Cheap UK home loans to cause price war
Barclays, one of the UK’s biggest lenders, has launched its cheapest mortgage deal in 15 years, with the average rate for two-year fixed mortgages at 2.49 percent for existing Woolwich customers and 2.54 percent for others.This was the sixth consecutive cut by Barclays, and property experts...
Continue Reading • 19 Jul 2011
A scary market forecast for Ghost Month
The Hungry Ghost Festival, which falls between 31 July and 28 August, may come with its usual scares, but property developers face a more serious problem. Even before the festival kicks off, various factors have already weighed down on private home buying response.“The Ghosts’ Month...
Continue Reading • 19 Jul 2011
CapitaLand sells property in China for S$205.8m
CapitaLand Ltd has announced that its wholly owned subsidiary, Ascott Investment Ltd, has sold Ascott Beijing to Splendid Wealth Group, a wholly-owned subsidiary of the Ascott Serviced Residence (China) Fund, for S$205.8 million.The property comprises 310 apartment units and is located within...
Continue Reading • 19 Jul 2011
More Chinese cities to face home purchase curbs
Dandong, Jilin, Nanchang, Qinhuangdao and Shenyang will be on the list of second- and third-tier mainland cities to face home purchase limits.The Ministry of Housing and Urban-Rural Development have been driven to put a limit on home purchases in small- and medium-sized cities as a result of...
Continue Reading • 19 Jul 2011
HK to reintroduce subsidised housing
The Hong Kong government is planning to reintroduce the development of subsidised flats, said Chief Executive Donald Tsang on 15 July.Prices of apartment units in the city-state have climbed 12 percent since the start of the year, according to real estate agency Centaline, mainly attributed to...
Continue Reading • 18 Jul 2011
Private home sales drop sharply in June
Sales of private homes in June dropped 25 percent month-on-month to 1,182 units, excluding Executive Condominiums (EC).This means a total of 4,562 units were transacted in Q2 2011, about 27 percent more than the 3,595 new homes sold in the previous quarter.“It is not surprising to see the...
Continue Reading • 18 Jul 2011
Khaw promises KTM greenery will be preserved
Singapore’s KTM railway will be dismantled starting today, with Minister for National Development Khaw Boon Wan assuring the public of the preservation of the greenery surrounding the railway. He said that after the tracks have been taken apart, segments of the path will be reopened...
Continue Reading • 18 Jul 2011
New deal to boost LaSalle's Aussie property assets
Global real estate investment firm LaSalle Investment Management is acquiring Australian fund manager Trinity Funds Management in a bid to increase its Australian assets to A$5 billion (S$6.5 billion) by 2016.With Trinity Funds Management’s A$9.3 million price tag, LaSalle is expected to...
Continue Reading • 18 Jul 2011
Australian bank to slash mortgage rates
As Australia’s St George bank will be replaced by the Bank of Melbourne (BoM) next week, it also plans to unveil a new strategy that could slash over one percent of mortgage rates for customers who bring across other accounts.St George bank will be switching to the new Bank of Melbourne...
Continue Reading • 18 Jul 2011
Tharman foresees global economic slowdown in 2011
Singaporeans should prepare themselves for the effects of a sluggish world economy in the coming months, according to Deputy Prime Minister Tharman Shanmugaratnam.However, he said that local economic fundamentals are still intact and that a major world crisis similar to the one in 2008 is...
Continue Reading • 18 Jul 2011
S'pore luxury home prices shoot up by 20%
Despite the property cooling measures announced in January, prices of luxury units have risen a staggering 20 percent to S$7.9 million, according to Kim Eng, in a report by Singapore Business Review.“While the average price per unit in all the other segments declined, in the luxury segment,...
Continue Reading • 18 Jul 2011
Far East plans S$500m REIT IPO
Far East Organization (FEO), one of the leading real estate developers in Singapore, will likely raise at least S$500 million through the listing of some of its hotel and serviced residence assets in a real estate investment trust (Reit) next year, according to sources with direct knowledge of...
Continue Reading • 15 Jul 2011
CapitaLand eyeing Ophir-Rochor area buildings
CapitaLand, the manager of a mixed-development project in the Ophir-Rochor area, is considering the possibility of purchasing some components of the project.“We are in the midst of discussing with both Khazanah and Temasek arising from this involvement by us what our take-away (can...
Continue Reading • 15 Jul 2011
S'pore developer to break into Thai market
Singapore-based property developer Dalvey Developments Ltd plans to invest US$33 million (THB1 billion) to develop condominiums in Thailand over the next year.Over the past six years, Dalvey Developments has completed three condo projects in Bangkok, which include Haus 23 Ratchada-Lat Phrao in...
Continue Reading • 15 Jul 2011
MRT work near Maplewoods to move ahead
The development of MRT Downtown Line 2, adjacent to Maplewoods condominium along Bukit Timah Road, will continue in a few days, after having been delayed for a month due to the protests of affected residents.Dr Vivian Balakrishnan, MP for the Holland-Bukit Timah GRC, made the announcement to...
Continue Reading • 15 Jul 2011
Property agents wooing wealthy Chinese buyers
The growing number of cash-rich Chinese home buyers is providing Singapore property agents a wealth of opportunities. While other real estate agents are holding roadshows in China, some are taking a more aggressive approach, bringing potential buyers from China to Singapore for personalised tours...
Continue Reading • 15 Jul 2011
Google spearheading UK mortgage comparison site
Following the launch of the Google Adviser mortgage comparison site in the US in May, Google is also piloting a similar service in the UK, known as Compare UK Mortgages.The site works just like other mortgage comparison portals and has sponsored links from several lenders such as ING Direct,...
Continue Reading • 15 Jul 2011
Global hotel investments hit US$14.8b in H1
Global hotel investment volumes hit US$14.8 billion in the first half of the year, reflecting a 117 percent increase over the same period last year, according to global hotel investment services firm Jones Lang LaSalle Hotels.“Despite various natural, economic and political crises witnessed...
Continue Reading • 15 Jul 2011
China extends home purchase restrictions
China’s cabinet has expanded home purchase caps to more cities, reminding local governments to enforce measures to regulate the property market, in its latest move to cut back on property inflation. China has also ordered local governments to increase their efforts in building low-cost...
Continue Reading • 15 Jul 2011
US mortgage applications drop 5.1%
US mortgage applications dropped 5.1 percent, attributed to a decline in refinancing even as borrowing costs fell, according to a Bloomberg report.The Mortgage Bankers Association’s index showed that mortgage applications declined for the fourth straight week, while the refinancing measure...
Continue Reading • 14 Jul 2011