MND to release masterplan on underground space this year
The Ministry of National Development (MND) has confirmed that an underground space masterplan is now in the works and will be released this year.The high-level Economic Strategies Committee has named underground space as a strategic resource for land-strapped Singapore.A vast labyrinth of...
Continue Reading • 3 Jan 2012
Far East starts year with strong demand for The Hillier
Far East Organization (FEO) has recorded strong take-up for its second SOHO development, The Hillier, launched on 1 January 2012.As of today, around 225 of the 333 one- and two-bedroom SOHO units released have been sold at an average of S$1,175 psf, with most of the buyers being Singaporeans and...
Continue Reading • 3 Jan 2012
US mortgage rates to remain low in 2012
The US mortgage market will continue to see low interest rates throughout 2012, according to experts.Although the Federal Reserve has pledged to keep rates low throughout 2012 and 2013, experts said high unemployment levels, as well as declining home prices, may provide little incentive for...
Continue Reading • 3 Jan 2012
Harsh winter for Beijing home sales
Sales of new and existing homes in Beijing plummeted 18.4 percent and 38.2 percent respectively last year, due to the government's efforts to cool the property market.According to the city's housing regulator, new home sales in Beijing slumped to 90,605 units from a year ago. In terms of sq ft,...
Continue Reading • 3 Jan 2012
Ten Mile Junction station resumes operations
After a one-year closure, the Ten Mile Junction LRT station opens today. SMRT, the rail operator, closed the station when the Ten Mile Junction shopping centre commenced its S$28 million renovations, as the station would be a construction site and therefore, unsafe for commuters. The station...
Continue Reading • 30 Dec 2011
Ministry of Law sets new conveyancing rules
In an attempt to enhance conveyancing transactions, the Ministry of Law has launched new rules to simplify the payment of stamp duties and depositing of monies into conveyancing accounts.Announced on 29 December, these additional rules aim to enhance the measures launched on 1 August to protect...
Continue Reading • 30 Dec 2011
Government identifies new SERS site
Blocks 167 to 172 at Boon Lay Drive comprise the newest site identified by the Singapore government for the Selective En Bloc Redevelopment Scheme (SERS).Consisting of 650 flats, this is the 77th site to benefit from the SERS programme. The HDB will develop some 710 new two- to five-room flats at...
Continue Reading • 30 Dec 2011
Global investor confidence down in December
Global investor confidence dipped slightly in December but a glimpse at individual regions showed that European institutional investors are more upbeat than their Asian and North American counterparts.According to the State Investor Confidence Index for December, which was released by State...
Continue Reading • 30 Dec 2011
S'pore prepares for countdown at Marina Bay
The Marina Bay Singapore Countdown, which is now in its seventh year, is inviting everyone to write their hopes for the New Year on wishing spheres.About 20,000 wishing spheres, representing the inspiring and contemplative nature of the countdown celebrations, will be placed in Marina Bay to...
Continue Reading • 30 Dec 2011
Aussie home prices to decline further next year
Mortgage customers in Australia foresee further decline in home prices next year, which may leave many home loan borrowers facing negative equity issues.According to a report by Realty Biz News, several property experts warned that some people on the property ladder may be left “under...
Continue Reading • 30 Dec 2011
New cooling measures may be scrapped if economy worsens
The latest property cooling measures could be removed if the Singapore economy deteriorates or stagnates amid the looming economic downturn, according to analysts.However, if home prices continue to increase despite the new policy, home buyers can expect the measures to remain.According to a...
Continue Reading • 29 Dec 2011
Prices of Tiong Bahru pre-war flats rising
With a whole slew of coffee houses and indie retail shops in Tiong Bahru, 20 blocks of pre-war conservation homes have gained renewed interest, pushing up prices by about 50 percent in the last two years, according to a report by Channel NewsAsia.The pre-war flats were built in the 1930s and...
Continue Reading • 29 Dec 2011
Prices of shoebox apartments slide in November
Prices of completed shoebox apartments peaked in August and dropped three percent in November, according to the flash estimates from NUS’ Institute of Real Estate Studies.Month-on-month, prices of these units dropped 0.2 percent in November.The flash estimates also showed that prices of...
Continue Reading • 29 Dec 2011
Nomura targeting more home sales
Nomura Real Estate Holdings Inc, the largest real estate developer in Tokyo, plans to boost its home sales by up to 18 percent next year, as declining housing supplies signal a rebound in the Japan housing market.Kamezo Nakai, President of Nomura Real Estate, said in an interview with Bloomberg...
Continue Reading • 29 Dec 2011
New mortgage loans in HK down 8%
New mortgage loans in Hong Kong declined eight percent to HK$10.6 billion (S$1.77 billion) in November, according to data released by the Hong Kong Monetary Authority (HKMA).The data showed that the value of new loans approved last month dropped 4.7 percent to HK$11.9 billion (S$1.99 billion),...
Continue Reading • 29 Dec 2011
More land to be provided for EC sites next year
More land will be allotted for executive condominiums (ECs) in 2012, said the Ministry of National Development (MND), noting that it is prepared to provide sites for 5,000 EC units next year.This move comes after the government had committed to help more higher-income Singaporeans own private...
Continue Reading • 28 Dec 2011
US mortgage delinquencies to slide further next year
Mortgage delinquency rates in the US are predicted to decline in the last three quarters of next year, after hitting a high of 6.02 percent in the first quarter of 2011, according to TransUnion.The global information management services firm noted that mortgage loan delinquencies are expected to...
Continue Reading • 28 Dec 2011
REDAS, government air views over latest measures
Deeply divergent views from the government and developers regarding the recent property cooling measures were aired at the Real Estate Developers Association of Singapore’s (REDAS) 52nd anniversary dinner.The event was the first public function for the industry after the Singapore...
Continue Reading • 28 Dec 2011
More local investors look to offshore properties
With the bleak outlook on local property prices, more local investors are eyeing offshore properties, said industry watchers and real estate agents. According to a PropertyGuru survey, 19 percent of over 1,737 respondents polled were “tempted” to invest overseas, up from 14 percent in...
Continue Reading • 28 Dec 2011
Collective sales surpass S$3b mark
The value of collective sales for this year has surpassed the S$3 billion mark, strongly driven by the sale of smaller sites.According to data from Credo Real Estate, about 49 sites were sold in 2011 for a total of S$3.04 billion — a significant increase from the 36 sites sold for S$1.77...
Continue Reading • 28 Dec 2011