S'pore, M'sia PMs preview Medini Integrated Wellness Capital
The concept for the Resort Wellness development in Medini Central was presented to both Singaporean and Malaysian prime ministers, along with their respective ministerial delegations, in Putrajaya yesterday. Known as the Medini Integrated Wellness Capital, the 210 acre development is located near...
Continue Reading • 6 Jan 2012
S'pore-M'sia land swop areas to commence devt next year
Work to develop two land sites in Marina South and Ophir-Rochor, the result of the land swop deal between Singapore and Malaysia, is expected to commence next year.The S$11 billion developments — comprising apartments, offices, shops and hotels spread across 501,020 sq m of land in two main...
Continue Reading • 6 Jan 2012
SOR rate in S'pore continues to rise
The benchmark interest rate in Singapore, which determines the amount homeowners must pay on their mortgage obligations, has continued to rise and may even climb further.Borrowers may face hundreds of dollars a month in additional repayments, as the Swap Offer Rate (SOR) steadily increases.On 5...
Continue Reading • 6 Jan 2012
CDL China acquires another site in Chongqing
CDL China Limited (CDL China), a wholly-owned subsidiary and the China unit of property developer City Developments Limited (CDL), has acquired its third site in Chongqing, with a permissible gross floor area (GFA) of 1.2 million sq ft.Located in the heart of the Yuzhong District in Chongqing,...
Continue Reading • 6 Jan 2012
Real estate investments hit S$28.6b in 2011
Despite the global economic uncertainty last year, Singapore’s real estate investments hit S$28.6 billion, surpassing the S$27.9 billion recorded in 2010, according to property deals tracked by DTZ.The report only covered investments above S$5 million and excludes S$1.1 billion worth of...
Continue Reading • 5 Jan 2012
Slew of new projects to launch before CNY
Developers are jumpstarting 2012 with a slew of housing projects set to launch before Chinese New Year. Riversound Residence, a 99-year leasehold condominium, will be launched by Qingjian Group on Saturday, while City Developments Ltd (CDL) will open applications for The Rainforest, an executive...
Continue Reading • 5 Jan 2012
UK mortgage approvals up in November
The number of new mortgage approvals in the UK surged to its highest level in November, but overall lending remained weak, according to data released by the Bank of England.It indicated that 52,854 new home loans were approved in November, up from 52,786 approvals in the previous month....
Continue Reading • 5 Jan 2012
Property, foreign worker curbs here to stay
The latest property curbs along with the tightened foreign worker policy are here to stay, as the Singapore government is now trying to increase productivity instead of the country’s population in order to drive growth, according to Bank of America Merrill Lynch economist Chua Hak Bin.Chua...
Continue Reading • 5 Jan 2012
S'pore property market braces for cold year
The office sector is bracing for weaker demand over the next two to three years, according to DBS, in a Singapore Business Review report. Earnings growth will also slow down, as office rents correct and residential sales taper off, said the report.DBS expects a lower residential sales volume,...
Continue Reading • 5 Jan 2012
Parkland Residences DBSS launching tomorrow
Property firm Low Keng Huat (LKH) will unveil its latest DBSS project, Parkland Residences, this Friday.Located in Hougang, Parkland Residences offers 680 DBSS flats comprising three- to five-bedroom units, as well as five-room premium units, with a built-up area of 1,206 sq ft. Prices range from...
Continue Reading • 5 Jan 2012
China's home prices down for fourth month
China’s residential property prices declined for a fourth month in December following the government’s announcement that it intends to maintain its property cooling measures, according to SouFun Holdings Ltd.SouFun, China’s largest real estate website owner, revealed that home...
Continue Reading • 5 Jan 2012
Property auctions market still sluggish
Auctions are no longer an exit strategy for distressed properties, as sluggish mortgagee listings for Q4 2011 reached their lowest since Q1 2009.In contrast, Jones Lang LaSalle (JLL) Auction brokered the sale of a S$6.6 million commercial property two quarters earlier.As buyers may have placed...
Continue Reading • 4 Jan 2012
Yoma plans expansion into Myanmar
Singapore-listed property developer Yoma Strategic Holdings has announced plans to acquire the rights to develop an area called Star City, located six miles from Yangon in Myanmar.According to a report by The Business Times, the group had earlier said that its wholly-owned unit had signed a first...
Continue Reading • 4 Jan 2012
S'pore economy contracted by 4.9% in Q4
Singapore's economy contracted by 4.9 percent quarter-on-quarter in Q4 2011, affected by the sharp decline in manufacturing, as the Eurozone economic slowdown hurt demand for Asian exports.According to the Ministry of Trade and Industry (MTI), the country’s GDP dropped 4.9 percent on a...
Continue Reading • 4 Jan 2012
Rental market may get boost from cooling measures
The rental market may improve this year, as home buyers are likely to put off purchasing amid the recent cooling measures, said analysts. Over the next year, a larger pool of tenants might stabilise the rental market or cause a five percent increase in rents. This counters earlier expectations of...
Continue Reading • 4 Jan 2012
Private property price hike eases further in Q4
Although private home prices hit a record high last year, flash estimates released by the Urban Redevelopment Authority (URA) showed that prices of private homes in Singapore rose only 0.2 percent in Q4, down from 1.3 percent in Q3 2011.Many experts said the preliminary figures made up the...
Continue Reading • 4 Jan 2012
Big lenders still dominate Aussie mortgage market
Despite a year-long effort by the Australian government to strengthen competition in the mortgage market, small lenders have not managed to break the dominance of the country’s major banks.In a report by BusinessDaily, the “big four” banks have hardly ceded their market share...
Continue Reading • 4 Jan 2012
FEO's The Tennery sold out
All 338 units at The Tennery in Bukit Panjang have been sold, said developer Far East Organization (FEO).It noted that the small office, home office (Soho) apartment project was sold over the span of a year at an average price of S$1,200 psf. Over 80 percent of the buyers were Singaporeans and...
Continue Reading • 3 Jan 2012
Singapore's private home prices continue to moderate
The rate of increase for private home prices in Singapore has continued to moderate in the fourth quarter, reflecting the ninth consecutive price growth since Q4 2009, according to flash estimates released by the Urban Redevelopment Authority (URA) for the private residential property index.The...
Continue Reading • 3 Jan 2012
URA launches the Labrador Nature & Coastal Walk
The Urban Redevelopment Authority (URA) has officially launched The Labrador Nature & Coastal Walk – a 2.1km walk that features three distinct segments – Bukit Chermin Boardwalk, Berlayer Creek and Alexandra Garden Trail. The recreational project, conceptualised and developed by...
Continue Reading • 3 Jan 2012