2 GCBs sold at surprisingly high prices
Two good-class bungalows (GCBs), one in Tanglin Hill and the other in Victoria Park Road, have been sold for a total of S$105 million.According to The Strait Times, both properties were acquired by Singaporeans. The two-storey Tanglin Hill bungalow was sold for S$57 million (approximately S$1,648...
Continue Reading • 29 Nov 2011
New flyovers to open in December
Two new flyovers connecting traffic between the CTE and PIE will open next month. On 3 December, the southbound CTE flyover towards the city will open from 3am, while the northbound flyover will open on 17 December from 6am.The Land Transport Authority (LTA) said the opening of the two flyovers...
Continue Reading • 29 Nov 2011
Non-landed private home prices rise 0.9%
Prices of non-landed private homes in Singapore climbed 0.9 percent in October 2011, according to the monthly Singapore Residential Price Index (SRPI) compiled by the National University of Singapore (NUS).The index, which tracks month-on-month prices of completed projects in the country,...
Continue Reading • 29 Nov 2011
Cordea Savills launches London residential fund for Asians
International property fund manager Cordea Savills has launched the Prime London Residential Development Fund to give Asian investors an alternative means of investing in London’s residential market.With a weakening pound and low inflation, more Asian investors, particularly from China,...
Continue Reading • 29 Nov 2011
China property prices decline further
China’s real estate market is starting to cool, with property sales falling 24 percent month-on-month in October and 14 percent over the same period last year.Property developers struggling for funds suspended further land acquisitions and construction, which sent shock waves through the...
Continue Reading • 29 Nov 2011
Aussie mortgage buyers face negative equity concerns
A rising number of Australian home buyers searching for the best loan packages may face growing negative equity concerns. Lisa Montgomery, Chief Executive at Resi Mortgage, revealed that many providers stopped granting 95 percent home loans during the financial crisis, but they have started up...
Continue Reading • 29 Nov 2011
Bleak outlook for Singapore property
Singapore’s property sector may soon face difficult times, as Standard Chartered Bank’s latest report has stated a bearish outlook for the market.According to the bank’s analysts, prices and rents of residential properties in Singapore will drop by 30 percent over the next three...
Continue Reading • 28 Nov 2011
Ascott Reit buys stake in Citadines Shinjuku Tokyo
Ascott Residence Trust (Ascott Reit) has acquired a 60 percent stake in Citadines Shinjuku Tokyo from Mitsubishi Estate Co Ltd and Citadines Shinjuku Ippan Shadan Hojin for S$45.7 million.“The acquisition of Citadines Shinjuku is a rare opportunity to add a quality purpose-built serviced...
Continue Reading • 28 Nov 2011
US mortgage applications rise
Mortgage applications among home buyers in the US have increased on the back of record low mortgage rates. However, there was a 1.2 percent slowdown last week in overall mortgage activity, according to the Mortgage Bankers Association (MBA).The rise in mortgage activity for home purchases,...
Continue Reading • 28 Nov 2011
Singapore, HK developers are overvalued, says report
The latest report from DMG & Partners Research describes property developers in Singapore and Hong Kong as overvalued.“Developer ROEs (return on equity) should fall significantly from 2010 to 2112, and share prices should follow,” said Craig Irvine, Chief Regional Strategist at...
Continue Reading • 28 Nov 2011
Olina Lodge goes en bloc again
Olina Lodge, a freehold property located at 15 Holland Hill, has been re-launched for collective sale with an indicative price of S$220 million.This translates to S$1,544 psf ppr, including 10 percent balcony space, according to property consultant DTZ, the sole marketing agent.It added that the...
Continue Reading • 28 Nov 2011
URA rules set to reduce house prices
Prices of landed homes in Kovan, Telok Kurau, and Joo Chiat are expected to fall by 10 to 20 percent after the Urban Redevelopment Authority (URA) announced new development guidelines, according to TODAYonline.The rules, which took effect last Thursday, imposed a minimum 1,000 sq m plot size for...
Continue Reading • 28 Nov 2011
Top speakers gather for charity event
Fourteen of Asia’s leading wealth creation and motivational speakers are banding together to raise funds for victims of recent flooding disasters in Thailand, Cambodia and the Philippines. The Learn-A-Thon 2011 will take place today - Monday, November 28, at Kallang Theatre. Entrance to the...
Continue Reading • 28 Nov 2011
HSBC offers lower mortgage rate to first-timers in UK
HSBC is offering a new discounted mortgage rate for first-time home buyers in order to boost the UK housing market.The bank said first-time buyers who can only pay a 10 percent deposit can avail the 3.84 percent two-year discount deal with no payable fee. It claimed that this is the only mortgage...
Continue Reading • 25 Nov 2011
URA launches new building guidelines
The Urban Redevelopment Authority (URA) has put into effect guidelines on the maximum number of dwelling units (DU) for non-landed residential estates and a minimum land plot requirement of 1,000 sq m for flat developments throughout the country.The guidelines will only apply to new applications...
Continue Reading • 25 Nov 2011
Residential site at Chestnut Ave attracts 12 bids
The Urban Redevelopment Authority (URA) has closed the tender for a 99-year leasehold residential site at Chestnut Avenue.The 18,699.4 sq m land parcel attracted a total of 12 bids, reflecting “developers’ unfaltered confidence in the mass-market housing segment, such as the nearby...
Continue Reading • 25 Nov 2011
Private home sales fall 24.5% in Q3: DTZ
Demand for private homes in Singapore dropped in the third quarter of this year, as stock market volatility and global economic uncertainties affected purchase sentiment, according to DTZ Research. Private home transactions declined 24.5 percent quarter-on-quarter to 6,879 units in Q3 2011, as...
Continue Reading • 25 Nov 2011
Singapore, Malaysia companies encouraged to tap cross-border market
Trade and Industry Minister Lim Hng Kiang has urged Singaporean and Malaysian companies to grab opportunities in both countries to reach a more competitive global position. With the uncertainties in the global economic climate, the two neighbours should find collaborative niches in services and...
Continue Reading • 25 Nov 2011
Is Geylang a good place to invest?
Geylang is probably the last place in Singapore that any property investor would look at due to the bad reputation it has earned with its many massage parlours and sleazy nightlife.However, a study conducted by PropertyGuru revealed that Geylang offers good long term prospects for property...
Continue Reading • 25 Nov 2011
Keppel Land breaks ground on Phase 2 of Saigon Centre
Keppel Land, with its joint venture (JV) partners, Saigon Real Estate Corporation (RESCO) and Southern Waterborne and Transportation Corporation (SOWATCO), kicked off the highly-anticipated Phase Two of Saigon Centre with a ground-breaking ceremony held on-site at Ho Chi Minh City (HCMC). His...
Continue Reading • 25 Nov 2011