China's property prices remain depressed
Prices of residential properties in China fell in January, making it the fourth consecutive month where values have fallen. This shows that the policy-driven property sector downturn is deepening, adding to concerns of a hard landing in the world’s second-largest economy.Average prices of...
Continue Reading • 20 Feb 2012
Aussie first-timers eager to refinance mortgages
First homeowners in Australia are seeking to refinance their home loans within two years of entering the property market, according to a research by LJ Hooker Finance.The study found that 46 percent of first homeowners are searching for better mortgage deals despite being in the housing market...
Continue Reading • 20 Feb 2012
St John Woods Residence launches in KL
St John Woods Residence (pictured), a 48-unit, 33-storey luxury apartment development in Kuala Lumpur, has been launched today. Meanwhile, a private preview is set for 23 February 2012 at the Hilton Singapore. Named after the famous St John’s Institution at Jalan Bukit Nanas, the new...
Continue Reading • 20 Feb 2012
New CEA rules could result in fewer property agents
The number of real estate agents could decline significantly, as the Council for Estate Agencies (CEA) now requires those who are holding other jobs to secure their employer's consent first, before becoming agents.Several industry watchers said the new rule could result in a drop in property...
Continue Reading • 20 Feb 2012
Great Outdoors opens its doors
Four international furniture brands have come together for the newly-opened 7,000 sq ft Great Outdoors showroom, formerly known as the 1st BoConcept store in Singapore, located along Devonshire Road. The showroom features a number of international furniture labels, including Paola Lenti, Kettal...
Continue Reading • 20 Feb 2012
Singapore the world's 9th most expensive city
Singapore has been ranked the ninth most expensive city in the world, surpassing New York, London, Frankfurt and Hong Kong which are normally associated with high-end living, according to latest Economist Intelligence Unit survey.While Singapore has dropped three notches from last year’s...
Continue Reading • 20 Feb 2012
More S'poreans to benefit from tax benefits
In his Budget 2012 speech today, Finance Minister Tharman Shanmugaratnam announced that the government will help lower income and elderly Singaporeans by introducing a three-pronged permanent Goods and Services Tax (GST) voucher that will fully offset the seven percent GST that the lower half of...
Continue Reading • 17 Feb 2012
Govt to build an inclusive, stronger Singapore
Singapore Budget 2012 has seen the government setting out to build an inclusive society for all Singaporeans.To sustain future economic growth, the government will restructure and upgrade the economy by growing productivity and relying less on an expanding workforce.Delivering the budget, Finance...
Continue Reading • 17 Feb 2012
Govt to help elderly unlock home savings
Singapore's elderly will soon benefit from a government-led initiative to help them make better use of their money in their golden years by moving to smaller homes.Called the Silver Housing Bonus, S$20,000 will be given to older Singaporeans who wish to sell their homes and shift to 3-room or...
Continue Reading • 17 Feb 2012
Singapore GDP growth to slow to 1-3%
Singapore's Ministry of Trade and Industry (MTI) expects Singapore's GDP to grow between a meagre one and three percent this year. "We are already seeing weaker demand in our manufacturing sector, reflecting sluggishness in the developed markets. However, prospects remain positive for...
Continue Reading • 17 Feb 2012
S'pore has enough firepower amid looming economic risks
Singapore’s GDP growth has been forecasted to slow to 2.7 percent this year from 4.8 percent last year, accompanied by weaker external demand, according to the International Monetary Fund (IMF).The IMF noted that the outlook is clouded by “significant downside risks” —...
Continue Reading • 17 Feb 2012
Koh Brothers net profit up 80%
Property firm Koh Brothers recorded a net profit increase of 80 percent to S$19.9 million last year. However, the company’s gross revenue decreased six percent to S$341.1 million in the year ended 3 December 2011.The company’s construction division was responsible for the bulk of...
Continue Reading • 17 Feb 2012
Roxy-Pacific net profit hits S$49.7m
Roxy-Pacific Holdings Limited (Roxy-Pacific) net profit surged 16 percent to S$49.7 million for the financial year (FY) ending 31 December 2011, backed by S$183.7 million in revenue.The group posted a nine percent growth in revenue from its hotel ownership segment, attributed to an improved AOR...
Continue Reading • 17 Feb 2012
UK mortgages to remain cheap
Thanks to record low mortgage interest rates, cheap mortgages in the UK are expected to lend a helping hand to millions of homeowners for another five years, according to experts.Optimism over home loans emerged on 15 February 2011, following the latest economic forecast from the Bank of England,...
Continue Reading • 17 Feb 2012
CapitaLand Chairman Richard Hu to leave post in April
Richard Hu (pictured), Chairman and independent Non-executive Director at CapitaLand, will retire on 30 April and will be succeeded by Ng Kee Choe, who has been an independent Non-Executive Director of the firm since 16 April 2010.Also retiring on the same date are fellow independent...
Continue Reading • 17 Feb 2012
Fund managers positive on global economic sentiment
A growing number of fund managers are regaining their confidence in global equities and in the growth of the global economy, specifically in China. The positive sentiment has helped improve the economic outlook across the region and eased concerns over the Eurozone debt crisis. These findings are...
Continue Reading • 17 Feb 2012
No signs of rebound in HK market: tycoon
No evidence suggests a sustainable rebound for Hong Kong’s residential property market, according to Lee Shau-kee (pictured), Chairman of Henderson Land.“The property market as a whole is still not looking good, though some say the market has turned bullish,” said the tycoon,...
Continue Reading • 17 Feb 2012
Private home sales to ease in February
Encouraged by the strong take-up of properties in January, property developers of mass-market residences will likely continue the launch momentum this month, according to Colliers International.The consultancy said it is also advantageous for developers to proceed with their launches instead of...
Continue Reading • 17 Feb 2012
China to curb illegal land development
China’s central government has revealed its plan to step up control of illegal land development, after the number of land abuse cases increased last year.Several reports noted that authorities from the Chinese land ministry recently held meetings with senior land officials in nine...
Continue Reading • 17 Feb 2012
Innovation is key for construction productivity: Khaw
Innovation and an eye for minute details like water pipes are imperative to boosting construction productivity, according to Khaw Boon Wan, Minister of National Development. “If we benchmark ourselves against Australia, Hong Kong, Japan, we are lagging behind in construction...
Continue Reading • 16 Feb 2012