Singapore slips in 2010 globalisation rankings
Singapore has slipped to third sport on the Globalisation Index 2010 rankings, behind Hong Kong and Ireland, which occupy the first and second places respectively.The annual index, which measures how globally connected the world’s 60 biggest economies by gross domestic product (GDP) are in...
Continue Reading • 25 Jan 2011
Future launches will test recent cooling measures
The effects of the latest round of property cooling measures could soon be put to the test, as marketing agents and developers gain interest in three new property launches.Far East Organization (FEO) has been marketing The Cape, a 76-unit freehold development located at Amber Road, as “the...
Continue Reading • 25 Jan 2011
FCT's Q1 gross revenue up 19%
Frasers Centrepoint Trust (FCT) has announced that its gross revenue for the first quarter ended 31 December, 2010 surged 19 percent year-on-year to S$27.6 million, mainly due to the acquisitions of YewTee Point and Northpoint 2.The company’s net property income rose 17 percent to S$18.6...
Continue Reading • 25 Jan 2011
HK's new mortgage loans rise in December
The value of new mortgage loans approved in Hong Kong totalled HK$31 billion in December, up 11.3 percent from November, according to data released by the Hong Kong Monetary Authority (HKMA).However, the value of new mortgage loans approved declined in December, down 23 percent to HK$28.9 billion...
Continue Reading • 25 Jan 2011
Keppel Land's Q4 profit climbs eight-fold
Singapore’s third-largest property developer, Keppel Land, has announced that its net profit in the fourth quarter of 2010 reached S$841 million, nearly eight times its S$106.9 million net profit in the previous year.This was attributed to its S$426 million fair value gain from investment...
Continue Reading • 25 Jan 2011
AllProperty Media acquires North Malaysia's leading property site
AllProperty Media Pte Ltd, which owns Singapore’s leading property portal, PropertyGuru.com.sg, has signed a deal to acquire FullHouse Media Sdn Bhd, the company behind North Malaysia’s leading real estate site, FullHouse.com.my.Under the agreement, AllProperty Media will acquire the...
Continue Reading • 24 Jan 2011
Authorities must address asset bubbles decisively: MAS
Real estate bubbles can develop quickly and authorities are determined to deal with these risks, said the Monetary Authority of Singapore (MAS) MD Heng Swee Keat.In dealing with asset bubbles, policymakers must communicate their willingness and resolve to take tougher measures when needed, said...
Continue Reading • 24 Jan 2011
China-Singapore township project receives healthy interest
Various organisations have signed agreements to invest in the upcoming Sino-Singapore Guangzhou Knowledge City.Japanese company Hitachi will be establishing a Hitachi Smart City R&D Centre within the city, focusing on matters relevant to the establishment of “smart cities” in...
Continue Reading • 24 Jan 2011
Australian lenders expected to withstand housing slump
Big banks in Australia can withstand the severe downturn in the housing market but their reliance on offshore wholesale borrowing markets for financing makes them vulnerable, according to a new assessment.Global credit ratings agency Fitch said home prices in Australia “look high”...
Continue Reading • 24 Jan 2011
Suntec Reit's Q4 DPU drops
Suntec Real Estate Investment Trust (Suntec Reit) saw a 19.8 percent year-on-year drop in its distribution per unit (DPU) in Q4 2010, attributed to higher interest expenses from bank loans and convertible bonds.ARA Trust Management (Suntec) Ltd, the manager of Suntec Reit, said that distribution...
Continue Reading • 24 Jan 2011
New property measures taking effect
A recent survey of Propwise.sg subscribers showed that most of the 269 respondents (66 percent) believed that the fourth set of real estate cooling measures announced by the government are harsh enough to prevent the worsening or formation of a bubble in the Singapore property market. Most of the...
Continue Reading • 24 Jan 2011
China expands limits to house purchases
China will expand the limits on real estate purchases to second- and third-tier cities, as it intensifies its efforts to cool the property market, said a report.Authorities have prepared a list of cities that will need to implement the limits, said an unnamed high-level official at the Ministry...
Continue Reading • 24 Jan 2011
First Reit's Q4 revenue down 0.2%
First Real Estate Investment Trust (First Reit) has announced that gross revenue dropped 0.2 percent to S$7.65 million in Q4 2010, while net property income fell 0.3 percent to S$7.56 million.However, the Q4 distributable amount rose 2.8 percent to S$5.43 million. The company’s rights issue...
Continue Reading • 24 Jan 2011
New expressway to affect several properties
The government will acquire several properties along Admiralty Road West and Toa Payoh Rise to make way for the construction of the 15.9 km North-South Expressway (NSE).Some of the affected properties are industrial estates owned by the Housing Development Board (HDB) and Jurong Town Corporation...
Continue Reading • 21 Jan 2011
UK mortgage costs to rise by over GBP 1,000
Many home owners in the UK are now suffering the pain of an impending increase in mortgage rates, as mortgage lenders in the country withdraw their affordable fixed-rate loans ahead of the expected increase, said an expert.A UK lender withdrew some of its most affordable mortgage deals last week...
Continue Reading • 21 Jan 2011
Ascott Reit's unitholders distribution up 108%
Ascott Residence Trust (Ascott Reit) has announced that its unitholders’ distribution for the fourth quarter of 2010 reached S$23.9 million, up 108 percent over the same period in 2009.Distribution per unit (DPU) for Q4 2010 stood at 2.16 cents, up 16 percent from Q4 2009.The trust’s...
Continue Reading • 21 Jan 2011
K-REIT Asia's distributable income rose 21.4% in 2010
K-REIT saw a 21.4 percent increase in distributable income to S$85.6 million for the full year 2010 compared to the previous year.The increase was mainly attributed to net property income, which jumped 37.7 percent to S$67.3 million, as well as the share of results of associated companies, which...
Continue Reading • 21 Jan 2011
MapletreeLog's Q4 distributable income up 17%
Mapletree Logistics Trust (MapletreeLog) has posted a total distributable income of S$37 million in the fourth quarter of 2010, up 17 percent from the previous quarter.Q4 gross revenue rose 12 percent to S$61 million in Q4, with the net property income (NPI) reflecting a 13 percent increase from...
Continue Reading • 21 Jan 2011
Swiss luxury property launches in Singapore
Alpine Homes has launched a special preview of the Mer de Glace Hotel and Spa in Singapore, providing Asian buyers an opportunity to acquire a new luxury chalet-style apartment in a newly-developed hamlet in Nendaz, Switzerland.“Switzerland has always had great appeal for overseas...
Continue Reading • 21 Jan 2011
New rules in China could end property disputes
In an attempt to ease public anger, the Chinese government has issued new rules promising to end illegal forced demolitions and give fair prices to affected homeowners.In a nation where the government legally controls all land, property disputes have been a growing problem for the ruling...
Continue Reading • 21 Jan 2011