US mortgage rates continue to fall
The financial crisis in Europe is giving an unexpected turnout for American homebuyers, as international money looking for a safe haven is coming into the US, pushing domestic mortgage rates to the lowest level of the year and near to 50-year lows. The US housing market had been suffering...
Continue Reading • 24 May 2010
Real estate in China down?
Residential property prices could fall by 30 percent in mainland China, according to property developer Ronnie Chan.The chairman of Hang Lung Group and Hang Lung Properties hopes the retail market does not fall by 50 percent, “but it's anybody's guess,” Mr. Chan said.He thinks the...
Continue Reading • 24 May 2010
JB Global unveils property fund
A new capital protected fund tied to the United States housing market is set to be launched by Australian investment manager JB Global.JB Global chief executive Justin Beeton said that without the risks associated with direct investment, JB Global US Real Estate Investment offers investors...
Continue Reading • 24 May 2010
Home sales in the US likely climbed
Sales of existing and new homes, orders for factory goods and consumer spending in the United States probably climbed a month ago, indicating that the country’s recovery is strengthening before the debt crisis in Europe rattled global financial markets, according to economists.Bookings for...
Continue Reading • 24 May 2010
Real estate group introduces improved accreditation system
A real estate agency body has introduced a revamped system of accreditation, which allows members to complement the government’s newly declared mandatory licensing scheme for the industry.The Singapore Accredited Estate Agencies (SAEA) said that its improved accreditation role for estate...
Continue Reading • 24 May 2010
Opening of downtown malls hits neighbourhood shops' sales
According to the Federation of Merchants’ Associations, Singapore, neighbourhood shops are getting a double whammy these days.Less people seem to be shopping in the neighbourhood with the opening of a number of new malls and the integrated resorts. Chua Ser Keng, the president of the...
Continue Reading • 24 May 2010
Capella Singapore joins Conde Nast Traveler Hot List
The ultra-luxury resort on Sentosa Island – Capella Singapore – has been listed on the annual Hot List of Conde Nast Traveler, which recognizes the top 134 new hotels in the world.Capella Singapore, which is surrounded by 30 acres of rainforest, was opened in March last year on...
Continue Reading • 24 May 2010
Woodlands Waterfront Phase One opens
Singapore’s latest recreational destination in the north – Woodlands Waterfront – was officially opened yesterday.Organized by Nee Soon Central, Nee Soon East SMCs and Sembawang GRC, the opening was held in conjunction with a sports carnival and a community walk attended by over...
Continue Reading • 24 May 2010
Prices increase but sub-sales remain steady
Investors should be prepared to fork out more cash if they wish to enter the sub-sale market.Prices have risen during the first quarter even though the volume of sub-sale transactions of non-landed homes remained stable at 13 percent of the total non-landed sales, according to the latest report...
Continue Reading • 24 May 2010
More land sites for residential use
To meet the strong demand for housing, the Singapore government has lined up the release of 18 residential/commercial or residential sites under the programme for confirmed sale in the second half of 2010. This would be the largest ever release of state land for private homes. Aside from the 18...
Continue Reading • 24 May 2010
Low interest rates may overheat property market
Interbank lending rates have declined to a record low in Singapore, shrugging off concerns from some market watchers that cheap lending may overheat the country’s real estate sector.Ong Chong Tee, deputy managing director of the Monetary Authority of Singapore (MAS), said the decline in...
Continue Reading • 21 May 2010
Singapore economy jumps 15.5 percent in Q1
The Singapore economy grew 15.5 percent on-year during the first quarter, driven by a massive growth in the manufacturing sector.According to the Ministry of Trade and Industry (MTI), Gross Domestic Product (GDP) jumped 38.6 percent in Q1 on a seasonally adjusted quarter-on-quarter basis.The...
Continue Reading • 21 May 2010
Tiong Seng signs 4.5b-yuan contract for Tianjin Eco-City development
Recently-listed property developer and construction group Tiong Seng Holdings has signed an agreement worth 4.5 billion yuan (S$921 million) with a Japanese property firm and the master developer of Tianjin Eco-City to construct the first river-front eco-neighbourhood in the eco-city.According to...
Continue Reading • 21 May 2010
Swiber Holdings wins US$618m South-Asia deal
A major oil and gas operator in South Asia has awarded a deal worth about US$618 million to Swiber Holdings, an integrated construction and support services provider to the offshore industry.According to the group, this represents the single largest contract it has so far secured in a consortium...
Continue Reading • 21 May 2010
SAEA joins forces with SISV to plug gaps in property industry
The Singapore Accredited Estate Agencies (SAEA) hopes to plug some gaps it has identified in the property sector before the new rules to regulate real estate agents is implemented later this year.It will be collaborating with the Singapore Institute of Surveyors and Valuers (SISV) to help...
Continue Reading • 21 May 2010
MGPA sells Cascadia units to Alpha fund
MGPA, a private equity property group, is said to have sold its share in 162 apartments it purchased at The Cascadia three years ago to a fund managed by Alpha Investment Partners by Keppel Land.The average selling price at the latest sale of the freehold apartment on Bukit Timah Road ranges from...
Continue Reading • 21 May 2010
Shopping mall in Serangoon Central reports strong demand
Owners of a new shopping mall in Serangoon Central, known as nex, have announced strong demand for the property, with 95 percent of the total space already leased out to more than 300 confirmed tenants.Property developer Gold Ridge has disclosed the figures with the announcement that the property...
Continue Reading • 21 May 2010
JTC launches tender for North Buona Vista Drive site
JTC Corporation (JTC) has announced that the 1.8-ha, 99-year leasehold site in North Buona Vista will be launched for public tender after it has accepted an application from a developer.The unnamed developer committed to bid a minimum price of S$320 million or US$229 million for the land site,...
Continue Reading • 21 May 2010
MCL Land tops Hougang residential site tender
Property developer MCL Land outbid six other developers for a 99-year leasehold residential site at the junction of Hougang Avenue 2 and Yio Chu Kang Road.MCL Land offered a top bid of $207.5 million, which translates to about $456 psf ppr. This was higher than the analysts' projection of $310...
Continue Reading • 21 May 2010
Private home market remains firm in Q1
The private home market remained firm during the first quarter of 2010, with more expensive units changing hands and transaction volumes on the rise.Based on DTZ’s analysis of caveats lodged, there were 8,159 private residences sold in Q1 2010, 22 percent higher than that in the preceding...
Continue Reading • 21 May 2010