HDB makes revision to SERS scheme
The Housing Development Board (HDB) has announced the first revision to the Selective En Bloc Redevelopment Scheme (SERS), in a move to make it more favourable for residents who are forced to relocate, according to a Straits Times report.Under the new tweaks, affected residents will receive...
Continue Reading • 15 Mar 2012
London, New York and Kuala Lumpur are top three property hotspots
Property investment firm IP Global has named London (pictured), New York and Kuala Lumpur as the top three property investment hubs in the world.London’s bullish property market has been boosted by international investors with a five percent growth forecast for 2012 while New York, with...
Continue Reading • 15 Mar 2012
Foreign home ownership in Indonesia now a possibility
Foreigners may be allowed to own property (limited to condominiums) in Indonesia, if the government green-lights a new regulation to be implemented in May this year.Indonesian land ownership laws have long prevented its property market from being open to foreigners. Currently, a foreigner may...
Continue Reading • 14 Mar 2012
UK to back 95% loans for new homes
UK Prime Minister David Cameron (pictured) was yesterday scheduled to announce state-backed mortgages that will enable home buyers with small cash deposits to acquire loans of up to 95 percent of the value of a newly built house. The government will underwrite part of the mortgages to buyers of...
Continue Reading • 14 Mar 2012
Major property deals slow to a trickle
Property investment sales for this quarter so far have plunged to a two-year low of about S$3.4 billion as of 12 March 2012, but Q1 figures could still rise to around S$3.8 billion, according to Savills Singapore.The 12 March tally is notably 57 percent lower than Q4 2011’s S$7.7 billion...
Continue Reading • 14 Mar 2012
Frasers Suites Chengdu opens
Frasers Hospitality has expanded its presence in China with the opening of the 360-unit Frasers Suites Chengdu (pictured).This will be followed by the opening of another five properties by the end of this year.“Our strategy will be to continue to strengthen our presence across China to meet...
Continue Reading • 14 Mar 2012
Applicants may abuse new HDB scheme for couples: experts
The new Multi-Generation Priority Scheme (MGPS) by the HDB, which gives more chances for couples to own their own flats if their parents live with them may be abused, warned some property experts.Although it aims to promote multi-generational family living, some could abuse the scheme by bidding...
Continue Reading • 14 Mar 2012
Singapore the 3rd most competitive city
Singapore has been ranked the world’s third most competitive city due to its first-class infrastructure, strong economy and clean environment, according to the latest report published by the Economist Intelligence Unit (EIU).Ranked by the World Bank as the easiest place to do business,...
Continue Reading • 14 Mar 2012
GCB asking price sets new record
Earlier this month, a sea-facing bungalow in Sentosa Cove was transacted for a record S$39 million but the property is far from being the most expensive landed home in Singapore.According to an article on AsiaOne, the costliest home for sale is said to be a five-bedroom good class bungalow (GCB)...
Continue Reading • 13 Mar 2012
Foreigners 'own 30% of Thai land'
Thailand’s Auditor-General Siracha Charoenpanij revealed yesterday that 30 percent of land in the kingdom (pictured) is owned by foreigners.Speaking at a seminar on disguised legal transactions and foreigners’ land ownership in Thailand held by the Senate committee on economic,...
Continue Reading • 13 Mar 2012
US govt, banks ink US$25b mortgage agreement
The US federal government along with five major banks yesterday reached a US$25 billion (S$31.48 billion) agreement, aimed at boosting the depressed housing market and addressing widespread mortgage abuses.According to a report, the deal which was finalised through court filings requires banks to...
Continue Reading • 13 Mar 2012
URA to announce winning ideas for Rail Corridor soon
The Urban Redevelopment Authority (URA) will announce the winners for the ‘Journey of Possibilities Ideas Competition’ for the Rail Corridor (pictured) on 30 March 2012 at the URA Centre.During the event, winners will share their ideas and innovative solutions to address some of the...
Continue Reading • 13 Mar 2012
China's property stocks fall as sales decline
Following the commitment by the central government to maintain its property cooling measures, share values of property developers in China fell as weak sales were recorded in the first two months of the year.According to a recent report by the National Statistics Bureau of China, homes sales in...
Continue Reading • 13 Mar 2012
Developers' bids for sites indicate falling home prices
With concerns over a possible drop in private home prices of up to eight percent this year, many developers are becoming more cautious on how much they are willing to pay for private home sites.Deciding on the prices to offer for a plot on sale, developers need to take into account the possibly...
Continue Reading • 13 Mar 2012
Exam, license fees for HK agents unchanged
Examination and license fees for real estate agents and agencies in Hong Kong (pictured) will remain unchanged this year, said the Estate Agents Authority (EAA).“The EAA is aware of the challenges the trade is facing at present. However, while it is inevitable that there are ups and downs...
Continue Reading • 13 Mar 2012
Singapore is recession ready, says S&P
With a strong financial standing, effective policymaking and structural reforms, Singapore is in good shape to minimise the impact of a possible recession. The country’s sovereign ratings are expected to remain stable this year but it needs to maintain sizeable reserves as well as flexible...
Continue Reading • 13 Mar 2012
SGBC to certify green furniture
The Singapore Green Building Council (SGBC) has collaborated with Singapore Furniture Industries Council (SFIC) to certify “green” furniture products, marking the first green furniture certification in Asia and a significant milestone for both industries.Valid for three years, the...
Continue Reading • 12 Mar 2012
Moneylenders to be subject to stricter rules
The rules governing moneylending in Singapore will be amended to further improve protection for borrowers.Acting upon the second reading in the Moneylenders Act, the proposed changes will include mandating the use of the effective interest rate (EIR), as opposed to the nominal interest rates...
Continue Reading • 12 Mar 2012
Oxley Holdings' unit acquires Seletar Garden for S$96.2m
Oxley Holdings Ltd, through its wholly-owned subsidiary Oxley YCK Pte Ltd, has acquired Seletar Garden (pictured), a freehold mixed-use project comprising 20 apartment units and 10 shop units, for S$96.188 million through an en bloc sale.The price paid for the property was higher than the...
Continue Reading • 12 Mar 2012
HKMA advises against low mortgage rates
The Hong Kong Monetary Authority (HKMA) has advised various commercial lenders, including Standard Chartered Bank and Wing Hang Bank, against offering mortgages with extremely low interest rates, according to a report by The Standard.Wing Hang Bank reportedly offered mortgages as low as prime...
Continue Reading • 12 Mar 2012