Units at Amaryllis Ville going above $1,200 psf
The transaction prices of units at Amaryllis Ville along Newton Road have increasingly reached the $1,000 psf level since June last year.In January, prices at the 311-unit twin-tower condo project came close to the 2007 peak of $1,514 psf, when a 656-sq-ft unit was sold for about $1,371 psf or...
Continue Reading • 5 Apr 2010
Private property prices defy government's cooling measures
The private homes market in Singapore continued to resist the government’s cooling measures, recording another quarter of price increases.URA’s flash estimates showed that the private price index of private residential properties for Q1 rose to 174.2 points. This is 5.1 percent higher...
Continue Reading • 5 Apr 2010
Major developers facing depleting landbanks
Major property developers, who were caught off guard by last year’s robust home sales, are now faced with fast depleting landbanks.Based on research compiled by property consultancy firm DTZ, half of the 16 major developers in Singapore had less than 1,000 residential units left in their...
Continue Reading • 5 Apr 2010
Mortgages - Applications from US rise by 1.3%
Mortgage applications in the United States increased 1.3 percent, said the Mortgage Bankers Association.The industry group also said that the Market Composite Index, which measures the mortgage loan application volume, rose to 1.3 percent on a seasonally adjusted basis from the previous week,...
Continue Reading • 1 Apr 2010
Indonesia now allows foreigners to own a property
Indonesia will now allow foreign buyers to purchase property in the country and own bigger shares in health-care firms, as it completes a review of investment rules, according to the country's investment coordination agency.Gita Wirjawan, chairman of the Investment Coordination Board of...
Continue Reading • 1 Apr 2010
Singapore Real Estate - Economy on the upturn
The Singapore property market has made an impressive recovery over the past year. Prices of mass-market homes in the residential sectors have exceeded the 2007 peak, with predictions that the luxury segment this year will reach the record highs of 2007.Things are also going well in the office...
Continue Reading • 1 Apr 2010
Singapore Property - Bank lending jumps further
Singapore bank lending has expanded in February for the fourth straight month, amidst growing confidence amongst banks and borrowers on the economic outlook.According to the latest estimates from the Monetary Authority of Singapore, total bank lending in the Singapore-dollar increased by 0.5...
Continue Reading • 1 Apr 2010
Singapore HDB - Upgraders out of the action in Q1 2010
Public housing upgraders made up two-thirds of private home buyers in the country in 2009.However, they were notably out of the brisk action in Q1 2010, which saw around 4,000 private residential units snapped up – more than twice the 1,860 units sold in the previous quarter.Several...
Continue Reading • 1 Apr 2010
Singapore Properties - Office and industrial markets show signs of stabilizing
The office and industrial property markets in Singapore are showing signs of improvement.Property consultancy firm DTZ Research said that office occupancy rates have improved in the first quarter of 2010. The average office occupancy rate in the country rose 0.7 percentage-point on-quarter to...
Continue Reading • 1 Apr 2010
Competition in the Australian mortgage market heating up
The improving funding markets in Australia are stirring up competition in the country's mortgage market, according to the Reserve Bank.Assistant governor Guy Debelle said that alternative funding sources, like securitisations, are beginning to emerge for smaller banks and non-bank lenders, and...
Continue Reading • 31 Mar 2010
Stamford Land to sell Australia tower for A$140m
Stamford Land Corporation is selling its Grade A office tower in Perth's central business district for about A$140 million (S$179 million).The 13-storey Dynons Plaza at Hay Street in Australia is now under construction and Stamford Land is “gearing up to place the asset on the...
Continue Reading • 31 Mar 2010
Property Investment - Colliers tender for freehold industrial site
Colliers International, a property consultancy firm, has launched the tender of a 32,544-sq-ft freehold industrial site at 21 Kim Keat Road, with an asking price of $42 million.The asking price works out to $734 psf ppr, inclusive of a possible development charge of $25 million.The site is...
Continue Reading • 31 Mar 2010
Condominium - $900K offer for Bishan EC unit
An executive maisonette unit in Bishan has been put up for sale at around $950,000, according to a report. One buyer has expressed interest in purchasing the unit and has offered $900,000.Based on the report, the asking price for the EM unit is $170,000 above the cash over valuation (COV). The...
Continue Reading • 31 Mar 2010
Property Sale - URA tender at Changi Road North / Flora Drive
The Urban Redevelopment Authority (URA) has launched a residential site at Upper Changi Road North / Flora Drive for public tender, with a minimum bid price of $82 million. The 30,678.7-sq-m land parcel is situated within an established residential estate in the Pasir Ris area with condominiums...
Continue Reading • 31 Mar 2010
New Homes for Sale - Robust demand in Q1 2010
Demand for new private homes during the first quarter of 2010 more than doubled compared to that in Q4 2009, according to a new report. Nearly 4,000 new units changed hands in the first three months of the year, compared to only 1,860 in the previous quarter.According to CB Richard Ellis (CBRE),...
Continue Reading • 31 Mar 2010
UK mortgage approvals drop to nine-month low
Mortgage approvals in the United Kingdom dropped, as expected, to a nine-month low last month, adding to signs that credit constraints are delaying the recovery of the UK housing market.According to the Bank of England (BOE) yesterday, lenders granted 47,094 loans to purchase homes compared with...
Continue Reading • 30 Mar 2010
Ascott wins contract to manage serviced residence in Vietnam's fourth largest city
The Ascott, a wholly-owned serviced residence business unit of CapitaLand, said that it has won a contract to manage a serviced residence in Danang, the fourth largest city in Vietnam.The contract was awarded by the Korea Investment and Development Company, a property group that specializes in...
Continue Reading • 30 Mar 2010
YTL Corp working to double its sales for H1 2010
YTL Corp, a Malaysian infrastructure conglomerate, has said it is working to double its 2010 sales from 2009’s US$2.6 billion.The firm stated that it is confident in achieving a 20 percent growth on its profits and sales over the next 10 years. It added that the improving economic condition...
Continue Reading • 30 Mar 2010
60 units at Goodwood Residence sold over the past two weeks
Malaysian tycoon Quek Leng Chan of GuocoLand has sold 60 units at the freehold Goodwood Residence project along Bukit Timah Road over the past two weekends, with prices ranging from $2,355 psf to $2,555 psf.According to statutory filings of Guoco-Land to the Singapore Exchange, Mr. Quek picked up...
Continue Reading • 30 Mar 2010
Mapletree acquires industrial property in Tokyo
Mapletree Investments has acquired IXINAL Monzen-Nakacho Building, an industrial property in Tokyo, from Itochu Corp, Japan.The property is a five-storey light industrial building that houses an operations cum data centre, information systems development and corporate headquarters.However,...
Continue Reading • 30 Mar 2010