Mortgages payments to earnings ratio in the UK declines
The cost of repaying a mortgage as a percentage of income hit its lowest level in 25 years, according to a report by Halifax.The report showed that in June 2010, the average person was using 28 percent of their disposable income to pay back their mortgages, substantially lower than that in June...
Continue Reading • 23 Aug 2010
Millennium in Bangkok re-launched
Property developer Leadon Assets Ltd has re-launched the THB10-billion (US$317.1 million) Millennium Residence @ Sukhumvit complex in Bangkok, according to sources.The Millennium Residence, which sits on a 12-rai site and comprises four towers, is located on Sukhumvit Soi 20 in Bangkok. It is a...
Continue Reading • 23 Aug 2010
Emerging markets to boost domestic demand
Risks to the growth of emerging economies will depend on fiscal adjustment in the developed world, said Philip Poole, global head of macro and investment strategy at HSBC.Though the sovereign debt crisis in Europe is no longer as pressing as before, high levels of debt and the...
Continue Reading • 23 Aug 2010
Asian growth story receives little credit
Investors are not giving sufficient credit to the Asian growth story as the region merits a higher market premium, according to Andrew Gates, senior international economist and executive director of UBS Investment Bank.Mr. Gates, who was speaking at the inaugural INVESTFair 2010 conference...
Continue Reading • 23 Aug 2010
AIMS AMP to acquire property for $161m
AIMS AMP Capital Industrial Reit, formerly MacarthurCook Industrial Reit, has announced plans to acquire a property in Singapore for about $161 million (US$118.8 million).The company said the property has an initial net income of approximately 7.7 percent, and it plans to finance the purchase...
Continue Reading • 23 Aug 2010
GuocoLand's Q4 profit swings
Property developer GuocoLand has announced that its net profit in the fourth quarter that ended 30 June 2010 increased to RM11.48 million, recovering from a loss of RM72 million in the previous year.The increase in Q4 profit was attributed to the higher contribution from the company’s...
Continue Reading • 23 Aug 2010
Nomura wary on Genting Singapore
While many industry observers have changed their approach on Genting Singapore after it hit jackpot in its Q2 earnings, Nomura Securities has stayed cautious and is sticking to its guns on the IR operator.Now that more data on the casino sector has been made available, the analyst company has...
Continue Reading • 23 Aug 2010
New line set to boost property prices
Property agents say the opening of MRT stations along Phase 2 of the Downtown Line, connecting Bukit Panjang to Rochor will lead to a surge in property prices, particularly in the outskirts of Singapore.HBD flats in Bukit Panjang have seen at least a 10 percent increase in their cash-over...
Continue Reading • 23 Aug 2010
Units at The Parc hit $1,085 psf
Despite a recent increase in average prices, homebuyers still prefer suburban condominium projects located within the proximity of schools and other amenities like shopping centres, eateries and public transportation, with newly completed developments commanding a premium.For instance, four units...
Continue Reading • 23 Aug 2010
YTL's revenue more than RM16b
Conglomerate YTL Corp Bhd has announced that its net profit for the last quarter jumped to RM118 million from RM47 million in the earlier quarter, which was driven by the consolidation of a power plant business in Singapore.The company’s revenue also climbed from RM3.5 billion in the...
Continue Reading • 20 Aug 2010
Shanghai suspends home decoration loans
Loans for home decorations have been temporarily suspended in Shanghai, as the city implemented a housing fund programme to clamp down on unscrupulous practices of some estate agencies, according to the Wenhui Daily, citing sources from the Shanghai Provident Management Centre.According to the...
Continue Reading • 20 Aug 2010
New York property booming
Despite the stagnant US housing sector, the residential property market in New York is booming.With property prices and mortgage rates at historic lows, affluent New York residents are cashing in on the economic condition to purchase units at bargain values. Real estate agencies are reporting an...
Continue Reading • 20 Aug 2010
More Malaysians eyeing London properties
The number of Malaysian investors acquiring properties in London has increased rapidly since the end of 2009, said an official from Henry Butcher Real Estate Sdn Bhd.The increase is due to the weakened pound sterling and the rising property prices in Singapore and Australia, two of the most...
Continue Reading • 20 Aug 2010
UOB sets up rich-friendly branch at MBS
United Overseas Bank (UOB) has launched its new stylish branch for rich clients at Marina Bay Sands (MBS), as part of the company’s plans to expand its business to cater to the increasing number of wealthy people in Asia.UOB’s MBS branch is aimed at customers with $1 million or more...
Continue Reading • 20 Aug 2010
Ascott REIT to acquire 28 properties
Ascott Residence Trust will acquire 28 European and Asian properties worth S$969.6 million from its parent company, The Ascott Ltd, which is a wholly-owned unit of CapitaLand, Southeast Asia’s largest property developer.The company said it would fund the purchase of 26 European and 2 Asian...
Continue Reading • 20 Aug 2010
Recommendation made for elderly-friendly estates
One of the key points of a focus group report on “Quality of Life”, which was submitted to the MND and URA is to design Singapore housing estates such that it will facilitate “ageing-in-place”, where active-ageing and growing old in a familiar environment are encouraged...
Continue Reading • 20 Aug 2010
CommercialGuru.com.sg officially launches
Singapore’s leading property site PropertyGuru.com.sg has launched CommercialGuru.com.sg, a comprehensive web portal dedicated to commercial properties in Singapore and the region, catering to the increasing demand for office, retail, and industrial space.CommercialGuru.com.sg helps...
Continue Reading • 19 Aug 2010
Selegie Centre up for public tender
Selegie Centre, a freehold mixed development site at the junction of Selegie Road and Mackenzie Road, has been launched for sale through a public tender, with a price tag of between $110 million to $125 million.Residents and shops owners of the 25-year-old Selegie Centre, which is located in...
Continue Reading • 19 Aug 2010
Landmark site at City Hall receives 14 bids
A commercial landmark site at City Hall, which includes Stamford House, Capitol Building and Capitol Theatre, received a total of 14 bids from ten developers and consortiums.Three separate bids were offered by developer Far East Organization, while two bids were handed in each by Wing Tai...
Continue Reading • 19 Aug 2010
Newton View put up for collective sale
Owners of freehold residential development Newton View have put the estate up for en bloc sale, with an asking price of between $153 million and 155 million, or $1,460 psf ppr to $1,479 psf ppr.Newton View is located at 26 Newton Road and has a total land area of 37,577 sq ft with a permissible...
Continue Reading • 19 Aug 2010