Rise in HK mortgage rates curb home prices
Banks in Hong Kong have succeeded in curbing home prices by raising mortgage rates, signalling that the real estate market may have peaked.HSBC Holdings Plc, which manages two of the city’s three largest banks in terms of consumers, is among the lenders who sped up mortgage rate increases...
Continue Reading • 9 Jun 2011
S'pore the 3rd costliest country in Asia for expats
Singapore has been ranked as the third most expensive destination in Asia for expats, behind Japan and South Korea, according to human resource firm ECA International.This was largely attributed to the strengthening of the Singapore dollar, which rose by over 10 percent against major currencies,...
Continue Reading • 9 Jun 2011
CapitaLand completely acquires SNC Costes K
CapitaLand Ltd, Southeast Asia’s largest property developer, has announced that the acquisition of the 100 percent stake in SNC Costes K (SCK) in Paris has been completed.SCK owns three properties in Paris, including Hotel K, its adjoining residential building and an adjacent apartment...
Continue Reading • 9 Jun 2011
PropNex to star in NDP 2011
PropNex Realty, one of the leading real estate companies in Singapore, will be part of this year’s National Day Parade (NDP).Fielding a 49-strong contingent, PropNex Realty will be representing one of the pillars of Singapore’s Economic Defence.“It is important for all...
Continue Reading • 9 Jun 2011
Growth forecast revised to 6.2%
Private-sector economists have expanded Singapore’s growth forecast to 6.2 percent this year, an increase from the earlier forecast of 5.7 percent, according to the Monetary Authority of Singapore’s (MAS) recent quarterly survey of analysts.The respondents to the central bank’s...
Continue Reading • 9 Jun 2011
Condos at GLS sites higher priced than nearby projects
Despite the high supply of state land, launch prices of new 99-year condos are continuing an upward trend, primarily attributed to the robust demand.According to a recent DTZ study, the median prices of new 99-year leasehold condos released in 2010 and 2011 on sites sold at Government Land Sale...
Continue Reading • 9 Jun 2011
Far East buys conservation bungalow site for S$103.8m
The 113-year-old conservation bungalow on Marine Parade Road has been acquired by property giant Far East Organization (FEO) for a whopping S$103.8 million.This works out to around S$1,195 psf of potential gross floor area (GFA), inclusive of a development charge (DC) of S$18.8 million, said...
Continue Reading • 9 Jun 2011
Tiong Seng subsidiary to expand green technology in Asia Pacific
Cobiax Technologies AG, a majority-owned subsidiary of Tiong Seng Holdings Ltd, has established a wholly-owned unit, Cobiax Technologies (Asia) Ltd, to expand its cutting-edge green construction technology in Singapore and the Asia-Pacific region.Cobiax’s new green technology will remove...
Continue Reading • 8 Jun 2011
Olina Lodge condo goes en bloc
Olina Lodge, a 20-year-old freehold private condominium at Holland Hill, has been put up for en bloc sale with an indicative price of S$225 million, approximately S$1,666 psf ppr.Property consultancy firm DTZ, which is marketing the property, said no development charge (DC) is payable if the...
Continue Reading • 8 Jun 2011
40% of US underwater borrowers holding home equity loans
Homeowners in the US who obtained home equity loans for further financing account for 40 percent of all borrowers who are now underwater, according to the data revealed by CoreLogic.The data analytics company noted that 10.9 million (22.7 percent) of all residential properties were underwater in...
Continue Reading • 8 Jun 2011
No property bubble in China, says US developer
The real estate market in China will not collapse, as prices are supported by rapid economic growth, although the hotel segment could be at risk of a potential bubble, according to Ambrish Baisiwala, Chief Executive of Portman Holdings.“Overall, we don’t see a bubble in China. But...
Continue Reading • 8 Jun 2011
New appointments at GIC
The Government of Singapore Investment Corp (GIC) has boosted its investment power with key changes to its senior leadership.The changes came as GIC revealed it had recovered all the losses experienced during the global financial crisis, while its portfolio had witnessed good returns in the past...
Continue Reading • 8 Jun 2011
Woodlands residential site attracts 3 bids
The tender for a 99-year leasehold site at Woodlands Avenue 2 / Rosewood Drive has attracted a total of three bids, with Fragrance Group Limited and Aspial Corporation Ltd offering the highest bid of S$151.5 million, or S$367 psf ppr.“The top bid of S$151.5 million or S$367 psf ppr is...
Continue Reading • 8 Jun 2011
Eleven@Holland to be launched
Boutique developer Clydesbuilt Group is preparing to launch Eleven@Holland, a cluster landed housing development located off Old Holland Road in District 10.The project comprises 82 strata-titled semi-detached units, with prices starting from S$1,050 psf. Units at the project comprise mostly...
Continue Reading • 7 Jun 2011
Luxury home prices ease in Q1
Prices of luxury residential properties in Singapore have moderated to 0.9 percent quarter-on-quarter in the first quarter, due to the property cooling measures, according to the CB Richard Ellis (CBRE) Asian Luxury Residential Capital Value Index.The cooling measures, which took effect in Q1,...
Continue Reading • 7 Jun 2011
UK mortgage brokers drove risky lending
Mortgage brokers helped drive risky lending during the boom years, revealed a report by the Institute for Public Policy Research (IPPR).The IPPR noted that the securitisation model provided an incentive for lenders to engage in riskier lending.“Higher-risk lending was more prevalent in...
Continue Reading • 7 Jun 2011
Property investors eyeing China
Real estate investors have been monitoring China over the past 18 months, as property markets recover across the world. China and other developing markets in the Asia Pacific region are now being perceived as more appealing to investors, according to analysts.Greg Penn, Executive Director of...
Continue Reading • 7 Jun 2011
Lian Beng clinches S$150.7m condo development deal
Singapore-based construction company Lian Beng Group announced that it has clinched a S$150.7 million contract to build Hedges Park, a private residential condo located at Upper Changi Road North / Flora Drive.The contract will cover the building and earthworks of the project, which will house a...
Continue Reading • 7 Jun 2011
MND invites public to solve HDB's challenges
National Development Minister Khaw Boon Wan has invited members of the public and market players to solve some of the problems faced by HDB dwellers.In his latest blog post entitled “Solving Daily Problems,” Mr. Khaw cited some of the common inconveniences: “putting laundry out...
Continue Reading • 7 Jun 2011
Falling demand for HK property
Recent data on property deals in Hong Kong has revealed a decrease in demand over the last 12 months, according to a report by The Standard.Property transactions in May totalled 12,536, an increase of 20.7 percent from April, but declined 5.9 percent from last year.A Land Registry official noted...
Continue Reading • 6 Jun 2011