Tenders for state land still fetching record prices
A public tender for a 99-year leasehold residential site next to Potong Pasir MRT Station has fetched a record price of $607 psf ppr.This was the second highest price paid for a 99-year leasehold site sold by the government in the country’s Rest of Central Region.However, market analysts...
Continue Reading • 3 Jun 2010
Australian acquisitions may benefit S-REITs
The recent Australian acquisitions by Singapore REITs may be beneficial but could add risks, according to Fitch Ratings.Fitch Ratings’ latest report entitled ’Australian Acquisitions Benefit S-REITs But Add Risks’, maintains that although there are benefits to the offshore...
Continue Reading • 2 Jun 2010
Niche living in Hong Kong
An architect made a breakthrough of squeezing more than a thousand rooms into a 344-sq-ft apartment. This innovative concept was created and designed by Gary Chang who had once lived in a near-limitless small space for over 30 years.Mr. Chang has a successful interior design and architectural...
Continue Reading • 2 Jun 2010
UK mortgage brokers get higher regulatory fees
Regulatory fees in the UK for mortgage brokers will increase this year until 2011, according to the Association of Mortgage Intermediaries (AMI).Robert Sinclair, director of AMI, said that "the FSA proposals represent a substantial increase in fees for mortgage intermediaries who already...
Continue Reading • 2 Jun 2010
Housing problem in China worse than the US
The housing market problems in China are worse than those in the United States prior to the global recession as they could stir up public discontent, according to a central bank adviser.The comments were made before the State Council in China, or the cabinet, said that it would “gradually...
Continue Reading • 2 Jun 2010
Moody's upgrades outlook for S-REITs to stable
Credit ratings agency Moody's has revised its outlook for Singapore's real estate investment trusts (S-REITs) from negative to stable.It reflects its view that the sector's fundamental credit conditions will remain stable over the next 12-18 months.According to Moody’s, the outlook was...
Continue Reading • 2 Jun 2010
Malaysia's Sunway REIT secures four investors
Malaysian property developer Sunway City Bhd has secured four cornerstone investors who will acquire 14 percent of the initial public offering of its Real Estate Investment Trust (REIT) for about $500 million.According to the company’s draft prospectus, the cornerstone investors includes...
Continue Reading • 2 Jun 2010
GIC bids for iconic London Hotel
Government of Singapore Investment Corp (GIC) is one of the cash-rich buyers eyeing to purchase a London landmark -- Grosvenor House Hotel -- from the Royal Bank of Scotland Group PLC, sources said.The Grosvenor House Hotel is expected to fetch around £500 million ($727.1 million), which is...
Continue Reading • 2 Jun 2010
Wee Hur subsidiary exercises option to purchase property for S$15.2m
Mainboard-listed Wee Hur Holdings said on Tuesday that its wholly-owned subsidiary Wee Hur Paya Lebar has exercised the option to acquire a property for S$15.2 million.The property is situated at 422 Upper Paya Lebar Road and its transaction is still pending approval from authorities.The...
Continue Reading • 2 Jun 2010
Soon Hock Tuas Development grabs tender for Tampines Industrial Ave 4
The tender for the Industrial Government Land sales site at Tampines Industrial Avenue 4 was awarded by JTC Corporation to Soon Hock Tuas Development.JTC Corp received 10 bids for the site.Soon Hock Tuas Development submitted the highest bid of about S$33 million for the tender located within...
Continue Reading • 2 Jun 2010
Asia Pacific hotel transactions to be around 29 percent of global sales
Asia Pacific hotel transactions are seeing a boom, with sales expected to be around US$3.7 billion (S$5.2 billion) - or 29 percent of global sales - in 2010, according to Jones Lang LaSalle.It said that transaction volume is estimated to reach US$12.8 billion (S$18.1 billion) this year. Asia...
Continue Reading • 2 Jun 2010
Interest rates in Australia tipped to stay as they are
The Reserve Bank in Australia is certain to put the interest rates on hold for the first time since February, after its half a dozen near-consecutive rate increases have affected borrowing and real estate prices.PR Data figures showed a 0.2-percent ''anaemic growth'' in home prices in April, the...
Continue Reading • 1 Jun 2010
Sim Lian to sell property worth S$46.3m
Property developer Sim Lian Group, through its unit Geo-Tele, has put up its property at 9 Tai Seng Drive for sale to Sabana Investment Partners (SIP) for about S$46.3 million. The company said the asking price represents a premium of 78-percent over the book value and presents an attractive...
Continue Reading • 1 Jun 2010
Waldorf and Foh Pin Mansions up for sale
Two residential sites were put up for collective sale for at least $22.5 million each, whereas another en bloc deal for $95 million has been sealed. The 11-storey Waldorf Mansion in the Balestier area occupies 11,384 sq ft and was built in the 1990s. The site is zoned for residential...
Continue Reading • 1 Jun 2010
Far East to launch six projects in H2
Property developer Far East Organization will launch six residential projects in the second half of 2010, with over 1,500 residential units, said Chia Boon Kuah, COO of FEO.Mr. Chia, who is optimistic on the mass and high-end market sectors of the private property market here, said that most - if...
Continue Reading • 1 Jun 2010
Singapore REITs raise gearing levels to boost acquisitions
The Real Estate Investment Trusts (REITs) of Singapore have strengthened and are now gearing to hit the acquisition trail, analysts claimed.Singapore's REITs have refinanced debt and recapitalised their balance sheets, which will help them to post better figures this year. After a challenging...
Continue Reading • 1 Jun 2010
Singapore office property market on the upturn
The office property market in Singapore is picking up, said brokerage company Nomura.Nomura stated that amid stronger-than-expected demand, office rentals in the country are bottoming out, prompting tenants to commit sooner than expected.A decrease in occupancy costs, as well as the desire to...
Continue Reading • 1 Jun 2010
NUS home price index in April surges 2.5 percent
The overall price index for non-landed private homes in Singapore surged 2.5 percent in April over the previous month, according to the latest estimates released by the National University of Singapore.The latest figures reflect an increase of six percent since end-2009, and a 32.8 percent...
Continue Reading • 1 Jun 2010
Property agents urged to be responsible in light of scare tactics
Property agents in Singapore have been advised to be more responsible in the light of “scare tactics” on clients’ concerns.A number of emails showed that some real estate agents are highlighting the recent land sales of the government to lower customer expectations of property...
Continue Reading • 1 Jun 2010
Resale homes in Districts 1, 2 & 4 in high demand
Property consultancy group CB Richard Ellis said that resale contracts of non-landed private homes in districts 1 and 2 – which cover the country’s financial district – and district 4 – which includes Keppel Bay, Sentosa Cove and Harbourfront areas – reached $750.8...
Continue Reading • 1 Jun 2010