Singapore home loans stuck at low level
The growth of housing loans has dropped to its lowest level in a year.However, experts believe that a larger dip may be on the way, as the full impact of January’s property cooling measures is yet to be seen in the latest numbers.The total value of outstanding mortgages climbed 0.95 percent...
Continue Reading • 4 Apr 2011
CapitaLand, Mitsubishi Estate to develop Bishan condo
CapitaLand has partnered Japan’s Mitsubishi Estate Co to jointly develop a condo site in Bishan, which CapitaLand acquired in February.Mitsubishi Estate holds a 25 percent share, while CapitaLand will manage the remaining 75 percent stake in the development, which it plans to launch in the...
Continue Reading • 1 Apr 2011
Property auction sales plummet in Q1
The property auction market has registered a sharp drop in the total number of transactions and sales in the first quarter, winding up a total of 17 deals worth S$27.9 million, according to new data released by Colliers International.The commercial brokerage firm said the significant decline in...
Continue Reading • 1 Apr 2011
HK mortgage rates on the upswing: Hang Seng Bank
Hang Seng Bank, Hong Kong’s third-largest mortgage lender, expects the HIBOR-based mortgage rate to achieve a HIBOR plus 1.5 percent in the next six months.The highest HIBOR offer now is HIBOR plus 1.2 percent, mainly due to a fall in liquidity in Hong Kong, said William Leung Wing-cheung,...
Continue Reading • 1 Apr 2011
Beijing joins other cities to curb new home prices
China’s capital has joined 40 other Chinese cities to stabilise or even lower new home prices this year. This is in response to the central government’s call to keep housing gains in check.About 40 other Chinese cities promised that they will limit new home prices to below annual...
Continue Reading • 1 Apr 2011
Colliers appoints new Director
Commercial brokerage firm Colliers International has appointed Chia Siew Chuin as its new Director and Head of the Research and Advisory Department, effective today.Ms. Chia will occupy the position left by Tay Huey Ying, who will assume the role of consultant to the real estate firm.The firm...
Continue Reading • 1 Apr 2011
Low Keng Huat seeks more land for new homes
Property and construction group Low Keng Huat (Singapore) is seeking to acquire more mass-market residential sites, as it plans to expand its property development portfolio, said Low Keng Boon, the company’s Managing Director.Currently, the company is jointly developing The Minton project...
Continue Reading • 1 Apr 2011
Two top officials to oversee Tianjin Eco-City project
The Singapore government has reassigned two senior officials to the Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC).Tang Wai Yee, the former JTC Corporation Director, will assume the position of Deputy CEO at SSTEC and will be responsible for physical planning and...
Continue Reading • 1 Apr 2011
Samsung unveils new range of Smart TVs
Samsung Electronics Co. Ltd, the world’s leader in consumer electronics, has launched the full line-up of its 2011 Smart LED and Plasma TVs, which will be available in Singapore starting April this year.The 2011 line-up features the new 3D Blu-ray technology and innovative home...
Continue Reading • 31 Mar 2011
Early 2011 mortgage approvals spike in Australia
Home loan approvals in Australia witnessed a 20 percent increase in January and February, according to Dean Rushton, Chief Operating Officer at Loan Market.He noted that despite a recovery in mortgage activity, the floods in Australia and the increase in interest rates experienced in the past...
Continue Reading • 31 Mar 2011
Foreigners hot for Sentosa Cove bungalows
The number of foreigners buying bungalows in Sentosa Cove has increased, while other pricey locations in the city have experienced a decline.The number of expats in Singapore who are purchasing bungalows in pricey locations in the city, including Districts 10, 11 and 21, fell last year, compared...
Continue Reading • 31 Mar 2011
URA closes tender for Bartley Road site
The Urban Redevelopment Authority (URA) has closed the tender for the residential site at Bartley Road / Lorong How Sun, after receiving a total of eight bids. The highest bid came from a tie-up between Intrepid Investments Ltd, Sunmaster Holdings Ltd and TID Residential Ltd at S$413.27...
Continue Reading • 31 Mar 2011
Singapore's mass market property prices hit record high
Singapore’s resale capital values rose in the first quarter of the year, although more upward pressure was seen outside the prime districts in the Central and East Coast areas, according to preliminary estimates released by Jones Lang LaSalle (JLL).According to the global real estate...
Continue Reading • 31 Mar 2011
Latest BTO projects receive overwhelming response
The 1,527 flats in the Housing Development Board’s (HDB) two latest Built-to-Order (BTO) projects in Sengkang and Jurong West were seven times oversubscribed upon the closing of applications on 30 March 2011.This exceeded experts’ expectations of four times the units on offer, ranging...
Continue Reading • 31 Mar 2011
US regulators enforce new mortgage standard
A group of federal regulators has announced a new standard for home buyers to obtain the best mortgage rates: only those who can provide a 20 percent down payment and have had no previous problems in paying mortgages can qualify.This is to prevent practices that saw many risky home loans...
Continue Reading • 30 Mar 2011
China to continue clamp down on property prices
Beijing wants to ensure that prices of ordinary housing remains “stable” this year, relative to the levels seen in 2010, with some declines possible, according to a city official.The central government has been working hard to curb the increasing cost of new homes, which has turned...
Continue Reading • 30 Mar 2011
Bigger bonuses for CDL's Kwek brothers
The pay package for the two Kwek brothers of property and hotels company City Developments Ltd (CDL) increased by as much as S$1.5 million each for the year ended 31 December 2010, according to CDL’s latest annual report.CDL’s Executive Chairman Kwek Leng Beng received “above...
Continue Reading • 30 Mar 2011
HDB launches sale of Sengkang site
The Housing Development Board (HDB) has launched a tender for a residential site at the junction of Buangkok Drive and Sengkang East Drive, under the confirmed list of the 1H2011 Government Land Sales (GLS) programme.Located in the east side of Sengkang New Town, the land parcel has a site area...
Continue Reading • 30 Mar 2011
URA launches two residential sites for tender
The Urban Redevelopment Authority (URA) has put up two 99-year leasehold sites at Jalan Loyang Besar / Pasir Ris Drive 4 and Sembawang Road / Jalan Sendudok for sale through a public tender.The two sites, which can yield a total of up to 970 units, were made available for sale under the confirmed...
Continue Reading • 30 Mar 2011
Is Sentosa Cove losing its appeal?
Only eight non-landed homes were sold during the first two months of 2011 in Sentosa Cove, once a hot spot for property investment in Singapore.This represents a decrease from the 17 transactions in Q4 2010 and well below the 71 transactions in Q2 2010. The opening of City Developments’...
Continue Reading • 30 Mar 2011