Aussie mortgage brokers not expecting further rate hikes
Australian mortgage provider Loan Market believes that major banks in the country will not implement further lending rate increases, after having done so last month.The Reserve Bank of Australia (RBA) maintained its cash rate at 4.25 percent for the second month at its latest board meeting.A poll...
Continue Reading • 8 Mar 2012
UK mortgage fraud down 11% in 2011
The number of mortgage fraud cases in the UK fell 11 percent last year, attributed to the decline in mortgage application fraud, according to a report by CIFAS.However, this type of fraud remains the most common. The CIFAS report said the lack of employment and worries over future prospects may...
Continue Reading • 7 Mar 2012
Wheelock Properties to go private?
The death of Wheelock Properties CEO and Managing Director David Lawrence has raised speculation regarding the firm’s possible privatisation by parent Wheelock Group, as well as its future direction and link to SC Global.“This company has always been one of the potential candidates...
Continue Reading • 7 Mar 2012
Wheelock's David Lawrence passes away
David Lawrence (pictured), one of the pioneers of luxury property development in Singapore, passed away on Sunday at age 65.“The board of directors of Wheelock Properties (Singapore) Limited announces with regret and sadness that its managing director/chief executive officer, Mr David John...
Continue Reading • 6 Mar 2012
HDB debarment period waived for divorcees with children
Divorcees with full custody of all their children will no longer be barred for five years from buying a second subsidised flat from the HDB. Khaw Boon Wan (pictured), Singapore's Minister for National Development, also revealed that divorcees are no longer required to obtain prior consent...
Continue Reading • 6 Mar 2012
US govt expands mortgage assistance
The federal government will expand its mortgage assistance programme for the very first time to property investors who purchased multiple homes, assisting some speculators who drove up home prices and inflated the housing bubble.Under the revamped Home Affordable Modification Program (HAMP),...
Continue Reading • 6 Mar 2012
London luxury home price rises slow
Prices of luxury homes in central London rose at their slowest pace in five months during February, as more homeowners put their properties on the market to benefit from 16 months of price gains, according to a report by London-based brokerage firm Knight Frank.It showed that values of homes and...
Continue Reading • 6 Mar 2012
2 more programmes to make homes elderly-friendly
To further enhance the comfort and safety of the elderly, the Ministry of National Development has introduced another two new initiatives — Enhancement For Active Seniors (EASE) and the Car Park Lift Installation Programme.The EASE scheme, which is expected to cost around S$260 million,...
Continue Reading • 6 Mar 2012
Second-timers given more chances to acquire ECs
Second-time home buyers have been given a better chance of owning executive condos (ECs), after the HDB released a revised quota of flats intended for this group of buyers.The Housing Board announced that it will allocate 30 percent of EC units, from a previous five percent, to second-timers who...
Continue Reading • 5 Mar 2012
China's mortgage risks controllable, says expert
China’s mortgage risks are controllable, according to Yan Qingmin, Assistant Chairman at the China Banking Regulatory Commission (CBRC).His remarks come after more cities in the country witnessed declines in housing prices. Data from the National Bureau of Statistics of China revealed that...
Continue Reading • 5 Mar 2012
Toh Yi residents propose new site for elderly studios
Residents of Toh Yi estate (pictured), who had petitioned against the development of studio apartments for the elderly near their homes, have proposed an alternative location. However, their suggestion has irked around 50 residents living near the new proposed site, who have filed another...
Continue Reading • 5 Mar 2012
Strong demand for Sydney's Macquarie Central
After seeing more than 210 of its 244 apartments in stage one sold, Macquarie Central (pictured) by The Toga Group & La Salle Investment Management is now considered the newest property hotspot in Sydney.The development is located near the Macquarie University campus and a new underground...
Continue Reading • 5 Mar 2012
Khaw insists that an income earner paid S$1,000 can own a flat
National Development Minister Khaw Boon Wan has reassured the public that anyone with an income of at least S$1,000 can indeed afford a HDB flat.He said this after a heated exchange following Workers’ Party NCMP Gerald Giam’s observation that many younger low-income Singaporeans find...
Continue Reading • 5 Mar 2012
SOHO sell-out for Far East's PS100
Far East Organization’s third SOHO development and the first dedicated business SOHO under the brand, PS100, has sold all of its 100 strata office units in just one weekend at average prices of S$3,000 per sq ft.Located at the fast transforming Tanjong Pagar precinct of the Central Business...
Continue Reading • 5 Mar 2012
Yanlord Land's Q4 revenue up
Yanlord Land Group Limited, a high-end residential developer, announced that revenue for the fourth quarter soared 389.3 percent to RMB4.681 billion (S$927.21 million), attributed to higher selling prices achieved for its projects as well as an increased gross floor area (GFA) delivered during...
Continue Reading • 2 Mar 2012
Thai firm to unveil anti-protester condo
Magnolia Finest Corporation, the property arm of Thai-Chinese business family Chearavanont, is gearing up to kick off an initial THB5 billion (S$205 million) sales drive in May for Ratchadamri Boulevard, a new high-end condo development specifically designed to prevent easy entry for...
Continue Reading • 2 Mar 2012
UK house prices, mortgage approvals rise
Prices of UK homes recorded its highest increase in almost two years when it rose 0.6 percent in February, up 0.9 percent over the same period last year, according to the latest Nationwide house price index.A typical UK home is now priced at £162,712 (S$324,165).The building society said...
Continue Reading • 2 Mar 2012
Raffles Education's subsidiary to divest China land parcels
Raffles Education Corporation Limited has announced that its wholly-owned unit, Hebei Oriental Zhuyun Property Development, will be divesting four land plots located in the Langfang Development Zone in Hebei, China for 1.05 billion yuan (S$208 million).Hebei Oriental had inked an agreement with...
Continue Reading • 2 Mar 2012
EC site in Upper Serangoon attracts top bid of S$141.5m
The tender for an executive condominium (EC) site at Upper Serangoon (pictured) attracted a total of seven bids, with a joint bid from Ho Lee Group and Evia Real Estate Management offering the highest offer at S$141.48 million.“The site drew seven bids, showing developers’ interest in...
Continue Reading • 2 Mar 2012
Proposal for shorter HDB flat leases untimely
Pasir Ris-Punggol GRC MP Gan Thiam Poh recently proposed that the government sell new flats with shorter leases to make them affordable for low-income families and younger people.However, a Straits Times report shows that several property experts oppose it, saying it is untimely and would mean...
Continue Reading • 2 Mar 2012