US mortgage rates remain low
Both the average 30-year and 15-year fixed-rate mortgage have remained unchanged from a week ago, according to the Freddie Mac Primary Mortgage Survey (PMMS).The average 30-year fixed-rate mortgage remained at 4.37 percent, while average rate of 15-year fixed mortgage remained at a record low of...
Continue Reading • 27 Sept 2010
UK home prices decline
The average price of UK homes dropped from 0.4 percent to 157,600 pounds (US$249,000) compared with the previous week, according to a London-based property researcher. This was the biggest decline since March 2009 and the third consecutive monthly decline in the average home prices.The decline in...
Continue Reading • 27 Sept 2010
Tianjin Eco-City project to fuel greater recognition
Keppel Corporation is expecting “good returns” from its Tianjin Eco-City project, which will have a crucial role in the company’s strategy to broaden its reach in China, said Lee Boon Yang, chairman of the company.“As a listed company, Keppel Corporation is accountable to...
Continue Reading • 27 Sept 2010
Mapletree expands into Vietnam, announces new logistics park
Mapletree Investments Pte Ltd has celebrated the groundbreaking of Mapletree Bac Ninh Logistics Park (MBNLP), its first logistics park in North Vietnam and third logistics development in the country.Situated within Vietnam Singapore Industrial Park (VSIP) Bac Ninh in the Tu Son District, MBNLP...
Continue Reading • 27 Sept 2010
Hor Kew Ltd wins $156m HDB contract
Singapore building and construction group Hor Kew Corporation has announced that its wholly-owned subsidiary, Hor Kew Ltd, has been awarded a $156 million contract by the HDB for building and construction work at Queenstown Planning Area Dawson Contract 1.Construction work is scheduled to start...
Continue Reading • 27 Sept 2010
World's slimmest washing machines coming to town
Courts, the largest retailer of electrical, IT products and furniture, will bring a range of washing machines from Italian brand Candy into Singapore. A forerunner in the industry, Candy has designed the GrandÓ Plus, the world's slimmest washing machine, which includes a tub with 50L...
Continue Reading • 24 Sept 2010
Fears of a rise in Aussie mortgage payments
Financial analysts have predicted a A$90 increase in monthly mortgage payments in Australia when the country’s big banks lift their base interest rates. The increase in mortgage rates could be around 0.45 percentage points when the Reserve Bank of Australia (RBA) raises the cash rate by...
Continue Reading • 24 Sept 2010
Punggol Drive site receives four bids
The public tender for the site located at Punggol Drive / Punggol East closed yesterday with four bids.Qingdao Construction (Singapore) offered the top bid of $136.2 million, which works out to $237 psf, below analysts’ estimates of $250 psf to $290 psf.The second-highest bid came from...
Continue Reading • 24 Sept 2010
UK property market faces downturn
The number of residential units sold in Britain dropped by 4,000 to 77,000 homes in August, according to seasonally-adjusted data from the government, suggesting that confidence in the market remains fragile.So far, the government data indicated that transactions this year are running below...
Continue Reading • 24 Sept 2010
US home sales on the rise
According to a new report, existing-home sales in the US surged in August after a big correction in July.The National Association of Realtors (NAR) in the US said sales of existing homes jumped 7.6 percent to a seasonally-adjusted annual rate of 4.13 million in August from an upwardly revised...
Continue Reading • 24 Sept 2010
Prime residential rents up in Q3
Singapore’s prime residential rents have been boosted by new supply during the third quarter, with average prime non-landed residential rentals up 1.1 percent quarter-on-quarter to $4.65 psf a month, based on preliminary estimates released by Jones Lang LaSalle (JLL).The slight increase in...
Continue Reading • 24 Sept 2010
China's soaring home prices may delay urbanisation efforts
Skyrocketing property prices in China may delay the process of urbanisation and lower the competitiveness of the country, said Li Daokui, a member of the monetary policy committee of China's central bank.Mr. Li noted that potential homebuyers could not afford to acquire homes in first-tier cities...
Continue Reading • 24 Sept 2010
New measures affected Q3 home sales
Residential market activity during the third quarter of the year moved at a steady pace until September when the government announced its latest round of measures aimed at cooling the property market, said CB Richard Ellis (CBRE).Sales activity slowed down and market sentiment was dampened as...
Continue Reading • 24 Sept 2010
Changes to property deposit in Malaysia draws mixed reactions
The possible increase in down payment to 20 percent from the current 10 percent for third and succeeding home purchases in Malaysia has drawn mixed reactions from various professionals.Datuk Michael Yam, president of Real Estate and Housing Developers’ Association (Rehda), said the capping...
Continue Reading • 23 Sept 2010
China Resources Land to purchase assets from parent company
China Resources Land, a property unit of China Resources Co Ltd., has announced that it has agreed to purchase three mainland property projects from its parent company for approximately HK$7.9 billion.The property developer said in a statement filed with the Hong Kong Stock Exchange that it...
Continue Reading • 23 Sept 2010
Asian property buyers dominate Queensland market
Property buyers from Singapore, China and South Korea have become Queensland's biggest spenders this year after British investors, who have dominated the state’s property market for eight years, but declined last year.Singaporean investors acquired A$213 million worth of commercial,...
Continue Reading • 23 Sept 2010
Singapore and China top nominees for MIPIM Asia Awards
Singapore and China top the list of nominees for the 4th MIPIM Asia Awards, which recognises real estate projects in the Asia-Pacific region annually. Out of the 24 nominees, 17 went to projects from Singapore and China.The international jury headed by Dr. Robert Lie, managing director of Real...
Continue Reading • 23 Sept 2010
Private home prices to see minor dip
Prices of private homes are likely to see a slight decline due to the government’s recent cooling measures, said Liew Mun Leong, chief executive and president of CapitaLand.Private home prices were on track to dip “a little” as a result of the new measures aimed at dampening...
Continue Reading • 23 Sept 2010
Redas still confident on property market
While property developers are generally coy on the effect of the recent measures aimed at cooling the real estate market, some are optimistic in the long-term prospects of the property market.Simon Cheong, president of Real Estate Developers' Association of Singapore (Redas), said the recent...
Continue Reading • 23 Sept 2010
Condo site in Hougang awarded to Sim Lian
A land parcel at Hougang Avenue 7 has been awarded to property developer Sim Lian Land Ltd after it offered the highest bid in a public tender that closed on September 17.The firm offered $160 million, beating other developers during a public tender for the site conducted by HDB.The 99-year...
Continue Reading • 22 Sept 2010