Lull in property sales this month
The Singapore property market is likely to experience a lull in sales during this year’s Hungry Ghost Festival, with the lack of major new launches.During the festival, which runs from August 10 to September 7, superstitious people avoid major commitments such as purchasing a property.This...
Continue Reading • 12 Aug 2010
LaSalle Investment Management completes three deals
LaSalle Investment Management, a leading global real estate investment manager, has announced that it sealed three transactions in the Asia Pacific region worth US$345 million in early August.The transactions include the acquisition of Japan’s Nasu Outlet Mall by LaSalle Asian Opportunity...
Continue Reading • 12 Aug 2010
UK to face more mortgage fraud
Mortgage fraud in the UK looks set to increase, according to a financial expert, but the extent of the issue is not fully clear.Neil Munroe, a spokesperson for information solution group Equifax, made his comments to the publication of the KPMG Fraud Barometer, which showed that mortgage...
Continue Reading • 11 Aug 2010
IKEA Catalogue 2011 coming to Singapore households
Home furnishing specialist IKEA is launching the 60th edition of the IKEA Catalogue 2011, which presents 376 pages of ideas, inspiration and solutions to make life at home easier to manage.Starting August 12, every Singaporean household will receive a copy of the catalogue in their mailbox for...
Continue Reading • 11 Aug 2010
Housing prices in Malaysia to increase in H2
Property developers in Malaysia expect housing prices to increase by another 20 percent in the second half, as prices of raw materials rise and supply tightens in major areas.In particular, landed property prices are expected to increase in Penang and the Klang Valley, where recent launches set...
Continue Reading • 11 Aug 2010
Singapore could face recession risk in H2
A possible annualized contraction is likely to hit the Singapore economy in the second half of this year due to the global economic downturn, but the country remains to course on becoming one of the fastest growing countries in the world.The Singapore government remains firm on its 2010 growth...
Continue Reading • 11 Aug 2010
KSH reports 56% rise in net profit
Construction and property management group KSH Holdings Limited has posted a 56-percent rise in net profit to S$4.3 million for the first quarter that ended 30 June 2010.Revenue also increased 21 percent to S$72.4 million from S$60.0 million.The company’s core construction business remains...
Continue Reading • 11 Aug 2010
Phase 1 of The Greenwich snapped up
All 174 units in phase 1 of The Greenwich project has been sold in a private preview that began on August 2, making up 55 percent of the 319-unit development, or seven out of 12 towers.The units released comprise one- to three-bedroom apartments, with prices ranging from $657,000 to $850,000 for...
Continue Reading • 11 Aug 2010
Paya Lebar site up for en bloc sale
Charlesville, a freehold residential development at Paya Lebar, has been released for collective sale through a public tender.The sale of the five-storey, 18-unit development at Upper Paya Lebar Road is being handled by Huttons. At least 16 of its 18 owners have already agreed to the sale, with...
Continue Reading • 11 Aug 2010
Naung Court up for collective sale
Jones Lang LaSalle has launched the 4-storey, 20-unit Naung Court site for collective sale by tender.Located at Jalan Naung, the 32,689-sq-ft freehold site is zoned for residential use. It has a gross plot ratio of 1.4 and a maximum gross floor area of 45,764 sq ft. This can accommodate a...
Continue Reading • 11 Aug 2010
Housing finance in Australia down in June
Housing finance commitments for owner-occupied homes in Australia dropped a seasonally-adjusted 3.9 percent in June to A$20.71 billion, surpassing analysts’ forecast of a 2 percent decline, according to the Australian Bureau of Statistics.A survey conducted by Reuters predicted the number...
Continue Reading • 10 Aug 2010
China property prices will fall, says developer
Property prices in major cities in China will decline later this year, according to the country’s top listed developer. The decline is attributed to the government’s tightening measures to curb property prices and the expected surge of state land supply for public housing.Wang Shi,...
Continue Reading • 10 Aug 2010
Property bubble in HK, warns HSBC
A property bubble could emerge in Hong Kong if home prices continue to increase, said Peter Wong, chief executive of HSBC for the Asia Pacific region, who spoke to Bloomberg.Home prices have soared 42 percent since the start of 2009, while the government is attempting to cool things down amid...
Continue Reading • 10 Aug 2010
Singapore to become Asia's fastest-growing economy
Singapore is set to become the fastest growing economy in Asia this year as all the markets have responded positively to economic growth.Jones Lang LaSalle (JLL) has expressed a positive outlook for the office market due to the buoyant economic data, while residential activity remains healthy...
Continue Reading • 10 Aug 2010
Q2 earnings for listed companies surge
Following a slow start, Singapore-listed companies started to pick up in the second quarter, due to continued economic recovery.The 105 firms that released their Q2 financial results posted a combined net profit of $3.676 billion, which represents a 47.1 percent year-on-year-increase. Out of the...
Continue Reading • 10 Aug 2010
UOL Q2 profit soars to $147.8m
Property developer UOL Group has posted a net profit of $147.8 million in Q2, recovering from a $20.1 million net loss over the same period last year. The company’s gains in the second quarter were attributed largely to its hotel operations, property investments and developments, as well as...
Continue Reading • 10 Aug 2010
Ascott Reit to sell Jakarta property
Ascott Residence Trust (Ascott Reit) has entered into an agreement to sell its Jakarta property, Country Woods, for about $33.91 million. The price tag, which was the highest sale price offered in a bidding process, is 60 percent above the $21.2-million valuation of the property. Ascott Reit...
Continue Reading • 10 Aug 2010
Foreigners purchase more landed homes in Q2
The number of landed homes in Singapore purchased by foreigners and permanent residents, increased to 81 in Q2 from 69 in Q1, the strongest quarterly showing since the second quarter of 2007, based on the analysis of URA Realis caveats information up to July 30, which was conducted by...
Continue Reading • 10 Aug 2010
Banks in China told to stop third-home loans
The China Banking Regulatory Commission (CBRC) has ordered all banks in four key cities, including Hangzhou, Shenzhen, Shanghai and Beijing, to stop offering mortgage loans for third home purchases, according to Reuters.Meanwhile, banks in other cities must increase down payments to 60 percent...
Continue Reading • 6 Aug 2010
China's banks to test effect of 50% fall in property prices
China's banking regulator has directed lenders to test the effect of an approximately 50 percent decline in house prices in major cities where there has been a sharp increase in prices, according to regulatory and banking sources.The move is an indication that Beijing is focused on deflating...
Continue Reading • 6 Aug 2010