RICS opens branch in Singapore
The global property industry is focusing on new investment opportunities in the region, with countries in Asia showing signs of economic recovery. The Asian property market is beginning to recover particularly in the developing countries in Southeast Asia, attracting investors to develop...
Continue Reading • 18 May 2010
Ying Li incurs S$2.8M loss in Q1
Mainboard-listed Ying Li International Real Estate has recorded a 13.7-million-yuan or S$2.8-million net loss after tax for Q1, which overturns the 14,000-yuan net profit after tax over the same period last year.The company’s revenue for the first quarter this year dropped 58.3 percent to...
Continue Reading • 18 May 2010
Sunshine 100 to list IPO in Hong Kong this year
Chinese developer Sunshine 100 Real Estate Group has announced its plans to list shares in Hong Kong this year, although it is still monitoring whether the central government will impose further measures to curb the property market, which could affect the overall market, said the company’s...
Continue Reading • 18 May 2010
Prudential aims for secondary listing in Singapore and HK
British-based insurance firm Prudential has fully launched its long-awaited rights issue of US$21 billion (S$29.2 billion) and will be aiming for a secondary listing in the Hong Kong and Singapore stock exchanges on May 25.This will allow investors from HK and Singapore to purchase into...
Continue Reading • 18 May 2010
MAS proposes amendments on investment code
In a move to provide more protection to retail investors in Singapore, the Monetary Authority of Singapore (MAS) has proposed amendments on the guidelines for the unit trust industry.The MAS said that the proposed amendments to the Code on Collective Investment Schemes, which is commonly known as...
Continue Reading • 18 May 2010
Smaller players not lagging behind
Several smaller property developers are not being left behind by their bigger peers, recording strong results during the first quarter which ended March 31.Fragrance Group, a property and hotel operator, posted a net profit increase of 42.6 percent to $14.4 million, partially attributed to higher...
Continue Reading • 18 May 2010
Hillview Terrace residential plot launched for public tender
A residential parcel at Hillview Terrace has been put up for public tender.According to DTZ, its marketing agent, property owners have agreed to release their units, which comprises of between 12 and 24 units, for an en bloc sale.The 49,164-sq-ft freehold residential site can be developed into a...
Continue Reading • 18 May 2010
Private home fever
Sales of private homes exceeded the 2,000-unit mark for the first time in nine months since July last year.Based on the latest data presented by the Urban Redevelopment Authority (URA), there were 2,207 units sold last month on the back of resilient demand and positive sentiment.According to...
Continue Reading • 18 May 2010
Interest-only mortgages in the UK at risk
UK homeowners have been advised to switch to repayment mortgages, as many experts cautioned that interest-only mortgage deals are now at risk.Lloyds TSB said that customers looking to borrow over £500,000 must make capital repayments. Sales of a business or house are being removed, as well...
Continue Reading • 17 May 2010
Asian shares expected to fall further
Asian stocks are likely to go down after fears on euro zone debt weighed on Wall Street, New York, while measures to limit credit and debit card fees increased fears of tightened banks’ regulation.The major US indices closed as much as two percent lower on Friday, with several banks and...
Continue Reading • 17 May 2010
Beijing property measures burden homebuyers
Ms. Jiao Yurong, a 50-year-old accountant, has been saving to buy her son a flat.However, escalating property prices in China, compounded with a series of measures by the government to rein them in, are making it hard for the mother to proceed with her plan. “Just when we had saved enough...
Continue Reading • 17 May 2010
Singapore-China business ties to strengthen
Ties between Singapore and China will be strengthened as the Chinese economy continues to grow, said Minister Mentor Lee Kuan Yew during the Chamber of Commerce and Industry in China (SingCham) event in Beijing.Before Mr. Lee gave his statement, members and guest of SingCham observed a minute of...
Continue Reading • 17 May 2010
Singapore market starts on a weak note
Singapore market has started the week on a soft note after Wall Street ended weak on Friday, as investors continued to be apprehensive over the sustainability of European public debt.Straits Times Index fell 0.52 percent or 14.71 points to 2,840.50. Over all, losers beat gainers at seven to one...
Continue Reading • 17 May 2010
Property unit lifts F&N's Q2 results
Conglomerate Fraser and Neave’s (F&N) earnings for the second quarter rose sharply, lifted by better results across all business segments, especially from its property arm.The company has posted a net profit of $235.9 million for Q2, more than three times higher compared to the $64.3...
Continue Reading • 17 May 2010
CKH calls off Thomson View EOGM
The scheduled extraordinary general meeting (EOGM) at Thomson View condominium for the establishment of a new en bloc sales committee was called off yesterday due to a lack of quorum.CKH Strata Management, the appointed managing agent of Thomson View, called off the meeting after announcing that...
Continue Reading • 17 May 2010
New condo project off Lorong Ah Soo
Kheng Leong Company has launched The Minton, a 99-year lease condominium located in Lorong Ah Soo.The latest condo project, comprising 1,144 units, has facilities like a gym, swimming pool and clubhouse.Homeowners can choose from a 550-sq-ft one-bedroom unit to a 1,700-sq-ft four-bedroom unit and...
Continue Reading • 17 May 2010
$16-22 billion of new home sales for 2010, says CBRE
The total value of new home sales this year will be worth $16 billion to $22 billion, as the real estate market sees a momentum, which started last year, according to a new report released by CB Richard Ellis (CBRE).Based on caveats lodged for 2009, the total transaction value recorded $16.22...
Continue Reading • 17 May 2010
Number of property agents likely to fall this year
Property agents may get a major shake-up, as their numbers are likely to drop by as much as 25 percent when the new rules to regulate real estate agents start later this year.Those agents who fail to meet the new standards will likely leave the industry, and several market watchers said that...
Continue Reading • 17 May 2010
Home foreclosures in the US decline
Home foreclosures in the US have plummeted for the first time in four years, as the economy recovered from the latest recession fuelled by a mortgage meltdown, according to a real estate company.According to RealtyTrac, foreclosure fillings, including auctions, bank repossessions and default...
Continue Reading • 14 May 2010
Employee pleads guilty
Mr. Chew Swee Siong, 31, a former employee of Kenwood Property Consultants, has pleaded guilty to forging signatures to draw over S$500,000 from the bank accounts of a condo management committee.He pleaded guilty to 28 charges, while another 158 were taken into consideration.He committed the...
Continue Reading • 14 May 2010