Private residential resale prices increase in Q2
Residential capital values in the resale market for private condos continued to increase on the back of encouraging volume of sales in the second quarter of 2010, said property consultancy group Jones Lang LaSalle (JLL).JLL said estimates showed that the growth in Q2 was led by central and prime...
Continue Reading • 6 Jul 2010
Interest rates on refinancing mortgages in the US drops
The average interest rates on refinancing mortgages in the US have declined, with the 30-year fixed-rate mortgage for refinancing falling two basis points on Friday compared to Thursday.The average 30-year fixed-rate for refinance mortgages hit 4.76 percent last week, compared with 4.73 percent...
Continue Reading • 5 Jul 2010
Yuan stocks oversold
China’s yuan-dominated stocks, which were heading for its worst week in 16 months, will likely see a rebound after declining below counterparts listed in Hong Kong, according to Mr. Jerry Lou, China strategist at Morgan Stanley."The market looks very, very oversold," said Mr. Lou....
Continue Reading • 5 Jul 2010
TCT's portfolio sees 6.64 percent increase
Treasury Holdings Real Estate Pte Ltd – the trustee manager of Treasury China Trust (TCT) – has announced that its property portfolio increased RMB586 million (6.64 percent) over its portfolio value of RMB8.834 In June last year. The portfolio valuation for the current period...
Continue Reading • 5 Jul 2010
Guthrie GTS sells Amoy properties
Guthrie GTS has sold its properties located at 112 to 116 Amoy Street for S$24.5 million to Sun Venture Invesco.The price of the properties was negotiated through a willing-buyer and willing-seller basis after considering the current market trends. Guthrie said it expected to record a net surplus...
Continue Reading • 5 Jul 2010
AFP emerges as regional property player
In spite of boasting a portfolio of property located across Asia-Pacific countries, Asia Food & Property (AFP) has only managed to attract limited market attention. However, this could soon change after its recent restructuring, which has improved the company’s shareholders’...
Continue Reading • 5 Jul 2010
Large M&A deals expected in H2
Morgan Stanley is expecting a few mergers and acquisition (M&A) deals involving Singapore-based companies that are worth US$1 billion in the second half of 2010, according to a senior banker.There could also be six IPOs of Singapore firms streaming in by end-2010, said Arthur Lang, co-head of...
Continue Reading • 5 Jul 2010
Singapore to intensify use of industrial land
Singapore is looking at how it can intensify the use of its industrial land, given the shortage of sites, particularly those with waterfront access.JTC Corporation said that the study will cover a sector involving more than 3,000 firms, broadly involved in two clusters: marine engineering...
Continue Reading • 5 Jul 2010
Small office space attracts more interest
Investing in a condo unit may be popular, but some homebuyers are choosing a very different part of the real estate market.They have turned to the office sector to pick up strata-titled office units as another form of investment, as hopes of a recovery within the office market grow this...
Continue Reading • 5 Jul 2010
Suburban malls rents catch up with Orchard Rd
Rents at Singapore's suburban malls are fast catching up with prime Orchard Road retail space rents, as neighbourhood malls draw more interest from tenants and shoppers.The difference between suburban rents and prime Orchard Road rents narrowed to just nine percent in Q2 2010, from 24 percent at...
Continue Reading • 5 Jul 2010
US residential mortgage bonds booming
Residential mortgage bonds in the US are once again in the spotlight of the financial market.Many investors are now venturing out for mortgage bonds backed by the federal government as a safe haven from the turmoil of the global economy, a turnaround fortune that helped drive interest rates to...
Continue Reading • 2 Jul 2010
Ascott to open Citadines Melbourne
Property developer Ascott, a wholly-owned unit of CapitaLand, has invested nearly A$168 million to develop its first Citadines serviced residence in Melbourne, Australia.The new Citadines Melbourne on Bourke, comprises 380 residential units. It will be Ascott’s largest Citadines-branded...
Continue Reading • 2 Jul 2010
Investors need to pay attention to valuations, say analysts
Aberdeen Asset Management believes investors should pay attention to valuations, because greater volatility suggests that markets are not very certain of what is being priced in.Aberdeen also said the global financial markets could experience renewed turbulence because of weaker-than-expected...
Continue Reading • 2 Jul 2010
Genting Singapore to divest operations in UK
Mainboard-listed Genting Singapore said it will sell its casino businesses in the UK to Genting Malaysia for £340 million (S$688.8 million).Genting said the move will allow it to focus on reinforcing the large scale integrated resort experience it obtained in developing Singapore's biggest...
Continue Reading • 2 Jul 2010
SLA to re-launch tender for Old Admiralty House site
The Singapore Land Authority (SLA) has announced the re-launch of a public tender for the Old Admiralty House site, which is part of the former British naval base in Sembawang.SLA has terminated the contract with the YESS Resorts and Country Club, which had used the site in 2007 for a monthly...
Continue Reading • 2 Jul 2010
UOL sets up S$1b MTN programme
UOL Group has become the latest local company to look for financing through the introduction of debt issuance programmes.The property developer said it has set up a multicurrency medium term note (MTN) programme worth S$1 billion, with United Overseas Bank (UOB) and DBS Bank being appointed as...
Continue Reading • 2 Jul 2010
HDB launches three more sites for sale
HDB has launched three more sites for sale through a public tender under the second half of the Government Land Sales (GLS) programme.One of them is a mixed commercial-residential site, while the other two are residential sites.The mixed development site is situated at the junction of New Upper...
Continue Reading • 2 Jul 2010
UK mortgage approvals flat in May
Mortgage approvals in the UK were unexpectedly flat in May, but both consumer credit and net mortgage lending rose faster than expected, according to new figures released by the Bank of England.The Bank of England said mortgage approvals in May dropped to 49,815 from 49,828 in the previous month....
Continue Reading • 1 Jul 2010
IPC ventures into the hospitality sector
IPC Corporation in Japan is branching from the residential market into the hospitality sector, with the purchase of two business hotels in Tokyo.The company said it has purchased a 112-room hotel in Asagaya and another 96-room hotel in Asakusa amounting to 1.87 billion yen (S$28 million).IPC...
Continue Reading • 1 Jul 2010
Two Kowloon sites up for auction
The Hong Kong government will be selling two land sites in the Kowloon area in its fifth land auction this year, after several developers committed to pay the minimum price needed to trigger the sale.The government announced that an unidentified property developer agreed to pay HK$1.77 billion...
Continue Reading • 1 Jul 2010