Consortium acquires two residential sites in Zhuhai
A consortium comprising Yanlord Land, Ho Bee Investment and Shanghai Youyou has successfully acquired two adjacent prime residential development sites in Zhuhai through a public land auction for three billion yuan (S$595 million).With a combined gross floor area (GFA) of 499,329 sq m, the land...
Continue Reading • 25 Oct 2011
Aussie lenders jockey for position
The end of the decades-long credit frenzy, coupled with increasing competition among banks, has helped reduce market interest rates this year, said the Reserve Bank of Australia (RBA).Ric Battellino, Deputy Governor at Australia’s central bank, said the renewed tendency of Australian...
Continue Reading • 25 Oct 2011
First Reit's Q3 distributable income soars 125.7%
First Real Estate Investment Trust (First Reit) has announced that its distributable income for the third quarter surged 125.7 percent to S$12.08 million, from S$5.35 million over the same period last year.This was boosted by the S$8.7 million gained from the divestment of its Adam Road property,...
Continue Reading • 24 Oct 2011
UK households enjoy mortgage windfall
Around 1.8 million households in the UK saved approximately £2,600 per year by reverting to their lender’s standard deal after the expiration of their original fixed-term loan, according to the Council of Mortgage Lenders (CML).The amount of savings is unusual, as lenders’...
Continue Reading • 24 Oct 2011
Inflation to remain at around 5.7%: DBS
With food and COE prices increasing, along with wage pressures, inflation appears to be “not only sticky but (is) becoming more broad-based, averaging at five percent”, according to DBS.The bank expects September’s inflation rate to mirror that of August.Despite the 2.1 percent...
Continue Reading • 24 Oct 2011
Govt pledges to improve older estates
Prime Minister Lee Hsien Loong yesterday reiterated the government’s commitment to improve the conditions and amenities in older housing estates like East Coast and Yishun.Speaking at the opening of My Waterway@Punggol, PM Lee said that the government will coordinate with the community and...
Continue Reading • 24 Oct 2011
CapitaLand's Q3 profit down, but company upbeat about future
Southeast Asia’s largest property developer, CapitaLand, has recorded a net profit of S$80.2 million in the third quarter, down 83 percent from S$460.1 million a year ago.CapitaLand said the decline in Q3 income was mainly attributed to lower contributions from Australia and China, as well...
Continue Reading • 24 Oct 2011
US mortgage rates steady
Long-term mortgage rates in the US were relatively steady in the week after reports noted mixed signals on the health of the economy, according to a Freddie Mac survey.Rates were restricted from an uptrend in light of mixed economic data, two weeks after the 30-year fixed mortgage dropped 3.94...
Continue Reading • 21 Oct 2011
Another property agent charged in court
A second property agent was charged in court yesterday for allegedly working as a property salesman without being registered with the Council for Estate Agencies (CEA).Raymond Sim Soon Leong, 30, was also accused of not obtaining a written agreement with Savills Singapore for him to...
Continue Reading • 21 Oct 2011
Govt monitoring home buying activity of foreigners
The government is closely monitoring foreign acquisition of private homes and will take further measures if needed, said National Development Minister Khaw Boon Wan.“We are monitoring market conditions closely and, if need be, we will take further measures. For landed property, we have...
Continue Reading • 21 Oct 2011
Ascott Reit Q3 DPU up 21%
Ascott Residence Trust (Ascott Reit) has announced that its distribution per unit (DPU) for the third quarter rose by 21 percent, fuelled by the 28 serviced residence properties added to its portfolio last year.“This is mainly attributable to the yield-accretive acquisition of the 28...
Continue Reading • 21 Oct 2011
Keppel Land's Q3 net profit hits S$58m
Keppel Land, a wholly-owned subsidiary of Keppel Corporation, has reported a 6.6 percent increase in its Q3 net profit to S$58 million, mainly attributed to higher earnings from property developments and the introduction of a new accounting policy.The company implemented the policy in January...
Continue Reading • 20 Oct 2011
Govt willing to build over 100,000 flats
The government will assist newlyweds with a combined monthly salary of less than S$10,000 to obtain their first Build-to-Order (BTO) flats, said National Development Minister Khaw Boon Wan, adding that the government is capable of constructing over 100,000 flats.In parliament yesterday, Mr Khaw...
Continue Reading • 20 Oct 2011
Cooling measures here to stay, says Khaw
Singapore’s property cooling measures will stay and the government will continue to release more land sites to meet private housing demand, said National Development Minister Khaw Boon Wan.In his speech to parliament yesterday, Mr Khaw said private housing currently makes up 23 percent of...
Continue Reading • 20 Oct 2011
UK remortgage deals to evaporate as economy recovers
Low remortgage rates in the UK will soon be a thing of the past, as the economy begins its path to recovery. The weak economy is postponing any increase in the Bank of England’s standard base interest rate to its normal level. Experts believe that as soon as the economy strengthens, the...
Continue Reading • 20 Oct 2011
My focus is on first-timers and vulnerable, says Khaw
In parliament yesterday, National Development Minister Khaw Boon Wan shared plans to improve Singapore's housing issues.He said the most pressing priority is to focus on newly-wed first-timers and vulnerable families in the first two years. Not forgetting the other groups of home buyers - the...
Continue Reading • 20 Oct 2011
Call for HDB to go back to basics
Mr Lim Wee Kiak, Member of Parliament for Nee Soon, has told the parliament that prices of HDB flats have risen, and urged the HDB to go “back to basics”.He wants the government to ensure that homeownership is the HDB’s top priority and offered his own suggestions as well.Mr Lim...
Continue Reading • 19 Oct 2011
UK mortgage market still below pre-crisis levels
Mortgage approvals in the UK have risen for four consecutive months, with new landlords playing a significant role in boosting the number to 35,226 in August, according to new figures released by the British Bankers’ Association (BBA).“The banks’ new lending has ticked up in the...
Continue Reading • 19 Oct 2011
BCA, UNEP work to promote sustainable building practices
The Building and Construction Authority of Singapore (BCA) and the United Nations Environment Programme (UNEP) will work together to establish and promote sustainable building practices in Southeast Asia.“We are very pleased to formally establish BCA’s Centre for Sustainable Buildings...
Continue Reading • 19 Oct 2011
Govt wants public's opinion on real estate agency industry
The government will conduct a nationwide survey to gauge the public’s perception of the real estate agency industry, according to Lee Yi Shyan, Minister of State for National Development.To cover four areas, the survey will include questions relevant to customer expectations and...
Continue Reading • 18 Oct 2011