Commercial property investments continue to soar in Asia-Pacific
Commercial property investment deals in the Asia-Pacific region continued to grow in the first three months of the year, hitting US$38.6 billion, up from US$28.2 billion during the last quarter of 2009, according to a report by DTZ.DTZ said that the increase was attributed to better economic...
Continue Reading • 20 Apr 2010
URA to gather feedback for Concept Plan 2011
The Urban Redevelopment Authority (URA) will organize two public forums in May to gather feedback for the upcoming Concept Plan 2011.Earlier, URA formed two focus groups to consider issues that will shape the environment of Singapore in the coming years. The focus groups have met over the past...
Continue Reading • 20 Apr 2010
Slower April home sales not deterring launches
Home sales slowed in April after a strong showing a month ago. However, property developers haven't been deterred, and plan to launch more residential projects this weekend.In March, 1,761 new private homes were sold – a 47 percent month-on-month increase; however, market watchers said that...
Continue Reading • 20 Apr 2010
Commercial banks in China can say NO to third-home loans
Commercial banks in China can now refuse borrowers who are purchasing their third homes in areas severely affected by increasing property prices.The new measure, which some analysts believe could cool down China’s sizzling property market, was issued by the State Council, the country's...
Continue Reading • 19 Apr 2010
Asian property investors expect recovery by Q4
Most of the property investors in Asia reckon that their domestic markets are already at or near the bottom of the property clock and expect the markets in the region to recover by Q4 2010.Meanwhile, investors in Latin America, Canada, and Eastern and Western Europe expect recovery by the first...
Continue Reading • 19 Apr 2010
CCT posts $54.3 million distributable income for Q1
CapitaCommercial Trust has recorded a distributable income of $54.3 million for Q1 2010, up 19.7 percent from the same period last year.CCT’s occupancy rate also increased to 95.1 percent in the first quarter from 94.8 percent in the fourth quarter last year. The committed occupancy rate of...
Continue Reading • 19 Apr 2010
CapitaLand acquires controlling stake in StorHub brand
Property giant CapitaLand has forked out some $39.2 million to buy a majority stake in the fast-growing, self-storage business of Hersing Corporation.The two firms said that they have set up a joint venture (JV) company – 38 percent owned by Hersing and 62 percent owned by CapitaLand...
Continue Reading • 19 Apr 2010
30-year mortgage rates in the US drop to 5.07%
Mortgage rates in the US fell this week, after a month-long increase that coincided with the Federal Reserve’s ending of home loan debt purchases.Rates of 30-year fixed mortgages fell 5.07 percent for the week that ended April 15, from 5.21 percent, said mortgage finance company Freddie...
Continue Reading • 16 Apr 2010
K Hotels add Quincy Hotel Singapore to its collection
K Hotels, the voice of knowledge for independent hotels, has announced that Quincy Hotel in Singapore is the newest member to its properties. Located near Orchard Road – Singapore’s retail and entertainment hub – the Quincy Hotel offers innovative design and an all-inclusive...
Continue Reading • 16 Apr 2010
Tightening of Singdollar benefits property buyers
Property buyers can take advantage of falling interest rates, brought about by the tightening of the Singapore dollar, which attracts capital influxes.After the Monetary Authority of Singapore (MAS) appreciated the local unit to stem inflationary pressures, the key three-month Sibor (Singapore...
Continue Reading • 16 Apr 2010
Private home sales sizzle despite cooling measures
The government measures to cool the real estate market have not deterred the enthusiasm of home buyers. Property developers sold 1,761 private homes in March alone – up by 47 percent from February’s 1,202.According to the latest figures released by the Urban Redevelopment Authority...
Continue Reading • 16 Apr 2010
Property investment sales climb 18 times higher in Q1, says CBRE
Property consultancy CB Richard Ellis (CBRE) said real estate investment sales for the first quarter of 2010 increased to S$4.87 billion.This was 18 times higher than the S$273.8-million total transactions posted in the same quarter last year.CBRE said in its latest report that the rapid sales of...
Continue Reading • 16 Apr 2010
Exclusive HLF loan rates for CDL's Sentosa project
Hong Leong Finance (HLF) is offering an exclusive financing package, with rates from 0.98 percent a year, to buyers of The Residences at W Singapore Sentosa Cove.City Developments Ltd (CDL), a unit of Hong Leong Group, is developing the 228-unit luxury project.According to HLF, its home loan...
Continue Reading • 15 Apr 2010
Singapore economy made a remarkable recovery, says PM Lee
Prime Minister Lee Hsien Loong stressed that the economic condition of the country has made a remarkable recovery from the previous year, and he expects a good year ahead.The economic rebound from the downturn exceeded expectations, added PM Lee, reacting to the strong economic performance of the...
Continue Reading • 15 Apr 2010
Global property marketing course to be launched in Singapore
The Singapore Institute of Surveyors and Valuers, along with Singapore Accredited Estate Agencies will launch a Global Real Estate Specialist course next month.The course is part of a programme for real estate practitioners who want to specialize in foreign markets, particularly in the US, UK,...
Continue Reading • 15 Apr 2010
AustraLand acquires Northshore Hamilton land site
AustraLand, CapitaLand's Australian unit, has purchased a 1.8 hectare land parcel at a site in Northshore Hamilton in Queensland, Australia.The acquisition price will be a combination of an upfront payment worth US$11.1 million and a revenue share through the life of the project.The purchase...
Continue Reading • 15 Apr 2010
CapitaMalls Asia posts strong Q1 profit
CapitaMalls Asia (CMA) has reported a net profit of $96.8 million for the first quarter of the year – higher than last year’s $10.3 million – as the mall operator saw higher rental income from its majority-owned malls and recorded profits from the units sold in The Orchard...
Continue Reading • 15 Apr 2010
OUB Centre Ltd announces major new tenant for One Raffles Place
OUB Centre Limited has announced the signing of a lease agreement that will see Synergyinthesky Pte Ltd as a major new tenant to operate its viewing gallery, as well as Singapore's highest rooftop restaurant and bar at its One Raffles Place commercial tower.The 10-year tenancy will see the taking...
Continue Reading • 15 Apr 2010
UK mortgage lending jumped 12% in February
January was a tough month for mortgage lending in the UK, as it was affected by severe winter weather and the end of the stamp duty holiday in December.Mortgage advances, which is the actual amount given to a buyer, increased by 50 percent in February, but the number of remortgage loans declined...
Continue Reading • 14 Apr 2010
More choices for buyers in the housing market
More new housing units will be added to the market, giving home buyers more choices. HDB will put two residential sites in Sembawang and Sengkang up for sale today.It will also put two other sites in Yishun and Punggol on the Reserve List for public tender in early May.The sites are expected to...
Continue Reading • 14 Apr 2010