Rental rates for residential units surge
Rental rates for residential units in Singapore have tracked the increase in private property prices, with rentals for condos posting a significant increase of 5.8 percent within the first five months of 2010.According to data presented by URA, median rentals of non-landed residential properties...
Continue Reading • 12 Jul 2010
Units at Regent Grove sell for $665 psf
While transactions of new home sales have fallen, prices appear to have held up.At Choa Chu Kang, several condominium units are being offered at the price range of $600 psf. For instance, the 553-unit 99-year leasehold Regent Grove condo at Choa Chu Kang North 7 has attracted homebuyers who are...
Continue Reading • 12 Jul 2010
96 units sold at 368 Thomson
City Developments Limited (CDL) has sold 96 of the 120 units released for sale in the first phase of its 368 Thomson condo, at an average price of $1,350 psf.The property developer said it is releasing more units to cater to increasing demand. The 36-storey freehold condominium located in...
Continue Reading • 12 Jul 2010
CDL, UOL continue to sell condo units
City Developments Ltd (CDL) and UOL Group have continued to sell units over the weekend at their recently released condominium projects.UOL and LaSalle Investment Management sold another 46 units over the weekend at The Terrene at Bukit Timah aside from the 50 units they had sold on...
Continue Reading • 12 Jul 2010
Shanghai banks restart third home loans
Several banks in Shanghai have resumed offering loans for third home purchases despite the central government’s decision to ban home loan applications for third home purchases.However, the interest rates being charged for third home loans seem to be very high.The Shanghai branch of...
Continue Reading • 9 Jul 2010
Suzhou aims to become the world's office
After several years of being the "world's factory", the Suzhou Industrial Park (SIP), together with Suzhou city, has now embarked on a transformation to be the "world's office" in an attempt to re-invent itself.Suzhou party secretary Jiang Hong Kun referred to the...
Continue Reading • 9 Jul 2010
No new property measures for China
The central government of China has no plans of implementing another round of tightening measures in the property market in the third quarter, said a senior official.Wang Yulin, deputy research head for the Ministry of Housing and Urban-Rural Development, said the central government would...
Continue Reading • 9 Jul 2010
LEGOLAND Malaysia offers preview of creations
LEGOLAND Malaysia has, for the first time, opened the Model Building Centre to specially selected guests, at an event hosted by Iskandar Investment Berhad – the catalytic developer of Iskandar Malaysia.Specially invited visitors, including Y.A.B. Dato' Haji Abdul Ghani bin Othman, Chief...
Continue Reading • 9 Jul 2010
CMMT looking to raise 852m ringgit in its IPO
CapitaMalls Malaysia Trust (CMMT), a subsidiary of CapitaMalls Asia, is raising around 852 million ringgit (US$267 million) in its initial public offering (IPO).The company has fixed its final price for cornerstone and institutional investors at one ringgit per share, while the final retail price...
Continue Reading • 9 Jul 2010
Frasers Property hopes smaller units will increase demand
Singapore-based Frasers Property Group hopes that the inclusion of more, smaller apartments will boost demand for its $2-billion Sydney residential property development, which recently received the official green light.Stanley Quek, managing director of Frasers Property Australia, said one-third...
Continue Reading • 9 Jul 2010
ANZ set to move into Ocean Financial Centre
ANZ has announced its intention to transfer its Singapore head office from One Raffles Place to the Ocean Financial Centre at Collyer Quay, in the second half of this year.“Moving to a world-class building reflects ANZ’s commitment to both Singapore and to the South and South East...
Continue Reading • 9 Jul 2010
Esplanade Xchange opens
Esplanade Xchange, Singapore’s latest underground retail space is now officially open.Located above the Esplanade MRT Station, the retail space is the first Xchange along the partially opened Circle Line. It is also near Suntec City and Marina Square.Out of the 26 tenants at the Xchange, 14...
Continue Reading • 9 Jul 2010
The Sound set to be launched
Leading private property developer Far East Organization has announced that its latest freehold development – The Sound – is set to be launched.Situated in Siglap, the family-friendly condominium is a short walk to East Coast Park via the Siglap Park connector. It is also close to...
Continue Reading • 9 Jul 2010
Higher rates hit small Australian firms
Big banks in Australia are likely to keep lifting interest rates to small- and mid-sized business clients as part of their bid to recover funding costs.The increase in interest rates will be another hurdle for the sector, which remains volatile in today’s economic condition. Many small- and...
Continue Reading • 8 Jul 2010
Analysts expect 20% decline in China property prices
The red hot Chinese property market is showing signs of a slowdown, with some analysts saying that property prices could drop by 20 percent in the next 12 to 18 months.However, others said that a decline in prices will only have a minimal impact on the country’s banking system.The property...
Continue Reading • 8 Jul 2010
Global economic recovery continues, says Credit Suisse
The recovery of the global economy will continue but at a slower pace compared to the past two quarters, and should avoid falling back into recession, according to analysts at Credit Suisse.Ms. Fan Cheuk Wan, the bank's head of Asia Pacific research, said that while some fear that another decline...
Continue Reading • 8 Jul 2010
Singapore IPO scene records poor showing
The Singapore initial public offering (IPO) scene paled compared with other Asian nations in the second quarter of 2010, according to the recent global IPO study conducted by accounting firm Ernst and Young.For the second quarter ended 30 June 2010, the Singapore Exchange attracted six IPOs from...
Continue Reading • 8 Jul 2010
PropNex to celebrate 10th anniversary
Local property agency PropNex has achieved a major milestone as it celebrates ten successful years of trusted customer service and professionalism next week.Propnex’s success has been the product of hard work, dedication and passion, as well as its business strategy to leverage on...
Continue Reading • 8 Jul 2010
JLL hires two Capital Market experts
Jones Lang LaSalle (JLL) has hired two experts to further enhance its 185 Capital Markets professionals in the region – a move that is aimed at further expanding the company’s Asia Capital Markets business.Mr. Akihiko Mizuno is set to join JLL in August as head of Capital Markets...
Continue Reading • 8 Jul 2010
Ascott wins two China Somerset contracts
Ascott Limited, a wholly-owned service residence business unit of CapitaLand, has won contracts to manage two properties, one each in Shenzhen and Xi'an.It follows the company’s recent expansion into Chengdu after the opening of Somerset Riverview, Chengdu in April.The latest additions,...
Continue Reading • 8 Jul 2010