2 residential sites go en bloc
Singapore’s en bloc sales market is gaining speed, with the launch of Kovan Court (pictured) and Bartley Grove Apartment along with three adjoining terrace houses for sale at a total price of approximately S$104 million. The first site, Kovan Court, is situated along Kovan Road and has an...
Continue Reading • 23 Feb 2012
Chip Eng Seng suffers 58% decline in revenue
Construction and property firm Chip Eng Seng has recorded a 28 percent decline in net profit for the fourth quarter ended 31 December 2011, with revenue sliding 58 percent to S$57.5 million.The company also recorded S$2.7 million in losses from its stake in associates in Q4, compared to a share...
Continue Reading • 23 Feb 2012
London prime property market shines
London’s prime homes market defied the gloomy economic outlook and achieved sharp gains in 2011.The on-going Eurozone debt crisis and the political turmoil in the Middle East turned out to have little impact on the city’s high-end market, with prices reaching between £500,000...
Continue Reading • 23 Feb 2012
Shanghai eases second home purchase restrictions
The city of Shanghai has relaxed home purchase restrictions in order to allow more buyers to acquire a second property there, according to Shanghai Securities News.The local government has broadened the definition of ‘locals’ to cover residence permit holders who have lived in...
Continue Reading • 23 Feb 2012
Property a leading retirement investment
Around one in every 10 Singaporean is 65 years old and above, which means the resident population of 3,789,300 citizens and permanent residents (PRs) is indisputably an ageing population.In light of this, recent reports have focused on the issue of land scarcity for building centres for the...
Continue Reading • 23 Feb 2012
Aussie mortgage standards high
Australia’s mortgage lending standards are currently high, but lenders must be vigilant at all times, according to Luci Ellis, Head of Financial Stability at the Reserve Bank of Australia (RBA).“I am pleased to say that I do not currently see signs of widespread lax lending practices...
Continue Reading • 23 Feb 2012
Mass market housing to remain resilient in 2012
The mass-market segment will still be resilient in the coming months, particularly for developments in the Outside Central Region (OCR).Last year, mass market homes, excluding executive condominiums (ECs), hit a record, selling 65 percent or 10,374 units of the total number of new private...
Continue Reading • 23 Feb 2012
Wheelock's Q4 revenue down 55.9%
Despite revenue declining 55.9 percent to S$55.7 million, Wheelock Properties managed to achieve a 3.2 percent year-on-year increase in net profit to S$121 million in the fourth quarter of last year.However, gross profit for the quarter dropped 52.3 percent to S$34.8 million, offset by an 81.8...
Continue Reading • 22 Feb 2012
OUE records healthy 2011 results
Mainboard-listed integrated property developer Overseas Union Enterprise Limited (OUE) has posted a revenue increase of 54.2 percent to S$332.4 million for the financial year ended 31 December 2011, driven by higher contributions across all its business divisions.OUE’s hospitality division...
Continue Reading • 22 Feb 2012
US mortgage delinquencies, defaults down in January
Mortgage delinquency rate in the US dropped 2.2 percent in January, while mortgage defaults plummeted 2.16 percent last month, from 2.24 percent in DecemberThis kicks off the year on a good start, as both delinquencies and defaults resumed their downward trend after several months of increasing...
Continue Reading • 22 Feb 2012
Almost 500 new homes snapped up over past week
Nearly 500 new residences were sold over the past week, as developers stepped up their marketing efforts, fuelled by good transaction figures last month.In January, 1,872 new private residences were snapped up, the highest since November 2010, and property developers want to keep the ball...
Continue Reading • 22 Feb 2012
65 units sold at Bartley Residences
After a 20 percent discount, some 65 units have been sold at Bartley Residences (pictured) at an average price of S$1,240 psf, with 90 percent of the buyers being Singaporeans and permanent residents (PR).During yesterday’s preview, the developer released 120 units in the 99-year leasehold...
Continue Reading • 22 Feb 2012
Jones Lang confident about Bangkok property market
Global property consultancy Jones Lang LaSalle (JLL) is confident that a property bubble will not occur in Thailand despite the supply glut of condos.“The Thai property market is active, particularly condominiums in inner Bangkok, despite domestic political problems and sluggish Western...
Continue Reading • 21 Feb 2012
UK mortgage lending down in January
Mortgage lending in the UK dropped 14 percent to £10.5 billion (S$20.96 billion) in January, from £12.2 billion (S$24.35 billion) in the previous month. However, the figure for January was still 10 percent higher compared to £9.5 billion seen during the same period last year,...
Continue Reading • 21 Feb 2012
Tiong Seng's annual revenue soars 64%
Mainboard-listed construction and property group Tiong Seng Holdings Ltd. has announced that revenue for the full year ended 31 December 2011 soared 64 percent year-on-year to S$414.5 million, mainly attributed to higher revenue contributions from all business segments.The company’s...
Continue Reading • 21 Feb 2012
OKP eyeing property and investment opportunities
OKP Holdings Limited, a Singapore-based infrastructure and civil engineering company, plans to diversify into property development and investment this year, including taking on overseas projects which will mark an important change to the group.Last year, OKP clinched several major projects,...
Continue Reading • 21 Feb 2012
Over 500 units sold at Parc Rosewood
More than 510 units have been sold at the Parc Rosewood condo development (pictured) as of yesterday.“We are extremely encouraged by the strong response from buyers who have found our luxury resort concept and attractive price point very appealing,” said Koh Wee Seng, Director of...
Continue Reading • 21 Feb 2012
Rental prices down 20% in Singapore
Singapore has been ranked as the ninth most expensive city to rent in a new report – but evidence from recent weeks suggest rental prices may have already dropped by 20 percent since the start of the year.One agent told PropertyGuru she had just signed a deal to let a property that was...
Continue Reading • 21 Feb 2012
Majority expect property prices to fall due to ABSD
PropertyGuru, Asia’s leading property portal, today released its latest Affordability Sentiment Survey results on property market sentiment in Singapore. It revealed that the majority of home buyers and investors expect the additional buyer’s stamp duty (ABSD) introduced in early...
Continue Reading • 20 Feb 2012
Johor reveals master plan for glittery S'pore-facing waterfront
Johor has unveiled the master plan for the construction of a Singapore-facing waterfront project (pictured) from 3,000 acres (1,201-ha) of swampy and reclaimed land, consolidated under one company. The land bank stretches 25km and is next to the Causeway. It will be developed by Iskandar...
Continue Reading • 20 Feb 2012