Australia's RBMS a cheaper source of home loans
Analysis done by the Australian Office of Financial Management showed that private investors are returning to the residential mortgage-backed securities (RMBS) market, and risk premiums in Australia are declining, lowering the cost for borrowers.During the peak of the global crisis, the federal...
Continue Reading • 29 Mar 2010
Collective sales market remains weak
The real estate market may be a hit with its new launches, but the intensity has yet to reach the collective sales market.The two residential sites released for sale in December last year are unlikely to find new owners. A bid launched in January for Mayfair Gardens at Rifle Range Road has ended,...
Continue Reading • 29 Mar 2010
Latest en bloc site put up for sale
Pender Court, an apartment complex at the foot of Mount Faber is the most recent en bloc site to put up for sale, and the sixth collective sale released since the start of 2010.While the number of en bloc sales for this year remains lower than the 2007 market peak, many analysts and market...
Continue Reading • 29 Mar 2010
16 terrace houses in Fort Road close to being sold
16 freehold terrace houses at Fort Road in the Tanjong Rhu area are close to being sold for around $86 million.Chip Eng Seng, a construction and property firm, is believed to have been granted an option to acquire the houses. However, the sale is still subject to approval from its...
Continue Reading • 29 Mar 2010
Government to explore ways to tie CPF to HDB flat purchases
The government is exploring ways on how it can further tie a person's CPF to the purchase and sale of a HDB flat, according to PM Lee Hsien Loong at a forum on securing Singapore's future.The move is aimed at reinforcing the message that property is an asset for one's old age.It is a growing...
Continue Reading • 29 Mar 2010
New mortgage loans in HK drop in February
New mortgage loans in Hong Kong drawn down in February declined 1.5 percent to 17.1 billion HK dollars, while new loan approvals slumped 10.1 percent to 26.6 billion HK dollars, according to the HK Monetary Authority.The decline in new loans approved was largely due to the reduction of 1.5...
Continue Reading • 26 Mar 2010
All units at 76 Shenton sold out in one day
Property developer Hong Leong Holdings has sold all 202 units at its 76 Shenton condo project in just one day.The one- and two-room units in the 99-year leasehold project were sold after a balloting exercise. The selling price for one-room apartments worked out to about $1,600 psf -$2,600 psf...
Continue Reading • 26 Mar 2010
Koon Holdings enters public housing market with $3.75-million ECIC acquisition
Koon Holdings has entered into the public housing market with the acquisition of ECI Corporation (ECIC) worth $3.75 million.Koon and JKM Engineers have jointly purchased ECIC from Jasper Investments.The sale and purchase agreement is valued at $5 million.Koon will have a 75 percent share in ECIC,...
Continue Reading • 26 Mar 2010
Singapore office property market stabilizing, says JLL
The office property market in Singapore is bottoming out and the declining rentals are now stabilising, according to data released by Jones Lang Lasalle.This is in contrast to the average Prime Grade A gross effective rent in the CBD area, which has declined by 0.6 percent on quarter to $7.75 psf...
Continue Reading • 26 Mar 2010
Government rebuts REDAS president's free market theory
The Ministry of National Development (MND) has issued a statement to rebut what Mr. Simon Cheong, president of Real Estate Developers' Association of Singapore (REDAS), had said on Wednesday.It has defended its Reserve Price system for state land tenders, and disagrees that it has constrained the...
Continue Reading • 26 Mar 2010
Luxury home prices set to bounce back this year
With the launch of "The Residences at W Singapore" at Sentosa Cove this weekend, there will be more options for home seekers in the high-end property market.Market watchers expect property developers to release more of such projects in the coming months, with luxury homes touted to be...
Continue Reading • 26 Mar 2010
Australia's AMP Bank and CUA cut mortgage rates
AMP Bank and Credit Union Australia have cut down their variable mortgage interest rates, a move that will encourage Australian homebuyers to compare home loans.According to a report by Smart Company, CUA recently announced a 25 basis point slash in its variable mortgage rates to 6.37 percent,...
Continue Reading • 25 Mar 2010
New Residential Price Index launched in Singapore
Singapore has a new price index, which provides information on the state of the residential property market in the country.The National University of Singapore's Institute of Real Estate Studies formulated the Singapore Residential Price Index (SRPI), the first such index by an academic...
Continue Reading • 25 Mar 2010
Jackie Chan purchases three units at Centennia Suites project
Hong Kong actor Jackie Chan, along with singer/songwriter friend Emil Chau have acquired properties in Singapore during their visit to the city state.The two known personalities purchased four apartment units at Lippo Group's Centennia Suites project amounting to more than $10 million. The four...
Continue Reading • 25 Mar 2010
All but one unit snapped up at the latest Reflections launch
The Reflections at Keppel Bay project is receiving overwhelming response in the property market, with 710 of the 740 units released at the 99-year leasehold project already sold out.At its latest launch, 29 out of 30 released units in tower block 2B were snapped up. The average selling price of...
Continue Reading • 25 Mar 2010
Singapore gears up for Smart Expo 2010
SMART Expo, a two-day Investment and International Property Expo, will be held at Suntec Singapore International Exhibition and Convention Centre (Hall 401) from 10 am to 7 pm on March 27 and 28, 2010.The free seminars, organized by SMART, will feature international property experts, who will be...
Continue Reading • 25 Mar 2010
REDAS president urges government to set private property free
Simon Cheong, the president of the Real Estate Developers' Association of Singapore (REDAS), has urged the government to allow the property market in the country to operate completely as a free market.Speaking during the launch of a new price index for private homes in Singapore, Mr. Cheong asked...
Continue Reading • 25 Mar 2010
Offset mortgages in the UK better for savings, says expert
Offset mortgages could help people to make their savings work in their financial interests to reduce their mortgage term, said Kevin Bray, an insight analyst at Defaqto. But he advised homeowners to choose carefully."For the right offset mortgage, look beyond the cheapest rate on offer. Look...
Continue Reading • 24 Mar 2010
US home sales drop in February
Sales of previously owned US homes dropped slightly in February, based on a report by the National Association of Realtors (NAR). Sales fell 0.6 percent month-over-month to an annual rate of 5.02 million units, the sales’ third straight month of decline, according to the trade group....
Continue Reading • 24 Mar 2010
Wee Hur secures $103.6-million CMT project
WEE Hur Holdings has secured a $103.6-million project from Singapore property investment giant CapitaMall Trust, to reconstruct Jurong Entertainment Centre.The project involves building a five-storey shopping and entertainment complex with a three-level basement.The Olympic-size ice-skating rink...
Continue Reading • 24 Mar 2010