SingXpress wins Balestier site
SingXpress has announced that it won the bid for a $21 million property project located at Balestier Road through a subsidiary.The company plans to redevelop an existing block of 16 flats located at 235 Balestier Road, called Waldorf Mansions, into around 50 apartment units, it said.The site has...
Continue Reading • 29 Nov 2010
Punggol site to be released for sale
Plans to create a vibrant Punggol town will be boosted next week, when a commercial-cum-residential project at the town centre is released for sale through a public tender.The site, which comprises a 685-unit condominium development and a 50,000 sq m commercial space for shopping and leisure, is...
Continue Reading • 29 Nov 2010
China property prices to drop by 20%
Property prices in China will likely drop by as much as 20 percent next year, as cooling measures start to take effect, according to a report from China’s Renmin University.The report said a major period of readjustment will happen in March or April 2011, as the government’s measures...
Continue Reading • 29 Nov 2010
Mortgages increase to 34.5% of bank's portfolio
Singapore banks’ exposure to mortgage loans has increased to 34.5 percent, according to a report by the Monetary Authority of Singapore.Strong demand for homes has resulted in 20 percent housing loan growth on a year-on-year basis this year, since hitting a low record early last year, said...
Continue Reading • 26 Nov 2010
HK property tycoons yielding to Beijing
The latest measures implemented by the Hong Kong government to curb property prices may suggest that developers are ceding control over to Beijing, said Todd Martin, Asian strategist at Societe Generale.“The really important thing about these new property restrictions is their symbolic...
Continue Reading • 26 Nov 2010
HK residential property prices likely to fall 10%
Hong Kong residential property prices will likely fall up to 10 percent in the coming months, said a senior executive from property developer Wheelock and Co Ltd, days after the government’s announcement of its toughest market-cooling measures this year.Housing prices in the city have...
Continue Reading • 26 Nov 2010
Asian property markets can expect further regulations
Property markets across Asia can expect further regulations in the coming months, as authorities attempt to curb rising housing prices without causing a crash.Last week, the Hong Kong government announced its fifth batch of measures for this year, as the city-state struggles to curb speculation...
Continue Reading • 26 Nov 2010
Government maintains stand to control asset inflation: JLL
The 1H2011 GLS Programme shows that the government has maintained its stance by placing 30 sites for residential development or about 14,300 housing units, said Jones Lang LaSalle (JLL).A total of 17 sites or 8,100 housing units were put up under the Confirmed List for 1H2011, which indicates...
Continue Reading • 26 Nov 2010
Property prices could rise again
Excess liquidity and low borrowing costs across the world may push Singapore’s property prices higher again, holding back the government’s efforts to cool the red-hot property market, said the central bank.According to a report released by the Monetary Authority of Singapore, possible...
Continue Reading • 26 Nov 2010
HDB awards Tampines Avenue 8 site
HDB has awarded a land parcel at Tampines Avenue 8 to Hoi Hup Realty Ltd, Sunway Developments Ltd and SC Wong Holdings Ltd after they offered a joint bid of $187.59 million in a public tender that closed on November 25.The Tampines Avenue 8 site has a total area of 20,600 sq m and a maximum gross...
Continue Reading • 26 Nov 2010
More land sites in 2011
The Ministry of National Development (MND) has announced that it will place 17 sites on the Confirmed List of the 1H2011 GLS Programme.The sites, which comprise 16 residential sites including 3 EC sites, and 1 commercial and residential site, can potentially yield a total of 8,100 residential...
Continue Reading • 26 Nov 2010
Home loan purchase applications up in the US
Home loan applications in the US were boosted by the highest purchase index since the homebuyer tax credit expired in April.Overall loan applications rose 2.1 percent last week, the biggest jump since early May. This reflects improvements in the position of potential home buyers, said the...
Continue Reading • 25 Nov 2010
HK-style measures unlikely to be seen in Singapore
The new property measures aimed at cooling the Hong Kong property market are unlikely to be imposed in Singapore any time soon, according to some industry experts.They noted that the Singapore market is not at the same frenzied level as HK, while recent measures implemented by the government need...
Continue Reading • 25 Nov 2010
China to conduct nationwide property checks
A nationwide property inspection will be conducted in China as part of the government’s implementation of property measures, according to The China Daily.The “large-scale” property checks will focus on local government’s efforts to ensure affordable housing, guarantee...
Continue Reading • 25 Nov 2010
CDL tops out W Singapore Sentosa Cove
City Developments Limited (CDL) has marked a milestone in the construction of its iconic Quayside Isle with the topping out of Singapore’s only marina hotel, the W Singapore Sentosa Cove.The W Singapore Sentosa Cove is the cornerstone of a new upscale lifestyle precinct that is quickly...
Continue Reading • 25 Nov 2010
HK developers criticise govt on new property measures
Several property developers in Hong Kong have criticised the government’s measures to cool the red-hot property prices, saying that the new measures were likely to scare off ordinary buyers rather than wealthy speculators.Henry Cheng, managing director of New World Development, described...
Continue Reading • 25 Nov 2010
Roxy-Pacific unveils plans for Kovan Centre site
Property developer Roxy-Pacific Holdings plans to redevelop Kovan Centre in Yio Chu Kang into a residential-cum-commercial building.The company said it will redevelop Kovan Centre into Space @ Kovan, which will house 56 commercial units and 140 residential apartments. In September 2009, it...
Continue Reading • 25 Nov 2010
Ascott Raffles Place could be up for sale
Ascott Raffles Place is said to be on the market under an expression of interest exercise, with the price tag expected to be around $250 million, according to The Business Times.If a buyer emerges, The Ascott Limited, which owns the 999-year leasehold building, is expected to offer the asset to...
Continue Reading • 25 Nov 2010
UK mortgage lending rises
Mortgage lending in the United Kingdom increased slightly in October compared to the previous month, but conditions in the UK housing market continue to deteriorate, as home loan approvals eased yet again to a 19-month low, according to data released by the British Bankers Association (BBA).The...
Continue Reading • 24 Nov 2010
Shareholders approve MCL Land delisting
MCL Land has announced that its proposed voluntary delisting was approved by shareholders in an extraordinary general meeting held yesterday.The acceptance meets the condition for the exit offer made by Hongkong Land, parent company of MCL Land.Hongkong Land, which holds a 79 percent stake at MCL...
Continue Reading • 24 Nov 2010