HK developers launching more luxury units amid cooling measures
Developers in Hong Kong are launching more luxury units on the market, amid government cooling measures, while staying confident of strong support from wealthy Chinese buyers.“The effects of government measures have already been seen. Mortgages have been tightened," said Victor Lui...
Continue Reading • 24 Jun 2011
CapitaLand appoints new CFO
Southeast Asia’s biggest property developer CapitaLand has appointed Arthur Lang as its new Group Chief Financial Officer (CFO), starting mid-September.Lang, who is currently Co-Head of Investment Banking in Southeast Asia at Morgan Stanley, will replace Oliver Lim, who has served as...
Continue Reading • 24 Jun 2011
S'pore top destination for expat relocation in Asia
Singapore has been ranked the third most popular destination for expat relocation worldwide, behind the US and UK, according to Cartus Corporation’s Rankings of Top 25 Relocation Destinations for 2010.“Singapore is one of the top expat destinations and this comes as no surprise, as...
Continue Reading • 23 Jun 2011
Home prices may slide when interest rates rise
Prices of residential properties in Singapore may decline by up to six percent when interest rates start rising, said a senior executive from Cheung Kong (Holdings) in a report by Reuters.However, the red-hot housing market in Singapore, as well as in China and Hong Kong, are unlikely to see a...
Continue Reading • 23 Jun 2011
PropertyGuru wins another award, increases dominance
PropertyGuru (www.PropertyGuru.com.sg) has officially been acknowledged as the number one property website in Singapore from July 2010 to December 2010 by Experian Hitwise.The website overtook the Housing and Development Board’s (HDB) InfoWEB, which landed in second place. Meanwhile, the...
Continue Reading • 23 Jun 2011
Balmoral Condo sold for S$141m
Balmoral Condominium, a 45-unit freehold development in District 10, has been sold to Feature (Balmoral) Ltd for S$141 million (S$1,546 psf ppr), with no development charge (DC) payable.Feature (Balmoral) Ltd is a consortium comprising Clarus Corporation Ltd, Tong Eng Group and Yuan Ching...
Continue Reading • 23 Jun 2011
Tulip Garden up for en bloc again
Tulip Garden at Farrer Road has been re-launched on the collective sale market, after it failed to draw buyers during its last attempt at an en bloc sale in January.Credo Real Estate, the sole marketing agent for the property, is seeking a new mandate from owners to reduce the asking price to...
Continue Reading • 23 Jun 2011
MAS proposes standard bank fact sheet for home loans
The Monetary Authority of Singapore (MAS) has suggested that banks and other financial institutions provide a standardised fact sheet when marketing loans for residential properties to consumers.The central bank published a consultation paper seeking feedback on its proposal. The deadline for the...
Continue Reading • 23 Jun 2011
Cheung Kong to launch luxury condo in Singapore
Cheung Kong (Holdings) Ltd, one of the largest real estate developers in Hong Kong, revealed its latest project, Thomson Grand, at the Singapore Island Country Club yesterday.Located in the Upper Thomson area, the project will be launched in July, once the sales office is completed.With a total...
Continue Reading • 23 Jun 2011
More help given to fight US foreclosures
The Housing and Urban Development (HUD) Department in the US has launched the Emergency Homeowners Loan Program in 27 states to aid unemployed home owners who are at risk of foreclosure.The programme aims to help about 30,000 troubled homeowners who meet the requirements set by the...
Continue Reading • 22 Jun 2011
Weaker sales due to no big launches
Sales of new homes over the past week were dampened by cautious buyers and the lack of big new launches.Far East Organization (FEO) sold 63 units in all of its properties (excluding Eight Courtyards) over the past week, with 46 units snapped up at Woodhaven alone.The average price of the 337-unit...
Continue Reading • 22 Jun 2011
CapitaLand to increase presence in China
Southeast Asia’s largest property developer, CapitaLand Ltd, is planning to double its portfolio in China in the next five years, as it expects the Chinese economy to expand over the next decade.CapitaLand, which has S$10.4 billion worth of assets in China, said it expects new investments...
Continue Reading • 22 Jun 2011
URA launches two residential sites for sale by tender
The Urban Redevelopment Authority (URA) launched two residential land parcels for sale through public tender yesterday.Located at Upper Serangoon Road / Pheng Geck Avenue and Serangoon Garden Way, the 99-year leasehold sites were launched for sale under the confirmed list of the 1H2011...
Continue Reading • 22 Jun 2011
Prices lowered at Centrale 8
Following the public outcry over the S$880,000 five-room flats at Centrale 8 in Tampines, Sim Lian Group said that the flats will be sold for up to S$778,000, lower than the previous indicative price.The company, which is developing the project under the Design, Build and Sell Scheme (DBSS), said...
Continue Reading • 22 Jun 2011
Asian REITs grow with acquisitions
Asian real estate investment trusts (REITs) are poised to grow via acquisitions, according to several industry players who attended the annual Real Estate Investment World Asia conference in Singapore.They noted that the expected growth will be fuelled by ample liquidity and lower capital cost in...
Continue Reading • 22 Jun 2011
Castle Trust eyeing UK mortgage market
New UK firm Castle Trust is seeking regulatory approval to offer mortgage products and other investments, as the government aims to widen mortgage availability for consumers to improve the weakened real estate market.According to a Reuters report, private equity investor JC Flowers helped fund...
Continue Reading • 21 Jun 2011
Minor International properties win three awards
The luxury residential properties of Minor International, one of the largest hospitality and leisure companies in Thailand, clinched three prestigious awards at the Asia Pacific Property Awards.The Residences at The St. Regis Bangkok, which is destined to become one of the city’s defining...
Continue Reading • 21 Jun 2011
S-REITs look stable for 2012
Global credit rating agency Moody’s Investors Service has maintained its stable forecast on Singapore Real Estate Investment Trusts (S-REITs) over the next 12 to 18 months, on expectations of loose credit conditions and increasing rents.Alvin Tan, an analyst at Moody's, said in a report...
Continue Reading • 21 Jun 2011
Braddell Park sells for S$85m
A unit of Singapore-listed Top Global Limited has acquired the 45-unit Braddell Park apartment at Jalan Lateh for S$85 million (around S$665 psf ppr).Located off Braddell Road and Upper Serangoon Road, the apartment complex sits on a 91,360 sq ft freehold land site and is zoned for residential...
Continue Reading • 21 Jun 2011
Woodleigh MRT station opens after 8 years
Eight years after its development, Woodleigh MRT station finally opened yesterday.However, the first day of operations at Woodleigh caused confusion among several commuters.Passengers were surprised by the new stop between the Serangoon and Potong Pasir stations, alighting at Woodleigh when they...
Continue Reading • 21 Jun 2011