - Monday, November 28, at Kallang Theatre. Entrance to the...
Continue Reading • 28 Nov 2011
HSBC offers lower mortgage rate to first-timers in UK
HSBC is offering a new discounted mortgage rate for first-time home buyers in order to boost the UK housing market.The bank said first-time buyers who can only pay a 10 percent deposit can avail the 3.84 percent two-year discount deal with no payable fee. It claimed that this is the only mortgage...
Continue Reading • 25 Nov 2011
URA launches new building guidelines
The Urban Redevelopment Authority (URA) has put into effect guidelines on the maximum number of dwelling units (DU) for non-landed residential estates and a minimum land plot requirement of 1,000 sq m for flat developments throughout the country.The guidelines will only apply to new applications...
Continue Reading • 25 Nov 2011
Singapore, Malaysia companies encouraged to tap cross-border market
Trade and Industry Minister Lim Hng Kiang has urged Singaporean and Malaysian companies to grab opportunities in both countries to reach a more competitive global position. With the uncertainties in the global economic climate, the two neighbours should find collaborative niches in services and...
Continue Reading • 25 Nov 2011
Singapore mortgage debt comes out tops in Asia
Singapore has the highest level of outstanding mortgage debts compared to other countries in the region, according to the recent semi-annual East Asia and Pacific Economic update released by The World Bank. According to the report, home loans in the city state accounted for 52 percent of its...
Continue Reading • 24 Nov 2011
TA Corp clinches S$271m in building contracts
Newly-listed property firm TA Corporation, through its wholly-owned subsidiary Tiong Aik Construction Pte Ltd, has clinched two new construction deals worth S$271 million from Allgreen Properties and its subsidiary.The first contract is for a proposed condo development at Upper Serangoon Road...
Continue Reading • 24 Nov 2011
REDAS appoints new CEO
The Real Estate Developers' Association of Singapore (REDAS) has appointed Lee Suan Hiang as its new Chief Executive Officer.“With his extensive network and experience, Lee Suan Hiang is eminently qualified,” said REDAS President Wong Heang Fine.“Mr Lee had a distinguished...
Continue Reading • 24 Nov 2011
Far East unveils SOHO brand
Far East Organization (FEO), yesterday unveiled its latest brand, Far East SOHO.Set to redefine SOHO-style living in Singapore, Far East SOHO features a collection of modern SOHO apartments that will cater to the growing demand in Singapore.“As pioneers of Singapore’s first SOHO...
Continue Reading • 24 Nov 2011
Inflation up 5.4% in October
Inflation slowed down slightly in October, registering a year-on-year increase of 5.4 percent last month.However, it continues to remain at a high level, attributed mainly to higher accommodation, private road transport and food costs.According to the Department of Statistics, transport costs...
Continue Reading • 24 Nov 2011
Lease Buyback Scheme to be reviewed
National Development Minister Khaw Boon Wan announced that his ministry will review the Lease Buyback Scheme to include four- and five-room flats.The scheme aims to help lower-income senior citizens in their retirement years, since downgrading may not be feasible due to the high...
Continue Reading • 24 Nov 2011
Thomson residents will get compensation for NSE works
Residents in the Thomson area whose property will be affected by the 5.6 km North-South Expressway (NSE) will receive more assistance, according to a report in The Straits Times.Law Minister K. Shanmugam said affected residents will receive 40 percent of the compensation amount upfront to help...
Continue Reading • 23 Nov 2011
UK mortgage revisions warmly received
Prime Minister David Cameron has announced a taxpayer- and industry-backed insurance scheme that will shield mortgage lenders from defaulting borrowers.The aim is for banks to get smaller deposits on mortgages which will attract more home buyers.Following the financial crisis, mortgage...
Continue Reading • 23 Nov 2011
Quality housing still exists, says DPM Teo
Despite the rising population in Singapore, people can still get quality and affordable housing, according to Deputy Prime Minister Teo Chee Hean.“Even as our city becomes more populated, we can still, with good design and planning, build facilities for our residents,” he said in his...
Continue Reading • 22 Nov 2011
MAS to offer more guidance on Reits
In an effort to boost corporate governance standards, the Monetary Authority of Singapore (MAS) has announced that it will offer further regulatory guidance to the real estate investment trust (Reit) industry.While not highlighting specific companies, MAS made the announcement in response to...
Continue Reading • 22 Nov 2011