First sale site in Jurong Lake District up for tender
The first site for sale at Jurong Lake District, one of Singapore’s latest commercial hubs, will be launched for tender in two weeks.The Urban Redevelopment Authority (URA) said that a developer has committed to bid at least $350 million for the 1.9-hectare land parcel.This is the first...
Continue Reading • 9 Apr 2010
Competition in the Australian mortgage market returns
Australian Finance Group, the biggest mortgage broker in Australia, said that refinancing had hit a record high of 37.2 percent of all mortgages arranged.AFG’s latest mortgage index showed that lending by major banks such as National Australia Bank, Westpac, ANZ and the Commonwealth Bank,...
Continue Reading • 8 Apr 2010
Bad timing for Toh Tuck Apartment collective sale
A group of homeowners are hoping to cash in on the property market by launching an en bloc sale.Toh Tuck Apartment, which is located off Upper Bukit Timah Road, has been put up for sale by tender. The freehold residential site comprises 13 apartment units, each averaging 223 sq m.With an asking...
Continue Reading • 8 Apr 2010
Developers unlikely to rush into en bloc market yet
As the Singapore property market continues to heat up, more projects are expected to be released for collective sale this year.This is good news for all developers eager to spice up their land banks, but one expert says that they are not rushing into the en bloc market just yet.“The problem...
Continue Reading • 8 Apr 2010
Evergrande shares gain 8.5% on higher sales
Evergrande Real Estate Group Ltd, the second biggest developer in China in terms of sales, has gained 8.5 percent in Hong Kong after reporting that its Q1 sales more than doubled.The stock closed at HK$3.59, its highest price since Feb 3.According to Kenny Tang, an analyst from Redford Asset...
Continue Reading • 8 Apr 2010
Hougang Avenue 2 site up for tender
The Urban Redevelopment Authority (URA) will launch a residential site at Hougang Avenue 2 for tender, after it accepted an application from a developer with a minimum bid of $109.9 million, or $241 psf ppr.The 99-year-leasehold site is on the Reserve List of the government land sales (GLS)...
Continue Reading • 8 Apr 2010
MBFC Tower 2 almost fully leased
Marina Bay Financial Centre (MBFC) Tower 2 is almost fully leased, after an existing tenant took on more space and a new one came on board.Prudential Asset Management in Singapore will be leasing one and a half floors at the building, which works out to about 37,000 sq ft of space. It will move...
Continue Reading • 8 Apr 2010
Banks looking to snatch home loans market from smaller lenders
Big lenders in Singapore are lowering their interest rates to beat off competition from each other and smaller financial institutions in a sizzling home loans market.Financiers had some of the lowest interest rates at the start of the year, but three months on, many banks have also started...
Continue Reading • 7 Apr 2010
Housing market weakness a small factor in US inflation drop
The drop in the US inflation rate since mid 2008 is not just a narrow indication of a housing market weakness, but a sign of a broad economic slack, according to several economists from the Federal Reserve Bank of San Francisco.The result came as Fed policy-makers consider how much longer the...
Continue Reading • 7 Apr 2010
HDB releases Hougang land site for tender
HDB is releasing another residential site – Hougang S13 – at Tampines Road for sale by public tender today.The tender for the 2,662.2-sq-m land site, which is proposed for residential housing project, has a minimum bid price of $6.5 million, and will close at noon on May 6.Nestled in...
Continue Reading • 7 Apr 2010
Unexpectedly high bids for Yishun industrial site
A 60-year leasehold industrial site at Yishun Avenue 6 (Parcel 1) has received overwhelming response from property developers.Seven parties had expressed their interest on the tender by the time it was closed yesterday. OKH Management submitted a top bid of $71 psf ppr or $27.2 million, which is...
Continue Reading • 7 Apr 2010
Value of property investment deals drop 8.5% to $2.64bn
The value of property investment deals during the first three months of the year fell 8.5 percent quarter-on-quarter to $2.64 billion, after three straight quarters of growth.Based on figures gathered by DTZ Research, investments in the industrial segment stood out in Q1 2010 compared to last...
Continue Reading • 7 Apr 2010
No signs of recovery for US commercial mortgage market
Nearly half of commercial mortgage lenders in the United States might be underwater at the end of 2010, as no positive signs of recovery have been seen in the sector during the first quarter of the year.The delinquency rate on US commercial mortgage-backed securities is rising and might hit a...
Continue Reading • 6 Apr 2010
Perennial to launch Singapore and China mall funds
Perennial Real Estate, a company established by the former head of the shopping mall business of CapitaLand, plans to launch property funds that will acquire malls in Singapore and China to tap the growing consumer demand in the region.Mr. Pua Seck Guan, who left CapitaLand in 2008, is returning...
Continue Reading • 6 Apr 2010
Ascott launches Somerset Riverview, Chengdu
The Ascott Limited, a listed serviced residence unit of CapitaLand, yesterday launched a new property in China called the Somerset Riverview, Chengdu.Acquired through the Ascott China Fund, the 200-unit development will begin its operations this month. It will increase Ascott's portfolio in the...
Continue Reading • 6 Apr 2010
UOL to preview Waterbank at Dakota project this week
As property launches continue to buzz, UOL Group is anticipated to preview the Waterbank at Dakota condo project this week. The asking price for this project ranges from above $1,000 psf to around $1,300 psf.Over the weekend, CapitaLand sold 110 units at The InterLace in the Alexandra Road area...
Continue Reading • 6 Apr 2010
Roxy-Pacific joins consortium to acquire Marina House for S$148m
A consortium led by Roxy-Pacific Holdings, a homegrown specialty property and hospitality group listed on the SGX Mainboard, has acquired the Marina House at Shenton Way for S$148 million.The deal was done through its wholly-owned subsidiary RL Properties, which has formed a group with four other...
Continue Reading • 6 Apr 2010
Singapore jumps two spots in office costs ranking
Singapore has climbed two notches on the latest bi-annual list of the most expensive office locations in the world.However, according to a report released by Colliers International, the country’s competitiveness in office occupancy costs continued to improve, as the gap between rental rates...
Continue Reading • 6 Apr 2010
Beware of increasing interest rates
Home prices in the mass market segment have exceeded the previous 2008 peak.However, property consultancy firm DTZ said that these homes are still considered affordable, as home loan interest rates remain at a record low.According to Ms. Chua Chor Hoon, research head of DTZ in South-east Asia,...
Continue Reading • 5 Apr 2010
Colonial buildings along Stamford Road up for sale
The government will soon launch the iconic stretch of colonial buildings along Stamford Road for sale.Capitol Building, Stamford House and Capitol Theatre are part of a huge parcel of land that will go on sale in about two weeks, after a property developer committed to put in a bid of at least...
Continue Reading • 5 Apr 2010