Cheung Kong looks for more land sites in Singapore
Hong Kong property developer Cheung Kong Holdings is looking for more commercial and residential sites to purchase in Singapore, said Justin Chiu, the company’s executive director.“We are looking at a few pieces of land,” said Mr. Chiu. “The whole market (in Singapore) is...
Continue Reading • 24 Mar 2010
Government releases four residential sites in one go
The government has released four more residential sites for sale, which can accommodate more than 1,200 private home units.The Urban Redevelopment Authority (URA) said yesterday that the potential land supply from the government's land sales programme, as well as the supply from projects in the...
Continue Reading • 24 Mar 2010
Singapore and Hong Kong climb to top 5 on annual luxury home price-rise list
From the bottom five on the annual list measuring the rise in luxury home prices, Singapore and Hong Kong have climbed to the top five, based on the latest figures released by property consultants Knight Frank International for 2009.According to the firm, this reflects the attraction of prime...
Continue Reading • 24 Mar 2010
Asian stocks mostly up in early Tuesday trading
After gains on Wall Street on Monday, Asian share markets were mostly higher early on Tuesday. The safe passage of the US healthcare legislation in the House of Representatives late on Sunday also lifted the market sentiment.Singapore's Straits Times Index edged up 0.7 percent or 20.02 points to...
Continue Reading • 23 Mar 2010
HKMA warns against mortgage interest rates risk
The Hong Kong Monetary Authority (HKMA) has warned several banks against the risk of interest rates in their mortgage portfolios. According to HKMA’s half-yearly report, net interest margins of local lenders narrowed to a record low 1.48 percent in December, laying pressures on their...
Continue Reading • 23 Mar 2010
Australian office sector to recover next year, says JLL
Vacancy rates of office space in Australia are likely to grow further due to new supply and should peak by the last quarter of the year, setting a stage of recovery in 2011, according to research conducted by Jones Lang LaSalle.Office property yields peaked at 7.78 percent during the third...
Continue Reading • 23 Mar 2010
Ellipsiz to sell stake in Joo Koon Crescent building for $4.4m
Ellipsiz, an engineering and advanced packaging solutions provider, has agreed to sell its stake in a building at 12 Joo Koon Crescent for $4.4 million.The company is expected to register a net profit of $1.7 million from the sale’s proceeds.According to Ellipsiz, the proposed sale will...
Continue Reading • 23 Mar 2010
Three project launches expected this week
Property developers in Singapore continue to launch new residential projects. A joint venture project – TID Pte Ltd – between Japan's Mitsui Fudosan and Hong Leong Group is expected to preview its 65-unit Nathan Suites at Nathan Road within the next two weeks.The 24-storey freehold...
Continue Reading • 23 Mar 2010
Retail rents expected to rise in H2 2010
According to DTZ Research, retail rents across Singapore were steady for the first three months of the year. However, analysts said that retail rents could increase moderately in the second half of 2010, as economic conditions are showing signs of improvement.Tourists and shoppers are boosting...
Continue Reading • 23 Mar 2010
First time UK homebuyers still need to find huge deposits
There have been reports circulating around in the UK mortgage market that the number of mortgage deals aimed for first time homebuyers is increasing. Figures have also shown that about 400 mortgage packages are now available for borrowers with a 15 percent deposit, which is now considered to be...
Continue Reading • 22 Mar 2010
Real estate is China's modern-day god of fortune
Zhou Yafen, 59, a retiree, saw crowds “rushing madly to buy apartments” in Hainan province a day after the government announced its plan to transform the island into a world-class tourism paradise.“Property prices shot up like an arrow,” she said. She owns a 125-sq-m flat...
Continue Reading • 22 Mar 2010
New REIT hoping to fetch $400 million
Cache Logistics Trust has lodged its listing prospectus with the Monetary Authority of Singapore, unveiling that the new REIT is hoping to fetch around $400 million through its IPO.Based on the prospectus, Cache is offering 474.2 million units at 84-88 cents each.Depending on the issue price, an...
Continue Reading • 22 Mar 2010
Heartland condos selling at more than $1,000 psf
The 99-year leasehold condominium project called The Vission, which is located in the quiet suburbs of West Coast Crescent, was launched at a whopping price of between $1,000 to $1,200 psf.However, at least 160 buyers laid down their money for the mass market project that comes with quality...
Continue Reading • 22 Mar 2010
Singapore investors eyeing foreign properties
The property trends amongst Singapore investors seems to have spread to the overseas market recently. The favourable exchange rates and the forecasted high rental yields, as well as the lure of owning luxury properties in cities like New York and London have attracted local property investors to...
Continue Reading • 22 Mar 2010
UK mortgage lending climbs up but remains subdued
Mortgage lending in the UK made a slight recovery in February, edging up by six percent compared to the previous month, according to latest figures from the Council of Mortgage Lenders (CML).Gross mortgage lending, which ignores loan redemptions, climbed to £9.2 billion in February compared...
Continue Reading • 19 Mar 2010
Universal Studios theme park opens in Singapore
The first Universal Studios theme park in Southeast Asia opened its doors to enthusiastic visitors in Singapore on Thursday.Hundreds of visitors, including foreigners, lined up to be among the first into the 20-hectare (50-acre) movie theme park in Singapore, which is part of the US$4.4-billion...
Continue Reading • 19 Mar 2010
HK listed firm to buy luxury house for near-record price
A Hong Kong listed firm said it plans to purchase a luxury house for a near-record price in the city, a month after the HK government introduced measures to cool the city's property market.According to the electronics components maker Sino-tech International Holdings, it has agreed to acquire the...
Continue Reading • 19 Mar 2010
Condo project in Shenton Way a hit
Although the preview will not be until next week, buyers are already showing great interest in 76 Shenton, a condominium project located in Singapore’s Central Business District.According to a source, several property agents are now collecting cheques from buyers for the 99-year leasehold...
Continue Reading • 19 Mar 2010
S-REITs weighed down by property supply and modest economic recovery
Singapore real estate investment trusts (S-REITs) are likely to suffer from modest economic growth and a greater supply of new commercial properties, said the ratings agency Moody’s.According to Moody’s latest report, it expects the fundamental prospects for the sector to remain...
Continue Reading • 19 Mar 2010
US home loan applications drop even as loan rates sink
US home loan applications declined last week despite the lowest mortgage rates in more than three months, said the Mortgage Bankers Association, suggesting a long haul before the housing market recovers.Rough winter weather has likely tapered off the demand, but high unemployment and...
Continue Reading • 18 Mar 2010