Govt pledges to improve older estates
Prime Minister Lee Hsien Loong yesterday reiterated the government’s commitment to improve the conditions and amenities in older housing estates like East Coast and Yishun.Speaking at the opening of My Waterway@Punggol, PM Lee said that the government will coordinate with the community and...
Continue Reading • 24 Oct 2011
CapitaLand's Q3 profit down, but company upbeat about future
Southeast Asia’s largest property developer, CapitaLand, has recorded a net profit of S$80.2 million in the third quarter, down 83 percent from S$460.1 million a year ago.CapitaLand said the decline in Q3 income was mainly attributed to lower contributions from Australia and China, as well...
Continue Reading • 24 Oct 2011
Housing curbs to continue in China
Despite progress made in containing both housing prices and inflation, China will continue to implement nationwide curbs on the housing market, according to Premier Wen Jiabao.“The government must take effective measures to consolidate the fruits of housing price controls,” he said,...
Continue Reading • 24 Oct 2011
US mortgage rates steady
Long-term mortgage rates in the US were relatively steady in the week after reports noted mixed signals on the health of the economy, according to a Freddie Mac survey.Rates were restricted from an uptrend in light of mixed economic data, two weeks after the 30-year fixed mortgage dropped 3.94...
Continue Reading • 21 Oct 2011
Orchid Hotel Singapore up for sale
The Orchid Hotel Singapore in Tanjong Pagar has been put on the market with an indicative price of S$250 million and above.This works out to at least S$920,000 per room for the 272-room hotel, which has a remaining leasehold period of 95 years.Tom Oakden, Executive Vice-President of Investment...
Continue Reading • 21 Oct 2011
Another property agent charged in court
A second property agent was charged in court yesterday for allegedly working as a property salesman without being registered with the Council for Estate Agencies (CEA).Raymond Sim Soon Leong, 30, was also accused of not obtaining a written agreement with Savills Singapore for him to...
Continue Reading • 21 Oct 2011
Govt monitoring home buying activity of foreigners
The government is closely monitoring foreign acquisition of private homes and will take further measures if needed, said National Development Minister Khaw Boon Wan.“We are monitoring market conditions closely and, if need be, we will take further measures. For landed property, we have...
Continue Reading • 21 Oct 2011
Ascott Reit Q3 DPU up 21%
Ascott Residence Trust (Ascott Reit) has announced that its distribution per unit (DPU) for the third quarter rose by 21 percent, fuelled by the 28 serviced residence properties added to its portfolio last year.“This is mainly attributable to the yield-accretive acquisition of the 28...
Continue Reading • 21 Oct 2011
Bangkok buyers demand clarity from government
Bangkok’s condominium market has been severely curtailed as a result of lingering doubts about the government’s incentive policy for first home buyers, according to Colliers International Thailand.In its latest research report, Colliers noted that approximately 3,000 units were...
Continue Reading • 20 Oct 2011
Keppel Land's Q3 net profit hits S$58m
Keppel Land, a wholly-owned subsidiary of Keppel Corporation, has reported a 6.6 percent increase in its Q3 net profit to S$58 million, mainly attributed to higher earnings from property developments and the introduction of a new accounting policy.The company implemented the policy in January...
Continue Reading • 20 Oct 2011
Govt willing to build over 100,000 flats
The government will assist newlyweds with a combined monthly salary of less than S$10,000 to obtain their first Build-to-Order (BTO) flats, said National Development Minister Khaw Boon Wan, adding that the government is capable of constructing over 100,000 flats.In parliament yesterday, Mr Khaw...
Continue Reading • 20 Oct 2011
Cooling measures here to stay, says Khaw
Singapore’s property cooling measures will stay and the government will continue to release more land sites to meet private housing demand, said National Development Minister Khaw Boon Wan.In his speech to parliament yesterday, Mr Khaw said private housing currently makes up 23 percent of...
Continue Reading • 20 Oct 2011
UK remortgage deals to evaporate as economy recovers
Low remortgage rates in the UK will soon be a thing of the past, as the economy begins its path to recovery. The weak economy is postponing any increase in the Bank of England’s standard base interest rate to its normal level. Experts believe that as soon as the economy strengthens, the...
Continue Reading • 20 Oct 2011
Flora Drive site attracts 8 bids
A residential site at Flora Drive has received a total of eight bids in a public tender that closed yesterday. Realty Consortium Pte Ltd submitted the highest offer at S$163 million (around S$361 psf ppr).This will “translate to a breakeven cost of about S$680 to S$700 psf,” said Li...
Continue Reading • 20 Oct 2011
Beijing to build more affordable homes
The city of Beijing plans to construct more affordable homes that can be rented to low-income earners in order to ease property demand and inflation, according to officials.Under new rules announced by the local government, the city will build approximately 60,000 state-subsidised homes that can...
Continue Reading • 20 Oct 2011
My focus is on first-timers and vulnerable, says Khaw
In parliament yesterday, National Development Minister Khaw Boon Wan shared plans to improve Singapore's housing issues.He said the most pressing priority is to focus on newly-wed first-timers and vulnerable families in the first two years. Not forgetting the other groups of home buyers - the...
Continue Reading • 20 Oct 2011
Expats drive Bangkok apartment rentals
Demand from Bangkok’s expatriates for apartment rentals in downtown Bangkok remains strong, driven by limited supply and a preference for apartments over condominiums.Property consultant CBRE revealed there are approximately 12,000 apartment units in downtown Bangkok at present, and less...
Continue Reading • 19 Oct 2011
Call for HDB to go back to basics
Mr Lim Wee Kiak, Member of Parliament for Nee Soon, has told the parliament that prices of HDB flats have risen, and urged the HDB to go “back to basics”.He wants the government to ensure that homeownership is the HDB’s top priority and offered his own suggestions as well.Mr Lim...
Continue Reading • 19 Oct 2011
The Westin Singapore Marina Bay to open in 2013
Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and resort operators worldwide, has announced the opening of The Westin Singapore Marina Bay in 2013.Owned by one of MGPA’s managed funds, the new hotel will occupy the 32nd to 46th floors of Asia Square Tower 2 and...
Continue Reading • 19 Oct 2011
UK mortgage market still below pre-crisis levels
Mortgage approvals in the UK have risen for four consecutive months, with new landlords playing a significant role in boosting the number to 35,226 in August, according to new figures released by the British Bankers’ Association (BBA).“The banks’ new lending has ticked up in the...
Continue Reading • 19 Oct 2011