Home prices in non-central areas outpace prime areas
A new index from the National University of Singapore (NUS) shows that prices of non-landed private homes outside the prime districts of Singapore are now growing at a faster rate than prices in the prime districts.“Non-central” home prices surged 1.2 percent last month, taking the Q1...
Continue Reading • 29 Apr 2010
Raffles Place area not losing its lustre, says CCT CEO
Raffles Place is unlikely to lose its attraction as a business district, said Ms. Lynette Leong, CEO of CapitaCommercial Trust (CCT), which has three office properties in the area.Despite some financial institutions moving to the Marina Bay area, Ms. Leong is seeing strong interest from existing...
Continue Reading • 29 Apr 2010
Proposed changes benefit developers sitting on a pot of collective gold
The spotlight has shifted onto property developers sitting on prime sites acquired during the 2006-2007 en bloc boom, while the market mulls over the impact that rule changes will have on collective sales.If the proposed changes will make it harder for prime freehold residential sites to make...
Continue Reading • 29 Apr 2010
UK home loan approvals slightly up in March
The number of home loan approvals in the UK increased slightly last month, after it dropped in February, while net mortgage lending growth eased as homeowners paid off debt.According to the British Bankers' Association, the number of loans approved for home purchases climbed to 34,905 last month,...
Continue Reading • 28 Apr 2010
Real estate industry gets fundamental re-look
The government is taking a "fundamental re-look" at the entire property industry.This includes strengthening measures to curb abuses and deceitful practices, said National Development Minister Mah Bow Tan in Parliament.Among the measures, the government intends to plug a loop hole on...
Continue Reading • 28 Apr 2010
Suntec REIT's Q1 results drop
Suntec Real Estate Investment Trust (Suntec REIT) has announced that its distribution per unit (DPU) for the first quarter dropped 13.9 percent to 2.51 cents from last year’s 2.92 cents.Distributable income for the quarter that ended March 31 fell 2.1 percent to S$45.37 million on-year,...
Continue Reading • 28 Apr 2010
HDB releases state land in Pasir Ris for application
HDB will make available a state land parcel in Pasir Ris for application under the Reserve List of the Government Land Sales (GLS) Programme from today.The 99-year leasehold site, which sits at the junction of Pasir Ris Drive 3 and Pasir Ris Drive 4, can yield about 380 residential units intended...
Continue Reading • 28 Apr 2010
Top bids for Changi residential site at lower end of estimates
The tender for a residential site at Upper Changi Road North/Flora Drive closed yesterday on a more subdued note compared to other recent tenders.The 3.07-hectare land parcel, which can yield up to 390 apartments, drew a total of six bids, with a top bid of $148.3 million or $321 psf ppr coming...
Continue Reading • 28 Apr 2010
Marina Bay Sands opens its doors
The second integrated resort in Singapore opened its doors to the public yesterday at 3:18pm, giving a fresh boost to the country’s tourism industry and raising its profile as a playground for the world's high-rollers.Built by US gaming giant Las Vegas Sands, the US$5.5-billion (S$7.5...
Continue Reading • 28 Apr 2010
More difficult now for Australians to secure home loans
New rules which will allow brokers and banks in Australia to analyze the spending habits of borrowers will be implemented, thus making it harder for customers to secure credit services such as home loans.The legislation will take effect on 1 July 2010, and will enable financial institutions to...
Continue Reading • 27 Apr 2010
JLL launches five adjoining shophouses for tender
Property consultancy firm Jones Lang LaSalle has launched five adjoining shophouses along Upper Bukit Timah Road for tender.The asking price for the group of properties located near Bukit Panjang Plaza, the future Ten Mile Junction development and The Rail Mall, ranges between S$9.5 million and...
Continue Reading • 27 Apr 2010
More units at Marina Bay Suites coming out this week
Another batch of units at Marina Bay Suites will be launched by the project’s developer on Thursday. However, prices have yet to be finalized, according to sources.Unlike the initial batch of 90-odd units released late last year, these additional units are expected to be above the 46th...
Continue Reading • 27 Apr 2010
Singapore property market might be near its peak
The escalating prices seen in the local property market are not likely to come down anytime soon, although the market might be near its peak, said Mr. Song Seng Wun, an economist from CIMB-GK, during a panel discussion on Singapore's building and construction industry.According to Mr. Song,...
Continue Reading • 27 Apr 2010
Strata Act changes may put an end to lengthy en bloc spats
The proposed amendments to the Land Titles (Strata) Act, which was introduced in Parliament yesterday, may likely put an end to the long-drawn conflicts arising from en bloc property transactions. The changes are expected to take effect in June 2010.According to the Ministry of Law, the proposed...
Continue Reading • 27 Apr 2010
China implements stricter policy on second-home purchase
China has announced that it would take further measures to cool down its housing market amidst growing concerns over asset bubbles forming in Asia.Beijing will take a stricter view of whether homebuyers are buying a second home, said a report by Reuters.Homebuyers of a second home in China are...
Continue Reading • 26 Apr 2010
Figures show that property still has legs
Property has always been the “talk of the town” in Singapore, and has gained further attention given the continued strength of property prices. Some government measures to cool down the property market have not overly suppressed investors' sentiment.The property market in Singapore...
Continue Reading • 26 Apr 2010
Expo boosts Shanghai's dream of becoming world financial hub by 2020
Shanghai has commissioned a new landmark to be revealed during the World Expo, which will capture the city’s rising global ambitions – a replica of Wall Street's “Charging Bull”.The sculpture on Shanghai’s historic Bund riverfront is proposed to have a more vibrant...
Continue Reading • 26 Apr 2010
A steady start for Singapore shares
Singapore shares started on a steady note today, with the key Straits Times Index gaining 0.18 percent or 5.28 points at 2,993.77.In the broad market, gainers beat losers at seven to one in a volume of 84.9 million stakes valued at $56.3 million.Among the leading advancers included Haw Par,...
Continue Reading • 26 Apr 2010
Selling price of bungalows in Mountbatten area exceeds $1,000 psf
Transactions of landed homes in the Mountbatten area have been picking up in recent months, with a couple of bungalows on Wilkinson Road, Branksome Road and, most recently, Ramsgate Road changing hands at prices above $1,000 psf since the start of 2010.“Bungalows in the Mountbatten area are...
Continue Reading • 26 Apr 2010
Developers look for more sites
Property developers, who are keen to ride the buoyant market, are aggressively seeking more sites to replenish their depleting land banks.Some developers, like Far East Organization, have taken out advertisements in several publications to seek development sites of various sizes in the suburbs...
Continue Reading • 26 Apr 2010