Singapore mortgage debt comes out tops in Asia
Singapore has the highest level of outstanding mortgage debts compared to other countries in the region, according to the recent semi-annual East Asia and Pacific Economic update released by The World Bank. According to the report, home loans in the city state accounted for 52 percent of its...
Continue Reading • 24 Nov 2011
Over 350 units sold at Bedok Residences on day 1
CapitaLand sold over 350 of the 583 units at Bedok Residences on the same day it was launched, with 66 units snapped up within the first hour. The developer said it achieved an average selling price of around $1,350 psf for the project.“The strong sales numbers demonstrate that the queue...
Continue Reading • 24 Nov 2011
TA Corp clinches S$271m in building contracts
Newly-listed property firm TA Corporation, through its wholly-owned subsidiary Tiong Aik Construction Pte Ltd, has clinched two new construction deals worth S$271 million from Allgreen Properties and its subsidiary.The first contract is for a proposed condo development at Upper Serangoon Road...
Continue Reading • 24 Nov 2011
REDAS appoints new CEO
The Real Estate Developers' Association of Singapore (REDAS) has appointed Lee Suan Hiang as its new Chief Executive Officer.“With his extensive network and experience, Lee Suan Hiang is eminently qualified,” said REDAS President Wong Heang Fine.“Mr Lee had a distinguished...
Continue Reading • 24 Nov 2011
Far East unveils SOHO brand
Far East Organization (FEO), yesterday unveiled its latest brand, Far East SOHO.Set to redefine SOHO-style living in Singapore, Far East SOHO features a collection of modern SOHO apartments that will cater to the growing demand in Singapore.“As pioneers of Singapore’s first SOHO...
Continue Reading • 24 Nov 2011
Inflation up 5.4% in October
Inflation slowed down slightly in October, registering a year-on-year increase of 5.4 percent last month.However, it continues to remain at a high level, attributed mainly to higher accommodation, private road transport and food costs.According to the Department of Statistics, transport costs...
Continue Reading • 24 Nov 2011
320 units sold at The Palette
Property developer City Developments Limited (CDL) announced that 320 of the 400 units released at The Palette condo in Pasir Ris have been sold.The 892-unit development was launched on 12 November, with units priced at an average early bird rate of S$870 psf. However, prices have since been...
Continue Reading • 24 Nov 2011
Toronto's LIFE Condominiums to be showcased in Singapore
Canadian property developers Chestnut Hill Homes and A2A Properties recently launched their first and exclusive residential project in Toronto, Canada, called LIFE Condominiums Designed by the acclaimed Quadrangle Architects, the mid-rise condominium development features 149 suites, which include...
Continue Reading • 24 Nov 2011
Students paid to queue outside Bedok project
Some 500 people had formed a long queue outside Bedok Residences since Sunday.Most of the people in the queue were students who were paid by property agents representing potential buyers keen on the project, said ERA, the appointed marketing agent for Bedok Residences.It added that only those...
Continue Reading • 24 Nov 2011
Lease Buyback Scheme to be reviewed
National Development Minister Khaw Boon Wan announced that his ministry will review the Lease Buyback Scheme to include four- and five-room flats.The scheme aims to help lower-income senior citizens in their retirement years, since downgrading may not be feasible due to the high...
Continue Reading • 24 Nov 2011
Singapore a property hotspot for Malaysian investors
More Malaysians are looking to invest abroad, with Singapore as a hot property destination, according to Malaysia’s leading property portal, HomeGuru, in its latest quarterly consumer sentiment survey.24 percent of the over 2,800 respondents expressed interest in investing overseas, with...
Continue Reading • 24 Nov 2011
Thomson residents will get compensation for NSE works
Residents in the Thomson area whose property will be affected by the 5.6 km North-South Expressway (NSE) will receive more assistance, according to a report in The Straits Times.Law Minister K. Shanmugam said affected residents will receive 40 percent of the compensation amount upfront to help...
Continue Reading • 23 Nov 2011
UK mortgage revisions warmly received
Prime Minister David Cameron has announced a taxpayer- and industry-backed insurance scheme that will shield mortgage lenders from defaulting borrowers.The aim is for banks to get smaller deposits on mortgages which will attract more home buyers.Following the financial crisis, mortgage...
Continue Reading • 23 Nov 2011
China may ease property curbs in 2012
China will likely ease some property market curbs in 2012, following predictions that slumping prices could affect economic growth, according to a Renmin University report. China introduced various measures to reduce property prices last year, including a hike in the minimum down payment for...
Continue Reading • 23 Nov 2011
Capitol Development set to push the luxury envelope
A consortium comprising Perennial (Capitol) Ltd, Chesham Properties Ltd and Top Property Investment Ltd held a ground-breaking ceremony to mark the commencement of Capitol Development, which includes the redevelopment of the Capitol Theatre, Capitol Building and Stamford House conservation sites...
Continue Reading • 23 Nov 2011
Quality housing still exists, says DPM Teo
Despite the rising population in Singapore, people can still get quality and affordable housing, according to Deputy Prime Minister Teo Chee Hean.“Even as our city becomes more populated, we can still, with good design and planning, build facilities for our residents,” he said in his...
Continue Reading • 22 Nov 2011
MAS to offer more guidance on Reits
In an effort to boost corporate governance standards, the Monetary Authority of Singapore (MAS) has announced that it will offer further regulatory guidance to the real estate investment trust (Reit) industry.While not highlighting specific companies, MAS made the announcement in response to...
Continue Reading • 22 Nov 2011
S'pore households more resilient to economic crisis
Singaporean households are more resilient and can weather the uncertain global economy.The Monetary Authority of Singapore (MAS), in its Financial Stability Review for November, revealed that household capital was driven by rising property prices. The “broad-based growth of the...
Continue Reading • 22 Nov 2011
The Ascott wins contracts to manage China properties
The Ascott Limited, the serviced residence division of CapitaLand, has secured contracts to manage two properties in China. The properties include the 71-unit Somerset Victoria Park Hong Kong and the 186-unit Ascott M-City Foshan, which will open in 2013 and 2016 respectively.Lim Ming Yan,...
Continue Reading • 22 Nov 2011
Australia's central bank happy with current mortgage rates
A top executive from the Reserve Bank of Australia (RBA) noted that the central bank is satisfied with the current level of mortgage rates.In a recently concluded securitisation conference, Guy Debelle, Assistant Governor of the RBA, who was asked about the central bank’s position on...
Continue Reading • 22 Nov 2011