Private home prices edge up 2% in Q2
Private home prices in Singapore edged up 2.0 percent quarter-on-quarter in the second quarter, lower than the 2.2 percent increase in the first quarter, according to the Urban Redevelopment Authority’s (URA) real estate statistics for Q2 2011.The increase was more evident in the Outside...
Continue Reading • 25 Jul 2011
MAS won't take action against Global Logistic Properties
The Monetary Authority of Singapore (MAS) has decided not to take action against Global Logistic Properties (GLP) Ltd, after concluding its investigation into an omission in the firm’s initial public offer (IPO) prospectus filed last year.“MAS has carefully assessed the circumstances...
Continue Reading • 25 Jul 2011
New venture a boost for property investors and developers
REA Group, a leading digital real estate advertising company, has announced its plan to increase its Asian presence, to benefit international developers and property investors.Its Hong Kong-based real estate website, Squarefoot.com.hk, encourages property developers to invest in the growing Asian...
Continue Reading • 22 Jul 2011
UK mortgage approvals stable, according to survey
Major lenders in the UK expect home loan approvals to stay at their current rate in the coming months, while others predict more foreclosures this year, according to a survey conducted by the Bank of England (BoE).The bank’s quarterly Trends in Lending Report included recently released...
Continue Reading • 22 Jul 2011
En bloc properties above S$100m difficult to sell
Properties going for S$100 million and above are the most difficult to sell in the collective sales market this year, according to The Business Times.Data released by Credo Real Estate showed that plots that have been put up for sale only enjoyed a 51 percent success rate in the first half of the...
Continue Reading • 22 Jul 2011
Private home subsales up 10.6% to 712 units
The number of private homes sold in the subsales market climbed 10.6 percent to 712 units in the second quarter, according to Savills Singapore.However, the pace of increase in the second quarter was slower than the 27 percent jump reflected in the 4,562 new private homes sold by...
Continue Reading • 22 Jul 2011
MAS raises 2011 inflation forecast
Due to the unexpected hike in housing and car prices, the Monetary Authority of Singapore (MAS) has raised its inflation forecast by one percentage point to four to five percent.The consumer price index (CPI), which eased to 4.5 percent in April and May, is “expected to creep back up to...
Continue Reading • 22 Jul 2011
Banyan Tree looking to further expand in S'pore and China
Banyan Tree Holdings is on an expansion campaign marked by several firsts, such as the launch of its first Banyan Tree project in Singapore — a spa at Marina Bay Sands.“We've always wanted to do something in Singapore but because this is our home base, we've been quite selective....
Continue Reading • 21 Jul 2011
MPI's gallery to showcase KL's Mont' Kiara
Malaysia Property Inc (MPI) has signed a six-month tenancy agreement with Malaysia’s Ireka Corporation Bhd to lease the mezzanine floor of MPI Singapore's gallery at SGX Centre on Shenton Way.Ireka will use the space to showcase its latest residential development, Seni Mont' Kiara, from...
Continue Reading • 21 Jul 2011
Keppel Land's H1 net profit drops by 33.7%
Keppel Land, a property arm of Keppel Group, has announced that its net profit in the first half of 2011 dropped 33.7 percent to S$133.8 million, attributed mainly to the adoption of its revised accounting policy.“This new accounting standard will result in profit recognition that is lumpy,...
Continue Reading • 21 Jul 2011
Landed homes exclusive to Singaporeans
The government has announced that landed property in Singapore will be exclusive to Singaporeans.“The government takes a strict approach towards ownership of landed property in Singapore by PRs (permanent residents),” said Law Minister K Shanmugam, in a Business Times report.PRs...
Continue Reading • 21 Jul 2011
Fed fines Wells Fargo for US mortgage abuses
The Federal Reserve has determined that Wells Fargo should pay US$85 million in civil penalties for leading potential creditworthy borrowers to more costly subprime mortgages, according to a report by The Business Journal.However, Wells denied the allegations, which covered lending practices at...
Continue Reading • 21 Jul 2011
Thai properties attracting Hong Kong's super rich
Thailand has been attracting wealthy property investors from Hong Kong, as the city-state experiences continuous property price increases.“Bangkok is still a top-two destination for lifestyle in the eyes of investors in Hong Kong. Their interest in luxury Thai property is driven by a lift...
Continue Reading • 21 Jul 2011
Ascott adds another Indian serviced residence to its portfolio
The Ascott Limited has secured a serviced residence property in Bangalore through a leasing agreement. CapitaLand’s wholly-owned serviced residence unit will rebrand the property as Citadines Richmond Bangalore and manage it starting 1 August 2011.Located on Richmond Road in...
Continue Reading • 21 Jul 2011
Prices for new BTO flats not falling: Khaw
Comparing flat prices of last week’s Build-to-Order (BTO) launch directly to those launched in May and assuming that the prices of new HDB flats are falling is ill-advised, according to National Development Minister Khaw Boon Wan, in a report from The Straits Times.The minister added that...
Continue Reading • 21 Jul 2011
Hungry Ghost Festival may boost July home sales
Property developers are hoping that home buyers will purchase ahead of the Hungry Ghost Festival in August. Otherwise, overall market sentiment will be cautious.Chia Siew Chuin, Director of Research & Advisory at Colliers International, noted that while the end of the school holidays could...
Continue Reading • 21 Jul 2011
Sydney now Australia's prime property market
Potential home buyers should strongly reconsider investing in Sydney property, as the city has been described by an expert as one of the "bright stars on the horizon" in Australia’s property market. Residex analyst John Edwards said that he sees cause for concern in the...
Continue Reading • 20 Jul 2011
Unilever opens $32m leadership training facility
Unilever, an international consumer goods conglomerate, is preparing to further its Asian expansion with the groundbreaking of its global leadership training centre in Singapore.Aside from developing global talent, the facility is also meant to contribute considerably to the company’s goal...
Continue Reading • 20 Jul 2011
Prices of new Shanghai homes on the rise
Prices of new houses climbed in 67 cities in China last month, with Shanghai and Beijing witnessing growth for the first time since the central government implemented measures to cut back growth this year. In China’s capital, new home prices surged 2.2 percent in June from May’s...
Continue Reading • 20 Jul 2011
Tee International reports S$17.31m in FY2011 net profit
Fortified by a hefty order from its engineering division and larger contribution from its integrated real estate segment, Tee International reported that its net profit rose 52.2 percent to S$17.31 million for the financial year ending 31 May 2011, from S$11.38 million in the previous year....
Continue Reading • 19 Jul 2011