Beijing, Shanghai banks tighten mortgage rates again
Commercial banks in Beijing and Shanghai have been ordered to cut the discount on mortgage rates given to first-time homebuyers, from the current 30 percent down to 15 percent of the property’s total value, according to a news report.The 30 percent discount on mortgage rates had been...
Continue Reading • 1 Nov 2010
CapitaLand sets up business unit in China, Vietnam
CapitaLand, the largest property developer in Southeast Asia, has set up a new business unit in China and Vietnam to expand its residential business in both countries.CapitaValue Homes, CapitaLand’s new business unit, will focus on developing affordable and well-designed homes in the two...
Continue Reading • 1 Nov 2010
Taikoo Shing flat prices exceed 1997 record
A flat in Taikoo Shing in Hong Kong has fetched an average price that is higher than the earlier peak recorded in 1997, making it the city’s first housing estate to reach new record prices.Based on data compiled by Centaline Property Agency, the average transaction price in the estate hit...
Continue Reading • 1 Nov 2010
Copthorne Orchid Hotel to be redeveloped into condo
The Copthorne Orchid Hotel Singapore, located along Dunearn Road, will be closed by end-March next year for the site’s redevelopment into a 150-unit freehold condominium.The condo was previewed on Friday, wherein 60 units were released for the first phase at a price of $2,050 psf on...
Continue Reading • 1 Nov 2010
KepLand to develop two sites in Vietnam
Keppel Land Limited, through its wholly-owned subsidiary Antiaris Ltd., has entered into a joint venture with local property developer Tien Phuoc Company Limited for the development of a 13.5ha waterfront project in Ho Chi Minh City, Vietnam.The gated development, which will comprise 225 villas,...
Continue Reading • 29 Oct 2010
Property developers less upbeat on the market
Property developers are less upbeat of the future, with nearly 34 percent of them expecting a decline in new home prices, according to the latest readings of Real Estate Sentiment Index (RESI).Following the cooling measures announced on August 30, a third of developers polled for the third...
Continue Reading • 29 Oct 2010
Landed plots in Sembawang receive bullish bids
The 14 landed housing plots that were offered in a government land auction in Sembawang attracted strong bidding and bullish offers as property developers renewed their confidence in the landed housing market.Majority of the winning bids for the sites were within the range of $500 psf to $600...
Continue Reading • 29 Oct 2010
Cancellation of deals on the rise in China
An increasing number of Chinese home buyers are forfeiting deposits and defaulting on purchase agreements due to fear that stricter policy setting will cause a sharp decline in property prices, said estate agents.Estimates of the extent of defaults differ widely, with some media reporting that...
Continue Reading • 29 Oct 2010
New lender enters UK mortgage market
The Financial Services Authority (FSA) in the UK has announced that it has approved Precise Mortgages to sell regulated mortgages, providing more home loan choices to homeowners.Ian Lonergan, chief executive of Precise, said the company had been working hard to “deliver a proposition that...
Continue Reading • 29 Oct 2010
CMA Q3 profit up 14%
Capitamalls Asia (CMA), CapitaLand’s largest listed shopping mall developer in Asia, has announced that its net profit for the third quarter rose 14 percent to $68 million, from $59.6 million over the same period last year.The increase in Q3 earnings came despite a 22 percent decline in...
Continue Reading • 29 Oct 2010
Keppel Land named most admired ASEAN enterprise
Keppel Land Limited, a wholly-owned subsidiary of Keppel Corporation, has been named most admired ASEAN enterprise under the Corporate Social Responsibility category at the ASEAN Business Awards 2010.Organised in conjunction with the 16th ASEAN Summit, the award took place in Hanoi, Vietnam on...
Continue Reading • 29 Oct 2010
An iconic landmark that is worth saving
The iconic landmark along Stamford Road will be redeveloped into a new and vibrant retail, residential, hotel and arts precinct after it was sold for approximately $250 million.A new 15-storey mixed-use building will soon rise above the conserved heritage buildings Capitol Theatre, Capitol...
Continue Reading • 29 Oct 2010
CBRE posts strong Q3 results
The world’s largest commercial real estate services firm CB Richard Ellis has reported strong earnings and revenue growth in the third quarter, with net income up 361 percent to US$57.0 million from US$12.4 million over the same period last year.Net income, excluding selected charges,...
Continue Reading • 28 Oct 2010
Japanese envoy's bungalow up for sale
The Japanese government has put up a Good Class Bungalow (GCB) located at No. 18 Astrid Hill for sale.The bungalow, which is the former home of the Japanese envoy to Singapore, is expected to fetch between $20 million and $25 million. This works out to around $1,056 psf to $1,320 psf based on the...
Continue Reading • 28 Oct 2010
Bangkok condo market a hit with Asian buyers
The condominium market in Bangkok has recently attracted strong interest from overseas investors particularly from Asia, according to a recent report released by Bangkok-based property agency Plus Property.Enquiries from foreign buyers, mostly from Singapore and Hong Kong, have increased more...
Continue Reading • 28 Oct 2010
China property prices to remain resilient
Property prices in the mainland China will continue to grow despite a series of tightening measures implemented by the central government, according to a report released by Knight Frank.Knight Frank’s researchers indicated that the property measures would not have a long term effect on the...
Continue Reading • 28 Oct 2010
US mortgages to drop below US$1t mark in 2011
Home lending in the United States will likely to drop below US$1 trillion in 2011 to the lowest level since 1996, according to the mortgage trade group Mortgage Bankers Association (MBA).The MBA said mortgage originations in the US will drop to US$996 billion next year, from US$1.4 trillion...
Continue Reading • 28 Oct 2010
HK luxury home prices surpass their 1997 peak
Luxury home prices in Hong Kong have surpassed their peak during the pre-Asian crisis, frustrating government efforts to dampen the city’s expensive property market.Average prices for homes measuring at least 100 sq m are now 14 percent higher than before the 1997 downturn, said the Hong...
Continue Reading • 28 Oct 2010
LG ranked as top Asian appliances brand
LG Electronics’ refrigerators, washing machines and air conditioners have been chosen as Asia’s top brands, based on a survey of Asia’s Top 1,000 Brands conducted by research firm Taylor Nelson Sofres (TNS) in association with leading Asian media and marketing magazine...
Continue Reading • 28 Oct 2010
Stellar Q3 results for Starhill Global REIT
Starhill Global Real Estate Investment Trust (REIT) has announced that its distributable income for Q3 rose 5.8 percent to $19.4 million, up from $18.4 million in 2009, while Q3 distribution per unit (DPU) climbed 5 percent to one cent, from 0.95 cent over the same period last year.The latest...
Continue Reading • 27 Oct 2010