URA launches three residential sites for sale
The Urban Redevelopment Authority (URA) has launched three residential sites for sale, which can yield up to 1,175 housing units.Of the three 99-year leasehold land parcels, two sites — Flora Drive and Woodlands Avenue 2 / Rosewood Drive — were put up for sale under the confirmed list...
Continue Reading • 27 Apr 2011
China property tax a must, says researcher
Property tax in China is needed in order to reverse a significant imbalance in wealth distribution, according to Zhang Monan, a researcher from the State Information Centre.According to Ms. Zhang, China needs to improve its property reporting system and to levy taxes on different personal...
Continue Reading • 27 Apr 2011
CapitaLand's Q1 profit jump staggering
Southeast Asia’s largest property developer, CapitaLand, has posted a net profit of S$101.5 million in the first quarter, up 241 percent from the restated net profit of S$29.8 million over the same period last year.Q1 revenue also rose 39 percent to S$611.5 million, mainly attributed to...
Continue Reading • 27 Apr 2011
Three new property launches set for this week
Three new property projects — Oxley Bizhub at Ubi Road, Water Edge at Geylang and 10 Shelford at Dunearn — will be launching this week, as developers are taking advantage of the still favourable market.Oxley Rising’s Oxley Bizhub at Ubi Road opened yesterday for single unit...
Continue Reading • 26 Apr 2011
US homeowners can get low-rate loans for energy upgrades
Most US homeowners are now qualified for up to US$25,000 in federally insured loans to develop energy-efficient upgrades such as sealing ducts, adding insulation or replacing windows.Consumers with manageable debt, good credit scores and some equity in their homes can obtain PowerSaver loans...
Continue Reading • 26 Apr 2011
Wing Tai, Singbridge to develop China housing project
Wing Tai (China) Investment Pte Ltd, a property investment arm of Wing Tai Holdings Limited, has inked a joint venture (JV) agreement with Singbridge Guangzhou Pte Ltd, a subsidiary of Singbridge International Singapore Pte Ltd, to jointly develop a housing project in the Sino-Singapore Guangzhou...
Continue Reading • 26 Apr 2011
S'pore inflation rate maintained at 5%
Singapore’s inflation remained unchanged at five percent in March, similar to the five percent increase in consumer prices in February.According to the Department of Statistics, the consumer price index (CPI) increased five percent year-on-year in March, primarily due to higher housing,...
Continue Reading • 26 Apr 2011
Singapore govt boosting green building efforts
Innovative technology and design are essential in Singapore, as the property industry works to adopt green building practices, which are largely driven by the robust regulatory framework.Singapore’s position as one of Asia’s green building leaders, and the integration of green designs...
Continue Reading • 26 Apr 2011
Private home prices climb 2.2% in Q1
Prices of Singapore’s private residential properties rose 2.2 percent in the first quarter, down from 2.7 percent in the previous quarter, reflecting the accumulated effects of the cooling measures implemented by the government.“The cooling measures announced by the Government were...
Continue Reading • 26 Apr 2011
Mortgage approvals for UK landlords rise
Mortgage lenders in the UK are rejecting first-time home buyers and other conventional applicants but are instead approving mortgage applications for landlords, which could ignite fears of a fresh buy-to-let bubble.According to statistics released by Moneyfacts, the amount of buy-to-let mortgages...
Continue Reading • 25 Apr 2011
Workers' Party defends housing proposals
The Workers’ Party (WP) has no plans of crashing Singapore’s property market, said Chairman Sylvia Lim, in response to National Development Minister Mah Bow Tan’s latest remarks.Mr. Mah had asserted that the WP’s proposed housing policies would “devalue the assets of...
Continue Reading • 25 Apr 2011
WP's housing proposals slammed by Minister Mah
Housing will not be a make-or-break issue in the 2011 general elections, according to Mah Bow Tan, Minister of National Development.“There are so many other issues,” he said during a press conference after a youth dialogue on the new Tampines Town Hub.But Mr. Mah again took pains to...
Continue Reading • 25 Apr 2011
Aussie banks extend repayment periods for Queensland home owners
Home owners in flood-stricken Queensland with mortgages from Australian banks have received news regarding the extension of the freeze on repayment periods.Lenders came under fire after it was proposed that the payment-free period for home loans would only last 90 days, despite the fact that...
Continue Reading • 21 Apr 2011
PropertyGuru takes iProperty to court
AllProperty Media Pte Ltd, which owns Singapore’s leading online property portal, PropertyGuru.com.sg, has filed a law suit against iProperty in Singapore for defamation and copyright infringement. “We have had friendly relationships with all our competitors over the last few years...
Continue Reading • 21 Apr 2011
Tiong Seng wins Glyndebourne contract
Tiong Seng Contractors Ltd, a wholly-owned subsidiary of construction group Tiong Seng Holdings, has been awarded a contract to build The Glyndebourne, a 150‐unit freehold luxury condo development in District 11.“We are extremely happy to be appointed the main contractor for this project...
Continue Reading • 21 Apr 2011
Luxury home buyers are coming back
Sales of luxury homes in Singapore have remained low due to the economic crisis in the US and Europe, though buyers are slowly returning, according to a top executive of Heeton Holdings.Danny Low, Chief Operating Officer of Heeton, said the low luxury home sales in the country can also be...
Continue Reading • 21 Apr 2011
The Boutiq sees huge demand
A consortium comprising Heeton Holdings, KSH Holdings and TEE International have sold 39 units at its latest luxury residential development, The Boutiq, located at 143 / 145 Killiney Road.“Our collaboration with KSH Holdings and TEE International has resulted at the development that is set...
Continue Reading • 21 Apr 2011
Pine Grove collective sale closed
The en bloc sale for Pine Grove near Holland Village has been closed but marketing agent Jones Lang LaSalle (JLL) declined to disclose whether the property received any bids.Pine Grove, a prime redevelopment site at Ulu Pandan, has a total area of 893,000 sq ft. It is zoned for residential...
Continue Reading • 21 Apr 2011
Property sales fall as cooling measures bite
Singapore’s recent rounds of property cooling measures have started to take their toll, according to Keppel Land.Based on the preliminary projections from the Urban Redevelopment Authority (URA) in the first quarter of this year, approximately 3,700 new homes were sold, 12.7 percent lower...
Continue Reading • 21 Apr 2011
UK mortgage market to remain stagnant
UK home buyers will find it difficult to procure a mortgage this year and might have to wait until 2014 before it becomes easier to obtain a home loan, according to market research company Datamonitor.It revealed that while the mortgage market is unlikely to fall further, gross mortgage lending...
Continue Reading • 20 Apr 2011