GCB transactions hit $1.85b
Good Class Bungalow (GCB) transactions in Singapore hit $1.85 billion year-to-date, an increase of 7.3 percent from the $1.72 billion deals recorded last year, based on CB Richard Ellis's analysis of URA Realis caveats information.However, according to The Business Times, at least $100 million...
Continue Reading • 9 Dec 2010
S'pore hailed as Asia's best property investment market for 2011
Singapore has been named the best property investment market in Asia Pacific for next year, according to an Emerging Trends report jointly published by the Urban Land Institute (ULI) and PwC.Rounding out the list of the five most favoured investment markets are Shanghai, Mumbai, New Delhi and...
Continue Reading • 9 Dec 2010
Singapore's economy to grow 5.1% in 2011
Economists expect a 5.1 percent growth in Singapore’s economy in 2011, moderating to only a third of the 15 percent expected growth this year.The median estimates from 22 economists polled by the Monetary Authority of Singapore (MAS) last month were each 0.1 of a percentage point higher...
Continue Reading • 9 Dec 2010
Bank branch and two petrol stations up for auction
Global real estate services firm Jones Lang LaSalle (JLL) has been appointed by JTC Corporation to manage the sale by auction of three properties, including two petrol stations located at 302 and 400 Jalan Ahmad Ibrahim and a bank branch located at 325 Boon Lay Place.The property at 302 Jalan...
Continue Reading • 9 Dec 2010
Samsung launches two new portable music players
Samsung Electronics Co., Ltd., has introduced two user-friendly portable music players that will appeal to entertainment seekers on the go, the YP-Q3 and YP-U6.The devices are designed to match the lifestyles of young and discerning consumers with a host of innovative features and...
Continue Reading • 9 Dec 2010
HK luxury home prices to rise 15% in 2011: CBRE
Prices of luxury homes in Hong Kong, which have increased by more than 60 percent since early last year, may continue to increase by as much as 15 percent next year, attributed to a lack of new supply and low interest rates, according to CB Richard Ellis (CBRE).Overall, home values will increase...
Continue Reading • 9 Dec 2010
China property prices may fall next year
Property prices in China will likely drop next year, as the central government remains committed to curb speculation in the property market by tightening monetary policies, according to a top government think-tank.Property developers are expected to reduce prices in the first quarter next year to...
Continue Reading • 9 Dec 2010
US mortgage refinancing activity slows down
Mortgage refinancing activity in the United States has slowed, attributed to the rising interest rates in the mortgage market.Applications to refinance existing mortgages into loans with lower rates have declined for four straight weeks and are now at the lowest level since June this year,...
Continue Reading • 9 Dec 2010
Property curbs prompted by some speculators
The Singapore government had to introduce cooling measures to curb speculation within the public housing market due to a small group of private real estate owners, said Mrs. Lim Hwee Hua, Minister in the Prime Minister's Office.“(The Housing and Development Board's) feedback to us is that,...
Continue Reading • 9 Dec 2010
One million Aussies may switch lenders
About one million mortgage holders are now looking to swap their lenders within the next six months, according to new research released by Newspoll.Research showed that exit mortgage fees are not a hindrance for one in five mortgage holders in Australia who are looking to switch lenders.If the...
Continue Reading • 8 Dec 2010
China to implement property tax before March
The central government of China will likely implement a property tax before the annual meeting of congress begins in March next year, according to a report by China Securities Journal.It added that Shanghai and Chongqing would probably be among the first few cities to launch a trial for property...
Continue Reading • 8 Dec 2010
HK housing prices to moderate in 2011
Housing prices in Hong Kong are expected to increase at a more moderate pace in 2011, after surging in the past two years, as the impact of property measures are starting to take effect, according to property analysts.Like Singapore and other top cities in China and India, Hong Kong is now facing...
Continue Reading • 8 Dec 2010
Analysts bullish on Asian equities
Recent reports from several analysts reflect bullishness on Asian equities, with UBS Investment Bank urging investors to be ‘overweight’ on the stock markets of India, Hong Kong and China.In another report from Nomura Singapore, analyst Lim Jit Soon said he expects 10 percent to 15...
Continue Reading • 8 Dec 2010
GuocoLand China to focus on mega projects
GuocoLand (China) Ltd (GLC), the real estate arm of Malaysia’s Hong Leong Group, plans to go bigger into integrated development in China from its early years of single building projects when it first entered the country.Violet Lee, managing director of GLC, said that after Guoson Centre,...
Continue Reading • 8 Dec 2010
Punggol EC project attracts good response
The Privé executive condominium development in Punggol has seen a good response from home buyers, receiving a total of 1,011 applications for the 680 units available for sale as of December 7.The 99-year leasehold condo comprises two- to four-room units across four 17-storey towers, with...
Continue Reading • 8 Dec 2010
Sim Lian plans unique condo project in Punggol
Sim Lian, which offered the highest bid for a 99-year leasehold private housing plot located near Punggol MRT Station, plans to develop a 16-storey condominium on the 2.75 hectare site.The site can be developed into a condo with around 810 units, and includes Matilda House, the only remaining...
Continue Reading • 8 Dec 2010
Sim Lian tops Punggol bid
A residential site at the junction of Punggol Central and Punggol Walk has attracted a total of 7 bids, with Sim Lian Land Ltd and Sim Lian Development Ltd offering a joint bid of $363 million, or around $4,373.55 psm of gross floor area (GFA).It was launched for sale on October 26 under the...
Continue Reading • 8 Dec 2010
DPS option still available for ECs
Real estate developers can continue offering the deferred payment scheme (DPS) for executive condominiums (ECs) since eligibility and ownership rules prevent speculation in these projects.However, home buyers hoping that the interest-only housing loans (IOL) and interest absorption scheme (IAS)...
Continue Reading • 8 Dec 2010
Singapore the top property investment destination
Singapore and Shanghai are among the Asian Cities considered to be the best property investment destinations, according to an industry survey.Singapore topped the rankings due to its strong economic growth and brisk business activity in the hi-tech and financial industries, according to a survey...
Continue Reading • 8 Dec 2010
Singapore, HK most attractive property markets in Asia
Singapore and Hong Kong are Asia’s most attractive markets for real estate investment, said property investment house Pacific Star Group.Pacific Star ranked 11 markets in Asia based on several factors including economic outlook, expected total returns, projected property vacancy rates, ease...
Continue Reading • 7 Dec 2010