Peter Ow to leave Knight Frank
Residential property consultant Peter Ow is set to leave Knight Frank at the end of the year.Mr. Ow hopes to have a long break before he decides on what to do next, he told The Business Times in an interview. “I'd like to take things easier and spend more time holidaying and...
Continue Reading • 2 Sept 2010
Increase in DC rates, particularly in Residential Use Groups
The revision of the development charge rates (DC) rates for the period of September 1 2010 to February 2011 has showed that landed and non-landed residential use has climbed an average of 13 percent.The DC rate revision also factored the effect of the Circle Line, especially on Braddell, Potong...
Continue Reading • 1 Sept 2010
Keppel Land appoints Mrs. Oon Kum Loon to the board
Keppel Land Limited has appointed Mrs. Oon Kum Loon as the Non-independent and Non-executive Director on its board starting today.The 59-year-old Mrs. Oon has been an Independent and Non-executive Director at Keppel Corporation since 2004. She is also the chairperson of the Board Risk Committee...
Continue Reading • 1 Sept 2010
Government measures target sustainable property market
The latest set of government measures to cool the property market will not affect genuine buyers and are intended to develop a “sustainable” market, said Mrs. Lim Hwee Hua, the Second Minister for Finance and Transport.“What will be sustainable is property purchases or price...
Continue Reading • 1 Sept 2010
Jitters amongst developers after new mortgage measures
Several property developers in Singapore, including Southeast Asia’s largest developer, CapitaLand Ltd. and the country’s second-largest homebuilder, City Developments Ltd., recorded declines yesterday amidst concerns that the government’s latest move to curb speculation in the...
Continue Reading • 1 Sept 2010
Sale of Hong Kong site beats estimates
A luxury residential site in Hong Kong has been sold at an auction for 26 percent more than the estimates of analysts, a sign that developers are confident that home prices will withstand an increase in supply and tighter mortgage rules.The land located in the Kowloon Tong district was acquired...
Continue Reading • 1 Sept 2010
URA releases four residential sites for sale
The URA has released four residential sites located at Tanah Merah Kechil Road, Petir Road, West Coast Link/West Coast Crescent and Alexandra Road for sale.The land parcel located at Petir Road has been launched for sale under the Confirmed List, while the other three sites have been made...
Continue Reading • 1 Sept 2010
HDB releases Pasir Ris site
HDB has released a state land parcel located at the junction of Elias Road and Pasir Ris Drive 3 for application under the Reserve List of the GLS Programme.The 99-year leasehold site, which can be developed into a condominium development or strata landed housing, has a land area of 23,351 sq...
Continue Reading • 1 Sept 2010
SLA releases 33 B&W bungalows for rent
A total of 33 black and white bungalows situated in the Mount Pleasant area have been put up for rent by the Singapore Land Authority (SLA), with sizes ranging from 1,500 sq m to 18,000 sq m, and a gross floor area of between 210 sq m and 1,140 sq m.Approved for residential use, these colonial...
Continue Reading • 1 Sept 2010
New regulation on construction work
The National Environment Agency (NEA) has announced that all new construction sites within 150m of residential premises and noise-sensitive developments that have received permits to start construction work from September 1, 2010 are not allowed to perform construction activities from 10pm on...
Continue Reading • 31 Aug 2010
Rents in Hong Kong set to rise
Residential rents in Hong Kong are expected to rise in the coming months due to the government’s cooling measures to curb property prices, according to the South China Morning Post.After rents had already increased by 8.6 percent this year, property consultants predicted that it could...
Continue Reading • 31 Aug 2010
Roxy-Pacific subsidiary acquires Toh Tuck site
Property developer Roxy-Pacific Holdings has announced that its associated firm has acquired the freehold Toh Tuck Apartment site for $33.9 million.Mequity, which is 45 percent owned by Roxy Land – a wholly-owned unit of Roxy-Pacific – will finance the acquisition through internal...
Continue Reading • 31 Aug 2010
UIC pays $160m for redevelopment of UIC Building
United Industrial Corp (UIC) has announced that it paid a $160.1 million development charge to URA for the redevelopment of UIC Building.UIC said the property, which is located at 5 Shenton Way, will be redeveloped on a 40 percent commercial and 60 percent residential scheme, with a total gross...
Continue Reading • 31 Aug 2010
Total market cap of Asian REITs up 25 percent
Asian REITs saw a 24.7 percent year-on-year increase in total market capitalisation to US$69.0 billion in the first half of the year, according to a report by CB Richard Ellis (CBRE).The first half of this year also saw the launch of six new REITS, a dynamic period for REIT IPOs in Asia, said...
Continue Reading • 31 Aug 2010
CDL, Wing Tai's shares fall after government's moves
Property developers City Developments and Wing Tai Holdings have been affected by the government’s latest property price cooling measures, after their shares fell more that 4 percent yesterday.Both companies have a lot of exposure to the property market’s mass residential...
Continue Reading • 31 Aug 2010
New measures have little impact on loan growth
The government’s new set of measures to curb property prices could hit banks in Singapore due to extra checks needed for mortgage applicants. However, the impact on mortgage growth is likely to be small, according to a check done by The Business Times.Helen Neo, Maybank Singapore’s...
Continue Reading • 31 Aug 2010
Pre-emptive measures a tad later than expected: JLL
The latest set of anti-speculative measures released by the Ministry of National Development through the URA and HDB are aimed at eliminating potential speculation instead of affecting first time homebuyers and genuine home occupiers, said Jones Lang LaSalle (JLL).For instance, the increased...
Continue Reading • 31 Aug 2010
Further measures introduced to cool property market
To guarantee more sustainable growth in the property market, the Ministry of National Development (MND) has announced three important measures, which will come into effect immediately.These measures include increasing the holding period for the imposition of Seller’s Stamp Duty (SSD) from...
Continue Reading • 30 Aug 2010
Henderson posts declines in underlying profit
Hong Kong property developer Henderson Land Development Co. has recorded a larger-than-expected decline in first-half underlying profit after it took a HK$734 million charge for the unsuccessful sales of 20 luxury apartments.Henderson said its profit excluding revaluation gains slid 37 percent to...
Continue Reading • 30 Aug 2010
Singapore sees fastest growth in private home prices
Prices of private properties in Singapore jumped 34 percent, the fastest in the world for this year to June 30, and the country’s highest recorded year-on-year growth since 1995, according to a global survey of housing prices by the Global Property Guide.Also included in the top 10 are Hong...
Continue Reading • 30 Aug 2010