Upper Serangoon residential site to see moderate demand
A residential site at the junction of Upper Serangoon Crescent and Upper Serangoon Road has been launched for sale.Proposed for condominium housing, the land site has a total area of 24,620 sq m, with a maximum gross floor area (GFA) of 86,170 sq m and a gross plot ratio of 3.5. It can yield up...
Continue Reading • 28 Jul 2011
S'pore luxury home market remains stable, says JLL
Singapore’s luxury prime market remained stable in the second quarter, as home buyers stayed cautious after recent cooling measures implemented by the government, according to a report from global real estate services firm Jones Lang LaSalle (JLL).“Despite the low interest rates...
Continue Reading • 28 Jul 2011
Andrew Road GCB up for sale
A two-storey bungalow at 10 Andrew Road has been launched for sale through a public tender.Located in the Caldecott Hill Estate Good Class Bungalow (GCB) area, the house has a land area of 11,357 sq ft and includes a swimming pool.Credo Real Estate, which is marketing the property, said the...
Continue Reading • 28 Jul 2011
Australand net profit up 17% in H1
Australand Property Group, a wholly-owned Australian unit of CapitaLand, has announced that its net profit in the first half of 2011 rose 17 percent to A$84.8 million, while its operating profit climbed seven percent to A$64.9 million.Bob Johnston, Managing Director of Australand, said the...
Continue Reading • 28 Jul 2011
World famous architect to design Bishan condo
CapitaLand Residential Singapore has appointed renowned international architect Moshe Safdie as the lead designer of its Bishan Central condominium project.The new residential development will feature 540 units and is a five-minute walk from the Junction 8 shopping mall and Bishan transportation...
Continue Reading • 27 Jul 2011
LTA awards contracts to build MRT stations
Three civil contracts worth S$582.07 million were awarded yesterday by the Land Transport Authority (LTA) for the construction of stations on Downtown Line Stage 3 (DTL3).One of the contracts is for the construction of the Tampines station, while the other two are for the construction of the...
Continue Reading • 27 Jul 2011
UK mortgage fraud on the rise
The number of fraud cases in the UK climbed 10 percent in the first half of 2011, driven mostly by mortgage borrowers who had failed to disclose previous addresses, in an attempt to hide their adverse credit histories.According to the latest Fraudscape Bulletin from CIFAS, mortgage borrowers also...
Continue Reading • 27 Jul 2011
Jones Lang LaSalle reports solid revenue growth
Global real estate services firm Jones Lang LaSalle (JLL) has posted strong revenue growth and earnings for the second quarter, achieving a net income of US$44 million, compared with US$32 million over the same period last year.JLL said the Q2 results include US$6 million in restructuring and...
Continue Reading • 27 Jul 2011
PropertyGuru wins trademark dispute against iProperty
The Kuala Lumpur Regional Centre for Arbitration (KLRCA) has ruled in favour of PropertyGuru, regarding the ownership of the domain name “propertyguru.com.my”.The ruling came after AllProperty Media Pte Ltd (the owner of PropertyGuru) filed a complaint against the registration and use...
Continue Reading • 26 Jul 2011
4444 new private homes sold in Q2
Around 4,444 new homes have been sold in Q2 2011, compared to the 3,595 units sold in Q1 and 3,969 units fewer than the 8,413 units sold over the same period last year.“Of the 4,444 units sold in Q2, 2,732 units (61.4 percent) were located in OCR,” said Li Hiaw Ho, Executive Director...
Continue Reading • 26 Jul 2011
Govt curbs hit HK mortgage market
New home loan applications in Hong Kong dropped 30.3 percent to 11,913 in June, as the government's cooling measures took effect.According to the Hong Kong Monetary Authority (HKMA), the total amount of new home loans approved dropped 16 percent to HK$26.6 billion in June. Of the mortgages...
Continue Reading • 26 Jul 2011
LaSalle appoints Paul Guest as new head of research
LaSalle Investment Management has appointed Paul Guest as its new Head of Research and Strategy for Asia Pacific effective 1 September 2011.He will be working with the Global Strategy team, which analyses regional economies and property markets, as well as capital markets in 150 metropolitan...
Continue Reading • 26 Jul 2011
Frasers Hospitality buys another serviced residence in Australia
Frasers Hospitality is eyeing Australia’s serviced residence market, given its latest acquisition of a serviced apartment complex in Melbourne, according to The Business Times.Frasers has acquired 115 studio units in the former Cube Serviced Apartments and plans to rebrand it as Fraser...
Continue Reading • 26 Jul 2011
Megaprojects, foreign investment to boost Thailand's property market
Thailand’s real estate market is booming, with resort areas and markets in Bangkok expected to experience its biggest growth yet, according to Knight Frank’s research.Frank Khan, Director of Residential Development at Knight Frank, said he is optimistic of the new government’s...
Continue Reading • 26 Jul 2011
Singapore inflation up again
Singapore’s consumer price index (CPI) surged to 5.2 percent in June, close to January’s peak of 5.5 percent, fuelled by higher housing, food and transport costs.According to the Department of Statistics, rising inflation can be attributed mainly to housing and transport costs, which...
Continue Reading • 26 Jul 2011
Savills, CKH merge property management business
Savills has announced that its Singapore-based Savills Property Management business unit has merged with CKH Strata Management to establish an industry leader specialising in property, asset and facilities management.“This is a strategic merger that offers a clear ‘win-win’...
Continue Reading • 26 Jul 2011
PropertyGuru acquires Thailand's DDProperty
Singapore’s leading online property portal, PropertyGuru, has acquired Thailand’s DDProperty Investing, which owns www.ddproperty.com, for THB80 million, in a bid to expand its footprint in the country’s online property market.“This partnership happened because both...
Continue Reading • 25 Jul 2011
URA grants provisional permission for several projects
Several projects in Singapore have secured provisional permission (PP) from the Urban Redevelopment Authority (URA) in the second quarter.In the central business district (CBD), a Tuan Sing unit obtained PP to develop an office / retail project on Robinson Road. The development comprises 380 sq m...
Continue Reading • 25 Jul 2011
HK secondary home sales at seven-week high
Secondary home sales in Hong Kong are experiencing a seven-week high, as more home owners are now reducing their asking prices.Midland Realty said recent transactions among 10 residential projects rose from 16 a week ago to 27, the highest in seven weeks since June, when the government introduced...
Continue Reading • 25 Jul 2011
Mortgage fraud in the US continues
Using fake signatures on mortgage documents, also known as "robo-signing”, remains widespread in the US, more than eight months after major banks and mortgage lenders promised to put an end to the illegal practice, which has led to a nationwide suspension of home foreclosures.According...
Continue Reading • 25 Jul 2011