China's home sales value down 21%, says new data
The transaction value of homes sold in China dropped 21 percent in April, after the central government expanded its cooling measures to curb the risk of asset bubbles.Based on Statistics Bureau data, China’s home sales transaction value fell to 324.9 billion yuan (S$61.6 billion) in April,...
Continue Reading • 12 May 2011
Luxury apartments near London's Westminster Abbey to launch in HK
Nine luxury apartments located on Great Peter Street near Westminster Abbey will be launched in Hong Kong on 14 and 15 May 2011.The launch, which will be held at the Conrad Hotel in Pacific Place, Admiralty, will showcase why 35 Great Peter Street is a London investment that simply should not be...
Continue Reading • 12 May 2011
CDL set to launch more new projects
City Developments Ltd (CDL) is planning to roll out several new projects this year, including Jean Nouvel Residences at 18 Anderson Road, which comprises 156 apartments and penthouses in two 36-storey buildings.By the end of the H1 2011, the company also plans to launch a 64-unit low-rise condo...
Continue Reading • 12 May 2011
Ascott to launch first premium Ascott-branded serviced residence in Paris
The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence unit, has agreed to acquire a 100 percent stake in SNC Costes K, which owns the prime Hotel K and an adjacent vacant residential property in Paris, for approximately €65 million (S$118.4 million). Ascott plans to...
Continue Reading • 11 May 2011
Singapore-based investors eyeing Malaysia property market
Malaysia is set to become the next possible destination for investors from Singapore, according to a government official from the middle-income economy while citing actions taken to strengthen the business environment.“With housing prices in Singapore escalating, Singapore-based investors...
Continue Reading • 11 May 2011
Pasir Ris condo site gets only three bids
The public tender for a 99-year leasehold condo site at Jalan Loyang Besar / Pasir Ris Drive 4 has attracted only three bids, with MCL Land Ltd offered the highest bid of S$246.1 million, approximately $402 psf ppr.Li Hiaw Ho, Executive Director at CB Richard Ellis (CBRE), said that the...
Continue Reading • 11 May 2011
Asking prices for auction plots in HK rise
The price estimates for three plots of land set for auction tomorrow have increased, primarily attributed to the healthy market.A site in Ngau Tam Mei and the former Lingnan University site on Stubbs Road, 62 Begonia Road in Kowloon Tong are expected to yield a total of approximately HK$6...
Continue Reading • 11 May 2011
Thai mortgage programme creates queues in Bangkok
Potential Thai home owners have waited for long hours at the Government Housing Bank (GHB) in Bangkok, hoping to obtain the interest-free loans allocated to new buyers.According to the Bangkok Post, the programme has a total fund of about 25 million baht (US$827,800) available for the first two...
Continue Reading • 11 May 2011
UE's Q1 profit climbs 6% to S$29.89m
United Engineers (UE) has recorded a six percent year-on-year increase in net profit to S$29.89 million in the first quarter, while its gross revenue climbed 17 percent to S$229.63 million.This was mainly attributed to the divestment of UE Print Media Hub, a five-storey industrial building at Tai...
Continue Reading • 11 May 2011
CapitaLand unit to develop affordable housing in Vietnam
CapitaValue Homes, the low-cost housing unit of CapitaLand, has entered into a joint venture (JV) agreement with Vietnamese real estate company Khang Dien House Trading and Investment to develop a 29,000 sq m land site in Ho Chi Minh City, Vietnam.The land site will be developed into 974 low-cost...
Continue Reading • 11 May 2011
OUE's Q1 profit climbs, helped by acquisitions
Mainboard-listed integrated property developer Overseas Union Enterprise Ltd. (OUE) has posted a 29.9 percent increase in profit-before-tax in the first quarter, on the back of a 42.2 percent increase in revenue to S$68.2 million. This was mainly attributed to a continued growth in its...
Continue Reading • 11 May 2011
PM Lee says no significant change in S'pore economic model
Analysts watching the results of the General Election (GE) will see no significant change in Singapore’s economic model, according to Prime Minister Lee Hsien Loong.He said that as the People’s Action Party (PAP) prepares the next government, market analysts can expect enough...
Continue Reading • 10 May 2011
Interest rate hikes in Australia impacting mortgage repayments
ANZ Banking Group executive Mike Smith revealed his growing concern at how increasing interest rates affect the ability of some consumers to repay their mortgages.Mr. Smith’s remarks followed Westpac Chief Gail Kelly’s, who had earlier acknowledged an increase in consumer arrears,...
Continue Reading • 10 May 2011
Saudi property prices soar on higher lending
Property prices in the Kingdom of Saudi Arabia rose this year, boosted by an increase in lending by private banks and government funds.According to a Banque Saudi Fransi survey, the average price of residential land across Saudi Arabia rose to 1,631 riyals (S$537) psm, up 13.5 percent from 30...
Continue Reading • 10 May 2011
S-REITs seeking to expand portfolios
Industry analysts and players anticipate Singapore-listed real estate investment trusts (S-REITs) to increase their portfolios through purchases this year, on the back of a low interest rate environment.They believe more diversification could be on the cards of the REITs whose portfolios already...
Continue Reading • 10 May 2011
Spotlight on green buildings
The 2011 Singapore Green Building Week (SGBW) aims to be more extensive and provide greater breadth and depth of discussion among industry practitioners in the region.Organised by the Building and Construction Authority (BCA), the yearly event will be held in conjunction with the second...
Continue Reading • 10 May 2011
Freehold site at Marine Parade for sale
A freehold site on Marine Parade Road near Parkway Parade, which holds a 113-year-old conservation bungalow, has been put up for sale by tender with a price expectation of approximately S$100 million to S$110 million.This translates to around S$1,164 psf to S$1,262 psf of potential gross floor...
Continue Reading • 10 May 2011
Slew of new projects launching this week
Four property projects, Belysa Executive Condo, Interweave, Foresque Residences and Foresta, are set to launch this week.Hoi Hup’s Foresta, a five-storey 141-unit residential development at Mount Faber, will be launched on 11 May.The project, which is located in the “highly sought...
Continue Reading • 10 May 2011
China developers struggle as govt tightens property market
Property developers from China are facing stagnant sales and increased losses in the midst of Beijing’s efforts to cool the hot real estate market.“The recent government control over its property market has restrained half of the demand. Small property developers will first feel the...
Continue Reading • 10 May 2011
FHA, Fannie Mae launch new mortgage programmes to assist consumers
Two US mortgage authorities, the Federal Housing Administration (FHA) and Fannie Mae, have recently launched new mortgage programmes to help consumers pay for their home energy improvements.Called PowerSaver, the FHA’s latest programme allows qualified homeowners to borrow as much as...
Continue Reading • 9 May 2011