REDAS: Cooling measures stabilising the market
The latest property measures implemented by the government have begun to effectively stabilise the market, according to the Real Estate Developers Association of Singapore (REDAS).“There’s a drop in volume but I think that’s expected, because of hesitation and...
Continue Reading • 15 Feb 2011
HDB dwellers snap up more shoebox units
Buyers with Housing Development Board (HDB) addresses lodged 1,016 caveats for private apartments below 500 sq ft in 2010, approximately 17 times the 59 units acquired by HDB dwellers in 2006, according to an analysis of Urban Redevelopment Authority (URA) Realis caveats data.These small units...
Continue Reading • 15 Feb 2011
China property tax pushes up rental rates
The latest property measures implemented by the central government are providing extra momentum for rent increases in many Chinese cities, according to a survey conducted by the China Youth Daily.The survey showed that 81.6 percent of the 4,060 respondents mostly from cities like Shanghai and...
Continue Reading • 14 Feb 2011
Indians snapping up Singapore prime properties
About 20 percent of properties sold in Singapore from 2000 to 2010 were acquired by foreign buyers, with Indians accounting for 12 percent, based on data from the Urban Redevelopment Authority (URA).Today, even as the anti-speculative measures announced by the government have had some effect,...
Continue Reading • 14 Feb 2011
World economy outlook remains mixed
The Singapore economy will likely see a four to six percent growth in 2011 but the outlook for the world economy is still mixed, said Heng Swee Keat, Managing Director of Monetary Authority of Singapore (MAS).Financial markets will likely be volatile in the coming months, as reflected by the...
Continue Reading • 14 Feb 2011
Sales of Hong Kong resale homes picking up
Sales in Hong Kong’s secondary home market are picking up again, said realtors.Buggle Lau Ka-fai, Chief Analyst at Midland Realty, said the “number of secondary transactions in major residential projects rose to around 40” last week, “which is close to the normal...
Continue Reading • 14 Feb 2011
Real estate market to withstand cooling measures
A residential project located in Sembawang received strong response during its launch over the weekend, furthering expectations that the real estate market will withstand the recent set of cooling measures announced by the government.More projects will be launched over the next two months to...
Continue Reading • 14 Feb 2011
Top-end mortgages unaffected by measures
The latest property measures implemented by the government have affected the demand for new loans at the lower end of the market but not at the high end, said Piyush Gupta, Chief Executive of DBS Group.Mr. Gupta said it is still “too early” to predict how much impact the latest...
Continue Reading • 14 Feb 2011
GLP posts strong Q3 profit
Global Logistic Properties (GLP), a wholly-owned subsidiary of Singapore sovereign wealth fund GIC, has announced that its net profit for the third quarter rose 2.1 percent to US$82.1 million, from the US$305.4 million recorded in the previous year.Revenue climbed 12.9 percent to US$125.2...
Continue Reading • 14 Feb 2011
US mortgage rates rise to 10-month high
Mortgage rates in the United States rose to a 10-month high, reducing affordability rates for home buyers, as the market struggles to recover from dip levels.Mortgage-finance company Freddie Mac said 30-year fixed-rate mortgages climbed 5.05 percent in the week ended 10 February, while the...
Continue Reading • 11 Feb 2011
Hangzhou home prices highest in China
Home prices in Hangzhou are the highest in China, with an average home costing of 25,840 yuan psm, while Beijing ranked second, with an average home price of 22,310 yuan psm.This was followed by Shanghai, which recorded a decline in home prices to 19,168 yuan psm, according to the Property Price...
Continue Reading • 11 Feb 2011
10,000 new flats to hit Hong Kong market
Hong Kong’s housing market will likely see at least 10,000 new flats this year but prices are also expected to continue to increase, said Justin Chiu Kwok- hung, Executive Director at Cheung Kong.“More than 17,000 flats will be needed this year and the 10,000 units will not be...
Continue Reading • 11 Feb 2011
JLL sees growth in Phuket
Real estate management group Jones Lang LaSalle (JLL) has announced that it posted more than 20 percent growth in Phuket in 2010, taking the total number of estates it manages on the island to 17.JLL established its Phuket office in 2008 and now seeks to raise the number of its managed estates on...
Continue Reading • 11 Feb 2011
KSH Holdings Q3 net profit up 57%
KSH Holdings has announced that its net profit for the third quarter ended 31 December 2010 rose 57 percent to S$8.2 million, from S$5.2 million over the same period in 2009.“I am pleased to report an increase in net profit for this financial period. This serves as a testament to the...
Continue Reading • 11 Feb 2011
Canberra Residences sees positive response at preview
The preview of the Canberra Residences development received positive response, with 160 of the 200 (around 80 percent) of the units released snapped up.“Canberra Residences is a choice investment for the genuine first-time home buyer and upgrader. The developer has taken great care to meet...
Continue Reading • 11 Feb 2011
Bartley Road residential site up for sale
Located between Bartley Road and Lorong How Sun, the Bartley Road land parcel was made available for sale on 30 November 2009 through the reserve list system. On 18 January 2011, the Urban Redevelopment Authority (URA) said it received an application from a developer who committed to bid at least...
Continue Reading • 11 Feb 2011
Home sales affected by latest cooling measures
The latest measures announced by the government to cool the real estate market have prompted property developers to sell fewer homes. However, they were modest when asked if they were delaying launches and cutting prices.Market sources told The Business Times that developers lowered their target...
Continue Reading • 11 Feb 2011
China to increase PHF mortgage rates
China has announced that it will increase the Public Housing Fund (PHF) mortgage rates for first-time home buyers, in line with the latest increase in the country’s benchmark interest rates.According to a statement released by the Ministry of Housing and Urban-Rural Development, mortgage...
Continue Reading • 10 Feb 2011
Individual serviced apartments for sale in Hong Kong
For the first time, individual serviced apartments are up for sale in Hong Kong.The launch by the Ovolo Group will test the appetite of the market, as well as allow the company to raise cash for expansion, as real estate prices continue to escalate.“This move has been done before, with...
Continue Reading • 10 Feb 2011
Asian stock markets tumbled after interest hike
Asian stock markets fell yesterday, following China’s move to increase interest rates for the third time in four months, in an attempt to control rapidly escalating prices.Market watchers are preparing themselves for further tightening measures, as inflation is likely to remain high, adding...
Continue Reading • 10 Feb 2011