World Bank summit to be held next week in Singapore
The World Bank Group, a vital source of financial and technical assistance to developing countries around the world, has announced that it is conducting the third annual Singapore Infrastructure Finance Summit on 6 September 2011, with World Bank Group President Robert B. Zoellick and Singapore...
Continue Reading • 2 Sept 2011
PropertyGuru staff shave heads for children battling cancer
PropertyGuru, Singapore’s leading property portal, recently organised a head-shaving event for Hair for Hope (HfH) 2011, in conjunction with the Children’s Cancer Foundation (CCF) and the Braddell Heights CC Youth Club.Held at the Braddell Heights CC Youth Club on 31 August, the...
Continue Reading • 2 Sept 2011
Punggol Field condo site attracts 8 bids
The Housing & Development Board (HDB) closed the tender for a residential land parcel at Punggol Field Walk yesterday, after receiving a total of eight bids. The top offer was jointly submitted by Capital Development Pte Ltd and ZACD Investments Pte Ltd at S$169.56 million.“The top bid...
Continue Reading • 2 Sept 2011
Hong Kong tops global house price index
Property prices in Hong Kong climbed 26.5 percent in the last 12 months, recording the largest increase during the period, according to Knight Frank’s Global House Price Index. Based on Q2’s year-on-year price change, the latest price index also showed that Singapore was the ninth...
Continue Reading • 2 Sept 2011
Aussie fixed rate mortgages must be scrutinised carefully
Australians looking for home loans have been advised to consider all the consequences of signing up for fixed-rate home loans.Consumer Action Co-Chief Executive Officer Carolyn Bond clarified that these rates are practical for people who are certain they will be unable to handle an increase in...
Continue Reading • 2 Sept 2011
COV data should be scrapped, says SISV
The industry body representing Singapore’s property valuers has called for the removal of official data on cash premiums paid, also known as median Cash-Over-Valuation (COV), for Housing and Development Board (HDB) resale flats.COV is the difference the buyer pays in cash between the resale...
Continue Reading • 1 Sept 2011
Bank of America to divest correspondent mortgage business
Bank of America Corp (BoA, BAC.N) is planning to divest its correspondent mortgage business, selling segments of its home loans division, said a company spokesperson on 31 August. According to Dan Frahm, the largest bank in the US by assets has decided to leave the correspondent channel as it is...
Continue Reading • 1 Sept 2011
Riviera Point up for sale at S$70m
Riviera Point, a freehold property along River Valley, has been launched for sale with an indicative price of S$70 million.This translates to around S$1,420 psf ppr with no development charge (DC) payable. With an additional 10 percent balcony area, the psf price for the site could be reduced to...
Continue Reading • 1 Sept 2011
Yanlord Land sells 155 units of Sunland Gardens on first day of launch
Singapore-listed Yanlord Land Group, a property developer focused on developing high-end integrated commercial and residential property projects in China, has announced that it has sold 155 (around 60.32 percent) of the 257 units at Yanlord Sunland Gardens in Shanghai.Launched at an average price...
Continue Reading • 1 Sept 2011
Wing Tai posts healthy net profit rise
Wing Tai Holdings Limited, one of the leading high-end residential property developers in Singapore, has posted a 148 percent increase in its net profit to S$170.6 million for the fourth quarter ended 30 June 2011.For the financial year ended 30 June 2011, the group recorded a net profit of...
Continue Reading • 1 Sept 2011
MND revises DC rates for new projects
The Ministry of National Development (MND) has revised the development charge (DC) rates for new building projects in Singapore, effective from today to 29 February 2012.Under the latest revisions, the average DC rates for commercial developments increased by 22 percent, with the biggest rise of...
Continue Reading • 1 Sept 2011
Chatsworth bungalow sells at $22m record price
The Good Class Bungalow (GCB) market is moving slowly but a new record price was set when a bungalow at No 6 Chatsworth Road changed hands for S$22 million (around S$2,038 psf).According to The Business Times, the property was acquired by Cheong Sim Lam, whose family was behind the development of...
Continue Reading • 1 Sept 2011
Award of tender for residential site at Serangoon Garden Way
A residential land parcel at Serangoon Garden Way has been awarded by the Urban Redevelopment Authority (URA) to Sunmaster Holdings Pte Ltd and Garden Estates (Pte) Limited. The two groups jointly submitted the top bid of S$105 million (S$3,696.99 psm of site area) in a public tender that closed...
Continue Reading • 31 Aug 2011
UK mortgage approvals up in July
The number of approvals for home loans in the UK rose in July, with approximately 49,239 mortgages granted, according to the Bank of England (BoE).This marks a three-month streak and a three percent gain from July last year.Lending also rose to £6.9 billion in July, from £6.7 billion...
Continue Reading • 31 Aug 2011
The Meyerise preview set for September
Hong Leong Holdings will be conducting a preview for The Meyerise, a freehold residential development in the East Coast, next month, with a starting price of S$1,400 psf.Located at Meyer Road, The Meyerise will comprise 239 units across two 31-storey blocks. It will offer two-, three-, four- and...
Continue Reading • 31 Aug 2011
Sim Lian's full-year profit up a robust 113%
Sim Lian Group has posted a 113 percent increase in its net profit to S$200.3 million for the full year ended 30 June 2011. The group noted that its earnings climbed from S$93.9 million last year, attributed to increased revenue from its property division.The company’s annual revenue also...
Continue Reading • 31 Aug 2011
S'pore resale home prices record slower growth in July
Prices of non-landed resale homes registered slower growth in July, primarily driven by the stronger price increase of shoebox units.But even the prices of these small units, normally around 500 sq ft or below, grew at a slower rate of 1.4 percent, compared with 2.4 percent in June.The Singapore...
Continue Reading • 31 Aug 2011
Price growth slowing for upgrader segment of private homes market
The private residential market’s upgrader segment will likely witness slower price growth, according to Wing Tai Chairman Cheng Wai Keung.This is due to the maturity of the upcycle in the segment, as well as the higher risk of impact from public housing policy revisions.Instead, more price...
Continue Reading • 31 Aug 2011
Property auctions slump during Hungry Ghost Festival
August has been a quiet month for the property auction market in Singapore, as only a handful of investors put up their property for sale during the Hungry Ghost Festival.According to data from Colliers International, of the 34 properties launched for auction this month, a terrace house at Da...
Continue Reading • 31 Aug 2011
The Marq condo sets S$19m price record
A 3,003 sq ft four-bedroom unit at The Marq on Paterson Hill has been snapped up by an overseas buyer for a whopping S$19 million.The posh condo project near Orchard Road had already set a record price after a similar unit was sold for S$5,842 psf in May this year. However, the latest sale easily...
Continue Reading • 31 Aug 2011