Property Edge gets new CEO
Property Edge International has appointed Tony Koe as the new chief executive officer starting 1 December 2010.Prior to this appointment, Mr. Koe served as General Manager for KF Property Network Ltd, the residential associates division of Knight Frank, between April 2006 and October 2010.Mr. Koe...
Continue Reading • 22 Nov 2010
Institute of Estate Agents gets global achievement award
Singapore’s Institute of Estate Agents (IEA) has received the Global Outreach Award of the Year from the National Association of REALTORS (NAR).The award was presented on the sidelines of a convention, held from November 4 to 8 at the New Orleans Convention Centre in Louisiana. It was...
Continue Reading • 22 Nov 2010
Financial One may delist on SGX
Taiwan’s Financial One Corporation may soon delist on the Singapore stock exchange, after a poor response from investors since its listing in 2007.Financial One, the first and only Taiwanese company listed on the SGX, said the company’s executive chairman Andre Koo is planning an exit...
Continue Reading • 19 Nov 2010
Asia to remain robust next year, says MTI
Asia’s macroeconomic conditions are expected to see supportive growth next year, said the Ministry of Trade and Industry.The advanced economies will continue to grow albeit at a slower pace, and the rebound in business investment will continue to pick up, fuelled by accommodative monetary...
Continue Reading • 19 Nov 2010
UK mortgage lending down 9% on-year
Mortgage lending in the UK dropped to its lowest level in October, as activity in the residential market remain subdued, according to latest figures.About £12.4 billion had been lent during the month, unchanged from the September result but down 9 percent compared with October last year,...
Continue Reading • 19 Nov 2010
200 units sold at Waterview condo
Property developer Sim Lian has already sold 200 units at the Waterview condo project at Bedok Reservoir since the preview started last week, with an average selling price of $838 psf.So far, Sim Lian has released 50 percent or 348 units of the 696-unit Waterview condo, which will be officially...
Continue Reading • 19 Nov 2010
Undergrad a millionaire at just 22
According to a recent newspaper article, there’s a 22-year-old undergraduate in Singapore who already owns properties and luxury cars worth more than S$5 million.Only known as Ah Long, it’s understood that his parents bought him two condo units valued at S$2.2 million. He had earlier...
Continue Reading • 19 Nov 2010
80 more units to be released at Spottiswoode
Property group UOL is releasing 80 more units at Spottiswoode Residences after buyers snapped up 130 of the 150 units released during the project’s preview last week.The units were sold at prices of between $1,720 psf and $2,150 psf, and four of the seven penthouses have been sold, with one...
Continue Reading • 18 Nov 2010
Sydney properties a hit with Asian investors
Foreign investors, particularly from Asia, are purchasing an unprecedented amount of land in Sydney including premium homes and office buildings, according to a report by the Daily Telegraph.Demand in the Eastern Suburbs, North Shore and CBD areas is driven largely by new money from Asia,...
Continue Reading • 18 Nov 2010
China unlikely to introduce more property measures
China is unlikely to announce more property-specific measures as the central government shifts its policy focus to inflation control, said Citigroup Inc in a report.Analysts said policy headwinds should ease slightly in the next half year since the government may need to consider the effect on...
Continue Reading • 18 Nov 2010
Mortgage fraud in the US on the rise
The level of mortgage fraud in the United States has increased since last year, with sales of foreclosed homes the most likely target, according to a report released by CoreLogic.Mortgage fraud cases peaked at 109 in 2006, and fell to 68 in early 2009. However, it rose by over 20 percent to 82...
Continue Reading • 18 Nov 2010
Guocoland to build Singapore's tallest residences
Singapore-listed developer GuocoLand has won the tender for a “white” site located above Tanjong Pagar MRT Station, offering the highest bid of $1.708 billion or $1,006 psf ppr among the six bidders.GuocoLand, owned by Malaysian tycoon Quek Leng Chan, plans to develop the tallest...
Continue Reading • 18 Nov 2010
Peck Seah Street site receives six valid bids
The public tender for a white site located at the junction of Peck Seah Street and Choon Guan Street closed on Tuesday, drawing a total of six valid bids.The highest bid came from a joint bid between Perfect Eagle, Guston and Belmeth at about $1.708 billion, followed by a joint bid between RQ...
Continue Reading • 18 Nov 2010
Pine Grove gets nod for en bloc after failed attempts
Pine Grove, a 660-unit property in Ulu Pandan, is likely to be put up for collective sale again, with a reserve price of approximately $1.7 billion, according to Channel NewsAsia.If successful, the transaction would be the highest in the en bloc sales market, exceeding the $1.34 billion record...
Continue Reading • 18 Nov 2010
Singapore economy to expand 15% this year
The Singapore economy is likely to see a growth of 15 percent this year and 4 percent to 6 percent next year, said the Ministry of Trade and Industry.Based on preliminary estimates, the Singapore economy expanded 10.6 percent in Q3 from the previous year, compared to a record growth of 19.5...
Continue Reading • 18 Nov 2010
Private home sales up 16%
The URA monthly sales volume jumped 16 percent month-on¬-month to 1,058 units in October, pointing to a sooner-than-expected recovery in sales after the state intervention in August, according to Jones Lang LaSalle (JLL).“While we had expected the latest measures, which are restrictive...
Continue Reading • 16 Nov 2010
China intensifies restrictions on foreign home buyers
The central government of China has ordered first-time foreign home buyers to present proof that they do not own other properties within the country, in a move to curb gains in the property market, said the housing ministry and currency regulator.The State Administration of Foreign Exchange and...
Continue Reading • 16 Nov 2010
Serene Centre, Serene House launched for sale
Colliers International has put up Serene Centre and Serene House, both off Bukit Timah Road, for sale.Serene House is a freehold four-storey walk-up residential block with 24 apartments. Under the 2008 Master Plan, the 39,828 sq ft rectangular site is zoned for residential use with a gross plot...
Continue Reading • 16 Nov 2010
St. Regis opens first luxury resort in Tibet
Starwood Hotels & Resorts Worldwide, Inc. has opened The St. Regis Lhasa Resort, the first-ever luxury resort in Tibet and the first property for St Regis in China.“We are proud to debut the St. Regis brand in China with the opening of The St. Regis Lhasa Resort, offering our discerning...
Continue Reading • 16 Nov 2010
US borrowers go for fixed-rate mortgages
In the third quarter, about 95 percent of US borrowers chose fixed-rate contracts when refinancing their homes, according to the US Federal Loan Mortgage Corp.US homeowners who previously had adjustable-rate loans or 30-year loans were likely to choose 30-year fixed-rate mortgages when...
Continue Reading • 16 Nov 2010