New conveyancing measures will start on Aug 1
The Ministry of Law has announced that new measures aimed at safeguarding the conveyancing of money will be implemented starting 1 August 2011.The new measures will protect clients' money and prevent lawyers from absconding with money from property transactions.Under the new measures, lawyers...
Continue Reading • 11 Jul 2011
Le Nouvel Ardmore unit sold for record price
Wing Tai Holdings Ltd has sold a unit at Le Nouvel Ardmore at 20 percent higher than the original estimate of S$3,500 psf, according to Singapore Business Review.“The unit at Le Nouvel Ardmore has been sold to a company owned by Mr Cheng Wai Kin, the brother of Wing Tai Chairman Cheng Wai...
Continue Reading • 11 Jul 2011
US govt implements new loan assistance package
The US government has launched a new federal housing programme which aims to help struggling homeowners catch up on their missed mortgage payments to avoid foreclosure.Under the zero-interest, forgivable loan, the Emergency Homeowners Loan Program (EHLP) will help approximately 30,000 distressed...
Continue Reading • 11 Jul 2011
Centaline opens first branch in Singapore
Centaline Property Agency Limited has launched a Singapore branch, as it sees the potential of the country’s property market.Aimed at bringing its all-rounded professional services to Singapore, Centaline opened its first branch at 2 Havelock Road. Its grand opening saw the attendance of...
Continue Reading • 11 Jul 2011
Frasers, Sekisui form JV to develop Sydney project
Frasers Centrepoint, the property arm of Fraser and Neave (F&N), has inked a joint venture (JV) agreement with Japan’s Sekisui House Australia Holdings Pty Ltd to develop the S$2.6 billion (A$2 billion) Central Park project in Sydney, a venture positively viewed by some analysts.The...
Continue Reading • 8 Jul 2011
S'pore's Q2 GDP data to be released next week
Singapore’s advance GDP estimates for Q2 will be released on 14 July, said the Ministry of Trade and Industry (MTI).Singapore’s economy grew 8.3 percent from the previous year and 22.5 percent on a seasonally adjusted quarter-on-quarter annualised basis in Q1 this year.However,...
Continue Reading • 8 Jul 2011
Foreigners account for 17.6% of Q2 property investment deals
Foreigners comprised 17.6 percent of the property investment transactions in the second quarter, up from 10.5 percent in the first quarter, according to a report published by DTZ Research.Overall, approximately S$8.3 billion in investment sales were recorded in Q2, slightly above the S$8 billion...
Continue Reading • 8 Jul 2011
London rents to continue to rise in 2011
Rents in Prime London areas have been rising above inflation rates for the past 18 months, according to global real estate services provider Savills.“After several years of steady, if unexciting growth, the prime central London market has experienced its most dramatic quarterly improvement...
Continue Reading • 8 Jul 2011
No need for more curbs on HK mortgage market: HSBC
The Hong Kong Monetary Authority (HKMA) does not need to impose any further tightening measures on the mortgage market as the existing policies are working, according to Mark McCombe, Chief Executive of Hong Kong Operations at HSBC.In a report by The Standard, McCombe said that the local property...
Continue Reading • 8 Jul 2011
Punggol EC site sees 3 bids
An Executive Condominium (EC) site at Punggol Way / Punggol Field received a total of three bids in a public tender that closed on 7 July.The top bid was jointly submitted by FCL Tampines Court Pte Ltd and Keong Hong Construction Pte Ltd at S$219.47 million. CEL Development Pte Ltd offered the...
Continue Reading • 8 Jul 2011
Thailand's property market growth depends on political stability
Thailand’s property market has experienced only marginal growth during its political crisis in the last six years, and a new government that could bring true stability would be an important factor towards the recovery of its property market, according to a research released by Jones Lang...
Continue Reading • 8 Jul 2011
Business confidence falls across the globe
Business sentiment worldwide has been steadily declining, according to two separate reports published on 6 July by two research firms, based on a survey conducted among a number of companies. The Remuneration Data Specialists (RDS) and 2011 Grant Thornton International Business Report (IBR)...
Continue Reading • 8 Jul 2011
Advanced VIP preview of Thomson Grand
Property developer Cheung Kong (Holdings) Ltd has announced an advance VIP preview of its luxury property project, Thomson Grand.After receiving more than 1,000 enquiries from potential local and foreign buyers, the developer has released 50 units for sale during the VIP preview.“We will...
Continue Reading • 8 Jul 2011
10000 new private homes for 2011
Property consultancy firm Savills is expecting 10,000 new homes to be launched in the second half of the year, according to the company’s latest report.The projects will primarily come from the Government Land Sales (GLS) programme, with most of the homes aimed at the mass market segment....
Continue Reading • 7 Jul 2011
Anti-speculation measures take their toll on HK luxury flats
The luxury flat auction on 6 July saw cautious bidders, as the government’s anti-speculation measures started to take their toll.Out of the 10 flats that were placed on the auction block, three flats, two at Baguio Villa and one at Beverly Hills, were pulled out after failing to attract...
Continue Reading • 7 Jul 2011
Property price growth slows as cooling measures kick in
Anti-speculative measures implemented by the government are taking effect, but with different outcomes in both the public and private sectors.“Price increases in Q2 were marginally below expectations,” said Alan Cheong, Associate Director at Savills Research and Consultancy.Prices of...
Continue Reading • 7 Jul 2011
CapitaLand establishes subsidiary in China
CapitaLand, Southeast Asia’s largest real estate company, has established a new unit in China as part of its ongoing business development.The new China unit, StorHub Songjiang (Shanghai) Co. Ltd, has a registered capital of around S$9.36 million (US$7.58 million), with the principal...
Continue Reading • 7 Jul 2011
Ascott Reit appoints Wee Chong Han as new deputy CEO
Ascott Residence Trust Management Limited, manager of Ascott Residence Trust, has announced the appointment of Wee Chong Han as its new Deputy Chief Executive Officer, effective 5 July 2011.According to the company, Wee will assist Chief Executive Chong Kee Hiong in enhancing the portfolio...
Continue Reading • 7 Jul 2011
PropertyGuru announces excellent results for H1
PropertyGuru, Asia Pacific’s leading property portal group, announced record results for the first half of 2011, with site traffic rising 85 percent to more than 4 million visitors viewing 50 million pages. Likewise, revenue climbed 70 percent compared with H1 2010, while paying agent...
Continue Reading • 7 Jul 2011
CBRE achieves carbon neutrality
The CB Richard Ellis Group (CBRE), one of Newsweek’s 30 greenest large companies in America, has achieved carbon neutrality for its 2010 global operations, making it the first global commercial real estate services company to do so, according to the company’s latest press release.The...
Continue Reading • 7 Jul 2011