Melbourne attracts Asian investors
Melbourne, Australia’s second most populous city, is attracting Asian property developers with its growing opportunities, which include a vibrant city life, booming financial services, good education facilities, housing shortage and population growth.According to a report by Bernama,...
Continue Reading • 28 Jun 2011
Two residential sites up for collective sale
Two sites, one in the East Coast and the other in District 10, have been put up for en bloc sale through a tender.Royalville, a large prime freehold land parcel situated along Bukit Timah Road, is being sold by Credo Real Estate, while the East Coast site, St Patrick’s Garden, is being...
Continue Reading • 28 Jun 2011
KSH Holdings clinches Eight Courtyards contract
Mainboard-listed construction and property group KSH Holdings Ltd has clinched a S$138.4 million contract to build the Eight Courtyards condominium.Under the contract awarded by Yishun Gold Ltd, a joint venture (JV) company between Far East Organization (FEO) and Frasers Centrepoint, KSH will be...
Continue Reading • 28 Jun 2011
River Valley Rd apartment sold for S$70.5m
A 40-unit freehold walk-up apartment at River Valley Road has been sold for S$70.5 million, resulting in a total of 32 transactions worth S$1.73 billion on the collective sales market so far this year.Credo Real Estate, which brokered the deal, said the apartment block at 402 to 414 River Valley...
Continue Reading • 28 Jun 2011
Singapore, Malaysia seal historic land deal
The historic land deal between Singapore and Malaysia may have a large impact on the real estate sector and even the global financial market, as suggested by the details released in a joint statement by Singapore’s Temasek Holdings and Malaysia’s Khazanah Nasional.The six parcels of...
Continue Reading • 28 Jun 2011
No housing oversupply in 2013, 2014: Citi
The expected rise in the supply of new HDB flats and private homes over the next few years will not lead to a housing oversupply in 2013 and 2014, according to an analyst from Citigroup.Citigroup also believes that the current “severe shortage” of HDB flats is likely to offer support...
Continue Reading • 28 Jun 2011
Keppel Land making more green efforts
Property firm Keppel Land has included its overseas developments in the company’s third year of bringing out sustainability efforts.The company’s eight investment hotels and buildings in Myanmar, Vietnam and Indonesia have jointly consumed approximately 52 million kilowatt hour (kWh)...
Continue Reading • 27 Jun 2011
Tin Pei Ling shares thoughts on DBSS controversy
Member of Parliament (MP) for Marine Parade Tin Pei Ling has shared her views on Facebook about the controversial Design, Build and Sell Scheme (DBSS) project in Tampines.Last week, the 708-unit Centrale 8 caused public outrage after an S$880,000 price tag for its largest unit was revealed, as...
Continue Reading • 27 Jun 2011
MND to closely watch shoe-box units
The Ministry of National Development (MND) is closely monitoring the development of “shoe-box,” or small-sized, apartments in Singapore.In a blog entry entitled “Buying Shoe Boxes,” National Development Minister Khaw Boon Wan advised potential buyers to carefully weigh the...
Continue Reading • 27 Jun 2011
Slower sales for GCBs
Real estate agents have been reporting a drop in Good Class Bungalow (GCB) sales, as the gap between asking and offer prices widens.However, about S$750 million worth of sales have already been closed so far this year, for the residential market’s ultra-elite segment in Singapore.In 2010, a...
Continue Reading • 27 Jun 2011
DBSS flats expected to have good resale prices
Residents who paid high prices for their Design, Build and Sell Scheme (DBSS) flats are optimistic that the superior location of their estates will give them good resale flat prices in future, according to a report by The Straits Times.Some industry observers agree that it is a flat’s...
Continue Reading • 27 Jun 2011
Cheap UK mortgages boost home sales
UK real estate agents have registered an 11 percent increase in buyers in June, due to an increasing number of low mortgage deals and more reasonable asking prices from home sellers, according to a report from property analysts Hometrack.It added that sales will continue to increase this summer,...
Continue Reading • 27 Jun 2011
Rogue property officials in HK to face tough punishment
Top executives and directors of property developers in Hong Kong, along with their real estate agents, could face up to 10 years in prison for false trading and price manipulation, according to a report by The Standard.However, the report said that representatives of property developer companies...
Continue Reading • 27 Jun 2011
Centrale 8 at Tampines two times oversubscribed
The controversial Design, Build and Sell Scheme (DBSS) flats at Centrale 8 in Tampines were two times over-subscribed by the deadline on 21 June, according to a Straits Times report.Despite widespread criticism over the S$880,000 price tag, the project managed to attract 1,431 applicants.Some...
Continue Reading • 24 Jun 2011
Aussie Senate upholds home loans measures
Australia’s upper house Senate has supported the government’s decision to ban home loan exit fees, despite opposition from some quarters, according to a Reuters report.The opposition filed by the conservatives, including independent senator Nick Xenophon, was rejected on 22 June.One...
Continue Reading • 24 Jun 2011
Khaw's blog causes jitters among developers
National Development Minister Khaw Boon Wan’s frequent blog entries about the Singapore property market are making some developers jittery, according to a Straits Times report.Some property players believe Mr. Khaw's online blog postings have blurred the line between official policy and...
Continue Reading • 24 Jun 2011
Property IPO market in Asia may slow this year
The property IPO market in Asia may moderate towards the end of 2011, as governments attempt to cool property prices and equity markets become sluggish, according to a senior executive at HSBC.“I don’t expect a lot of straight equity to be raised by developers for the remainder of...
Continue Reading • 24 Jun 2011
S$175.8m top bid for West Coast site
The tender for a land parcel at West Coast Link / West Coast Crescent has received a total of 12 bids, with Boo Han Holdings offering the highest bid of S$175.8 million (approximately S$461 psf ppr).Boo Han’s bid would, based on current sales prices, give the company a profit margin of...
Continue Reading • 24 Jun 2011
Singapore inflation reaches 4.5% in May
Singapore’s inflation rate hit 4.5 percent in May, fuelled mostly by increasing housing costs.According to the Department of Statistics, the monthly Consumer Price Index (CPI) climbed 4.5 percent in May on the back of higher housing, food and transport costs. It increased 0.6 percent...
Continue Reading • 24 Jun 2011
Home sales volume to hit 4000 in Q2
Singapore’s real estate market will likely see a robust second quarter, with the number of new home sales expected to hit 4,000 units, up 11.3 percent from the 3,595 new units sold last quarter.According to property services company CB Richard Ellis (CBRE), preliminary numbers submitted for...
Continue Reading • 24 Jun 2011