Collective sale of Pender Court fetches S$95m
The 48-unit residential development called Pender Court, which is located at the foot of Mount Faber, has become the eighth successful collective sale in the country for 2010.The property was purchased by Hoi Hup Realty for S$95 million, which translates to about $1,007 psf ppr.Property...
Continue Reading • 15 Jun 2010
URA to release tender for hotel site
URA will release a tender for a hotel site situated at the junction of Clemenceau Avenue and Havelock Road over the next two weeks.URA said it has already accepted an application from a property developer for the site, which was put up for tender on the Reserve List. The developer has committed...
Continue Reading • 15 Jun 2010
Foreclosure assistance in the US for eligible homeowners
The global economy is struggling to stay afloat, and most Americans are still looking for foreclosure assistance coming from the federal government.The “Making Home Affordable Program” of the US government gave new opportunity to US homeowners to modify or refinance their home loans,...
Continue Reading • 14 Jun 2010
China's foreign direct investment rises again
China’s foreign direct investment increased for a tenth month in May – further evidence that the country is weathering the debt crisis in Europe.According to a World Bank forecast, the Chinese economy will grow by 9.5 percent in 2010, three times the growth rate of the United...
Continue Reading • 14 Jun 2010
Asian demand for London homes rises
Asian investors, attracted by increasing rents and a weak pound, made up almost 50 percent of all buyers in the London real estate market in 2009, according to research conducted by Knight Frank LLP.Investors from Singapore, Hong Kong, Malaysia and China accounted for 28 percent of London home...
Continue Reading • 14 Jun 2010
Low Keng Huat's Q1 net profit rises 70 percent
Mainboard-listed builder Low Keng Huat has announced that its Q1 profit attributable to shareholders increased 69.6 percent to $19 million, compared to $11.2 million in the previous corresponding quarter.The increase in the Q1 result was largely attributed to the higher profit of its construction...
Continue Reading • 14 Jun 2010
MOF seeks feedback on property tax bill
The Ministry of Finance (MOF) has launched a public consultation to ask for feedback on the proposed changes to the Property Tax Act.MOF said the draft Property Tax (Amendment) Bill 2010 will have 12 suggested changes including the periodic reviews result of the property tax system and “aim...
Continue Reading • 14 Jun 2010
More disclosure needed
Property developer CapitaLand has disclosed recently that Liew Mun Leong, the company’s CEO and president, had paid around $3.74 million for a penthouse situated at the 23rd level of the Interlace project.It is not unusual for property firms’ directors to acquire units. Media reports...
Continue Reading • 14 Jun 2010
Going green rewards developers
Some property developers have been rewarded for their initiative to go green, receiving additional floor space for their projects.According to the Building and Construction Authority (BCA), it has received 37 applications for the Green Mark GFA Incentive Scheme, which grants additional gross...
Continue Reading • 14 Jun 2010
SDB eyes Singapore's high-end property market
SDB Properties, the property arm of Selangor Dredging Bhd, is eyeing the premium property market in Singapore.After it launched its first residential development in 2007 called Jia, SBD is moving forward with its second property project – Gilstead Two – located at Gilstead Road near...
Continue Reading • 14 Jun 2010
Stevens Suites preview expected within weeks
Boutique property group EL Development will begin previewing its 32-unit Stevens Suites later this month or early in July.The freehold project located at Stevens Close has a price range of between $1,680 per sqf and $2,050 psf. It will have one-, two- and three-room apartments and eight...
Continue Reading • 14 Jun 2010
Record price for top-end bungalow in Sentosa Cove
Amid the warnings that have crept into the property market for mainstream condominiums in May, a record price has been set in Sentosa Cove for a top-end bungalow.The bungalow, which is located at Paradise Island, was sold in the resale market for $36 million or $2,403 psf on land area last month,...
Continue Reading • 14 Jun 2010
CGT increase could benefit first-time buyers in the UK
First-time homebuyers in the UK could benefit from the increase of capital gains tax (CGT), according to a sector commentator.Helen Adams, managing director at FirstRungNow.com, said such an increase could discourage buy-to-let landlords from purchasing properties that may be suited for...
Continue Reading • 11 Jun 2010
Global economic outlook brighter, says poll
Fund managers are now more optimistic on the global economic outlook compared to six months ago.However, they are concerned that the growth momentum could ease during the second half of the year, as government stimulus begins to be withdrawn, according to a poll of 19 fund managers conducted by...
Continue Reading • 11 Jun 2010
Indonesia boasts seaside residential projects
Luxury living in seaside residential projects in Indonesia has emerged as a trend, becoming a hit for those who cannot afford homes at Sentosa Cove.The Montigo Resorts, which is located in Batam Island, features 45 semi-detached and terrace houses with sizes of more than 560 sq m and priced from...
Continue Reading • 11 Jun 2010
Thailand fears property bubble formation
The President of the Agency for Real Estate Affairs in Thailand has cautioned against a possible bubble formation in the country’s property market.Dr. Sopon Pornchokchai stressed that a bubble could form in 2011 and 2012 due to the rapid construction of low-priced housing, as property...
Continue Reading • 11 Jun 2010
Property prices in China surge in May
China's property prices increased at the second-fastest rate last month, indicating little sign that the government’s crackdown on speculation will work to stop an asset-price bubble.The 12.4-percent gain compared with the recorded 12.8 percent increase in April 2009, according to the...
Continue Reading • 11 Jun 2010
EOC unit resumes operation
Construction company EOC's unit Lewek Arunothai will resume operations after a 40-day suspension for scheduled upgrading and maintenance.With this, the unit is expected to start generating income. EOC’s revenue for Q2 2010 was US$35.5 million, up 140 percent from US$14.8 million in the...
Continue Reading • 11 Jun 2010
Shares of Parkway Holdings surge
Parkway Holdings shares surged on hopes that a bidding war for the hospital operator will emerge.At one time, its share price reached $3.85, higher than the $3.78 per share bid made by Integrated Healthcare Holdings (IHH), a unit of Malaysian sovereign wealth fund, Khazanah.Reports have emerged...
Continue Reading • 11 Jun 2010
Investors demand regulation of land banking
A group of Singaporean investors is calling for better regulation of land banking, after failing to get back their dues from investment company Profitable Plots and left to fend for themselves.Investors were unable to recover a sum worth more than $2 million, as they have not been able to seek...
Continue Reading • 11 Jun 2010