UK borrowers acquiring mortgages to improve homes
UK consumers are acquiring mortgages to continue investing in home improvements, despite challenging economic conditions, according to recent research conducted by Sainsbury's Finance.The research showed that homeowners are investing more in home improvements, with 21.0 percent of personal loans...
Continue Reading • 7 Jul 2011
Another Asian celebrity acquires Twin Peaks unit
Two weeks after actor Jackie Chan and singer-songwriter Wakin Chau bought three apartments at the Twin Peaks condo development, Mandopop star JJ Lin acquired a 571 sq ft, one-bedroom unit at the project.The 30-year-old Singapore-born Taiwan-based singer-songwriter-composer is understood to have...
Continue Reading • 7 Jul 2011
Netizens applaud suspension of DBSS land sales
Local netizens applauded National Development Minister Khaw Boon Wan’s recent suspension of future land sales for the Design, Build and Sell Scheme (DBSS), according to a Yahoo! Singapore report.While some called for the scrapping of the DBSS and Executive Condominium (EC) programmes,...
Continue Reading • 6 Jul 2011
Crystal Tower, Daisy Apartments go en bloc
Crystal Tower has been launched for collective sale through a tender at an indicative price of S$155 million, according to a Channel News Asia report.The 28 unit, 11-storey residential development has a total area of 60,482 sq ft and a gross plot ratio of 1.6.Located at Ewe Boon Road, the site...
Continue Reading • 6 Jul 2011
UAE's new visa regulations to boost investor confidence
The UAE government has extended visas for foreign property buyers to three years from the current six months, in a bid to boost property investment in its struggling real estate market.According to the country’s top developer, this move will significantly boost investors’ confidence...
Continue Reading • 6 Jul 2011
IKEA sale returns
The IKEA sale has returned with more savings and deals to entice shoppers, from 7 to 24 July at IKEA Singapore. Already low prices will be further reduced to clear stock and make way for new products. With a wide selection of well-designed products to choose from, there’s always something...
Continue Reading • 6 Jul 2011
Laguna Park tender closed
The en bloc sale exercise for the Laguna Park residential development site in District 15 closed yesterday, with its marketing agent Knight Frank still negotiating with an interested party, according to a Channel News Asia report.The 33-year-old residential apartment was launched for sale on 23...
Continue Reading • 6 Jul 2011
Struggling US homeowners to receive US$1b from HUD
Aimed at helping US home owners who defaulted on their mortgages due to job loss or unexpected medical bills, the Department of Housing and Urban Development (HUD) recently launched a US$1 billion Emergency Homeowners’ Loan Program (EHLP).The programme targets approximately 1.8 million home...
Continue Reading • 6 Jul 2011
Singapore-based property companies eye SE Asia success
In an effort to expand their portfolios, Singapore-based real estate companies are increasingly eyeing Southeast Asian markets such as Vietnam, Indonesia, Malaysia and the Philippines.While most developers consider expanding in China and India, they believe that population growth in Southeast...
Continue Reading • 5 Jul 2011
Choa Chu Kang residential site goes for S$142.78m
A residential site at Choa Chu Kang Road / Phoenix Road has been awarded by the Urban Redevelopment Authority (URA) to Far East Civil Engineering (Pte) Limited and China Construction (South Pacific) Development Co Pte Ltd, after submitting the highest bid of S$142.78 million, or S$4,418.97 psm of...
Continue Reading • 5 Jul 2011
Grand Tower up for sale
Grand Tower, a boutique freehold residential site in the Novena area, has been put up for sale through a public tender, with an indicative price of S$88.8 million (S$1,381 psf ppr).No development charge (DC) is payable, according to Savills Singapore, the property services firm in charge of...
Continue Reading • 5 Jul 2011
DBSS land sales suspended, under review
The government has suspended future land sales under the Design, Build and Sell Scheme (DBSS), pending its review, according to National Development Minister Khaw Boon Wan.“We are reviewing (the) DBSS scheme. Meanwhile, I have suspended future DBSS land sales,” said Khaw on his...
Continue Reading • 5 Jul 2011
China home prices to drop, says report
China’s skyrocketing home prices will likely see a slowdown in the third quarter but the property market is not expected to suffer a “hard landing”, according to a report published by the Renmin University of China in Beijing. The report showed that more Chinese cities...
Continue Reading • 5 Jul 2011
Spotlight on S'pore property stocks
Singapore property stocks, particularly Sim Lian Group, may be in the spotlight after the government announced that it will halt future land sales under the Design, Build and Sell Scheme (DBSS), pending its review.DBSS flats came under fire recently after Sim Lian Group set an indicative price of...
Continue Reading • 5 Jul 2011
Aussie borrowers can expect smaller properties from developers
Australians who want to secure a mortgage in their initial step on the housing ladder may not get as much land, compared with previous generations.John Thurtell, General Manager of builder PJ Burns, said that most new homes today feature smaller backyards.He added that terraced block sizes could...
Continue Reading • 5 Jul 2011
HK residents rally over property prices
More than 200 protesters were arrested in Hong Kong, as tens of thousands of angry residents gathered in the central business district (CBD) to protest the increasing property prices in the city-state.“The main objective of today’s rally is to protest against property...
Continue Reading • 5 Jul 2011
UK mortgage defaults to rise, warn lenders
Mortgage lenders in the UK are expecting the number of borrowers defaulting on their home loans to increase in the coming months, according to a recent survey.A quarterly study of credit conditions released by the Bank of England showed that default rates on secured loans remained unchanged in...
Continue Reading • 4 Jul 2011
Private home prices continue to rise
The private residential property price index climbed 1.9 percent to 202.8 points in the second quarter, compared to a 2.2 percent increase in the previous quarter, according to the Urban Redevelopment Authority’s (URA) flash estimates.In addition, prices of non-landed private residential...
Continue Reading • 4 Jul 2011
Developers clarify report over high profit margins
Two developers have released a joint statement to clarify a report published by The Business Times last week, claiming that Design, Build and Sell Scheme (DBSS) projects collects high gross profit margins for the developer.“The article gave the impression that DBSS developers including Hoi...
Continue Reading • 4 Jul 2011
Property auction sales down 20.4% in H1
Singapore’s auction sales in the first half of 2011 dropped 20.4 percent to S$69.25 million, compared to S$87 million over the same period last year, according to property consultancy firm Jones Lang LaSalle (JLL).JLL said it auctioned properties with a total value of around S$25.16...
Continue Reading • 4 Jul 2011