Jones Lang snags top analyst from DTZ
Jones Lang LaSalle (JLL) has confirmed the appointment of David Green-Morgan as its new Global Capital Markets Research Director.“David brings to the role significant capital markets research knowledge and experience, strong research product development skills and excellent client...
Continue Reading • 30 Sept 2011
SOR rates more volatile, says expert
Singapore’s three-month SOR (Swap Offer Rate) had climbed significantly to 0.367 percent since 23 September but has again fallen to around 0.149 percent, as of yesterday.“This shows SOR is more volatile,” said John Lee, Head of LoanGuru.com.sg, a free online home financing...
Continue Reading • 29 Sept 2011
LC Dev to gain stake in Knight Frank S'pore
LC Development, a property developer focused primarily on the hospitality sector, has revealed its plan to invest S$34.1 million and effectively gain a 44 percent stake in leading real estate consultancy firm Knight Frank Singapore.The SGX-listed LC Development will acquire an 80 percent stake in...
Continue Reading • 29 Sept 2011
Singapore sees emerging markets as path to growth
Singapore’s economic success has always depended on its business ties with its neighbours and other developed countries.However, Trade and Industry Minister Lim Hng Kiang emphasised — during his welcome speech at the three-day Russia-Singapore Business Forum (RSBF) — the need...
Continue Reading • 28 Sept 2011
Rate hike deters first-time Aussie home buyers
The cash rate increase by the Reserve Bank of Australia (RBA), which was followed by retail banks’ larger increases, has slashed the number of new home buyers by roughly a third.In a span of 12 months to July 2011, approximately 90,000 first-time home buyers funded their dwelling, down...
Continue Reading • 28 Sept 2011
KSH secures S$49.9m hospital contract
KSH Holdings Limited, a well-established construction, property development and property management group, has secured a contract worth S$49.9 million from Mount Alvernia Hospital for additions and alterations to the hospital’s car park block, front lobby and side entrance extension.Under...
Continue Reading • 28 Sept 2011
Property developer sued for S$14m by angry residents
Residents at the Seaview condo along Amber Road have sued its developer over poor workmanship and defects.The S$14 million lawsuit is believed to be the biggest yet in the country.Residents of the “Ardmore Park of the east” allege that the estate has been plagued by defects since they...
Continue Reading • 27 Sept 2011
Colliers staff in Asia take part in community projects
Nearly 1,500 Colliers International staff across Asia participated in various community initiatives last week, in the final leg of the company’s Asia-wide corporate social responsibility campaign. Under the theme 'Out For Good', the campaign was launched earlier this year. It has received...
Continue Reading • 27 Sept 2011
HK new mortgage loans down 27% in August
New mortgage loans in Hong Kong dropped 27 percent month-on-month to HK$14.7 billion (S$2.45 billion) in August, according to the Hong Kong Monetary Authority (HKMA).Data showed that the value of new home loan approvals declined 10.3 percent to HK$15.8 billion in August. Loan approvals for new...
Continue Reading • 27 Sept 2011
S'poreans bear brunt of rises in cost of living
Inflation in Singapore rose to 5.7 percent from a year ago, according to the Department of Statistics. The consumer price index (CPI) rate grew faster than the 5.15 percent forecast by Reuters, surging ahead of the 5.4 percent recorded in July, making it the highest since 2008. The cost of...
Continue Reading • 26 Sept 2011
UK mortgage approvals rise in August
Mortgage approvals in the UK surged to a 15-month high in August, as property investors fuelled demand, according to the British Bankers Association (BBA).Lenders signed off 35,226 loans for home purchases, an increase from the 33,734 in July. Compared to last year, mortgage approvals were higher...
Continue Reading • 26 Sept 2011
URA wants more time to review rules for property developers
The latest rules requiring property developers to be more transparent were expected to be in place by the end of this month.However, the Urban Redevelopment Authority (URA), says it needs more time to iron out the details for some of the proposals, after consulting with the industry. According to...
Continue Reading • 26 Sept 2011
CapitaLand wins big at 2011 Euromoney Awards
Southeast Asia’s largest real estate developer, CapitaLand, clinched nine awards at the 2011 Euromoney Real Estate Awards, including the Best Global Mixed-use Developer in Asia, for the second consecutive year.The company also scored a hat-trick, being named the Best Retail Developer in...
Continue Reading • 26 Sept 2011
TA Corp submits prospectus to list on SGX
TA Corporation Ltd has lodged its preliminary initial public offering (IPO) with the Singapore Exchange, with China Construction Bank (CCB-Singapore) and United Overseas Bank Ltd (UOB) as underwriters. The construction and real estate development company submitted the IPO prospectus on 22...
Continue Reading • 23 Sept 2011
US mortgages falter
Mortgage lending in the US declined last year amid weak demand and stricter credit standards, which are especially evident in areas with high real estate foreclosures, said the Federal Reserve.Its yearly analysis of mortgage data gathered from 7,900 financial establishments revealed that lenders...
Continue Reading • 23 Sept 2011
CapitaLand completes first residential project in Vietnam
Southeast Asia’s largest property developer CapitaLand has announced the successful completion of its first residential development in Vietnam, The Vista.Construction works for the project, which was jointly developed by CapitaLand, Phu Gia Investment Joint Stock Company and Thien Duc...
Continue Reading • 23 Sept 2011
Foreigners should be able to own landed properties in S'pore, says expert
Landed properties in Singapore should be made available to foreign investors too, said Tim Murphy, Chief Executive Officer of IP Global.This view was with regards to the government’s strict regulations of making landed properties in Singapore exclusive to Singaporeans.“I understand...
Continue Reading • 22 Sept 2011
CEA extends deadline for exam
Earlier this year, the Council for Estate Agencies (CEA) permitted existing salespersons who have not passed the industry examination, but have completed at least three property transactions over the last two years (before the CEA’s formation), to continue their work as salespersons on a...
Continue Reading • 22 Sept 2011
Mortgages up, rentals becoming scarce in Australia
One in four Australian homeowners are facing higher mortgages while rental vacancy is scarce in some cities, with the September Homebuyer Confidence Index showing that costs and mortgage rates climbed 21 percent in March.Meanwhile, data from SQM Research Pty showed that rental vacancies slipped...
Continue Reading • 22 Sept 2011
Home loan rates will likely climb next year, warn analysts
Analysts warn that Singapore's interest rates will likely climb in March next year, according to a Channel NewsAsia (CNA) report.This means that loans, which currently range from one to 1.2 percent, will likely increase by as much as 0.3 percentage points by early next year. This comes even if...
Continue Reading • 21 Sept 2011