Parc Vera condo set for weekend launch
Parc Vera, a 452-unit condominium development in Hougang, is set to be launched tomorrow. Comprising four 18-storey residential towers, Parc Vera offers two- to four-bedroom units, as well as two-bedroom-plus-study units and penthouses. Sizes range from 710 sq ft for a two-bedroom unit to...
Continue Reading • 28 Oct 2011
Thai floods to change property sector
The flooding which has swamped large parts of Thailand is likely to have a substantial and long-lasting impact on property purchase decisions, according to one industry expert. Aliwassa Pathnadabutr, Managing Director of CBRE Thailand, told PropertyGuru: “The flooding will result in changes...
Continue Reading • 28 Oct 2011
House price growth continues to slow: URA
Prices of private residential properties in Singapore climbed 1.3 percent in the third quarter, lower than the 2.0 percent increase in Q2, according to the latest Q3 2011 property statistics from the Urban Redevelopment Authority (URA).“This was the eighth consecutive quarter in which the...
Continue Reading • 28 Oct 2011
Wing Tai's profit hits S$25.1m
Wing Tai Holdings has announced that its net profit climbed 3.81 times to S$25.1 million in the first quarter, from S$6.58 million over the same period last year.Meanwhile, Q1 revenue jumped 59 percent to S$108.97 million, boosted by the additional number of units sold at Helios Residences at...
Continue Reading • 28 Oct 2011
Brisbane is Australia's cheapest property location
Australian home buyers planning to take out a mortgage to acquire low-cost property are being advised to consider Brisbane, the most affordable location in mainland Australia, according to a report from RP Data.The largest price drop over the previous quarter was recorded in Queensland, with the...
Continue Reading • 28 Oct 2011
Regulator hints at tougher global mortgage standards
Global regulators have proposed, in draft guidelines published on 26 October, that lenders verify the capability of a borrower to repay a home loan and enforce stricter limits on amounts lent. The Financial Stability Board (FSB), a regulatory body for the world’s G20 economies, commented...
Continue Reading • 27 Oct 2011
SavillsCKH appointed to oversee new projects
SavillsCKH, one of the leading property and asset management service providers in Singapore, has received new appointments from management corporations and developers of several residential and commercial developments.The appointments came from various projects, including Clover By The Park, Twin...
Continue Reading • 27 Oct 2011
PropertyGuru launches revamped Rumah.com portal
PropertyGuru, Asia’s leading online property portal network, has launched a rebranded www.Rumah.com, Indonesia’s number one property website, as part of plans to target the growing number of wealthy Indonesians looking to buy overseas property.“Indonesians are one of the major...
Continue Reading • 27 Oct 2011
Asia's luxury residential capital values down 0.2% in Q3
Average capital values across luxury residential markets in Asia dropped 0.2 percent in the third quarter of this year, according to the latest Residential Index from Jones Lang LaSalle (JLL).JLL added that price growth has steadily slowed from the 7.4 percent quarter-on-quarter rise recorded in...
Continue Reading • 27 Oct 2011
EC site in Yishun draws top bid of S$213.78m
The tender for an executive condominium (EC) site located at the junction of Yishun Avenue 7 and Canberra Drive was closed on Tuesday, with a total of eight bids received.According to the Housing and Development Board (HDB), MCC Land (Singapore) Pte Ltd submitted the top bid of S$213.78 million...
Continue Reading • 27 Oct 2011
Clementi DBSS launch a crowd puller
Reflecting the strong demand for new DBSS projects, close to 800 applications were received for the 888-unit Trivelis at Clementi Avenue 4 as of 11pm yesterday.According to a Straits Times report, there was a long queue of potential buyers waiting to enter the showflat and those inside jostled...
Continue Reading • 27 Oct 2011
Ascott to manage its first serviced residence in Iskandar
The Ascott Limited (Ascott), a wholly-owned subsidiary of CapitaLand, has secured a contract from Nusajaya Consolidated Bhd to manage the Somerset Puteri Harbour Iskandar, its first serviced residence in Iskandar, Malaysia.Scheduled to open in 2013, the 204-unit project will be developed in a new...
Continue Reading • 27 Oct 2011
New DBSS project at Clementi launching tomorrow
Trivelis, a new 888-unit Design, Build and Sell Scheme (DBSS) project at Clementi Ave 4, will be launched tomorrow by EL Development.The three 40-storey towers comprise three- to five-room flats with sizes ranging from 646 sq ft (three-room) to 1,130 sq ft (five-room).More than half of the flats...
Continue Reading • 27 Oct 2011
Consortium acquires two residential sites in Zhuhai
A consortium comprising Yanlord Land, Ho Bee Investment and Shanghai Youyou has successfully acquired two adjacent prime residential development sites in Zhuhai through a public land auction for three billion yuan (S$595 million).With a combined gross floor area (GFA) of 499,329 sq m, the land...
Continue Reading • 25 Oct 2011
Shanghai homeowners stage protest on price reductions
A few homeowners in Shanghai protested outside the sales offices of China Overseas Property Group Co over the weekend, following the developer’s move to cut its property prices after units were purchased, according to the Shanghai Daily.With prices of units at a project in Pudong reduced...
Continue Reading • 25 Oct 2011
Singapore's first ever Sofitel hotel to open in 2013
Singapore's first Sofitel hotel, the Sofitel So Singapore, will launch in early 2013, with Royal Group Holdings contributing up to S$130 million, including the S$86 million it paid for the Robinson Road site during a public tender in January.The hotel, which will include 135 rooms and suites,...
Continue Reading • 25 Oct 2011
Aussie lenders jockey for position
The end of the decades-long credit frenzy, coupled with increasing competition among banks, has helped reduce market interest rates this year, said the Reserve Bank of Australia (RBA).Ric Battellino, Deputy Governor at Australia’s central bank, said the renewed tendency of Australian...
Continue Reading • 25 Oct 2011
First Reit's Q3 distributable income soars 125.7%
First Real Estate Investment Trust (First Reit) has announced that its distributable income for the third quarter surged 125.7 percent to S$12.08 million, from S$5.35 million over the same period last year.This was boosted by the S$8.7 million gained from the divestment of its Adam Road property,...
Continue Reading • 24 Oct 2011
UK households enjoy mortgage windfall
Around 1.8 million households in the UK saved approximately £2,600 per year by reverting to their lender’s standard deal after the expiration of their original fixed-term loan, according to the Council of Mortgage Lenders (CML).The amount of savings is unusual, as lenders’...
Continue Reading • 24 Oct 2011
Inflation to remain at around 5.7%: DBS
With food and COE prices increasing, along with wage pressures, inflation appears to be “not only sticky but (is) becoming more broad-based, averaging at five percent”, according to DBS.The bank expects September’s inflation rate to mirror that of August.Despite the 2.1 percent...
Continue Reading • 24 Oct 2011