URA awards residential site to highest bidder
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Jalan Loyang Besar/Pasir Ris Rise to a consortium comprising Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Oriental Worldwide Investments Inc.The consortium offered the top bid of S$140.96...
Continue Reading • 11 Oct 2011
Property auction sector affected by negative sentiment
The economic situation in the Euro Zone and the US has weakened investor sentiment in the property auction market, according to a recent report by Jones Lang LaSalle (JLL).The property consultancy firm revealed that auction transaction volumes fell in Q3 2011 to the same low in Q1 2009.It noted...
Continue Reading • 11 Oct 2011
FICO, CoreLogic to develop new US credit risk scoring solutions
Mortgage lenders will soon have access to a prospective borrowers’ financial history, such as inquiries to pay-day lenders, previous rental applications and child support payments — all factors which will be taken into account for a new credit score.CoreLogic, a leading provider of...
Continue Reading • 11 Oct 2011
MAS expected to slow currency appreciation
Economists are expecting the Monetary Authority of Singapore (MAS) to slow the country’s currency appreciation when it releases its mid-year monetary policy statement on 14 October.“In the past few weeks, the situation in the global economy has deteriorated sharply, exacerbated by...
Continue Reading • 11 Oct 2011
Circle Line now fully up and running
The Circle Line rail network is now fully operational, with the opening of the remaining 12 stations from Caldecott to HarbourFront last Saturday. Claiming the lives of four people during a highway collapse in 2004, the 28-station train line took an entire decade to complete. The line stretches...
Continue Reading • 10 Oct 2011
MGallery makes UK debut
MGallery unveiled its first establishment in the UK with the inauguration of St Ermin’s Hotel, led by Kristin Scott Thomas, the collection’s ambassador, on 6 October 2011.Located in St James in central London, St Ermin’s Hotel features 331 rooms designed by architect Dayna Lee,...
Continue Reading • 10 Oct 2011
Thai developers halting projects
Many developers in Thailand are halting their developments on certain properties due to their financial results, according to Property Report.The financial results, which were better than expected, was not the only reason for the delays, as developers are also waiting for the amendment to labour...
Continue Reading • 10 Oct 2011
Australand to delist from SGX tomorrow
Australand Property Group, a wholly-owned subsidiary of CapitaLand, has announced that its exit offer has been completed and it will be delisted from the Singapore Exchange Securities Trading Limited (SGX) on 11 October 2011.“Australand will be delisted from the SGX with effect from 9:00am...
Continue Reading • 10 Oct 2011
Fixed-rate home loans gain steam in Singapore
With higher interest rates looming, borrowers are looking to fixed rate loans for security. The three-month Sibor, or interbank rate, closed at 0.38 percent on 7 October, approximately 12 percent more than its 0.34 percent closing on 9 September. DBS Bank said 20 percent of new borrowers...
Continue Reading • 10 Oct 2011
Housing market will stabilise, says PM Lee
The Singapore government should be able to “stabilise” the local housing market within the next four years, said Prime Minister Lee Hsien Loong, in a speech to mark the completion of a S$48.3 million upgrading effort in a housing project in Ang Mo Kio.In his speech, PM Lee said that...
Continue Reading • 10 Oct 2011
HK home buyers cautious to commit
Prospective home buyers in Hong Kong are being cautious about the secondary market, in anticipation of housing measures to be announced on Wednesday.According to Midland Realty, only eight transactions were recorded at 10 residential projects over the weekend, reflecting a third consecutive week...
Continue Reading • 10 Oct 2011
GCB market sees lower Q3 sales
Despite lower good class bungalow (GCB) sales in the third quarter this year, some property agents remain upbeat that the buyer-seller price gap will narrow and lead to more deals in GCB areas in the next three to six months.According to CB Richard Ellis’ analysis of caveats data, there...
Continue Reading • 10 Oct 2011
S'pore property sector underweight: S&P
Standard & Poor’s (S&P) has labelled Singapore’s property sector “underweight”, noting that the private property market can anticipate a correction of five to 10 percent.The major supporting factor lies in the low interest rates, which permits affordable mortgage...
Continue Reading • 7 Oct 2011
Germany gains property buyers' trust
Germany is earning property buyers' trust after making its debut on a list of the top 10 most popular property destinations, according to this month's Top of the Props report from TheMoveChannel.com.The report said Germany has climbed four places in the overseas property portal's rankings to take...
Continue Reading • 7 Oct 2011
Higher prices for landed homes in Q3
Landed home prices in Singapore grew at a faster pace than those of non-landed homes in the third quarter of this year, according to DTZ Research.Average resale prices of leasehold landed homes in non-prime districts grew 3.8 percent quarter-on-quarter in Q3, while average resale prices of...
Continue Reading • 7 Oct 2011
Allgreen set to launch Phase 2G of Pavilion Park
Allgreen Properties Ltd plans to release Phase 2G of its Pavilion Park project off Bukit Batok Road.“To date 432 units have been released for sale, of which 430 units have been sold. The strong response at the various launch stages underpins buyers’ strong demand for landed housing. I...
Continue Reading • 7 Oct 2011
Former DBS Land CEO to build mixed project in Chengdu
Former DBS Land CEO Han Cheng Fong has announced his decision to develop a 3.1 million sq ft mixed commercial project on his own in China.“This is the first project I am doing on my own,” he said. “In the past, I have worked for fairly large companies, with a lot of financial...
Continue Reading • 7 Oct 2011
China's property cooling measures proving effective
After nearly two years of government efforts to curb the property market, China’s housing prices may likely fall to within home buyers’ reach.Home purchases are falling in many cities and many developers are affected by higher borrowing costs and the credit crunch. Several analysts...
Continue Reading • 7 Oct 2011
Aussie borrowers prefer fixed-rate loans
Many Australians seeking home loans are leaning towards fixed rate mortgage products, according to an industry expert.Kristy Sheppard, company spokesperson for Mortgage Choice, noted that 45 percent of the home loans purchased in September fell into this category. She stressed that most consumers...
Continue Reading • 7 Oct 2011
S'pore ranks 9th on list for most global property deals
Singapore has secured ninth position on a list of 25 cities which have gained the most real estate investment, comprising industrial, office, hotel, retail and serviced apartment properties but excluding development sites.According to Cushman & Wakefield’s latest report, the country has...
Continue Reading • 6 Oct 2011