UK mortgage arrears improving
Figures from the Council of Mortgage Lenders showed that the number of repossessions by first-charge mortgage lenders declined in Q2 this year, with 9,400 repossessions recorded in Q2 compared to 9,800 in Q1 and 11,800 in Q2 last year.While the situation in the UK mortgage market seems to be...
Continue Reading • 19 Aug 2010
Mortgage closing costs in the US rising
Consumers in the US who are taking advantage of low interest rates in the mortgage market may find themselves paying more in the end.The costs of mortgage closing in the US has increased dramatically this year, with Texas having the second-highest average home financing fees in the country,...
Continue Reading • 18 Aug 2010
DTZ to focus on key emerging markets
DTZ Holdings, a London-listed real estate services firm is aiming to be profitable at the operating level for the current fiscal year, though uncertainties in the eurozone are a main concern, said a top executive.DTZ plans to focus on key emerging markets like India and China, as Asia leads the...
Continue Reading • 18 Aug 2010
Katong apartments up for collective sale again
Robin Court, with an adjoining bungalow located at Robin Drive, and Amber Glades, situated off Amber Road, are being put up for collective sale for the third time.Amber Glades was first launched for sale in October 2007, with a selling price of $145 million or $1,345 psf ppr, including a...
Continue Reading • 18 Aug 2010
Proximity on Queens 60% sold
The Proximity on Queens development has seen a huge sales success with nearly 60 percent or 92 apartments sold over the first two weekends of its launch, proving that there is a strong demand for larger and more spacious apartments among Melbourne buyers.Launched by National Project Marketing...
Continue Reading • 18 Aug 2010
CapitaLand sells $350m worth of 10-year bonds
CapitaLand has sold $350 million worth of 10-year, Singapore-dollar bonds at a surprisingly low price than was expected, through a debt issue that was oversubscribed by investors.The property firm had planned to sell only $150 million worth of the unsecured bonds but agreed to raise the size of...
Continue Reading • 18 Aug 2010
Singapore remains cheaper place to build in than HK, London
A recent report that said Singapore is the costliest Asian nation to build in has been refuted by the director of Davis Langdon & Seah Singapore (DLS), who said that Singapore is still a less expensive place to build in compared to Hong Kong and London.According to data from DLS, Singapore...
Continue Reading • 18 Aug 2010
13 freehold shophouses up for joint-collective sale
Jones Lang LaSalle (JLL) has put up a row of 13 freehold shophouses located along Owen Road up for joint-collective sale by public tender.Zoned for “Residential with Commercial at 1st Storey”, the 15,338-sq-ft site has a gross plot ratio of up to 3.0 and can reach five storeys. It can...
Continue Reading • 18 Aug 2010
Elevation Apartments stand tall over Perth's skyline
Construction of the tallest residential apartment tower in Perth has just been completed and investors are now rushing to buy units before it sells out.Developed by QPS Developments Pty Ltd, Elevation Apartments features 138 luxurious apartments spanning across 29 levels.Designed for the well...
Continue Reading • 17 Aug 2010
Prime Phuket properties among the world's cheapest
Prices of prime properties in Phuket, Thailand are one of the cheapest of the world's most popular international homes market, according to a new report.According to the International Residential Report published by Chesterton Humberts, new home prices in Thailand were US$4,460 psm, while in...
Continue Reading • 17 Aug 2010
CDLHT eyes S$550m in acquisitions
CDL Hospitality Trusts (CDLHT) is looking for possible acquisitions in Japan, Vietnam and India with a potential fund of almost S$550 million ($403.8 million), said Vincent Yeo, CEO of CDLHT.The company, which owns five hotels in Singapore, announced that hotel rates in the country could increase...
Continue Reading • 17 Aug 2010
HK government measures weaken shares of Singapore property firms
Shares of several real estate companies in Singapore slumped yesterday on the back of growing concerns that authorities in the country would also be imposing measures similar to the Hong Kong government’s move to cool down its property prices.The Hong Kong government recently implemented a...
Continue Reading • 17 Aug 2010
MND introduces Estate Agents Bill
The Estate Agents Bill was introduced by the Ministry of National Development (MND) for a First Reading at Parliament yesterday. The new bill seeks to establish the Council for Estate Agencies (CEA) as a new statutory board to regulate the real estate agency industry.The bill will be applicable...
Continue Reading • 17 Aug 2010
US tightens mortgage lending
The US Federal Reserve announced a new rule yesterday, aimed at banning premium payments, which allowed mortgage brokers and lenders to collect more gains by charging mortgage borrowers with interest rates higher than the benchmark.Reaction to the new rule was muted, but some said the ban should...
Continue Reading • 17 Aug 2010
MGPA to develop malls in smaller Chinese cities
With international retailers planning to venture into China’s interior, and with rapid growth in its property market, property fund manager MGPA intends to develop malls in smaller cities in China.The property fund manager is also seeking to purchase offices in Japan, as values have...
Continue Reading • 17 Aug 2010
Mapletree to launch Japan property fund
Mapletree Investments, a wholly-owned property firm of Temasek Holdings, plans to launch an around 80 billion yen ($928 million) property fund in Japan this year in a bid to expand its presence in the country’s property market.With an equity portion of around 30 billion yen, the new fund...
Continue Reading • 17 Aug 2010
Private home sales rebounded in July
Property developers sold 1,544 private residential units in July, a sharp increase from 1,078 in May and 847 in June.“Consumers are obviously coming back in force to buy properties that are priced right,” said Mr. Mohamed Ismail, chief executive of PropNex, citing that the three...
Continue Reading • 17 Aug 2010
HK tightens mortgage rules to avert bubble
The Hong Kong government is expected to tighten mortgage rules as the government imposes intensified measures to suppress the so-called “rare” increase in housing prices.Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA), said that down payment for apartments that...
Continue Reading • 16 Aug 2010
HK intends to lift supply of property
Hong Kong Financial Secretary John Tsang said the government is planning to lift the support of property in the market in an attempt to cool down housing prices.The real estate market faces overheating concerns with housing prices rising by 10 percent since January this year, following a...
Continue Reading • 16 Aug 2010
Ho Bee's net profit falls 29% in Q2
Ho Bee Investment has announced that its net profit in the second quarter fell 29 percent to $112.3 million from a year ago.Revenue also shrank 68 percent to $235.7 million, driven by lower contributions from development properties.Revenue from property development dropped 69 percent in Q2 to...
Continue Reading • 16 Aug 2010