HDB flats not a source of funds
HDB flats should not be used as a source of funds for business or for any other uses, said National Development Minister Mah Bow Tan a day after amendments to the Housing and Development Bill were made to prevent homeowners from using their HDB flats as collateral in settling their...
Continue Reading • 21 Jul 2010
Holland Tower up for sale
Holland Tower, a freehold residential redevelopment site located in District 10, has been put up for sale through a public tender by Jones Lang LaSalle (JLL).The URA said the redevelopment of the 21,879-sq-ft site, which is zoned for residential use, can maintain its current height and can be...
Continue Reading • 21 Jul 2010
Two residential sites up for sale
The URA has released two residential sites located at Buangkok Drive/Sengkang Central and Jalan Eunos up for sale, which could yield a total of 1,020 housing units.The residential site at Buangkok Drive/Sengkang Central was launched for sale under the Reserved List of the H2 2010 Government Land...
Continue Reading • 21 Jul 2010
Credit loss risks limited
The risks of credit loss for many Singapore banks will be limited even if an asset bubble emerged, said Standard & Poor's Ratings Services.The series of property price increases in the past few years, as well as the heavy exposure of Singapore banks to home loans, has raised concerns,...
Continue Reading • 20 Jul 2010
Flat prices in Beijing increase to 22 times income levels
According to Chinese state media, a typical flat in Beijing costs around 22 times the average incomes in the city, emphasising one of the challenges faced by China in providing affordable housing amidst a boom in the property market.According to the news report, a 90-sq-m apartment unit in...
Continue Reading • 20 Jul 2010
92 units at Larvotto project sold at HK$40m each
Another 50 luxury units in Hong Kong will be released for sale by the world’s biggest property developer by market value – Sun Hung Kai Properties Ltd – after homebuyers purchased all 92 units from its first batch put up for sale over the weekend.The property developer said...
Continue Reading • 20 Jul 2010
K-REIT Asia purchases property in Sydney
K-REIT Asia Management Limited has announced that RBC Dexia Trust Services Singapore Limited – a trustee of K-REIT Asia – through K-REIT (Australia) Sub-Trust 1 – a wholly-owned subsidiary of K-REIT Asia – has entered into an agreement with Kingvest Pty Limited for the...
Continue Reading • 20 Jul 2010
Marcus Evans organises summit
Leading business information company marcus evans recently organised the Asian Infrastructure & Property Development Summit 2010 in Macao, China. Held at the Four Seasons Hotel from 5 to 7 July, the event highlighted the current challenges and opportunities in the industry through case...
Continue Reading • 20 Jul 2010
HDB flats no longer a collateral
Amendments to the Housing and Development Bill have already been passed in Parliament under a ‘certificate of urgency’, a move that is aimed at preventing moneylenders from pushing homeowners to use HDB flats as collateral for any debt other than as mortgage.A growing number of HDB...
Continue Reading • 20 Jul 2010
Kaki Bukit industrial site up for public tender
The URA has put an industrial site at Kaki Bukit Avenue 4 up for public tender.With a total site area of around 3.0 hectares, the industrial site was reserved for Business 2 development. It has a leasehold period of 60 years and a maximum permissible gross plot ratio of 2.5.The industrial site is...
Continue Reading • 20 Jul 2010
New popular residential districts emerge
Districts 9, 10 and 11 have been the ideal residential areas in Singapore for several years. But with the recent property boom spreading to the suburbs, several newly popular districts have emerged outside these prime areas.Property developers have acquired land sites around suburban MRT stations...
Continue Reading • 20 Jul 2010
Home loans in Australia increase after low April result
The number of loans to owner-occupiers in Australia increased 1.9 percent in May, exceeding the market forecast of a one-percent increase.Figures from the Bureau of Statistics in Australia showed the increase was smaller, with the seasonally adjusted number of home loans increasing 0.4...
Continue Reading • 19 Jul 2010
Property stocks offer bargains
Investors who are looking for shares in Singapore-listed stocks may find them in the property sectors.According to analysts, some counters in these sectors are undervalued and offer good upside potential. ”Property will remain one of the main targets of foreign funds looking for laggard...
Continue Reading • 19 Jul 2010
Marina at Keppel Bay wins 5 Gold Anchors rating
Marina at Keppel Bay has become the first such Asian facility to bag the 5 Gold Anchors rating from the Marina Industries Association of Australia (MIAA).MIAA is an association for the marina industry in the Asia-Pacific region. It launched the Gold Anchor International Rating Scheme for marinas...
Continue Reading • 19 Jul 2010
CBRE announces promotion of Pauline Goh
CB Richard Ellis (CBRE) has announced the promotion of Ms. Pauline Goh as the new chief executive officer for South East Asia starting on July 1, 2010.Ms. Goh has been a part of the company for 27 years and during this period, she has established herself as a model professional in the execution...
Continue Reading • 19 Jul 2010
LHW eyes second luxury hotel in Singapore
Leading Hotels of the World (LHW) is planning to put its premier brand behind a second luxury hotel in Singapore.The hospitality chain expects to have the second luxury hotel up by end of this year but claimed the timetable has not been confirmed.Currently, the company’s network in the...
Continue Reading • 19 Jul 2010
Frasers Centrepoint buys StarHub Centre from CCT
Property developer Frasers Centrepoint is acquiring Starhub Centre from CapitaCommercial Trust (CCT) for approximately S$380 million.Starhub Centre is a ten-storey office building with retail space located next to FCL's Centrepoint mall. Currently, the property has a committed occupancy rate of...
Continue Reading • 19 Jul 2010
SDB Asia acquires Cavenagh Mansions for S$42.4m
SDB Asia, a wholly-owned subsidiary of Selangor Dredging Berhad (SDB), has acquired Cavenagh Mansions for about S$42.4 million.This translates to around $1,025 psf ppr with a development charge of approximately S$267,000.The freehold residential property at District 9 currently houses 21...
Continue Reading • 19 Jul 2010
New development set to change landscape of Orchard Road
Orchard Road will be adding a new face to its shopping belt, with a retail, hotel and office project soon to come up at the sites of the former Specialists' Centre and Hotel Phoenix, and also Orchard Emerald mall.The project will cost nearly S$700 million and is slated for completion in the...
Continue Reading • 19 Jul 2010
High-end market has room for growth
Singapore has long been regarded as a safe investment haven, which is why foreigners are snapping up property throughout the island.Foreigners have bought around 23,000 non-landed private homes since 2007, 35 percent of which are high-end homes in Districts 1, 2, 4, 9, 10 and 11, according to the...
Continue Reading • 19 Jul 2010