Singapore investors eyeing KL and London markets
After nearly a decade of preferring to invest in Singapore and Australia, savvy Singaporean investors are now setting their sights on Kuala Lumpur and London, said Tim Murphy, Founder and Managing Director of IP Global.With Malaysia’s economy expected to expand 5.3 percent this year and...
Continue Reading • 20 Jan 2011
Latest cooling measures may dampen market transactions
The recent set of property cooling measures will likely dampen market transactions over the next few months, said DBS.Since the longer holding period and purchasing confidence force buyers to re-assess their buying decisions, primary sales volume is forecasted at only 10,000 units for this...
Continue Reading • 20 Jan 2011
US mortgage applications continue to rise
US mortgage applications climbed for the third consecutive week, as the number of home owners looking to refinance their mortgages continue to soar from a one-year low.The Mortgage Bankers Association’s index of mortgage applications rose five percent in the week ended 14 January. Purchase...
Continue Reading • 20 Jan 2011
Global direct property investment volumes up 50%
Global transaction volumes reached US$316 billion for the full year 2010, up 50 percent from the 2009 levels, said global capital market experts at Jones Lang LaSalle (JLL).After hitting a low of US$209 billion for the full year 2009, global direct commercial property volumes were boosted by an...
Continue Reading • 20 Jan 2011
HK home sales thrive despite price-cooling measures
Real estate sales and prices in Hong Kong recovered strongly last week, suggesting that the market had overcome its jitters over the expected severity of the cooling measures announced by the government in November to rein in price growth, said analysts.Two months after the introduction of...
Continue Reading • 20 Jan 2011
SLA to purchase 600,000 sq ft of land
The Singapore Land Authority (SLA) is acquiring about 600,000 sq ft of land for the construction of the first phase of the North South Expressway, which stretches from Admiralty Road West to Toa Payoh Rise.This is the first major compulsory land acquisition since 2001, when the SLA bought some...
Continue Reading • 20 Jan 2011
CapitaMall Trust's 2010 DPU climbs 4.6%
CapitaMall Trust Management Limited (CMTML), the manager of CapitaMall Trust (CMT), has achieved a distribution per unit (DPU) of 9.241 cents for the financial year ended 31 December 2010, up 4.6 percent compared to the previous year.This was attributed to the rental increases from new and...
Continue Reading • 20 Jan 2011
Asian economies to see modest growth this year
The rapid economic growth in Asia will moderate slightly this year, even as policymakers try to keep local currencies from appreciating sharply and fight soaring prices with higher interest rates, according to a quarterly poll conducted by Reuters.Growth in the majority of the 13 Asia Pacific...
Continue Reading • 20 Jan 2011
New property measures may kill sales momentum
Property developers will likely see a sharp drop in sales volume to the 500 - 800 unit range in the first two months of 2011, as market players re-evaluate their position after the harsh round of cooling measures announced last week.A moderate rebound in sales volume may be seen when the latest...
Continue Reading • 19 Jan 2011
SGX Q2 profit up 14%
The Singapore Exchange has posted a 14 percent increase in revenue to S$172.2 million in the second quarter, attributed to increased trading activities in the securities market.Meanwhile, its adjusted net profit stood at S$81.7 million and its net profit without adjustment reached S$74.2 million,...
Continue Reading • 19 Jan 2011
UOL acquires Lion City Hotel, former Hollywood Theatre
UOL Group has acquired Lion City Hotel and the adjoining former Hollywood Theatre site for S$313 million.With a freehold land area of 147,909 sq ft, the price tag works out to around S$779 psf of potential gross floor area (GFA), inclusive of development charges of approximately S$77.8 million,...
Continue Reading • 19 Jan 2011
Spottiswoode 18's small units a big hit
Roxy-Pacific Holdings sold about 170 units of Spottiswoode 18 at the project’s Tuesday launch, at an average price of S$1,900 psf.The project’s small units proved to be popular among investors. The majority of the apartments — 150 of the 251 units — are only 387 sq ft...
Continue Reading • 19 Jan 2011
Euro Asia plans residential development in Shandong, China
China-based property developer Euro Asia Premier Real Estate plans to develop a residential project on a Cloud Lake site in Shandong Province.Located on a 103,437 sq m land parcel, the development will comprise six apartment buildings, with a total gross floor area (GFA) of 80,000 sq m and an...
Continue Reading • 19 Jan 2011
Chinese cities curb spending on low-rent housing
Chinese cities spent less than required on low-rent housing and awarded subsidies to applicants who failed to meet the criteria for the benefit, said the National Audit Office in a report.Shanghai, Beijing and 20 other Chinese cities reserved less than the 10 percent requirement of land sale...
Continue Reading • 19 Jan 2011
Bedok Reservoir Road site up for tender
The Urban Redevelopment Authority (URA) has launched the tender for a residential site located at Bedok Reservoir Road, making it the first residential site to be sold via the confirmed list under the H12011 GLS Programme.The 45,622.9 sq m site will have a maximum permissible gross floor area...
Continue Reading • 19 Jan 2011
Fixed loans in Australia increase: Mortgage Choice
The number of fixed loans in Australia rose to a 31-month high in December 2010, according to figures released by Mortgage Choice, Australia's largest independently-owned mortgage broker.Data from Mortgage Choice showed that fixed-rate mortgages rose in December for a third consecutive month,...
Continue Reading • 19 Jan 2011
NTUC Income acquires 49% stake in Savu Investments
NTUC Income announced that it has paid S$101 million for a 49 percent equity stake in Savu Investments, which owns 16 Collyer Quay, formerly known as Hitachi Tower.The 999-leasehold office building is valued at around S$626 million or S$2,250 psf. Located close to the waterfront in the Collyer...
Continue Reading • 19 Jan 2011
CCT's 2010 DPU up 11%
CapitaCommercial Trust Management Limited, manager of CapitaCommercial Trust (CCT), has announced that its distributable income rose 11.3 percent to S$221 million in the fiscal year ended 31 December 2010, while estimated distribution per unit (DPU) in FY2010 increased 10.9 percent year-on-year...
Continue Reading • 19 Jan 2011
Demand for shoe-box apartments to stay
The demand for “shoe-box” apartments will likely stay, said Ching Chiat Kwong, CEO of Oxley Holdings.“If you look at the way Singapore is developing — high economic growth, rising home-owning aspirations, more local and expatriate singles, young couples who prefer dogs...
Continue Reading • 18 Jan 2011
Developers announce positive weekend sales
Real estate developers continued to report transactions yesterday, with Oxley Holdings announcing that it has sold 22 of the 36 residential units and three of the five shop units at Vibes@Kovan, which was launched over the weekend.The 22 apartments, ranging from 377 sq ft to 1,001 sq ft, fetched...
Continue Reading • 18 Jan 2011