CDL sells another 115 units at Blossom Residences
City Developments Ltd (CDL) has sold another 115 units at Blossom Residences at Segar Road to second-time buyers or upgraders, increasing the number of total units sold to 319.Located along Segar Road at Bukit Panjang, the 602-unit executive condominium (EC) project is priced from S$548,000 for a...
Continue Reading • 10 Aug 2011
Boathouse Residences units snapped up despite cautious buying
About 90 units at Boathouse Residences, a Soho-concept apartment project at Upper Serangoon View, have been snapped up.Jointly developed by Far East Organization (FEO), Frasers Centrepoint and Sekisui House, the 99-year leasehold private condo features 493 residential units and one shophouse. The...
Continue Reading • 10 Aug 2011
S'poreans should save for rainy days: Khaw
Global economic uncertainties have affected Singapore and Singaporeans need to “save for a rainy day”, said National Development Minister Khaw Boon Wan.Delivering his message yesterday on the sidelines of a national day observance ceremony in Sembawang, the minister called on...
Continue Reading • 8 Aug 2011
Reits look good, especially for young investors
Real estate investment trusts (Reits) are considered one of the most accessible means of gaining exposure in the Singapore real estate market.“Young investors, who are constrained in capital, and yet would like to invest in real estate, could consider Reits as an alternative investment...
Continue Reading • 8 Aug 2011
US credit downgrade could adversely affect mortgage market
The US mortgage market, which has been supported by the government, could be affected by the country’s recent credit downgrade, with the possibility of a hike in borrowing costs for consumers.Karen Shaw Petrou, Managing Partner of Federal Financial Analytics, said that the...
Continue Reading • 8 Aug 2011
KSH Holdings posts Q1 net profit of S$2.7m
KSH Holdings Limited (KSH), one of Singapore’s leading property developers, has posted a net profit of S$2.7 million on the back of a total revenue of S$40.8 million in the first quarter ended 30 June 2011.“I am pleased to report that the group has achieved bottom-line performance of...
Continue Reading • 8 Aug 2011
NTUC-IEA partnership to benefit real estate professionals
With the signing of an agreement between the Institute of Estate Agents (IEA) and the National Trades Union Congress (NTUC), around 1,800 IEA members can now get subsidies for training courses.The partnership enables members to enjoy the privileges offered by both NTUC and IEA with a single...
Continue Reading • 8 Aug 2011
Higher fair value gains fuel SingLand's strong Q2 results
Singapore Land's net profit surged almost four times to S$273.3 million in the second quarter, fuelled by higher fair value gains on investment properties, despite increasing capital values.The company achieved fair value gains on investment properties of S$247.6 million in Q2, up from S$10.1...
Continue Reading • 8 Aug 2011
Heeton revenue rises 4%
Niche property developer Heeton Holdings has announced that its revenue for the first six months of 2011 rose four percent to S$17.8 million, from S$17.1 million over the same period last year.This was largely attributed to proceeds from the sales of its residential developments like The Lumos...
Continue Reading • 8 Aug 2011
Economic jitters hurting HK property market
The worsening US and European debt crisis is affecting the property market outlook.Homeowners in Taikoo Shing, a benchmark project in Hong Kong, were unable to draw buyers, even after reducing their asking prices by up to 20 percent.Gary Wong, District Agent at Ricacorp said, “It is...
Continue Reading • 8 Aug 2011
Ascott to expand portfolio in India
Singapore-based The Ascott Ltd is expanding its presence in Indian cities such as New Delhi, Mumbai and Pune, with its US$250 million investment in seven upcoming properties. “India is an important market for us. There is a big untapped demand but limited supply of serviced...
Continue Reading • 8 Aug 2011
Glomac luring Singapore buyers with new Msia projects
Malaysian property developer Glomac Bhd is showcasing three of its residential projects at its Singapore gallery in SGX Centre, according to Malaysia Property Inc (MPI).The developments are Glomac Damansara Residences and Mutiara Damansara Residences in Selangor, as well as Suria Residen in Kuala...
Continue Reading • 8 Aug 2011
More Singaporeans looking to India for good property deals
More Singapore buyers are setting their sights on properties in India, according to a Q2 survey done by PropertyGuru. The survey, which featured over 2,200 respondents found that 14% of those considering overseas property investments listed India as their top pick, behind Malaysia (37 percent)...
Continue Reading • 5 Aug 2011
PropertyGuru launches revamped FullHouse website
PropertyGuru, Asia's leading property portal company, along with its Malaysian offshoot HomeGuru, has launched the revamped Northern Malaysia property website, Fullhouse.com.my.FullHouse unveiled its new website, which was redesigned and enhanced to offer improved features and functionality for...
Continue Reading • 5 Aug 2011
Koh Brothers net profit up 25% to S$6.7m
Koh Brothers Group Ltd, an established construction, property development and specialist engineering solutions provider, has achieved a 25 percent increase in net profit to S$6.7 million in the first half of the year.The group’s profit before income tax rose 37 percent to S$8.8 million,...
Continue Reading • 5 Aug 2011
URA gets strong support for changes to Housing Developers Act
The Urban Redevelopment Authority (URA) announced that it has strong support for the proposed amendments to the Housing Developers (Control & Licensing) Act (HDCLA) and Housing Developers Rules (HDR).In a statement published yesterday, the URA said it received feedback from more than 100...
Continue Reading • 5 Aug 2011
Grand Tower at Novena fetches S$88.5m
Grand Tower in Novena has been sold for S$88.5 million (S$1,376 psf ppr), to 27MR Pte Ltd, a wholly-owned subsidiary of New Century Real Estate.With a total area of 21,742 sq ft, the freehold development site can potentially accommodate a new high-rise residential property with a maximum...
Continue Reading • 5 Aug 2011
CapitaLand Q2 profit up 17%, sees growth prospects in Asia
Southeast Asia’s largest real estate company, CapitaLand, posted a net profit of S$399.0 million in the second quarter of 2011, up 17 percent from S$339.7 million over the same period last year.Revenue for the quarter also increased 25 percent to S$740.4 million, while earnings before...
Continue Reading • 5 Aug 2011
Bangkok property market bullish despite bubble threat
The property boom in Bangkok continues, despite some experts’ fears of a property bubble, with the development of a new 77-storey tower that could grab the title of Bangkok’s tallest tower. Scheduled to be completed in 2014, the MahaNakorn’s unique design is expected to stand...
Continue Reading • 5 Aug 2011
Aussie mortgage sales slide amid concerns of rate hike
Mortgage sales in Australia dropped 3.7 percent in July, amidst concerns of a hike in interest rates and the implementation of a carbon tax, according to a major broker.The Australian Finance Group (AFG) Mortgage Index indicated the most noticeable decline was in Victoria at 7.4 percent, followed...
Continue Reading • 5 Aug 2011