HDB to set up committee for Rochor compensation
The HDB plans to set up a workforce of grassroot leaders and MPs to examine compensation policies, as well as to help residents affected by the acquisition of Rochor Centre “find the best way out”, according to Khaw Boon Wan, Minister of National Development.Mr Khaw assured MP Denise...
Continue Reading • 18 Jan 2012
Watertown to launch this Chinese New Year
Property developers Far East Organization, Frasers Centrepoint Limited and Sekisui House, Ltd. are ushering in Chinese New Year with the joint launch of the 992-unit Watertown. Located in Punggol Central and boasting scenic views of the Punggol Waterway, the project will be Singapore’s...
Continue Reading • 18 Jan 2012
Investments into Singapore to remain at 2011 levels
Amid a bleak global economic outlook this year, investments into Singapore will remain around the 2011 levels, according to the Economic Development Board (EDB). EDB expects fixed asset investments (FAI) for 2012 to hit between S$13 billion and S$15 billion, most likely besting last year’s...
Continue Reading • 18 Jan 2012
Prices of units at Watertown reduced 5-8%
Recent news that private home sales fell a drastic 63 percent month-on-month in December due to the new cooling measures has caused jitters among local property developers.Far East Organization announced yesterday that it has lowered prices for units at its newly unveiled Watertown, a 992-unit...
Continue Reading • 18 Jan 2012
UK housing prices down yet again
Home sellers in the UK slashed asking prices for a third month in January, according to Rightmove plc, which noted that “the market will remain challenging and fragmented during 2012.”Britain's biggest property website operator said the average asking prices in England and Wales...
Continue Reading • 17 Jan 2012
IRAS clears the air on ABSD
The Inland Revenue Authority of Singapore (IRAS) has made several clarifications on the additional buyer's stamp duty (ABSD) in its revised e-Tax Guide.One concern was the quantum of stamp duty to be paid by a foreigner if a price discount in the form of vouchers and cash rebates were offered by...
Continue Reading • 17 Jan 2012
Two residential sites sold for S$796.1m
Two residential sites at Mount Vernon Road and Jalan Lempeng have been sold separately for a total of S$796.1 million.The first parcel, located at Mount Vernon Road, was sold to a consortium comprising Intrepid Investments Pte Ltd, Sunmaster Holdings Pte Ltd and TID Residential Pte Ltd, after...
Continue Reading • 17 Jan 2012
Helping S'poreans own first flat is a priority, says Khaw
National Development Minister Khaw Boon Wan stressed that the government’s priority is to help Singaporeans own their first HDB flat.“Our priority is to help Singaporean families own their first flat,” he said. “I think our advice to our constituents is we will help you,...
Continue Reading • 17 Jan 2012
Private home sales drop to lowest level in two years
Private home sales in December dropped to its lowest level in two years, after the government imposed new cooling measures to curb Singapore’s red-hot property market.According to data released by the Urban Redevelopment Authority (URA), the total number of units sold in December fell 64...
Continue Reading • 17 Jan 2012
S'pore home sales slow down as cooling measures bite
The implementation of the Additional Buyer's Stamp Duty (ABSD) to curb Singapore’s property market significantly affected home sales in December, as it dipped 63 percent month-on-month to 632 units sold, from 1,702 in November.“The initial impact of the ABSD is felt equally across all...
Continue Reading • 17 Jan 2012
Global Logistic raises S$250m through perpetual bonds
Global Logistic Properties (GLP), a unit of the Government of Singapore Investment Corp (GIC), has sold an upsized S$250 million reopening of its 5.5 percent perpetual bonds at the rich end of price talk, according to The Business Times, citing market sources.The report said the notes were sold...
Continue Reading • 17 Jan 2012
Aussie home loan approvals up slightly
The number of approved mortgages in Australia climbed 1.4 percent to 46,953 in November, from a downwardly revised 46,293 in the previous month. According to the Australian Bureau of Statistics (ABS), the total value of home loans grew 2.1 percent on a seasonally adjusted basis to A$20.344...
Continue Reading • 17 Jan 2012
Beijing home prices fall by 11.3% in 2011
The prices of new homes in Beijing declined 11.3 percent year-on-year in 2011, as the cooling measures imposed by the central government take hold.According to the Beijing Real Estate Association, the average price of new homes in the capital fell to 13,173 yuan (S$2,659) psm in 2011, when 78,000...
Continue Reading • 17 Jan 2012
Surbana eyes housing projects in Asia, Middle East
Singapore-based township development company Surbana is eyeing more mass-market housing projects across Asia and the Middle East, according to a report by The Business Times.The company’s expertise in developing HDB projects will be an advantage in meeting the growing demand for affordable...
Continue Reading • 16 Jan 2012
Singapore developers can't count on China
Seeking growth outside Singapore, local developers have aggressively injected capital into China’s residential market over the past five years, but “while stocks initially enjoyed the benefit of the 06/07 China re-rating, they have subsequently been penalised, underperforming domestic...
Continue Reading • 16 Jan 2012
UK home loans should remain low until 2016
Home loans in the UK will remain affordable until 2016, at a base rate of 0.5 percent, according to the Centre for Economics and Business Research, an economic think-tank.Last week, the Bank of England kept mortgage rates at a record low for the 34th consecutive month. “Even when rates go...
Continue Reading • 16 Jan 2012
HK pips Singapore as world's freest economy
Hong Kong has bested Singapore and other economies in terms of trade and financial freedom, clinching the top spot for 18 consecutive years.“Of the 10 economic freedom factors assessed, Hong Kong ranked first in financial and trade freedom, second in investment freedom and property rights,...
Continue Reading • 16 Jan 2012
S'pore all set and ready for 2012, assures PM
Singapore is “prepared and ready for what is going to come” in the Year of the Dragon, assured Prime Minister Lee Hsien Loong.He also noted that despite the expected economic slowdown in Singapore, the government will continue to improve the well-being of Singaporeans in areas like...
Continue Reading • 16 Jan 2012
Frasers expands in Indonesia with new serviced residences
Frasers Hospitality, Fraser and Neave’s (F&N) serviced residence unit, broke ground on 12 January for its second development in Jakarta, Indonesia.Located in the heart of Jakarta’s golden triangle, Frasers Suites Kuningan at Ciptutra World 2 will comprise 210 ultra-deluxe...
Continue Reading • 16 Jan 2012
Home buyers and sellers wary of market conditions
Although a healthy number of prospective buyers have been seen at showflats a week before the Chinese New Year, they prefer to be cautious and keep their options open.A Straits Times report revealed that despite the steady stream of home buyers flocking to showflats, very few units are being...
Continue Reading • 16 Jan 2012