CityDev shares gain as interest rates expected to stabilise
City Developments (CityDev) shares surged by as much as 2.8 percent on 1 August, fuelled by hopes that interest rates will stabilise in the months after US policy-makers agreed to a deal to cordon off a default, traders said.The property developer’s shares were sold at S$10.85, with...
Continue Reading • 2 Aug 2011
China home prices continue to rise, but at slower pace
Home prices in China rose at the slowest rate in 11 months in July, following the government’s additional efforts to reduce the risk of a property bubble, according to SouFun Holdings Ltd.Residential prices last month rose 0.2 percent from June, marking the slowest increase since August...
Continue Reading • 2 Aug 2011
Aussie mortgage customers to pay less
Mortgage customers in Australia will be paying less for their homes in capital cities, as the cost of accommodation declined on-year in the first half of 2011.According to the latest RP Data Home Value Index, June marked the sixth consecutive month in which capital cities in Australia experienced...
Continue Reading • 2 Aug 2011
DPM Teo says Singapore is on steady growth path
Deputy Prime Minister Teo Chee Hean believes that Singapore’s economy will grow steadily in the coming year but warned of uncertainties in other countries which could impact Singapore.He cited concerns in regions and countries such as Europe, Japan and the United States, which have a domino...
Continue Reading • 1 Aug 2011
Shoebox units popular with singles and expats
Shoebox apartments (units which are less than 500 sq ft in size) are becoming an increasingly popular choice among young singles and expatriate professionals in Singapore.Property consultants believe they offer healthy yields of three to four percent, depending on the project, while residential...
Continue Reading • 1 Aug 2011
PropNex staff to shave Hair for Hope
To raise funds for the Children’s Cancer Foundation (CCF), PropNex Realty’s Chief Executive Mohamed Ismail, together with more than 30 staff and salespeople, will have their heads shaved on 2 August.As one of the country’s leading real estate agencies, the company is pledging...
Continue Reading • 1 Aug 2011
New home loan volumes fall 4.2% in Q2
The volume of new loans approved in the second quarter dropped 4.2 percent, indicating that the government’s property cooling measures have affected demand for new mortgages.According to the Monetary Authority of Singapore (MAS), around S$12.86 billion in new housing loans were approved in...
Continue Reading • 1 Aug 2011
New conveyancing measures start today
A new set of rules intended to better protect clients’ conveyancing money from misappropriation will take effect today. Under the new rules, lawyers are no longer allowed to receive and hold their clients’ conveyancing money. Those who violate this new rule could face a penalty of up...
Continue Reading • 1 Aug 2011
GCB sales slow in July
Sales of good class bungalows (GCBs) in July continued to dry up after the slowdown witnessed in the first half of this year, according to agents surveyed by The Business Times.Last month, only one caveat in a GCB area was lodged — a unit at Andrew Road that sold for S$8.88 million...
Continue Reading • 1 Aug 2011
CBRE revenue climbs 21%
Real estate services firm CB Richard Ellis (CBRE) saw continued strong growth in Q2 2011, as revenue climbed 21 percent to US$1.4 billion, from US$1.2 billion over the same period last year.Net income improved 12 percent to US$61.2 million in Q2, from US$54.8 million a year ago, while earnings...
Continue Reading • 1 Aug 2011
Ascott Reit gets permission to redevelop site
Ascott Residence Trust has obtained provisional permission from the Urban Redevelopment Authority (URA) for the redevelopment of Somerset Grand Cairnhill Singapore into an integrated hotel-and-residential project.“We are pleased to have obtained provisional Outline Planning Permission to...
Continue Reading • 29 Jul 2011
Aussie Gen Yers get early start on property investment
A recent survey showed that the majority of Generation Y Australians are planning in advance to secure home loans for investment properties. Mortgage Choice’s report showed that 43 percent of this age group are planning to undertake this option for their initial property venture.“Our...
Continue Reading • 29 Jul 2011
Surbana acquires Chengdu residential site for S$126m
Township developer Surbana Corporation has acquired a residential site in Chengdu, China for 677 million yuan (S$126 million) through a public tender.Located in the Swan Lake Area, the site is roughly 15 km southeast of the city centre. It has a total area of 804,000 square feet and will generate...
Continue Reading • 29 Jul 2011
Lacklustre sentiment amongst property players
Property market sentiment among property players fell in the second quarter, with the slowdown most evident in the suburban residential segment, according to a recent survey by the National University of Singapore (NUS) and the Real Estate Developers' Association of Singapore (REDAS).Wong Heang...
Continue Reading • 29 Jul 2011
Price index for shoebox units revealed
Price increases for shoebox units have been outperforming gains in overall apartment prices since the real estate market recovery after the global financial crisis.The latest indices from NUS’ Institute of Real Estate Studies (IRES) revealed that the sub-index for prices of completed...
Continue Reading • 29 Jul 2011
Lian Beng's net profit jumps to S$48.18m
Singapore-based building construction company Lian Beng Group announced that its profit for the full year ending June 2011 has doubled to S$48.18 million, from S$24 million a year ago, mainly attributed to strong performance from its construction and property developments, as well as its...
Continue Reading • 29 Jul 2011
HK govt to increase residential land supply
Kai Tak Development Area in Hong Kong will provide residential land in 2013, while the government will continue to offer such land across Hong Kong, said Permanent Secretary for Development (Planning and Lands) Thomas Chow.Chow said that the government is pushing ahead with infrastructure works...
Continue Reading • 29 Jul 2011
Frasers to launch Phase 3 of London project in Singapore
Frasers Property, the international property arm of Singapore-based Frasers Centrepoint Limited (FCL), is launching Phase Three of its Riverside Quarter residential project in London this weekend at St Regis Singapore.According to The Business Times, the first two phases, comprising 204...
Continue Reading • 29 Jul 2011
Majority of Singaporeans still feel properties are expensive
Home buyers and real estate investors are less optimistic about property affordability than they were in the first quarter of this year, according to the results of a survey on property market sentiment, compiled by PropertyGuru.The survey shows that 79 percent of all respondents believe property...
Continue Reading • 28 Jul 2011
US mortgage applications drop as interest rates rise
Home loan applications in the US have declined, along with an increase in fixed mortgage rates, according to the latest figures released by the Mortgage Bankers Association (MBA).The MBA’s weekly mortgage applications survey showed that total mortgage applications dropped 5.0 percent in the...
Continue Reading • 28 Jul 2011