KSH reports 51.4% loss on revenue
KSH Holdings Ltd, an established construction and property company, has posted total revenue of S$30.5 million in the third quarter of the financial year 2012, down 51.4 percent over the same period last year.The decline in revenue was mainly attributed to lower numbers from its construction...
Continue Reading • 14 Feb 2012
Sim Lian posts lower results
Property developer Sim Lian Group has posted a profit before income tax of S$43.5 million in the second quarter of the fiscal year 2012, down 29 percent from the S$60.9 million recorded over the same period last year.This was attributed to a decline in revenue of S$33.1 million, underpinned by a...
Continue Reading • 14 Feb 2012
Strong interest in Parc Rosewood continues
Parc Rosewood (pictured) saw an additional 110 units sold last week, signifying a growth in demand for affordable resort-style living in Singapore. Strategically located at the upcoming Woodlands Regional Centre, the exclusive condo is developed by Kensington Land Pte Ltd, a joint venture (JV)...
Continue Reading • 14 Feb 2012
Surbana secures deal for Penang housing project
Surbana International Consultants (SIC), a subsidiary of CapitaLand and Temasek Holdings, has inked a contract with the Penang Development Corporation (PDC), to provide building consultancy services to a public housing development in Penang, Malaysia for an undisclosed amount.The 11,800-unit...
Continue Reading • 13 Feb 2012
China developer launches Aussie project in Singapore
Chinese developer Hengyi International has unveiled The William (pictured), a premier international residential development in Melbourne’s CBD. Over the past weekend, Hengyi, in cooperation with CBRE Singapore, exclusively offered the project to Singaporean investors at the Regent Hotel...
Continue Reading • 13 Feb 2012
UK experts warn against impulse buying during stamp duty holiday
Mortgage experts in the UK have cautioned first-time home buyers not to rush into acquiring a home just to beat the stamp duty holiday deadline. The stamp duty exemption allows home buyers to avoid a one percent stamp duty if they buy a new property valued under £250,000 (S$495,382) before...
Continue Reading • 13 Feb 2012
Bungalow market picks up speed
After several weeks of stagnation, the bungalow market is starting to move again, as the stock market becomes more solid and the Eurozone crisis has shown improvement of late.“The market is surprisingly getting back its momentum and buyers are making offers for units which are reasonably...
Continue Reading • 13 Feb 2012
Developers' sentiment weakens: survey
Developers’ sentiment in the Singapore real estate market has weakened from Q4, according to the Real Estate Sentiment Index (RESI) Survey conducted jointly by the Real Estate Developers' Association of Singapore (REDAS) and the National University of Singapore (NUS).The survey showed that...
Continue Reading • 13 Feb 2012
Vacant homes on the 'up and up'
Singapore’s private property market has witnessed stellar growth in recent years, yet that outstanding performance has also seen a rise in the number of empty homes in the city state.At the end of last year, there were 15,890 unsold homes in Singapore – a substantial increase on the...
Continue Reading • 13 Feb 2012
S'pore buyers snap up over 90% of The Greenwich
Far East Organization’s The Greenwich (pictured), a low-rise condominium development has proven to be immensely popular with buyers, with 295 (92 percent) of its 319 residential units snapped up.In a statement to PropertyGuru, Far East said that over 90 percent of the buyers are...
Continue Reading • 13 Feb 2012
One Tower Bridge, London set to unveil in Singapore
Berkeley Group, a UK property developer, has launched One Tower Bridge, a luxury residential development located near the Thames River, London.It boasts close proximity to iconic landmarks such as the Tower Bridge, Tower of London and The Shard. It is nestled between City Hall on the South Bank...
Continue Reading • 13 Feb 2012
More Aussie borrowers could change lenders
Thousands of homeowners in Australia could switch to a different mortgage provider, as they compare and consider the different rates offered by major banks, which are expected to increase.Speculation over mortgage rate increases may result in over 30 percent of mortgage holders replacing their...
Continue Reading • 10 Feb 2012
Mother, daughter fight over en bloc sale proceeds
Instead of getting half of the over S$617,000 in en bloc sale proceeds, a woman will only be entitled to 10 percent of the amount collected from selling a privatised HUDC flat, which she co-owns with her daughter.This is after the High Court released a decision giving Madam Lim Geok Swan, 76,...
Continue Reading • 10 Feb 2012
S'pore construction industry can learn from HK and China
Minister for National Development Khaw Boon Wan has encouraged local developers to adopt productive systems and machinery as well as elevate the skill competence of construction workers to increase productivity growth.In his latest blog post yesterday, Mr Khaw wrote that the local industry can...
Continue Reading • 10 Feb 2012
CCR home prices fall very harshly
Prices of private condos and apartments in the Core Central Region (CCR) have dropped by up to 10.2 percent from Q4 2011, as buyers became more cautious over the property cooling measures, particularly the additional buyer's stamp duty (ABSD) introduced in early December last year.According to...
Continue Reading • 10 Feb 2012
Bedok South Ave 3 site attracts 7 bids
The tender for a 99-year leasehold residential site at Bedok South Avenue 3 (pictured) has attracted a total of seven bids, with a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Singapore Ltd offering the top bid of S$345.9 million.“The site is attractive enough to...
Continue Reading • 10 Feb 2012
S'pore luxury condo dragged into M'sian scandal
A report has surfaced that a Malaysian female official, accused of squandering government loans totalling RM250 million (S$100 million), acquired two high-end condo units for more than S$7 million each at Marina Bay Suites (pictured) in Singapore. In addition, Datuk Seri Shahrizat Abdul Jalil, a...
Continue Reading • 9 Feb 2012
Foreign buying may suffer due to ABSD
As the effects of the additional buyer’s stamp duty (ABSD) grow in the next few months, buying behaviour among foreign purchasers could change significantly, according to consultants.In the case of Indonesians, the ABSD and the existing seller's stamp duty may prove too much from an...
Continue Reading • 9 Feb 2012
Bad US mortgages top US$72 billion
Costs from shoddy foreclosures and faulty mortgages have reached US$72 billion (S$89.80 billion) at the largest US banks, as the conclusion nears on a 50-state probe on mortgage practices.According to Bloomberg, the five largest home lenders during the real estate boom, which include Bank of...
Continue Reading • 9 Feb 2012
Foreign property buyers set new record
Last year marked a historical high for foreign property buyers in Singapore, led by mainland Chinese, Malaysians, Indonesians and Indians, according to property consultancy Savills Singapore.Compared to all other foreign buyers, Indonesians had generally larger budgets, dominating the Core...
Continue Reading • 9 Feb 2012