S'pore households more resilient to economic crisis
Singaporean households are more resilient and can weather the uncertain global economy.The Monetary Authority of Singapore (MAS), in its Financial Stability Review for November, revealed that household capital was driven by rising property prices. The “broad-based growth of the...
Continue Reading • 22 Nov 2011
The Ascott wins contracts to manage China properties
The Ascott Limited, the serviced residence division of CapitaLand, has secured contracts to manage two properties in China. The properties include the 71-unit Somerset Victoria Park Hong Kong and the 186-unit Ascott M-City Foshan, which will open in 2013 and 2016 respectively.Lim Ming Yan,...
Continue Reading • 22 Nov 2011
Australia's central bank happy with current mortgage rates
A top executive from the Reserve Bank of Australia (RBA) noted that the central bank is satisfied with the current level of mortgage rates.In a recently concluded securitisation conference, Guy Debelle, Assistant Governor of the RBA, who was asked about the central bank’s position on...
Continue Reading • 22 Nov 2011
S'pore home loans feel impact of cooling measures
The number of new housing loans and property deals in Singapore declined after the last round of cooling measures implemented in January this year, according to the Monetary Authority of Singapore (MAS).The MAS’ latest Financial Stability Review report showed that new housing loans dropped...
Continue Reading • 21 Nov 2011
Singapore economy rose 6.1% on manufacturing boom
Singapore’s economy is expected to grow by approximately five percent for the rest of 2011 and between one and three percent in 2012, in light of the uncertain global economy, according to the Ministry of Trade and Industry (MTI). In the three months leading to September, the economy grew...
Continue Reading • 21 Nov 2011
Rochor residents air grievances on eviction
Moulmein-Kallang MP Denise Phua has pledged to seek higher compensation for Rochor Centre residents set to be evicted in light of the North-South Expressway (NSE) project. More than 200 residents aired their grievances during the launch of an exhibition of the new flats being offered to them in...
Continue Reading • 21 Nov 2011
CapitaLand to continue investing in China
Southeast Asia's largest property developer, CapitaLand, will continue to venture into China, despite the central government’s property cooling measures.Lim Ming Yan, CapitaLand’s Chief Operating Officer, said the company will maintain a balance between residential and commercial...
Continue Reading • 21 Nov 2011
S'pore developers bag international prizes at MIPIM Awards
Two local property developers have won international excellence awards in the recently concluded 2011 MIPIM Asia Awards, which recognises outstanding developments in the Asia Pacific region for their technical, innovative, environmental and architectural qualities.Far East Organization (FEO)...
Continue Reading • 18 Nov 2011
UK home buyers look to overcome deposit hurdle
Home buyers in the UK are taking on second jobs and additional loans to pay for deposits on properties.A Santander survey revealed that 28 percent of hopeful homeowners are taking on second jobs and working overtime to gather extra funds. It was recorded that another 27 percent of buyers are...
Continue Reading • 18 Nov 2011
Compensation claims for NSE works to start in December
Property owners whose properties will be affected by the new North-South Expressway (NSE) can start submitting their compensation claims in December.The majority of these owners are having their properties appraised ahead of the December meeting with the Singapore Land Authority (SLA).Industry...
Continue Reading • 18 Nov 2011
Profitable director's appeal dismissed
An application by Geraldine Nordmann, a director of Profitable Plots Pte Ltd, for the return of her passport and permission to live in Malaysia was dismissed in Singapore’s Supreme Court earlier today. Mrs Nordmann, who had previously been allowed to travel to the United Kingdom to...
Continue Reading • 18 Nov 2011
Singapore, Malaysia seek new consultant for rail link
Singapore and Malaysia have agreed to appoint an architectural and engineering consultant for the Rapid Transit System (RTS) that will link Singapore with Johor Baru. The consultant will be tasked with evaluating the technical aspects of the RTS to develop a cost-effective and convenient...
Continue Reading • 17 Nov 2011
Govt to amend HDB balloting rules for second-timers
Balloting rules will be amended by the HDB to improve second-time buyers’ chances of acquiring new HDB flats.Minister of National Development Khaw Boon Wan mentioned in his blog that the review will take place towards the end of next year.“After we have cleared most of the first-timer...
Continue Reading • 17 Nov 2011
Second mortgages on the decline in S'pore
Latest figures from Credit Bureau Singapore (CBS) suggest that speculative investors intending to profit from the country’s residential market are cutting back on their purchases, in light of the government’s cooling measures.Gathered from a number of financial institutions, the...
Continue Reading • 17 Nov 2011
Ho Bee in no rush to pick land sites
Property development and investment company Ho Bee Investment is looking to pick new residential sites in Singapore within six to nine months’ time, according to The Business Times.“Right now, there is a lot of uncertainty; nobody can fathom what will happen in Europe or the US....
Continue Reading • 17 Nov 2011
1st-timers stand higher chance of getting flats
Newlyweds now stand a very high chance of getting a new flat, as the government has ramped up its construction programme and priority in treatment, said Minister of National Development, Khaw Boon Wan, on his latest blog.“Since I joined MND, HDB has launched 16,000 new flats. Excluding...
Continue Reading • 17 Nov 2011
US mortgage defaults stabilise in Q3
Cumulative defaults for residential mortgages in the US showed signs of stabilising in Q3 2011, according to a report by Standard & Poor's (S&P). It said that cumulative defaults for US home loans are levelling, an improvement that started at the beginning of the year.“Much of...
Continue Reading • 16 Nov 2011
YTL Land & Devt announces new CEO
Property developer YTL Land & Development Berhad (YTL L&D) has appointed Kemmy Tan Peck Mun as its newest Chief Executive Officer.“The Singapore and regional property market has tremendous growth potential with the rise of personal wealth and growing demand for high-quality, luxury...
Continue Reading • 16 Nov 2011
Over 500 flats to make way for new highway
More than 500 HDB flats in the four-block Rochor Centre will be demolished to make way for a 5.6 km, three-lane dual carriageway tunnel that will complete the southern stretch of the North-South Expressway (NSE).According to the Land Transport Authority (LTA), the fully underground tunnel will...
Continue Reading • 16 Nov 2011
Mortgage demand among first-time Aussie buyers returns
The demand for new home loans among first-time home buyers in Australia is beginning to return, according to figures from a recent QBE LMI report.The influx of new mortgage customers is important for the country’s property market because it encourages “upgraders” to enter the...
Continue Reading • 15 Nov 2011