YTL Corp to revamp property division
Conglomerate YTL Corp Bhd intends to house all its real estate development assets and projects under its property development arm YTL Land and Development Bhd.Together with three other wholly owned subsidiaries, YTL Corp entered into 10 agreements and settlement of outstanding intercompany...
Continue Reading • 24 Nov 2010
Savills to strengthen property investment advisory business
Savills Singapore plans to strengthen its property investment advisory business and its residential marketing arm in Singapore in order to expand in the country.The Singapore arm of London-listed Savills plc is now headed by Chris Marriott, the group’s chief executive for Southeast Asia....
Continue Reading • 24 Nov 2010
Stricter measures to curb foreign property speculators
Members of Parliament have approved harsher penalties for foreign property speculators, but asked the government to crack down even more. MPs noted that home ownership is a big issue for many Singaporeans, and further measures to restrict foreigners in the local market should be implemented.This...
Continue Reading • 24 Nov 2010
Small units enjoy strong demand
The number of transactions for residential units below 500 sq ft rose to 625 in the third quarter from 349 in the previous quarter, according to the latest report from DTZ Research.Of the 625 units, 87 percent were acquired from property developers, which reflects the current trend among...
Continue Reading • 24 Nov 2010
Chinese buyers looking to Singapore properties
The presence of Chinese home buyers in Singapore could grow further, as authorities in Hong Kong and the mainland look to curb property speculation.According to property consultancy DTZ, the Chinese accounted for 20 percent of private home transactions involving permanent residents (PRs) and...
Continue Reading • 24 Nov 2010
Tampines site attracts 6 bids
A land parcel at Tampines Avenue 8 has attracted a total of six bids, with a joint bid between Hoi Hup Realty Ltd, Sunway Developments Ltd and SC Wong Holdings Ltd offering the highest bid of $187.59 million, in a public tender that closed yesterday.“The site attracted six bids which shows...
Continue Reading • 24 Nov 2010
1,300 families benefited from rental scheme
About 1,318 Singaporean families have benefited from the government’s Interim Rental Housing (IRH) scheme since it was launched in January 2009.According to National Development Minister Mah Bow Tan, 311 of the total 1,318 families have since moved out of IRH flats.The number of families...
Continue Reading • 24 Nov 2010
Aussie reverse mortgages declining
The number of Australian homeowners choosing to avail reverse mortgages could drop further in 2011, as new federal regulations come into effect.According to News Limited, the new regulations plan to increase information disclosure needed on reverse mortgage deals, as well as ban contracts that...
Continue Reading • 23 Nov 2010
URA awards Peck Seah Street white site
The URA has awarded a white site at the junction of Peck Seah Street and Choon Guan Street to Perfect Eagle Ltd, Guston Ltd and Belmeth Ltd, which offered a joint bid of $1.71 billion in a public tender that closed on November 16.Zoned for commercial, hotel or residential use, the site was...
Continue Reading • 23 Nov 2010
More posh condo units yet to be sold
Many luxury condominium units in Singapore are still vacant even after completion, as the luxury home market remains quiet in the previous years.According to new data released by property consultancy firm CB Richard Ellis (CBRE), 12 condo projects have been completed this year, each with over 10...
Continue Reading • 23 Nov 2010
China's luxury home prices to surpass HK
Luxury home prices in Beijing and Shanghai may climb 15 percent every year to surpass Hong Kong in the next 5 to 10 years, said Joe Zhang, deputy head of China investment banking at UBS AG.Tightening measures of China will not stop prices from escalating and may only “delay” the...
Continue Reading • 23 Nov 2010
Sabana REIT to acquire three industrial assets
Sabana real estate investment trust (REIT), Singapore’s first syariah-compliant REIT, expects to acquire at least three more industrial assets in the country from its sponsor Freight Links Express Holdings in order to boost its portfolio.The trust will raise $664 million from its IPO at...
Continue Reading • 23 Nov 2010
A-Reit to acquire assets outside S'pore
Ascendas Real Estate Investment Trust (A-Reit), which currently owns industrial assets only in Singapore, is seeking to buy properties in other parts of Asia.The trust’s manager has established a representative office in Shanghai, and is “actively exploring” investment...
Continue Reading • 23 Nov 2010
Sim Lian releases more units at Waterview condo
Mainboard-listed Sim Lian Group Ltd. is releasing more units at the Waterview condo project to meet demand, bringing the total number released to 500 units.Sim Lian’s latest project received good response after the official launch last Friday, with 332 out of the 390 units released already...
Continue Reading • 23 Nov 2010
Singapore unlikely to introduce capital controls
Singapore will not turn to capital controls but is ready to take additional measures to ensure sustainable asset markets and financial stability amid an increase in capital inflows to the region for higher returns, said Finance Minister Mr Tharman Shanmugaratnam.Capital inflows to the city-state...
Continue Reading • 23 Nov 2010
Bungalow sales gather momentum
A bungalow located at 6 Coronation Road West, in the Oei Tiong Ham Park Good Class Bungalow (GCB) area, was recently sold at a Colliers International auction, fetching a price of $26.6 million.The one-storey bungalow, which is said to be over 30 years old, has an outhouse, a guesthouse and a...
Continue Reading • 22 Nov 2010
Lenders implement interest-only limits
Brokers have warned that private banks are becoming more cautious about granting interest-only mortgages on high loan-to-value (LTV) ratios, as concerns grow over falling housing prices.Some lenders including Barclays Wealth and Coutts had been willing to lend as much as 80 percent of the value...
Continue Reading • 22 Nov 2010
HK implements another wave of property measures
Hong Kong has implemented additional taxes and increased down payments on residential properties, curbing property price increases following the International Monetary Fund’s warning that asset inflation may derail the city’s economy.Financial Secretary John Tsang said homes sold...
Continue Reading • 22 Nov 2010
Sabana REIT IPO at $1.05 a share
Sabana Shariah Compliant Reit has priced its initial public offering (IPO) at $1.05 per share, the midpoint of an indicative range, in order to raise $491 million, according to a news article in the Business Times.Sabana Reit, the largest syariah-compliant property trust anywhere and the first...
Continue Reading • 22 Nov 2010
Aspial acquires Cardiff Grove site
Aspial Corporation, through its wholly-owned subsidiary, World Class Land Pte Ltd, has acquired a site at Cardiff Grove for $31.63 million.The site has a total land area of 4,772.3 sq m and is zoned for residential use with a gross plot ratio of 1.4. Subject to approval from the relevant...
Continue Reading • 22 Nov 2010