Roxy Pacific safe from liquidity crisis, says CIMB
Roxy Pacific Holdings is expected to launch three more projects in Q4 2011 but the property and hospitality group is now more cautious about acquisitions, given the increasing macro risks, said CIMB in a report.“Despite recent macro uncertainties, we expect ROXY to launch three more...
Continue Reading • 21 Sept 2011
PropNex looks to tap Malaysian property sector
Singapore-based property solutions company PropNex International Ltd has announced that it will be participating in the upcoming Sarawak Builders Expo (Sarbex) 2011, which will be held at the Borneo Convention Centre Kuching (BCCK) from 30 September to 2 October 2011.According to Stuart Tan,...
Continue Reading • 20 Sept 2011
Hong Kong mortgage rates go up
Hong Kong’s tightening liquidity may increase mortgage rates in China, said the head of HSBC Holdings Plc in Asia, sending real estate sentiment into an even faster downward spiral.HSBC raised its mortgage rate for the Hong Kong interbank offer rate (Hibor) to between 2.3 and 2.7 percent...
Continue Reading • 20 Sept 2011
Jones Lang looks to expand business in Asia
Jones Lang LaSalle (JLL), one of the world’s leading property service companies, has announced plans to expand its business ventures in the Asia Pacific region.The group is expected to make two acquisitions in Asia Pacific in the next six months to boost its product offerings. It is...
Continue Reading • 19 Sept 2011
Greener buildings can boost property values
Retrofitting commercial buildings in Singapore can boost their value. With expected savings of up to 10 percent on operating expenses, commercial buildings can yield a two percent increase in capital value, according to a joint study by the Building and Construction Authority (BCA) and the...
Continue Reading • 19 Sept 2011
Slow start for US$7.6b fund to fight foreclosures
The US government has distributed around one percent of its US$7.6 billion federal fund to help homeowners manage foreclosures, according to reports.In February 2010, the Hardest Hit Fund was granted to 18 states most affected by depreciated home prices and unemployment. The states established...
Continue Reading • 19 Sept 2011
Inflation pressure to ease in 2011
Though Singapore’s inflation rate hit 4.8 percent last year, it is expected to ease off to three percent this year, according to DBS.“Inflation figures for August 11 will be announced this Friday and a forecast of 4.7 percent year-on-year has been pencilled in our forecast, down from...
Continue Reading • 19 Sept 2011
Stricter loans may affect property prices in China
Property prices in China could slide within the next 12 to 18 months, as banks cut back on loans to real estate firms, which could possibly slow development, said Hong Kong property developer Vincent Lo.The government has urged banks to lessen loans to property firms in its attempts to rein in...
Continue Reading • 16 Sept 2011
English exam a hurdle for property agents
With a slew of new agent regulations in place this year, existing real estate agents stand to lose their licenses if they don’t pass the Real Estate Salesperson exam within a year.The new ruling was implemented nine months ago and those who are trying to overcome the language hurdle have...
Continue Reading • 16 Sept 2011
Revised income ceiling policy to apply to all EC projects
Following last month’s announcement by the Ministry of National Development (MND) regarding the revised income ceiling for executive condominiums (ECs), the ministry has received numerous appeals to apply the new policy to all EC projects, regardless of their launch date for public...
Continue Reading • 15 Sept 2011
US mortgage applications surge as rates decline
A recent survey revealed that US mortgage applications surged as borrowing rates dipped to a record low.The Mortgage Bankers Association (MBA) reported that the 30-year fixed-rate mortgage average fell to 4.17 percent from 4.23 percent, surpassing the previous low set in October 2010 at 4.21...
Continue Reading • 15 Sept 2011
LaSalle buys 49% stake in Chengdu land site
LaSalle Investment Management, the world’s leading real estate investment manager, through the LaSalle Asia Opportunity III fund, has successfully acquired a 49 percent stake in a land site in Chengdu, China from Shui On Construction and Materials Ltd, for RMB 440 million.“We are...
Continue Reading • 15 Sept 2011
BCA announces new energy retrofit pilot loan programme
Starting 1 October, a pilot programme launched by Singapore’s Building and Construction Authority (BCA) will enable building owners and energy service companies to secure loans from select banks to retrofit their buildings to higher environmental standards.According to Tan Chuan-Jin,...
Continue Reading • 15 Sept 2011
UK home loan purchases in slight rise, says council
The number of home loan purchases in the UK rose in July, according to the Council of Mortgage Lenders (CML).Around 48,400 mortgages were advanced for home purchases in July, up by 1,000 from the previous month but nearly 7,000 lower than in July 2010, said the CML.Paul Smee, Director General at...
Continue Reading • 14 Sept 2011
JLL receives top accolades at Euromoney Real Estate Awards 2011
Global property consultancy firm Jones Lang LaSalle (JLL) has been voted the number one Global Real Estate Advisor and Consultant for the third time at the prestigious annual Euromoney Real Estate Awards.“Jones Lang LaSalle’s recognition as the top global adviser and consultant...
Continue Reading • 14 Sept 2011
US mortgage rates hit a 60-year low
US mortgage rates hit their lowest level in six decades, making this the perfect time to buy or refinance a home. With today’s rate, those who qualify could end up saving thousands of dollars a year.“Low rates are great, but the real issue is that the pool of people who can get a loan...
Continue Reading • 13 Sept 2011
CEA to get tougher on rogue property agents
Nearly 100 “letters of advice” have been issued by the Council for Estate Agencies (CEA) to errant property companies and agents within the first year of its operations.Launched in October 2010, CEA was established by the government to raise the professionalism of the property agency...
Continue Reading • 13 Sept 2011
Australia's Commonwealth Bank starts home loan war
A large scale competition is unravelling, as Australia’s Commonwealth Bank has vowed to beat any rate advertised by its competitors until the end of the month.The bank has promised to offer new and existing customers opting for variable or fixed-interest loans valued at S$100,000 or more...
Continue Reading • 12 Sept 2011
REDAS calls for indepth review of property cooling measures
With fears that global economic woes could weaken the real estate market, several property developers in Singapore are calling for a review of the cooling measures.“We are just signalling that in the coming months, it may be a good time to look at what is happening in the world and what is...
Continue Reading • 12 Sept 2011
UN highly impressed with Singapore's BCA Green Mark Scheme
The United Nations is impressed with Singapore’s BCA Green Mark Scheme and wants to work with the Building and Construction Authority (BCA), which oversees the programme, according to The Straits Times.The report said the tie-up could involve an agreement that is expected to be signed on...
Continue Reading • 12 Sept 2011