UK mortgage holders unaware of their interest rates
Nearly three million mortgage holders in the United Kingdom are unaware of the interest rates that they are paying for their loans, according to a report.Research conducted by Post Office in the UK showed that 28 percent of the people in the country have no idea on the interest rate they are...
Continue Reading • 5 Mar 2010
Thailand will not renew property tax breaks
Thailand will not renew its real estate tax breaks after they expire at the end of March, as developers are returning to normal profit levels and the economy is recovering.According to officials, the incentives, including a cut in the mortgage registration fee, a reduction in the real estate...
Continue Reading • 5 Mar 2010
HK Land's net profit increased to US$1.64 billion in 2009
Hongkong Land Holdings reported that its net profit for 2009 had reached US$1.64 billion, compared to its US$109 million net loss in 2008.According to the property developer, the reasons behind the company’s achievement are the strong contribution from residential developments and...
Continue Reading • 5 Mar 2010
The Ascott set to open second Citadines property in Japan
The Ascott, a wholly-owned serviced residence business unit of CapitaLand, is set to open its second Citadines property in Japan on March 8.The launch of the new Citadines Kyoto Karasuma-Gojo follows the successful opening of Citadines Tokyo Shinjuku, the first Citadines serviced residence unit...
Continue Reading • 5 Mar 2010
Plans to develop retirement housing villages to be studied
Property developers in Singapore are already planning to develop retirement housing villages in zoned residential sites in the country.However, the government will first study a suggestion made by Nominated MP Laurence Wee that those interested in developing such retirement villages will be given...
Continue Reading • 5 Mar 2010
Santander cuts rates on its 80% mortgages in the UK
Santander has announced that it will cut rates on its 80 percent loan-to-value (LTV) mortgages to create new best buy deals.A 0.75 percent reduction will be set across its high LTV products, now offering a 3.25 percent two-year tracker, including a free valuation and cash-back on completion and a...
Continue Reading • 4 Mar 2010
Lend Lease hopes to grow its presence in Asia
Lend Lease Group, an international property firm, is hoping to grow its presence in Asia.According to Lend Lease, 313@somerset, its three-month old mall, has done better than expected, and it is looking for more investment opportunities in Singapore within the next 12 months.Since the...
Continue Reading • 4 Mar 2010
Prices of new luxury homes increase
Prices of new luxury home projects rose by 20-25 percent in 2009 and this could increase further by 10-15 percent this year, according to CB Richard Ellis.Meanwhile, rents of newly completed luxury homes, which declined 10.5 percent last year, could increase by 5-10 percent this year, said the...
Continue Reading • 4 Mar 2010
MP Inderjit Singh questions the government on the impact of PRs
During a recent parliamentary session, Mr. Inderjit Singh questioned the government on its liberal immigration policies, which has contributed to the escalating prices of HDB flats.“By bringing in too many people too quickly…the cost of living has gone up rapidly. The clearest...
Continue Reading • 4 Mar 2010
Waterscape at Cavenagh launching soon
Property developer Hiap Hoe Group will be launching its latest residential project – the Waterscape at Cavenagh.The 101,193-sq-ft freehold development project will occupy the former Le Chateau and Clemenceau Court site and it is just a five-minute walk to Orchard MRT station.The project...
Continue Reading • 4 Mar 2010
Developers gear up for more prime property launches
Property developers are preparing to launch more projects, particularly prime developments, in a booming real estate market driven by confident buyers on the back of a low interest rate environment and improving economy.Last month’s anti-speculation measures by the government are having...
Continue Reading • 4 Mar 2010
Home loan exit fees in Australia are increasing
Homeowners in Australia who are trying to refinance their mortgage, risk incurring an increasing number of exit fees, said one commentator.Anthony Keane, a finance writer for News Limited, said that fees were introduced by major lenders to discourage borrowers from switching loans.He quoted...
Continue Reading • 3 Mar 2010
Major tenants looking for trendy new office space
Singapore's improving office leasing deals, which began in July 2009 shows no signs of letting up. The good demand has persuaded some property consultants, that rentals of quality office space in the country’s financial district could be poised to perk up.The Infocomm Development Authority...
Continue Reading • 3 Mar 2010
No child in Singapore will be left homeless, says Dr. Balakrishnan
According to Community Development, Youth and Sports Minister Dr. Vivian Balakrishnan, no child in Singapore will be left without a home, and officers will intervene to ensure this if a family is in danger of losing their home. This is in response to a question raised in Parliament over the issue...
Continue Reading • 3 Mar 2010
Straits Trading set to develop 12 freehold bungalows at Chancery Lane
The Straits Trading Company’s property unit is set to develop a cluster of freehold bungalows in the prime area of Chancery Lane, as the mainboard-listed firm is acquiring Tertius Development, the original developer.The Chancery Five project will have 12 bungalow units located on a...
Continue Reading • 3 Mar 2010
Court gives green light for Koon Seng en bloc sale
The Koon Seng en bloc sale, which is comprised of nine pre-war terrace houses and Koon Seng House, a four-storey block of 24 apartments in Joo Chiat, can now go ahead with its sale.On Tuesday, the Court of Three Judges dismissed the appeal of Goh Teh Lee, the lone objector to the sale. It ruled...
Continue Reading • 3 Mar 2010
Calls made to review Singapore's housing policies
Though it was not addressed directly in the 2010 budget, many MPs have been expressing concerns about the cost of housing in Singapore.There have been several calls to review Singapore’s housing policies, including the rules that permit private property owners to purchase HDB flats and...
Continue Reading • 3 Mar 2010
HSBC increases its presence in the UK mortgage market
HSBC reported a pre-tax profit amounting to US$7.1 billion for 2009, and its market share of net new mortgage lending increased to 11 percent.HSBC had a new mortgage share of 9.5 percent as at June 2009.The bank’s annual result shows that the pre-tax profit is down by 24 percent, compared...
Continue Reading • 2 Mar 2010
Australian property sales hit a record A$1.03bn
Prices of Australian properties have seen a robust increase and show no signs of abating, said some analysts, after the weekly sales in one state hit a record A$1.03 billion (S$1.3 billion). According to the Real Estate Institute of Victoria, “the largest dollar volume of transactions ever...
Continue Reading • 2 Mar 2010
2010 Budget is a transformational Budget, says SM Goh
Senior Minister Goh Chok Tong said this year’s Budget is strategically important as it is a "transformational" Budget, although it may be seen as "unexciting" to some Singaporeans.He also said that the Budget aims to bring the economy to a higher level.Addressing an...
Continue Reading • 2 Mar 2010