Works to start soon on Tuas MRT station
The Land Transport Authority (LTA) has awarded a S$190 million contract to Shanghai Tunnel Engineering for the construction of the Tuas MRT station, according to The Straits Times.With construction expected to begin by end-2011, the civil engineering company from China, which has also been...
Continue Reading • 4 Nov 2011
US mortgage modifications up in September
The US government’s home foreclosure prevention programme saw a significant increase in permanent loan modifications in September, attributed to improved technology for case status reporting. According to a Reuters report, the Home Affordable Modification programme aided 40,141 homeowners...
Continue Reading • 4 Nov 2011
PLife Reit's Q3 revenue hits S$22m
Parkway Life Real Estate Investment Trust (PLife Reit) has posted a 4.1 percent increase in its Q3 gross revenue to S$22 million, while its net property income rose 3.6 percent to S$20 million.This was mainly attributed to higher rents from the company’s Singapore properties and...
Continue Reading • 4 Nov 2011
Jones Lang reports strong Q3 earnings
Global real estate services firm Jones Lang LaSalle (JLL) posted strong earnings in the third quarter, with revenue climbing 28 percent to US$903 million (S$1.167 billion).This was mainly attributed to higher market share and incentive fees, as well as the acquisition of King Sturge. “We...
Continue Reading • 3 Nov 2011
HDB unveils roadmap for better living
The Housing & Development Board (HDB) has officially unveiled its first roadmap for better living in HDB towns, which is focused on three major aspects: sustainable, well-designed and community-centric towns.Speaking at the Housing Board Awards 2011 at Marina Bay Sands yesterday, HDB CEO, Dr...
Continue Reading • 3 Nov 2011
Barclays extends buy-to-let lending in the UK
Barclays PLC has raised its cap on loan-to-value (LTV) on buy-to-let mortgages from 60 percent to 75 percent, in an effort to increase its presence in the home loans market. The announcement came as a response to growing activity in the buy-to-let market, on the back of increased demand from...
Continue Reading • 3 Nov 2011
Asia-Pac Reits can survive challenges ahead: S&P
Asia Pacific real estate investment trusts (Reits) are in a good position to survive the tough challenges ahead, according to Standard & Poor’s (S&P). With diversified funding sources and sound balance sheets, the global ratings agency believes that Reits in the region have become...
Continue Reading • 3 Nov 2011
Ascott Reit's manager given accolade
Ascott Residence Trust Management Limited (ARTML), the manager of Ascott Residence Trust (Ascott Reit), has been named the Best Investment Fund Manager (South Eastern Asia) at the inaugural World Finance Real Estate Awards.“We are indeed honoured to have been recognised for our track record...
Continue Reading • 3 Nov 2011
HK homes face rising negative equity
The rising number of homeowners in Hong Kong with apartments valued below their mortgages may further affect sentiment, which is already hurt by the global downturn and government measures, according to Barclays Capital Research.Approximately 1,653 mortgages suffered “negative equity”...
Continue Reading • 2 Nov 2011
Property companies recognised for high standards
Three local companies, CapitaMall Trust, Keppel Land and Ascendas Reit, were recognised for their high standards by the Asia Pacific Real Estate Association (APREA) at the recent APREA Best Practices Awards 2011.CapitaMalls Trust was declared the overall winner in the Mature Markets category,...
Continue Reading • 1 Nov 2011
Singapore's new home loans fall 3.5% in Q3
Approvals for new home loans in Singapore have continued to decline in the third quarter, as the current status of financial markets have caused lenders and borrowers to become wary.The Monetary Authority of Singapore (MAS) noted that approximately S$12.41 billion in new housing loans were...
Continue Reading • 1 Nov 2011
SingLand's Q3 profit up 13% to S$56.6m
Singapore Land Ltd (SingLand) has announced that its net profit for the third quarter climbed 13 percent year-on-year to S$56.6 million. Revenue for the quarter rose 16 percent to S$172.4 million, mainly attributed to higher progressive sales of trading property and a boost in revenue from Pan...
Continue Reading • 31 Oct 2011
PropertyGuru nabs 4 industry awards
PropertyGuru.com, Asia’s leading property portal group, has bagged four consecutive awards from three renowned organisations - Marketing Magazine, OPP and Red Herring.Marketing Magazine named PropertyGuru the favourite media platform for property buyers in Singapore, while OPP bestowed...
Continue Reading • 31 Oct 2011
China developers vexed over tighter lending standards
The number of new property-related loans in China has continued its downward trend in the third quarter, coupled with the capital strains experienced by realty firms, revealed the People’s Bank of China (PBOC).For the first nine months leading to 30 September, new property-related loans...
Continue Reading • 31 Oct 2011
Wing Tai's profit hits S$25.1m
Wing Tai Holdings has announced that its net profit climbed 3.81 times to S$25.1 million in the first quarter, from S$6.58 million over the same period last year.Meanwhile, Q1 revenue jumped 59 percent to S$108.97 million, boosted by the additional number of units sold at Helios Residences at...
Continue Reading • 28 Oct 2011
Brisbane is Australia's cheapest property location
Australian home buyers planning to take out a mortgage to acquire low-cost property are being advised to consider Brisbane, the most affordable location in mainland Australia, according to a report from RP Data.The largest price drop over the previous quarter was recorded in Queensland, with the...
Continue Reading • 28 Oct 2011
Regulator hints at tougher global mortgage standards
Global regulators have proposed, in draft guidelines published on 26 October, that lenders verify the capability of a borrower to repay a home loan and enforce stricter limits on amounts lent. The Financial Stability Board (FSB), a regulatory body for the world’s G20 economies, commented...
Continue Reading • 27 Oct 2011
SavillsCKH appointed to oversee new projects
SavillsCKH, one of the leading property and asset management service providers in Singapore, has received new appointments from management corporations and developers of several residential and commercial developments.The appointments came from various projects, including Clover By The Park, Twin...
Continue Reading • 27 Oct 2011
PropertyGuru launches revamped Rumah.com portal
PropertyGuru, Asia’s leading online property portal network, has launched a rebranded www.Rumah.com, Indonesia’s number one property website, as part of plans to target the growing number of wealthy Indonesians looking to buy overseas property.“Indonesians are one of the major...
Continue Reading • 27 Oct 2011
Ascott to manage its first serviced residence in Iskandar
The Ascott Limited (Ascott), a wholly-owned subsidiary of CapitaLand, has secured a contract from Nusajaya Consolidated Bhd to manage the Somerset Puteri Harbour Iskandar, its first serviced residence in Iskandar, Malaysia.Scheduled to open in 2013, the 204-unit project will be developed in a new...
Continue Reading • 27 Oct 2011