US FHA to hike mortgage premiums
The US Federal Housing Administration (FHA) will raise the insurance premiums that it charges to borrowers in an effort to bolster its capital reserves.Starting 1 April, the FHA, which is the country’s biggest insurer of low-down payment mortgages, will hike its up-front insurance premium...
Continue Reading • 28 Feb 2012
Tuan Sing expected to unveil Seletar Park Residence this week
Tuan Sing Holdings is expected to unveil its latest condo development - Seletar Park Residence (pictured), this week. Nestled in the exclusive neighbourhood of Seletar Hills, the five-storey development features 276 one- to four-bedroom units that boast luxurious architecture with an emphasis on...
Continue Reading • 28 Feb 2012
Spring Grove tipped for en bloc
Spring Grove (pictured), a 325-unit condominium located on Grange Road, is tipped for collective sale if negotiations between homeowners and the US Embassy are successful.Located on the site of the former residence of the US ambassador, the 24,481 sq m site was acquired by City Developments...
Continue Reading • 28 Feb 2012
Far East dominates home sales chart
Property developer Far East Organization (FEO) led the way in sales last year with 2,718 new units sold on the back of a healthy real estate market and low mortgage costs.The privately-owned company captured 17 percent of the market share, with units sold almost double that of Hong Leong Group...
Continue Reading • 28 Feb 2012
S'pore developers set for new launches
More residential property launches are set to take off in the coming months. Far East Organization will soon unveil the 416-unit Hillsta condo in Choa Chu Kang as well as the 62-unit Greenwood Mews cluster housing development at Bukit Timah.Frasers Centrepoint will roll out its Palm Isles condo...
Continue Reading • 28 Feb 2012
55 units at Parc Rosewood sold in past week
Parc Rosewood (pictured) saw a total of 565 units snapped up in the four weeks since it was previewed on 28 January, with 55 units taken up in the past week alone.Located close to the upcoming Woodlands Regional Centre, the project is being developed by Kensington Land Pte Ltd, a joint venture...
Continue Reading • 28 Feb 2012
Asian buyers influence London property designs
Top-end specialist real estate developers in prime Central London have been responding to a growing requirement from Asian purchasers to develop the latest new-build properties across one level. This is a groundbreaking move away from the more traditional London townhouses that encompass several...
Continue Reading • 27 Feb 2012
SE Asia comes out tops for young British emigrants
Four Southeast Asian cities have been listed in a report as one of the top twenty cities to emigrate for young British people.The story, published by the U.K.’s The Telegraph newspaper, highlighted Jakarta (pictured), Bangkok, Phnom Penh and Manila as leading emigration destinations in...
Continue Reading • 27 Feb 2012
More housing choices for buyers
Home buyers have been presented with a large number of new property launches in the first two months of the year, and many experts predict there will be plenty more to follow in the coming months.Around 2,199 residential units were launched last month, excluding executive condos (ECs), and...
Continue Reading • 27 Feb 2012
Design Studio posts robust results
Design Studio Furniture Manufacturer Ltd, one of the leading furniture companies in Singapore, has recorded a net profit of S$15.3 million on the back of S$93.2 million in revenue for the financial year ended 31 December 2011.“We are delighted to deliver our 21st consecutive quarter of...
Continue Reading • 27 Feb 2012
Climb stairs to keep fit and stay healthy, says Khaw
Minister for National Development Khaw Boon Wan (pictured) has urged HDB residents to keep fit by taking the stairs. In his most recent blog post titled ‘Eat Less, Move More’, Mr Khaw encouraged readers to find other ways to stay fit, citing an email from a 60-year old Singaporean as...
Continue Reading • 27 Feb 2012
US mortgage relief doomed?
The Mortgage Forgiveness Debt Relief Act in the US will expire in 10 months and this could affect many borrowers, as there are early indications in the US congress that the law may not be renewed. The law allows homeowners who have acquired principal reductions on their mortgages as a result of...
Continue Reading • 27 Feb 2012
SC Global's Q4 revenue down 56%
Mainboard-listed developer SC Global has recorded a 56 percent drop in Q4 revenue to S$88.7 million, from S$200.6 million over the same period last year, attributed to lower revenue contributions from its development projects, including Martin No. 38 and Seven Palms (pictured).Gross profit during...
Continue Reading • 27 Feb 2012
UOL posts strong results for 2011
Fuelled by strong growth across all business operations, UOL Group’s profit before fair value and other gains/losses surged 32 percent to S$727.8 million in the full-year ended 31 December 2011.Pre-tax profit rose two percent to S$904.4 million, while attributable profit before fair value...
Continue Reading • 27 Feb 2012
More foreigners snap up private homes
The number of private homes acquired by foreigners climbed 20 percent in 2011 despite a significant decline in the total number of private homes sold last year, according to DTZ Research. The report said foreigners acquired a total of 5,246 homes for the whole of 2011, beating the earlier record...
Continue Reading • 24 Feb 2012
Tycoon sells Nassim Rd plot for S$47.8m
Motoring tycoon Peter Kwee (pictured) is said to have sold a 23,920 sq ft plot located along Nassim Road for about S$47.8 million, which works out to around S$2,000 psf.The psf land price is slightly below the S$2,081 psf island-wide price for a Good Class Bungalow (GCB) area, but the transaction...
Continue Reading • 24 Feb 2012
Donald Tsang's Shenzhen penthouse ignites controversy
Former Hong Kong Chief Executive, Donald Tsang (pictured), has become subject of media interest as his property - a planned retirement home is being scrutinised. The penthouse apartment was reportedly surveyed by undercover reporters. Upon seeing the property located in Shenzhen, the...
Continue Reading • 24 Feb 2012
PropertyGuru to hold 2nd Malaysia Property Showcase this weekend
With the aim of providing quality property investment and ownership opportunities to investors and buyers, PropertyGuru, Asia’s leading property portal, will hold its second Malaysia Property Showcase this weekend, 25 to 26 February 2012, at the Orchard Hotel, Singapore.This showcase comes...
Continue Reading • 24 Feb 2012
Singapore's inflation eases to 4.8%
Singapore’s inflation rate eased to 4.8 percent in January from 5.5 percent in December, marking the first time that price rises fell under five percent since May last year, according to the Monetary Authority of Singapore (MAS).The decline was attributed to lower COE (Certificate of...
Continue Reading • 24 Feb 2012
US mortgage rates climb slightly
Average 30-year fixed-rate mortgage rates in the US climbed after standing pat for three consecutive weeks, but stayed below four percent for the 12th straight week, according to the Washington Post.Freddie Mac said the average rate on 30-year mortgages soared to 3.95 percent, up from 3.87...
Continue Reading • 24 Feb 2012