Tsang highly concerned about HK property price bubble
Hong Kong Financial Secretary John Tsang is “highly concerned” about the risk of a property price bubble, as low interest rates in the market continue.However, he said he is ready to interfere if there are signs of overheating in the Hong Kong property market, and urged buyers not to...
Continue Reading • 11 Apr 2012
Sky Habitat and Katong Regency to attract strong interest: DBS
With their strategic location next to MRT stations, CapitaLand’s Sky Habitat and UOL’s Katong Regency are expected to attract relatively strong interest from buyers during their respective launches.According to DBS, pre-marketing for both developments showed that “indicative...
Continue Reading • 11 Apr 2012
Foreign buyers restricted when buying properties: Lim
Lim Hng Kiang, Minister for Trade and Industry, gave a reminder that foreigners are not allowed to own HDB or EC units in Singapore. Additionally, they cannot acquire private landed properties, as only Singapore citizens and permanent residents (PRs) are allowed to do so.The minister said this in...
Continue Reading • 11 Apr 2012
Constant inflation a complex challenge for MAS
As Singapore’s open economy makes it vulnerable to prices of foreign goods and money inflows which causes home prices to skyrocket, the Monetary Authority of Singapore (MAS) faces a complex challenge when it comes to constant inflation issues.However, Trade and Industry Minister Lim Hng...
Continue Reading • 11 Apr 2012
Malaysia to raise floor prices for foreign home buyers
In an effort to control rapidly increasing home prices, Malaysia is planning to raise the floor prices for residential properties bought by foreigners. As such, Singaporeans who are keen on Malaysian properties may have to think twice.A report by The Star yesterday revealed that existing...
Continue Reading • 11 Apr 2012
Cavenagh Gardens up for collective sale
Cavenagh Gardens (pictured), a freehold apartment block in District 9, has been put up for en bloc sale with an indicative price of between S$460 million and S$480 million.This works out to between S$1,708 psf ppr and S$1,782 psf ppr excluding balcony allowance, or around S$1,553 psf ppr to...
Continue Reading • 10 Apr 2012
Nearly 9,000 HDB flats sold as a result of divorces
Around 8,900 HDB flats were sold between 2008 and 2011 as a result of divorces, according to Minister for National Development Khaw Boon Wan.Khaw said this in response to queries from Muhamad Faisal Abdul Manap regarding the number of HDB matrimonial homes sold as a result of divorce.Khaw also...
Continue Reading • 10 Apr 2012
OCR and HDB prices up in Q1: OCBC
Although private home prices generally declined in the first quarter, Outside Central Region (OCR) and HDB prices tell a different story. In Q1 2012, private home prices eased 0.1 percent quarter-on-quarter, which pushed a rebound in sales for February, the highest since July 2009. On the other...
Continue Reading • 10 Apr 2012
New HK mortgage loans hit 900b yuan
Hong Kong’s new mortgage loans extended by mainland banks hit 900 billion yuan (S$179.63 billion) in March, said a report.According to the China Securities Journal, total loans in the first three months of 2012 reached 2.35 trillion yuan (S$468.95 billion), slightly below the 2.4 trillion...
Continue Reading • 10 Apr 2012
109 units at FEO's Hillsta project snapped up
109 units at the Hillsta project (pictured) in Choa Chu Kang were snapped up during its launch on Thursday. Developer Far East Organization (FEO) said that around 90 percent of the buyers for the Japanese-inspired development were Singaporeans. Hillsta, a joint venture (JV) between FEO, Sekisui...
Continue Reading • 10 Apr 2012
S'pore residential market looks strong: CBRE
The residential sector has seen a strong response to selected new projects, pushing the private home sales volume to 5,200 units, driven partly by a large supply of about 5,500 new homes for sale in the quarter, as well as high liquidity and low interest rates, according to CBRE Research....
Continue Reading • 9 Apr 2012
US mortgage rates still low
The average rate of 30-year fixed mortgages in the US remained unchanged this week after it dropped to 3.98 percent last week, according to mortgage lender Freddie Mac.Meanwhile, 15-year fixed-rate mortgages also fell to 3.21 percent, above the record low of 3.13 percent seen in March. Mortgage...
Continue Reading • 9 Apr 2012
New York still an investment hotspot
Aside from panoramic views of bustling New York City, Manhattan’s 515 East 72 (pictured) also offers favourable investment opportunities that promise high yields.The one- to three-bedroom condos provide an ideal abode that includes private balconies or terraces with wide East River and city...
Continue Reading • 9 Apr 2012
Developers in a rush to launch new projects
Developers are rushing to launch new projects to take advantage of the strong demand seen in the primary home sales market, according to a report by The Business Times. “Developers know this trend cannot be sustained, especially when you have HDB launching (so many units),” said Ku...
Continue Reading • 9 Apr 2012
ERA's marketing of Sky Habitat breaks rules
In their rush to lure buyers before the official launch of the Sky Habitat condo (pictured), it appears that some marketing agents from ERA Realty have violated certain guidelines.A spokesperson from the Land Transport Authority (LTA) said they spotted several banners on Sky Habitat along public...
Continue Reading • 9 Apr 2012
Fernvale EC site awarded for S$245m
The Housing and Development Board (HDB) has announced the final tender results for a land parcel at Fernvale Lane (pictured) which was released in February. Property developer Peak Living Pte. Ltd won the bid for the 99-year leasehold site at S$245 million. The 21,999.90 sq m plot is slated for...
Continue Reading • 9 Apr 2012
Random checks indicate showflats still misleading
Under new guidelines set in March, developers must ensure a faithful representation of their units when presenting showflats to buyers. But a random check of six showflats conducted by The Straits Times found that they all failed to implement some of the rules. This comes after a record...
Continue Reading • 9 Apr 2012
Asian investors to remain active in property investment market
The first quarter of the year has seen total real estate investment sales drop to S$4 billion, 49 percent lower than the previous quarter and 53 percent less than the whole of 2011. According to a report by CBRE Research, weaker sentiment in the global capital markets, along with recent...
Continue Reading • 5 Apr 2012
M'sia imposing stiff rules to avoid mortgage crisis
Malaysia is imposing ‘strict measures' to prevent a US-style sub-prime mortgage lending crisis after home prices climbed an average of 6.6 percent in the fourth quarter last year. “The government is worried about property prices causing a bubble and we don't want banks to over-lend to...
Continue Reading • 5 Apr 2012
See Hup Seng eyeing EC market
See Hup Seng Limited, a mainboard-listed company providing corrosion prevention services in Singapore, is eyeing a 30 percent stake in Serangoon EC Pte Ltd, a move that will benefit the company due to the robust demand for executive condominiums (ECs).The firm said it plans to enter into a joint...
Continue Reading • 5 Apr 2012