Regional property markets to improve this year
Global real estate investors should focus on long-term investment value after the global market recovery, said new research from PRUPIM Singapore, adding that Asia Pacific’s real estate markets will continue to take advantage of the strong economic performance in the region.All three...
Continue Reading • 1 Feb 2011
Hong Kong housing world's most expensive
New World residential real estate markets are a riskier investment yet also bring higher rewards for investors, said a new global survey. It also found that Hong Kong the most expensive centre for each household type, including the global billionaire.The Global Cities survey from Savills showed...
Continue Reading • 1 Feb 2011
Australian mortgage applications drop to eight-year low
Mortgage applications in Australia have dropped to an eight-year low, as high housing prices and increasing interest rates hit the home loan market.The number of mortgage applications by Australian home buyers slipped 19 percent in 2010, according to research by credit agency Veda...
Continue Reading • 1 Feb 2011
Property tax fears lead to surge in Beijing home sales
Home sales have risen in Beijing due to fears that a real estate tax will be introduced. Government statistics showed that nearly 2,093 homes were snapped up last Thursday, up 86 percent from the previous day.The rush to buy flats follows the state council’s implementation of additional...
Continue Reading • 1 Feb 2011
Yanlord, Reco Yizhong acquire Tianjin site
Yanlord Land Group Limited and Reco Yizhong, an affiliate of GIC Real Estate, have jointly acquired a prime residential site in Jinnan District, Tianjin for RMB1.16 billion, or around RMB3,182 psm.Located within the planned Tianjin Haihe Academic Park, the site has a total land area of 364,787 sq...
Continue Reading • 1 Feb 2011
LaSalle expands roles for top officials
LaSalle Investment Management (LaSalle), the leading global real estate investment manager, has announced that Jack Chandler has been appointed its new Global Chief Investment Officer, starting 31 January.In addition, he will also be the new Executive Chairman of LaSalle’s Asia Pacific...
Continue Reading • 1 Feb 2011
Wing Tai's half-year profit up 23%
Wing Tai Holdings has announced that its profit for the half-year ended 31 December 2010 climbed 23 percent year-on-year to S$84.1 million from S$68,650 a year ago. However, revenue dropped 27 percent to S$328.8 million from 2009’s S$451.37 million.The company said revenue results for...
Continue Reading • 1 Feb 2011
Amara CEO to head Redas
Albert Teo, CEO of Amara Holdings, will be the new head of the Real Estate Developers' Association of Singapore (Redas), according to a report from The Business Times.Mr. Teo will take over from SC Global Developments’ Simon Cheong, who has headed the organisation for the maximum two...
Continue Reading • 1 Feb 2011
Hong Kong property market to see robust growth
Hong Kong’s real estate market will likely see strong growth following the Lunar New Year, despite its slowdown ahead of the festive season, said analysts.The local market will also receive a boost from the recent mainland property cooling measures.Sales at its 10 benchmark residential...
Continue Reading • 31 Jan 2011
8,430 private homes scheduled for 2011 completion
Nearly half of the approximately 8,430 new private homes due to be completed this year will be in the upmarket core central region (CCR), according to new data released by the Urban Redevelopment Authority (URA).The government agency has also increased its estimate for the projected supply of...
Continue Reading • 31 Jan 2011
Sing Holdings acquires Robin Star
Sing Holdings has acquired Robin Star at 10 — 12 Robin Road for S$47 million and the company plans to combine the 10-unit boutique property with its previously acquired 1 Robin Drive and Robin Court to make a 6,027.4 sq m site.The total price tag for the freehold property works out to...
Continue Reading • 31 Jan 2011
US mortgage applications continue to fall
The number of mortgage applications in the United States dropped for the third week in January, with the Market Composite Index at nearly 12 percent compared to the previous week, according to a Mortgage Bankers Association (MBA) report.The decline this month is the most significant since 2008....
Continue Reading • 31 Jan 2011
Private property price index up 2% in Q4
The private property price index rose two percent to a new high of 194.8, the lowest percentage growth per quarter since the 2008 financial crisis.“The impact of the 30 August 2010 cooling measures on prices is evident,” said Mr. Mohamed Ismail, CEO of PropNex. “Prices in the...
Continue Reading • 31 Jan 2011
CapitaLand to acquire Marine Point
Southeast Asia's largest property developer CapitaLand has entered into a sale-and-purchase agreement (SPA) to acquire Marine Point for S$100.68 million, with a development charge of approximately S$12.8 million.The total acquisition cost works out to around S$1,056 psf ppr and the SPA is subject...
Continue Reading • 28 Jan 2011
Australia's mortgage repayments set to rise
Monthly mortgage repayments in Australia could surge by as much as A$200, according to a forecast.Economic consultancy firm Access Economics said this figure could be the result of a one percent increase in variable mortgage rates at the end of this year or early next year.It said that interest...
Continue Reading • 28 Jan 2011
Shanghai, Chongqing to begin property tax trials
The Chinese government has approved property tax trials on some housing in Chongqing and Shanghai, in addition to measures unveiled earlier this week as part of its campaign to curb asset bubbles and property speculation.Shanghai will start trials today, it said yesterday on its website. China...
Continue Reading • 28 Jan 2011
Ascott, RMZ Corp to develop Bangalore serviced residence
The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence business unit, has signed a joint venture (JV) agreement with India’s leading property developer, RMZ Corp, to develop a 203-unit serviced residence in Bangalore.Under the agreement, Ascott will hold a 50...
Continue Reading • 28 Jan 2011
Guocoland net profit down 64% in Q2 2010
Guocoland has announced that its net profit for the second quarter ended 31 December 2010 fell 64 percent to S$21.6 million, from S$60.4 million in the previous year, driven by lower gains from Chinese development projects.Revenue in Q2 also sank 55 percent to S$162.8 million over the same period...
Continue Reading • 28 Jan 2011
Bartley Terrace changes hands for S$40m
Bartley Terrace, a residential area located at 16 Gambir Walk, has been sold to Meadows Investment for about S$40 million through a private treaty brokered by Urban Front Real Estate.This works out to around S$760 psf ppr, taking into account a development charge of approximately S$3 million,...
Continue Reading • 28 Jan 2011
Non-PRs outperform PRs in home-buying activity
The increase in the number of homes acquired by non-permanent residents is outperforming that of their PR counterparts — a trend led by Chinese and Indian nationals — according to a new analysis.The number of non-landed private homes bought by foreigners who were not PRs climbed 37.1...
Continue Reading • 28 Jan 2011