Chinese investors prefer funds to property
Many Chinese investors favour funds and other investment products over property, according to the People’s Bank of China quarterly survey.In a survey of 20,000 individuals in 50 cities across mainland China, only 16.5 percent listed property as their primary investment choice, a decrease of...
Continue Reading • 28 Dec 2011
Blumont Group cancels planned acquisition of Heritage Residences
Investment holding company Blumont Group Ltd announced that its wholly-owned subsidiary, Raintree Rock Sdn Bhd, has agreed with Bluwater Developments Bhd to terminate the planned acquisition of the latter’s Heritage Residences, a serviced residence development in Selangor, Malaysia.The...
Continue Reading • 28 Dec 2011
Priority to be given to second-time home buyers next year
Second-time home buyers might get their new homes sooner next year, as Minister for National Development Khaw Boon Wan announced his intention to help this group of buyers, according to an AsiaOne report.The minister noted that last year, first-time home buyers were given priority in getting...
Continue Reading • 27 Dec 2011
REDAS, stakeholders assess cooling measures
Looking into the impact of the latest round of property cooling measures, the Real Estate Developers’ Association of Singapore (REDAS) has engaged in series of meetings with various industry players, according to The Business Times. REDAS met recently with stakeholders such as property...
Continue Reading • 27 Dec 2011
Inflation figures grow higher than expected
Ending the generally gloomy economic year, inflation for November has reached higher levels than expected, amid deepening concerns over slow economic growth, according to the Straits Times.Exceeding market expectations of 5.3 percent, the report noted that consumer prices surged by 5.7 percent...
Continue Reading • 27 Dec 2011
China to expand property tax reforms next year
China will widen its pilot property tax programme next year while speeding up resource tax reforms, according to Finance Minister Xie Xuren.“We will summarise the experience from property tax reforms being experimented with and steadily push forward the reforms,” said Xie.Officials...
Continue Reading • 27 Dec 2011
CapitaLand completes acquisition of Indian company
CapitaLand, Southeast Asia’s largest property group, announced that it has completed the acquisition of the remaining 60 percent interest in Rattha Somerset Whitefield Hospitality Private Ltd, which owns a site in Bangalore that will be developed into new serviced residences.The acquisition...
Continue Reading • 27 Dec 2011
Pollux Properties acquires Geylang Rd property
Pollux Properties, through its indirect, wholly-owned subsidiary, Pollux Treasures, has acquired a property at Geylang Road for S$25 million.The company said the property comprises a residential-cum-commercial building situated on a 1,350.2 sq m plot of freehold land. It has a maximum plot ratio...
Continue Reading • 27 Dec 2011
US mortgage interest rates hit new low
The average rates on 30-year fixed mortgages in the US hit a new low of 3.91 percent last week, down from 3.94 percent in the preceding week, according to Freddie Mac.It added that average rate of 15-year fixed mortgages remained at its record low of 3.21 percent, compared with 4.15 percent a...
Continue Reading • 27 Dec 2011
Ascott unit to manage CapitaMall Wusheng's serviced residences
Ascott Property Management (Shanghai) (APMS) has been appointed the manager and technical adviser for CapitaMall Wusheng's serviced residences.Under the management agreement, APMS will manage the property under the Somerset brand for an initial renewable term of 10 years. It will also provide...
Continue Reading • 27 Dec 2011
Majority of S'poreans still feel homes too expensive
If the results of a recent PropertyGuru real estate affordability sentiment survey are anything to go by, the majority of home buyers in Singapore should be satisfied with the latest government cooling measures.Carried out in cooperation with market research firm, Blackbox Research, the survey...
Continue Reading • 23 Dec 2011
2 new projects entice local buyers
Two new projects, The Nautical in Sembawang and The Hillier (pictured) in the Hillview area, have pushed ahead with their previews, while most property developers consider whether or not to release new projects following the implementation of the additional buyer's stamp duty this month.Both...
Continue Reading • 23 Dec 2011
PropertyGuru appoints three more heavy hitters
PropertyGuru, the number one property portal in Asia, has appointed three industry heavyweights to key regional positions within the company.The new senior hires include Douglas Gan, ‘Strategy Guru’, Andrew Batt, Regional Group Editor (pictured) and Sarah Baker, Regional Head of...
Continue Reading • 23 Dec 2011
Lower plot prices in HK shock experts
Two property sites in Hong Kong – one in Lantau and the other in Hung Hom – have fetched far lower prices than earlier predicted, surprising many real estate experts.A 24,326 sq ft residential plot in Mui Wo, Lantau was sold to Sino Land for HK$55 million (S$9.16 million) or HK$1,113...
Continue Reading • 23 Dec 2011
S'pore construction sector expected to slow in 2012
Following two years of a construction boom and the recent government measures to curb property prices, OCBC expects the pace of construction demand to slow next year, according to a report by Singapore Business Review. However, OCBC noted that the slowdown will likely pick up from demand in the...
Continue Reading • 23 Dec 2011
CapitaLand gains majority stake in Vietnamese tower
CapitaLand, Southeast Asia’s largest property firm, announced that its wholly-owned subsidiary, Vibrant Coral Overseas Inc, has completed the acquisition of a 90 percent stake in Somerset Central TD Company Ltd (SCCL) in Vietnam.SCCL owns a tower of an existing integrated development in Hai...
Continue Reading • 23 Dec 2011
US mortgage rates hit another record low
Mortgage rates in the US hit another record low, with the average rate of 30-year fixed loans standing at 3.91 percent this week, down from 3.94 percent last week, according to the Primary Mortgage Market Survey released by Freddie Mac.Frank Nothaft, Chief Economist at Freddie Mac, said rates...
Continue Reading • 23 Dec 2011
City Developments faces challenges ahead: OCBC
With the predicted slowdown in housing demand next year, three high-profile City Developments (CDL) projects face roll-out problems. OCBC believes the developer will pause before it launches Nouvel, an EC in Choa Chu Kang and the Lucky Tower redevelopment next year.The slew of price falls and...
Continue Reading • 22 Dec 2011
URA releases 3 residential sites for sale
The Urban Redevelopment Authority (URA) has released three residential sites at Bedok South Avenue 3, Boon Lay Way and Jervois Road for sale this month, providing more private housing choices to both developers and home buyers. The land parcels at Jervois Road and Bedok South Avenue 3 are under...
Continue Reading • 22 Dec 2011
Keppel Land under pressure on China market uncertainty
As China’s housing restrictions and the fallout of prices hurt the profitability of Keppel Land’s (KPLD) approximately 7,000 home portfolio in 2012, the developer will be caught between two strategies — either slash prices or accept slower sales, according to OCBC.This...
Continue Reading • 22 Dec 2011