Home buyers to receive early price list
The Urban Redevelopment Authority (URA) will be enhancing the Housing Developers Rules (HDR) and the Housing Developers (Control & Licensing) Act (HDCLA) to give more home buyers better access to timely information about the market and units which they are planning to purchase, said Minister...
Continue Reading • 17 Mar 2011
Asian REITs market strengthened in H2 last year
Asian Real Estate Investment Trust (REIT) markets intensified in the second half of last year, as purchasing activity increased and interest in Initial Public Offerings (IPO) strengthened, according to the 2H 2010 edition of REITs Around Asia released by CB Richard Ellis (CBRE).A total of US$5.6...
Continue Reading • 17 Mar 2011
Newton Lodge up for collective sale
Newton Lodge, a 16-unit freehold apartment block at 41 Newton Road, has been launched for collective sale with an indicative price of S$40 million.CB Richard Ellis (CBRE), which is marketing the property, said a development charge of approximately S$2.18 million has been estimated, based on March...
Continue Reading • 17 Mar 2011
Newton View changes hands for S$147.6m
Newton View, a 37,577 sq ft freehold site, has been sold to Novelty Group for S$147.6 million through an en bloc sale.This works out to around S$1,403 psf of potential gross floor area (GFA). Savills Singapore, which brokered the deal, said no development charge (DC) is payable based on the 2.8...
Continue Reading • 17 Mar 2011
Smaller residential units still popular
Smaller-sized units have remained popular, despite the proportion of buyers declining to 33 percent in January this year.Based on the new-sale caveats lodged since January 2010, DBS found that the proportion of buyers who purchased smaller flats of less than 800 sq ft in size rose to 34 percent...
Continue Reading • 17 Mar 2011
Singapore's private home sales decline
Sales volume for private residential units, excluding executive condominiums (ECs), dropped nine percent month-on-month to 1,101 units in February, according to data released by the Urban Redevelopment Authority (URA).This comes on the back of the increase in developers’ launches for new...
Continue Reading • 16 Mar 2011
Unexpected hike in Aussie mortgage arrears
The Fitch Ratings quarterly Dinkum Index shows that delinquent mortgages in Australia jumped from 1.3 to 1.37 percent in Q4 last year.The increase was attributed to the growing number of people who were already one or two months behind on their home loans, which resulted in serious arrears of 90...
Continue Reading • 16 Mar 2011
Pearl Bank to bid for third en bloc sale
The 280-unit Pearl Bank Apartments near Chinatown is planning to pull off its third collective sale, with an indicative price of S$750 million.If the S$750 million sale is completed this time, owners of the two-bedroom units will gain approximately S$1.81 million each, while penthouse owners...
Continue Reading • 16 Mar 2011
URA grants penthouse duplex subdivision
The owner of a penthouse duplex at Horizon Towers has been granted permission by the Urban Redevelopment Authority (URA) to subdivide the unit into two separate apartments.If sold as a single dwelling, the duplex can fetch its owner, known only as Mr. Ng, over S$3000,000.“The main reason...
Continue Reading • 16 Mar 2011
Pasir Ris DBSS site up for tender
A land parcel at the junction of Pasir Ris Central and Pasir Ris Drive 1 has been launched for sale under the Design, Build and Sell Scheme (DBSS).Located within Pasir Ris Town, the site has a total area of 16,388.2 sq m with a maximum gross floor area (GFA) of 45,886.96 sq m and a gross plot...
Continue Reading • 16 Mar 2011
Sengkang Square site attracts top bid of S$286.8m
A land parcel at the junction of Sengkang Square and Compassvale Road attracted the highest bid of S$286.8 million in a public tender that closed on 15 March.“The top bid of S$286.79 million or S$502 psf ppr translates to a breakeven cost of around S$850 psf,” said Li Hiaw Ho,...
Continue Reading • 16 Mar 2011
DMG reviews REITs affected by Japan quake
DMG Research has pegged Saizen real estate investment trust (Reit) one of the most affected Singapore-listed companies to emerge from the recent earthquake to hit Japan.Saizen has 22 of its 146 properties in Japan located near the epicentre of the tsunami in Sendai.“In total, all six...
Continue Reading • 15 Mar 2011
Central London property remains a safe investment
The property market in Central London has been recovering continuously in recent months, with strong price growth and resilient demand for properties.While prices in the broader UK market dropped by more than one percent in the year to January, Central London saw continued double digit increase,...
Continue Reading • 15 Mar 2011
Hong Kong's mortgage increase dampens sales
Sales of Hong Kong flats dropped after two major mortgage lenders decided to raise their interest rates for HIBOR-based mortgage plans.According to the latest HIBOR-based data, HSBC’s loan rate rose between 1.17 and 1.57 percent, from 1.07 and 1.27 percent, while the Bank of China (HK) has...
Continue Reading • 15 Mar 2011
More stringent home-buying regulations for Beijing
In an attempt to rein in the overheating real estate market, Chinese authorities have banned the local government from selling land above record highs.The Ministry of Land and Resources also said it will raise the supply for public rental housing and fixed-price small- and medium-sized units this...
Continue Reading • 15 Mar 2011
The Holland Collection sold out
A joint venture (JV) between CLSA Capital Partners and Lippo Group has sold the remaining 14 condo units in the 26-unit freehold property The Holland Collection at slightly more than S$50 million, or about S$1,600 psf, on average.The buyer of the remaining units, which comprise two-, three- and...
Continue Reading • 15 Mar 2011
UK mortgage lending continues to fall
Mortgage lenders in the UK advanced 26 percent less funding for home purchases in December compared to the previous month, a sharp decline attributed to greater uncertainty in the market.The Council of Mortgage Lenders (CML), which released the data on Friday, noted that purchasers may have been...
Continue Reading • 14 Mar 2011
Shanghai Spring 2011 set for grand opening
Shanghai Spring 2011 is set to be open from 17 to 20 March at the Shanghai Exhibition Center. Over 300 property and real estate exhibitors in both domestic and overseas realty have confirmed participation.Spring has also launched its Overseas Property Investment Hall to cater to Chinese property...
Continue Reading • 14 Mar 2011
CB Richard Ellis to manage Infinity Samui in Thailand
CB Richard Ellis (CBRE) Thailand has been appointed the new property manager for Infinity Samui, a new luxury apartment development in Koh Samui by Infinity Properties Company Limited & Vertuz Development.Situated approximately 20 minutes from Samui International Airport, the...
Continue Reading • 14 Mar 2011
Hong Kong home prices hit 13-year high
Hong Kong’s home prices have accelerated to a 13-year high in the week ended 6 March, raising concerns about the effectiveness of government efforts to cool down the sizzling real estate market.The Centa-City Leading Index, compiled by Hong Kong's largest closely held realtor, surged 1.7...
Continue Reading • 14 Mar 2011