UK net mortgage lending likely to decline in 2011
Net mortgage lending in the UK will likely decline by a third in 2011, as the residential market shows continued weakness, according to London-based lobby group Council of Mortgage Lenders (CML).According to CML, net mortgage lending will plunge S$12.3 billion (£6 billion) next year,...
Continue Reading • 16 Dec 2010
APF gets new executives
The managers of Asia Property Fund (APF) - LaSalle Investment Management and Prudential Property Investment Management (Singapore) Ltd - named Yung Ho as the investment manager and Erle Spratt as fund manager.As an investment manager, Ms. Ho will oversee the implementation of the company’s...
Continue Reading • 16 Dec 2010
Credit Suisse positive on Singapore residential market
While other research houses see risks in Singapore’s residential real estate market, Credit Suisse analysts are optimistic on the sector. Credit Suisse said in a recent report that it expects to see 15 percent year-on-year increase in Singapore’s residential property...
Continue Reading • 16 Dec 2010
Tuan Sing acquires Serene House for $99.1m
Property group Tuan Sing Holdings Limited, through its wholly-owned subsidiary Shelford Properties Ltd, has acquired the Serene House site for around S$99.1 million.The acquisition of Serene House is subject to approval of the Strata Titles Board upon the company receiving an in-principle...
Continue Reading • 16 Dec 2010
Sales volume for private residential units up 79%
The URA monthly sales volume for private residential units excluding executive condominiums (ECs) rose by 79 percent month-on-month to 1,909 units in November.The increase was led by a sharp recovery in sales activity in the Outside Central Region (OCR), which saw a 2.7 percent growth in sales...
Continue Reading • 16 Dec 2010
Private home sales second highest in November
A total of 2,084 private homes were sold last month, marking the highest number of sales per month this year since April.A large portion of these transactions came from only three relatively new projects – Spottiswoode Residences, Waterview and The Lakefront Residences. Together, these...
Continue Reading • 16 Dec 2010
11,849 units unsold in launched projects
Property developers are sitting on 11,849 unsold units in private residential projects that have already been released in the market.As of end-November, developers had a stockpile of 11,849 units in projects that have already begun marketing, based on data compiled by The Business Times using...
Continue Reading • 16 Dec 2010
Beijing property show attracts wealthy buyers
The three-day 2010 Beijing Luxury Properties Showcase, which was held this weekend at the Ritz-Carlton Hotel, drew more than 4,000 high-net-worth individuals. With the government property cooling measures taking effect in China, many well-off real estate buyers are looking for investments...
Continue Reading • 15 Dec 2010
US mortgage fraud rose 7%
Number of reports for probable mortgage fraud in the US rose 7 percent in H1 2010, as banks scoured older mortgages for problems, according to a government report.The Financial Crimes Enforcement Network (FinCEN) said banks have filed 35,135 reports of suspicious loans leading to mortgage fraud...
Continue Reading • 15 Dec 2010
Fund managers optimistic on emerging market equities
Fund managers are optimistic on prospects for Asian equity markets and the emerging markets in 2011, according to a report by the wealth management unit of OCBC Bank.“Most fund managers were more optimistic about the economic and earnings outlook for 2011 compared to this year,” said...
Continue Reading • 15 Dec 2010
Thakral eyeing Australia property market
Mainboard-listed Thakral Corporation has unveiled plans to tackle the Australian property market, as well as set up a joint venture company for property investments.The consumer electronics distributor, strategic property and equity investments company said it has set aside between $15 million...
Continue Reading • 15 Dec 2010
Seletar Road site draws 11 bids
The URA announced that a land parcel at Seletar Road has attracted a total of 11 bids, with Asplenium Land Ltd offering the highest bid of $123 million, or about $5,032.94 psm of gross floor area (GFA).The 99-year leasehold residential site was launched for sale on October 26 under the confirmed...
Continue Reading • 15 Dec 2010
Morgan Stanley to shut down SKorea business
Global financial services firm Morgan Stanley will close its property investment business in South Korea before the year ends in order to focus more on other Asian markets, according to several sources.The sources said that after investing in the property market for over 10 years, Morgan Stanley...
Continue Reading • 15 Dec 2010
First St. Regis residential development debuts in Thailand
Minor International and Starwood Hotels & Resorts Worldwide have announced the launch of The Residences at The St. Regis Bangkok, the first St. Regis development in Thailand.“What a pleasure to be celebrating the official launch of this long-awaited project,” said William E....
Continue Reading • 15 Dec 2010
Asia-Pac hotel room prices up 15% in Q3
Hotel room prices in the Asia Pacific have jumped by 15 percent in the third quarter from the first quarter of 2004, the highest worldwide on higher demand for accommodation, said Johan Svanstrom, Asia Pacific vice president and managing director of Hotels.com.“The prices paid in Asia...
Continue Reading • 15 Dec 2010
Soilbuild to exit on SGX
Soilbuild Group Holdings announced that the Singapore Exchange Securities Trading Limited has confirmed that the firm will delist from the Official List of the SGX-ST on December 20.The company applied for a voluntary delisting from SGX following Dolphin Acquisitions’ exit offer of 80 cents...
Continue Reading • 14 Dec 2010
Low Keng Huat profit slips 9% in Q3
Singapore-based Construction group Low Keng Huat has recorded a 9-percent decline in net profit in the third quarter, as construction revenue slipped.Revenue for the third quarter dropped 70 percent to $61.5 million from $205 million in the previous year, while earnings fell to $15.2 million from...
Continue Reading • 14 Dec 2010
Cushman & Wakefield plans expansion in Australia
Cushman & Wakefield, one of the largest property agents in the world, is planning its expansion in Australia.Glenn Rufrano, chief executive and president of the company, said he expected to open corporate offices in Brisbane and Melbourne.While the company has a head-office-owned operation in...
Continue Reading • 14 Dec 2010
No problems seen for 5/95 home loans repayment in Malaysia
As the time period for repayment of homes in Malaysia, acquired under the 5/95 home loan scheme, approaches, everyone is watching if buyers can repay their loans amid forecasts that the economy will slow down in 2011.According to a banking industry source, 20 percent to 30 percent had begun...
Continue Reading • 14 Dec 2010
Home prices in HK entering a bubble
Home prices in Hong Kong may be entering a “bubble” amid soaring liquidity and government efforts to cool the real estate market, said JPMorgan Chase & Co.Residential property values-to-gross domestic product has surpassed the city’s peak of 3.13 times in 1997 and may...
Continue Reading • 14 Dec 2010