S'pore's GDP growth could slow in Q2
Gross domestic product (GDP) growth in Singapore could slow to 6.7 percent in the second quarter, according to leading indicators of the recent BT-UniSIM Business Climate Survey.Based on contraction in exports and manufacturing in April, Survey Director Chow Kit Boey believes that Q2 GDP growth...
Continue Reading • 14 Jun 2011
Flood-prone areas will not affect property values
The national water agency said there are now 66 flood-prone areas in Singapore, mostly low-lying areas like Jalan Besar and Bukit Timah.Although residents in these areas are spending extra money to make their homes more flood-resistant, they are not worried that the value of their properties will...
Continue Reading • 14 Jun 2011
PM Lee: Asia must stay linked to Europe, US
Asia may be the “future” but both Singaporean and Indonesian leaders believe that the region cannot detach itself from the rest of the world, particularly Europe and the US.Speaking at the start of the two-day World Economic Forum (WEF) in Jakarta, Prime Minister Lee Hsien Loong said,...
Continue Reading • 14 Jun 2011
Top S'pore official for Eco-City to become its first resident
A top Singaporean official in charge of overseeing the Tianjin Eco-City development is planning to become the first resident of the green township in order to test out its eco-friendly features.Mr. Ho Tong Yen, Chief Executive of the Sino-Singapore project's master developer, said the 30 sq km...
Continue Reading • 14 Jun 2011
HK plans more measures to curb property prices
Hong Kong is preparing to implement another round of property cooling measures to curb prices which have reached record highs since 2009.John Tsang, Financial Secretary of the city-state, said that the property market was “abnormal”. He said that the Hong Kong Monetary Authority...
Continue Reading • 13 Jun 2011
US proposes tougher mortgage rules
With consumer borrowing in the US out of control, a new federal proposal is targeting borrowers by making it tougher for them to acquire even the cheapest mortgage.Figures showed that more Americans who had obtained mortgages last year to purchase homes ended up spending a third of their total...
Continue Reading • 13 Jun 2011
Sim Lian expects construction costs to rise in 2011
Sim Lian Group Limited has expressed its concern that construction costs may rise, with the latest move to accelerate the rate of public housing supply.Aiming to remove the demand backlog and help young couples get their flats faster, the recent temporary policy calls for the building of public...
Continue Reading • 13 Jun 2011
Developers to be choosy with state tenders
Property developers will likely adopt a bottom-up stock picking strategy in bidding for state land in the second half of 2010, according to DBS Vickers, one of the leading retail brokerages in Asia.“We expect developers to be selective in their land bidding activities and bid prices going...
Continue Reading • 13 Jun 2011
Sabana to advise foreign firms on Shariah REITs
Singapore may expect its first listing of an Islamic real estate investment trust (REIT) by a foreign company in the next two years, according to an interview with Sabana Real Estate Investment Management.Kevin Xayaraj, Chief Executive Officer of Sabana, noted that the firm, which manages the...
Continue Reading • 13 Jun 2011
Home price gap may hinder aspiring HDB upgraders
The price gap between HDB flats and mass market private homes has widened to a new record — making it more difficult for hopeful HDB upgraders to acquire a private home, according to Goldman Sachs’ latest report.It added that the price difference between a five-room HDB flat and a...
Continue Reading • 13 Jun 2011
Woodlands residential site sold for S$151.5m
A residential land parcel at Woodlands Avenue 2 / Rosewood Drive has been sold to Fragrance Group Limited and Aspial Corporation Ltd.The companies jointly offered the highest bid of S$151.5 million (S$3,952.21 psm) during the public tender that closed on 7 June 2011.Zoned for residential...
Continue Reading • 13 Jun 2011
Property stocks down on new bumper supply
Depressed since Polling Day, property stocks slipped further on Friday, after the government released an abundant supply of sites for the second half of the year.Several market analysts believe that while more demand-side measures to cool the real estate market are possible, much of the policy...
Continue Reading • 13 Jun 2011
China prohibits exaggerated property ads
Exaggerated advertising of high-end properties in China has been prohibited due to widespread criticism that such ads encourage people to flaunt their wealth.Phrases like “aristocrat territory” and “first-rate villas” have been widely adopted by luxury property developers...
Continue Reading • 10 Jun 2011
CDL looking beyond the residential market
City Developments Limited (CDL) has become one of Singapore’s largest landlords in the office and retail property sector, with over six million sq ft of rentable space, according to a report by The Edge.In a report released by Morgan Stanley, CDL’s office property accounts for nearly...
Continue Reading • 10 Jun 2011
Govt releases 43 land sites for sale
The Ministry of National Development (MND) has announced that there will be 43 land sites released in the second half of 2011 under the Government Land Sales (GLS) programme.This would yield approximately 14,200 private residential units (including 2,300 Executive Condominium units).Of the 43...
Continue Reading • 10 Jun 2011
Aussies face mortgage debt burden with ease
Australians are one of the world’s most indebted people but are still comfortable with it.According to a recent global survey by Genworth, 39 percent of Australians polled were using more than half of their income to service debt.However, over one-third of the respondents noted they were...
Continue Reading • 10 Jun 2011
Keppel Land China acquires prime site in Shanghai
Keppel Land China Ltd, a wholly-owned subsidiary of Keppel Land, has acquired a 7.2ha site in the Jiading District in Shanghai, China for around RMB 1.25 billion (S$241 million).Keppel Land China said the acquisition, which marked its fifth residential development in Shanghai, was completed...
Continue Reading • 10 Jun 2011
Rising inflation in S'pore stirs concern
Singapore economists have identified rising inflation as a possible cause of concern, after raising the inflation forecast for this year.They also raised Singapore’s 2011 growth forecasts, primarily attributed to the robust performance in the first quarter of this year, according to the...
Continue Reading • 10 Jun 2011
Minister Khaw worries over private property market
Minister for National Development Khaw Boon Wan has expressed his worries over the Singapore private property market.In his latest blog entry, Minister Khaw wrote that a sharply rising property market upsets and frightens many. “We have always recognised that unsustainable, rapid price...
Continue Reading • 10 Jun 2011
IP Global to launch 75 Wall in S'pore
IP Global has announced that it will launch 75 Wall, its first freehold property in New York, on 18 and 19 June in Singapore.75 Wall defines world-class luxury living with a full-service lifestyle and an abundance of amenities. It comprises 149 luxury units across 24 floors, including studios,...
Continue Reading • 9 Jun 2011