Interest-free loans will help low income Thais
The Government Housing Bank (GHB) in Thailand has offered interest-free loans of up to THB1 million (US$32,082) for the first three years, aimed at helping low-income home buyers.The GHB has allocated up to THB20 billion (US$641.6 million) for the programme, which was financed through government...
Continue Reading • 6 Oct 2011
Pacific Mansion up for en bloc sale
Pacific Mansion, a 128,353.16 sq ft residential site at River Valley Close, has been put up for en bloc sale with an indicative price of S$990 million (around S$2,008 psf ppr).The freehold site comprises 288 residential units and two commercial units. It has a gross floor area (GFA) of 45,821.88...
Continue Reading • 6 Oct 2011
New York takes top spot from London for real estate investment
For the first time since 2007, New York has snatched the lead from London as the number one destination for real estate investment, after improved access to financing led to more US deals, according to Cushman & Wakefield Inc.Data compiled by the New York-based broker and Real Capital...
Continue Reading • 6 Oct 2011
Will new policies boost Myanmar's property market?
Although Myanmar remains distinctly off the radar for most property investors, new pro-development economic policies have the potential to take the country’s real estate sector in a new direction, according to the first Yangon market report published by Colliers International...
Continue Reading • 6 Oct 2011
More HK properties sold at discount prices
A growing number of property owners from mainland China are unloading their Hong Kong flats to increase liquidity, even selling their assets at a discount, said a number of property agents. Centaline property agency noted that 20 percent more flats went on sale at projects near the Kowloon...
Continue Reading • 6 Oct 2011
Bukit Merah hotel site goes on sale
The Urban Redevelopment Authority (URA) put up a hotel site at Jalan Bukit Merah / Alexandra Road for sale by public tender yesterday.The site was made available for sale through the reserve list system on 16 August 2007.According to the URA, the land parcel was put up for tender after an unnamed...
Continue Reading • 6 Oct 2011
Loyang residential site gets S$141m top bid
The tender for a 99-year leasehold residential site at Jalan Loyang Besar / Pasir Ris Rise has received a total of 13 bids.Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Oriental Worldwide Investments Inc jointly submitted the highest offer at S$140.96 million.A consortium comprising UOL...
Continue Reading • 5 Oct 2011
Colliers survey reveals property investor caution in Asia
Property investors in Asia are more reluctant than their counterparts in other regions, according to Colliers International’s Global Investor Sentiment Survey 2011.The international property consultancy group said a significant 77 percent of the respondents in Asia expressed intentions to...
Continue Reading • 5 Oct 2011
US borrowers to get new discounts
US mortgage lenders are introducing discounts and promotions in light of falling mortgage rates to lure reluctant home buyers. However, critics believe the latest offers fall short of the best deal for borrowers — lower rates.A growing number of lenders, from banks to credit unions, are...
Continue Reading • 5 Oct 2011
Rough seas ahead for China developers
Approximately half of the estimated 20,000 commercial real estate firms in China may be out of business in the next three to five years, as the central government tightens housing market policies, according to Yifan Hu, Chief Economist and Head of Research at Haitong International Research Ltd....
Continue Reading • 5 Oct 2011
SDB sells 9 units at Hijauan project
Nine units at Hijauan on Cavenagh have been sold over the past two weeks, at an average price of between S$2,200 psf and S$2,500 psf, said its developer Selangor Dredging Berhad (SDB).According to a Business Times report, eight units were sold to Malaysian buyers while the other unit was bought...
Continue Reading • 5 Oct 2011
S'pore prime rents fall for first time in nearly 4 years
Housing rents in prime areas have dropped for the first time in nearly four years, as uncertainty in the global economy meant fewer executives are being hired, according to Jones Lang LaSalle (JLL). The global property consultancy firm said average rents in Districts 9, 10 and 11 fell 1.4 percent...
Continue Reading • 5 Oct 2011
Paramount Hotel renamed in S$30m makeover
Far East Hospitality, the hospitality arm of Far East Organization (FEO), has announced that Paramount Hotel will be renamed East Village Hotel, following upgrading and refurbishment works that will cost approximately S$30 million.Located at Marine Parade and East Coast Road, the 102,685 sq ft...
Continue Reading • 5 Oct 2011
UK country house market still struggling
The UK prime country real estate market has struggled to keep up with London, as average prices have fallen by 1.7 percent in the past year. Liam Bailey, Knight Frank’s Head of Residential Research, noted that more reliance on domestic buyers and the economy are the keys to understanding...
Continue Reading • 5 Oct 2011
Property investment sales drop sharply in Q3
Property investment sales hit S$4 billion in the third quarter, down 55 percent quarter-on-quarter, the lowest level since Q1 2010, according to a report published by DTZ Research.DTZ attributed this mainly to the decline in the stock market and global uncertainties.The bulk of investment sales...
Continue Reading • 5 Oct 2011
Rail Corridor chosen as project name for former railway land
After much discussion and deliberation to arrive at a project name for the upcoming development on the former railway land, members of the Rail Corridor Consultation Group (RCCG) have decided to call the project the “Rail Corridor”.The project’s final name was announced by Tan...
Continue Reading • 4 Oct 2011
Govt making good progress in meeting flat demand: Khaw
In his latest blog entry, National Development Minister Khaw Boon Wan said the most recent launch of Build-To-Order (BTO) and Sale of Balance (SBF) flats in September is “making good progress” in meeting housing needs.In the post entitled “Light at End of Tunnel”, Mr Khaw...
Continue Reading • 4 Oct 2011
Singapore can soon boast of world's first Hermes apartment
Singapore will soon be home to the world’s first Hermes apartment, following a collaboration between property developer SC Global Developments and the French luxury house.SC Global said that a spacious 6,232 sq ft five-bedroom apartment unit in the Signature Tower of The Marq on Paterson...
Continue Reading • 4 Oct 2011
Residential investment sales up 23% this year
Real estate investment sales in Singapore’s residential property market hit $10.6 billion year-to-date, up 23 percent over the same period last year, according to a report released by CB Richard Ellis (CBRE).However, residential investment sales represented $2.0 billion in the third...
Continue Reading • 4 Oct 2011
Aussie consumers keen on fixed-rate deals
Mortgage buyers in Australia are turning to fixed-rate loans as they seek refuge from volatile investment markets and banks slashing rates to boost their lending business.According to a new survey, demand for such mortgages increased last month, coinciding with measures by a number of lenders to...
Continue Reading • 4 Oct 2011