Commercial property looking attractive for the world's wealthy
Commercial real estate is one of the top two assets, along with equities, that wealthy individuals and their investment advisers are targeting for investment this year, according to a study published by property consultancy firm Knight Frank and Citi Private Bank.The study showed that wealthy...
Continue Reading • 13 Apr 2011
Hedges Park to launch this week
Tripartite Developers, a joint venture (JV) company between City Developments, Hong Leong Group and TID, are expected to start marketing its Hedges Park condominium project along Upper Changi Road later this week.According to market analysts, the average price of units at the 99-year leasehold...
Continue Reading • 13 Apr 2011
Movenpick soft launches hotel in Singapore
Mövenpick Hotels & Resorts has announced the soft launch of Mövenpick Heritage Hotel Sentosa, its first property in Singapore, with the grand opening scheduled for the end of the year.“We are thrilled to be entering the Singapore market. By creating a unique hotel that manages...
Continue Reading • 12 Apr 2011
Citigroup to market Aussie mortgage bonds
Citigroup is planning the first sale of Australian residential mortgage bonds by a New-York-based bank since 2008 as relative yields on the notes drop to their lowest levels since global credit markets froze.According to its 8 April statement, Citigroup’s Australian unit is selling A$760...
Continue Reading • 12 Apr 2011
China bans foreign investment in villas
China is set to prohibit foreign investment in the development of villas, apparently part of the government’s measures to cool the property market.Planned revisions to the Catalogue Guiding Foreign Investment in Industry included foreign investment in the building and management of villas...
Continue Reading • 12 Apr 2011
IOI's Singapore venture raises concerns
IOI Corporation’s participation in the South Beach project might give the company great opportunity in Singapore’s real estate market but it has also raised concerns. Its growing exposure to the real estate sector could dilute its price earnings as an oil palm planter.CIMB...
Continue Reading • 12 Apr 2011
SC Global withholds sale of properties
SC Global has a substantial inventory of approximately one million square feet gross of saleable floor area in different luxury housing projects in Singapore.However, Chairman and CEO Simon Cheong was in no rush to sell off the properties, as he is aware of the difficulty of finding replacement...
Continue Reading • 12 Apr 2011
Bendemeer Road site sold for S$543m
United Engineers Developments Ltd (UE) has acquired a land parcel at the junction of Bendemeer Road and Whampoa East, after offering the highest bid of S$543 million (S$774 psf) in a public tender that closed on 7 April.UE said it plans to develop an inner-city waterfront condo comprising 700...
Continue Reading • 12 Apr 2011
Pearlbank back on sale again
Pearlbank Apartments, a 37-storey development on Pearl’s Hill near Chinatown, has been offered for en bloc sale with an indicative price of S$750 million.This is the third time the 99-year leasehold development has been launched for en bloc sale. It was last marketed in 2008 at ...
Continue Reading • 12 Apr 2011
New rules to protect buyers, sellers
New property measures to protect property buyers and sellers were passed in the Parliament yesterday and are expected to take effect on 1 August.Under the new rules, lawyers will now be prohibited from holding conveyancing money in their clients' accounts. It will also stop the practice of...
Continue Reading • 12 Apr 2011
New US mortgage regulations to protect consumers
New regulations on how mortgage loan officers’ payment for originating home loans in the US are intended to protect consumers and provide a clearer picture of how the mortgage professional can generate money off the loan.However, according to some industry experts, the new rules are...
Continue Reading • 11 Apr 2011
Cooling measures hit China home prices
Home prices in Chinese cities fell, on the back of lower demand amid measures to curb soaring property prices, according to Xinhua.The local news agency said that the number of home buyers is no longer declining, despite discounts offered by property developers, it said.Li Ning, Market Manager of...
Continue Reading • 11 Apr 2011
HK's first yuan REIT officially launched
Li Ka-shing’s first Hong Kong yuan-denominated real estate investment trust (REIT) was officially launched on 10 April.Relying on demand from investors seeking to benefit from growth in China’s property market, the Hui Xian REIT can potentially raise as much as 11.16 billion yuan...
Continue Reading • 11 Apr 2011
Historic railway stations to be conserved
Singapore will be conserving its landmark railway stations in Tanjong Pagar and Bukit Timah, as physical reminders of its rich heritage.The two stations will be handed over from Malaysia to Singapore. The stations were built in the 1930s during the British era as part of a transport system for...
Continue Reading • 11 Apr 2011
Corporate buyers avoiding residential properties
Real estate consultancy firm Cushman and Wakefield has revealed that non-landed private home sales dropped by 62 percent to 133 transactions in Q1, from 350 transactions in the preceding quarter.Some experts believe the data indicates that the Government’s tough property cooling measures...
Continue Reading • 11 Apr 2011
Cairnhill Mansions up for collective sale
Cairnhill Mansions, a freehold residential site in District 9, has been released for collective sale with an indicative price of S$361.5 million (around S$2,308 psf) and no development charge (DC).Its current price tag is lower than the S$443.6 million (S$2,833 psf) guide price set for the...
Continue Reading • 11 Apr 2011
Amber Towers sold for S$161.6m
A 40,708 sq ft freehold residential site, Amber Towers, has been sold to China Sonangol Land for S$161.6 million (around S$1,118 psf ppr).The 35-year-old property, which comprises 54 apartment units, can be redeveloped into a new high-rise residential project with a maximum gross floor area (GFA)...
Continue Reading • 11 Apr 2011
Arcadia's residents seeking lease top-up
Residents at Arcadia condominium are seeking an extension of lease for the aging estate, not for the collective sale but to conserve the property’s three buildings on environmental and heritage grounds.The condo’s management committee said it applied to the Singapore Land Authority...
Continue Reading • 11 Apr 2011
Rise in affordable freehold homes
More freehold units will be offered in the market over the next few years for as low as S$600 psf to S$900 psf.According to research conducted by Kim Eng, City Developments’ and Hong Leong’s familiarity with the area helped them to best the bid for a 99-year leasehold residential site...
Continue Reading • 11 Apr 2011
Condo dreams fading for HDB upgraders
HDB upgraders’ dreams of acquiring suburban condominiums are drifting further out of their reach.This is due to the record property prices coupled with the property cooling measures implemented by the government.According to property consultancy DTZ Research, seven out of 10 home buyers in...
Continue Reading • 8 Apr 2011