Fragrance Group subsidiary purchases Geylang Road site
Mainboard-listed property developer Fragrance Group has announced that its wholly-owned subsidiary, Fragrance Realty Ltd, has inked a deal to purchase a land parcel at Geylang Road for about $31.55 million.The land site has a total land area of approximately 1,681.2 sq m and can yield a maximum...
Continue Reading • 20 Sept 2010
Chinese assets mostly property, according to survey
Property makes up 73.4 percent of assets held by urban Chinese, according to a recent survey of 5,200 households in 24 key Chinese cities.As of end 2009, urban Chinese had average assets of nearly 406,536 yuan and an average income of about 50,997 yuan. About 85 percent of the respondents also...
Continue Reading • 20 Sept 2010
Bangkok residential property market splits in two
Bangkok’s residential real estate market has split into two categories – a one-bedroom market mostly in the midtown area and a larger downtown market, according to a recent report by CBRE.Both markets have fared very differently, said the report.The larger market with prices at more...
Continue Reading • 20 Sept 2010
US foreclosures hit all-time high in August
The number of Americans suffering from home foreclosures hit an all-time high in August, according to a report released by RealtyTrac.About 95,364 properties were repossessed by banks in August, up 25 percent over the same period last year and 2 percent from last May’s record. The number of...
Continue Reading • 17 Sept 2010
APREA launches real estate report on Asian pension funds
The Asia Pacific Real Estate Association (APREA), a non-profit industry association promoting and representing the real estate sector on a regional basis, has announced that it launched a major real estate report on the dynamic and increasingly important area of real estate in Asian pension...
Continue Reading • 17 Sept 2010
Winners of APREA Best Practices Awards 2010 announced
CFS Retail Property Trust and Axis Real Estate Investment Trust have won the inaugural APREA Best Practices Awards 2010 in the Mature Markets category and Emerging Markets category, respectively.The APREA Best Practices Awards 2010 are open to all real estate firms and trusts listed on a regional...
Continue Reading • 17 Sept 2010
Keppel Land acquires waterfront site in China
Keppel Land Ltd., the property arm of Keppel Corp, has purchased an additional 66 hectares of land parcel in Zhongshan, China, paving the way to develop its first 86-hectare waterfront residential cum marina project in China.The company previously announced its interest to develop premium...
Continue Reading • 17 Sept 2010
New approach promises more flexibility in landed homes design
A pilot project of modified guidelines aimed at allowing more creative designs for landed homes is being conducted by the URA.The URA will apply the guidelines on nine landed housing plots that will be auctioned in October under the Phase 3 of Sembawang Greenvale.The guidelines eliminate some of...
Continue Reading • 17 Sept 2010
URA releases two residential sites for sale
The URA has released two residential sites located at Stirling Road and Sembawang Greenvale for sale.The site located at Stirling Road (Parcel B) site is launched for application for sale under the Reserve List of H2 2010 GLS Programme, while Sembawang Greenvale (Phase 3) is made available for...
Continue Reading • 17 Sept 2010
Home sales fall after cooling measures
Several analysts have warned investors to exercise caution when dealing with shares of companies that are highly exposed in the residential market, given the expected decline in home sales this September due to the impact of the cooling measures introduced by the government at end-August.However,...
Continue Reading • 17 Sept 2010
PRs not only factor affecting flat demand
The increasing number of foreigners and permanent residents is not the only factor driving HDB flat demand, said National Development Minister Mah Bow Tan yesterday.He stressed that the “sentiment-driven nature of the market” and the broader economic forces in the country contribute...
Continue Reading • 16 Sept 2010
Parliament passes Estate Agents Bill
The Parliament has passed the Estate Agents Bill, which calls for the creation of a new statutory board, the Council for Estate Agents (CEA), to oversee the real estate industry.National Development Minister Mah Bow Tan said the new board will start operations on October 22.Starting 1 January...
Continue Reading • 16 Sept 2010
Property bubble may form in Singapore market
Recent measures aimed at cooling speculation were intended to prevent a risk of property bubble formation that the Singapore government believe may emerge in the market.National Development Minister Mah Bow Tan said the property market has become “a little exuberant of late”. The...
Continue Reading • 16 Sept 2010
New property rules aim to help first-timers
National Development Minister Mah Bow Tan emphasized that the new property measures are aimed to help first-time homebuyers get “first crack” at the housing market.The Minister noted that while the cooling measures may cause disadvantage or inconvenience to some homeowners, the...
Continue Reading • 16 Sept 2010
Increasing prices before property cooling measures
Prior to MND’s implementation of the latest property measures in August 30, the URA saw the highest percentage of private homes sold in the $1,000psf or more level. Developers had sold 1,248 units in August, down 19.2 percent from 1,544 units sold in July. About 88.2 percent of the total...
Continue Reading • 16 Sept 2010
Australia's mortgage rates to hit 9% in 2013
Mortgage rates in Australia will increase to more than nine percent over the next years, according to a leading property expert.Frank Gelber, chief economist at BIS Shrapnel, said that strong recovery of Australia from its economic downturn will trigger the home loan interest rates to...
Continue Reading • 16 Sept 2010
London properties lure Asian investors
Asians have invested £761 million or over US$1 billion in newly constructed apartments in central London, up from about £250 million a year ago, said real estate firm Knight Frank.Asian property investors are attracted by several positive factors – slow property prices in...
Continue Reading • 16 Sept 2010
HK's tallest building sees sharp growth in rents
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Continue Reading • 16 Sept 2010
Asia Pacific's property market dominated by Asian buyers
The real estate markets in the Asia Pacific are dominated by Asian buyers, with transaction volumes in the first half of the year increased 40 percent, according to a new research report released by Jones Lang LaSalle (JLL).JLL said property transaction volumes in the Asia Pacific region for the...
Continue Reading • 16 Sept 2010
HK's HOS owners to get loan guarantees
Loan guarantees will be offered by Hong Kong Mortgage Corporation to owners of government-subsidised flats to make it easier to sell or rent their homes on the open market.The state-owned mortgage company will offer loan guarantees of up to HK$3 million to help Home Ownership Scheme (HOS)...
Continue Reading • 15 Sept 2010