Two residential sites up for sale
HDB has released two residential sites located at Upper Serangoon and Woodlands Avenue 1 / Woodgrove Avenue for sale.The two sites, which will be launched for sale under the Confirmed List of the H2 2010 GLS Programme, can potentially yield 805 dwelling units, offering home buyers more housing...
Continue Reading • 22 Sept 2010
Decline in Japanese land prices slows
The decline in Japanese land prices have slowed down for the first time since 2007, as the country emerges from recession and credit conditions ease.The nationwide average price tumbled 3.7 percent in the 12 months ended June 30, compared to the 4.4 percent decline in 2009, according to a report...
Continue Reading • 22 Sept 2010
More high-end property launches in 2011
Several developers said they believe that the recent set of government measures aimed at dampening the demand for HDB flats and private homes will mostly affect mass market homebuyers.They are also hoping that the new launches, which are mainly for homes in the mid-tier, high-end and luxury...
Continue Reading • 22 Sept 2010
Slowdown in BofA mortgage modifications
Bank of America (BofA) has announced that the pace of its government-backed mortgage modifications programme to ease out home foreclosures continued to decline last month. In August, the bank completed 3,600 permanent mortgage modifications under the US government’s Home Affordable...
Continue Reading • 22 Sept 2010
Soilbuild announces S$418m privatisation offer
Mainboard-listed property developer Soilbuild Group Holdings has announced that it has received a privatisation offer from Dolphin Acquisitions Ltd valued at around S$418 million, or about $0.80 per share.The exit offer will also include the acquisition of all shares held by managing director Lim...
Continue Reading • 22 Sept 2010
CBRE wins top accolades
CB Richard Ellis (CBRE) has been named the world’s leading real estate advisor and consultancy firm in the 2010 Euromoney Real Estate Awards, making it the fourth time CBRE has won the title since Euromoney started the awards in 2005.CBRE, the world’s largest commercial real estate...
Continue Reading • 22 Sept 2010
UK mortgage approvals drop to 16-month low
The number of mortgage approvals for the UK’s six largest banks have dropped to a 16-month low since April 2009, as the UK housing market weakened.Mortgage loan approvals slumped to 45,000 last month from 47,000 in the previous month, according to the Bank of England (BOE). Home loan value...
Continue Reading • 21 Sept 2010
China to impose property tax next year
China may implement a property tax starting early next year, according to a report released by The China Business News.The rumours on a new property tax have heavily affected the domestic stock market in recent months.“There are several proposals, but it's still unclear which one will be...
Continue Reading • 21 Sept 2010
Property prices in China too high
The majority of mainland Chinese, or about 72.2 percent said that real estate prices are “too high to accept” despite government measures aimed at cooling the property sector, according to a survey from the central bank.The percentage increased by seven percentage points from 2009,...
Continue Reading • 21 Sept 2010
Asian financial centres in the limelight
While financial centres in Asia are earning prominence, those in the Middle East are dropping, according to the newest Global Financial Centres Index released by London think-tank Z/Yen.Singapore remained at the 4th spot ahead of Tokyo at fifth place. Occupying the top three spots are London, New...
Continue Reading • 21 Sept 2010
UOB to acquire HSBC's banknotes business
United Overseas Bank (UOB) has announced that it will purchase the banknotes business of HSBC for approximately US$15 million.UOB added that it will acquire the physical assets of HSBC’s banknotes business in Singapore, Japan, Taiwan, Beijing and Hong Kong.HSBC, on the other hand, will...
Continue Reading • 21 Sept 2010
Sun Hung Kai posts 12% rise in underlying profit
The world’s largest property developer by market value, Sun Hung Kai Properties Ltd, has announced that its full-year underlying profit surged 12 percent due to an increase in rental income from its shopping malls and offices.The company’s net income excluding property revaluations...
Continue Reading • 21 Sept 2010
JLL sells Naung Court for $28m
Global real estate services firm Jones Lang LaSalle has announced that it successfully sold Naung Court at Jalan Naung to Orion-Two Residential Ltd. at around $28 million, or about $662 psf ppr if DC is payable.To date, only one unit of the 20-unit development has yet to sign the Collective Sale...
Continue Reading • 21 Sept 2010
Which is better: leasehold or freehold?
A red-hot property market is characterised by the way 99-year homes are being sold at skyrocketing prices compared to freehold units.Most homebuyers previously disregarded leasehold homes, believing that freehold units were better in terms of long-term value.While a freehold title gives the...
Continue Reading • 21 Sept 2010
Lum Chang wins $119.4m EC contract
Building and construction company Lum Chang Holdings has announced that its subsidiary, Lum Chang Building Contractors (LCBC), has won a $119.4 million contract for the design, construction and maintenance of the Esparina Residences executive condo (EC) project.Construction work on the 18-storey...
Continue Reading • 20 Sept 2010
Property hunters becoming more guarded
While the government’s recent cooling measures are expected to affect the HDB resale and entry-level private condo markets, they could also be causing homebuyers in the high-end segment to be more guarded, judging by buyers response to the launch of the Twin Peaks project. Project...
Continue Reading • 20 Sept 2010
Sing Holdings acquires two properties
Singapore-listed Sing Holdings has signed a deal to acquire 1 Robin Drive and Robin Court for approximately $77.33 million, or about $1,363 psf of potential gross floor area.The company said no development charge is expected for the acquisition.The acquisition of Robin Court involves an en bloc...
Continue Reading • 20 Sept 2010
Record-price deal for KL site not indicative of current trends
While the recent land deal in the Bukit Bintang shopping district in Kuala Lumpur is so far the highest in terms of price fetched, it does not represent the current land market in the city, said some valuers.The 29,127 sq ft parcel was purchased by Urusharta Cemerlang (KL) Sdn Bhd for a premium...
Continue Reading • 20 Sept 2010
HSBC slashes fixed-mortgage rates for high-end clients
The New Zealand branch of HSBC is slashing its two-, three- and five-year fixed-mortgage interest rates for its high-end customers and said it is the lowest interest rates available from a bank in the country.The two-year HSBC Premier rate has been cut by 25 basis point to 6.49 percent from the...
Continue Reading • 20 Sept 2010
Sim Lian tops bid for Hougang site
Property developer Sim Lian Land Ltd has offered the highest bid for a land parcel at Hougang Avenue 7 in a public tender that closed on Friday.HDB said the 99-year leasehold site at Hougang Avenue 7 has drawn a total of six bids, with Sim Lian Land offering the highest bid of $160 million. The...
Continue Reading • 20 Sept 2010