Luxury home prices in Singapore are no match for Hong Kong's
A bungalow at Ocean Drive was sold for nearly $30 million in October, while a duplex house in Hong Kong, which is about one-third the size, was sold for as much as three times the price of the bungalow.Luxury-home prices in Singapore are no match for Hong Kong’s due to the increasing number...
Continue Reading • 4 Feb 2010
CapitaMalls Asia sees 235% jump in its 2009 net profit
The net profit of CapitaMalls Asia in 2009 increased 235 percent to $388 million on-year.The increase in net profit came mostly from the China market, said CapitaMalls Asia in its first full-year results. It added that the recent move by the Chinese government to tighten credits also helped boost...
Continue Reading • 4 Feb 2010
Industrial building sold for $27.5m in first en bloc sale this year
The real estate en bloc sale market got an early boost after a freehold three-storey industrial terrace factory building located at No. 6 Jalan Ampas, off Balestier Rd, was sold to a private developer for $27.5 million.The private developer is said to be an experienced player in the industrial...
Continue Reading • 4 Feb 2010
Government to launch more residential sites between February and April 2010
Under the Government Land Sales (GLS) programme, the Singapore government will launch five residential sites for sale through public tender in the first half of 2010, between the months of February and April.According to the Urban Redevelopment Authority (URA), another 18 residential sites are on...
Continue Reading • 4 Feb 2010
Singapore stocks may go down
In three straight sessions, the Singapore stock market has closed lower, giving away 1.2 percent or more than 35 points along the way. The Straits Times Index rests just above the 2,720-point plateau, but now investors are eyeing for a solid rebound when the market trades today. The global...
Continue Reading • 3 Feb 2010
UK home loans remain steady, says Bank of England
The number of loan approvals for homebuyers in the UK dropped to 59,023 in December from 60,045 in November last year, but remained high compared to the 55,004 loans for the last six months, according to the latest figures from the Bank of England.Remortgaging approval has also increased by...
Continue Reading • 3 Feb 2010
Singapore's Alpha to purchase China property from Morgan Stanley
According to anonymous sources, Morgan Stanley’s real estate investment arm is in final negotiations with a unit of Singapore's Keppel Land for the sale of an apartment complex in China.The property’s overall value is projected to be around 900 million yuan ($130 million). The total...
Continue Reading • 3 Feb 2010
Real estate billionaire Ng Teng Fong dies
Property tycoon Ng Teng Fong, who was the chairman of Far East Organization, has died. He was 82 years old.A statement from Far East Organization said that on January 23, Mr. Ng suffered a brain haemorrhage and was taken to the hospital where he underwent an operation.Mr. Ng was ranked by Forbes...
Continue Reading • 3 Feb 2010
URA launches residential site in Tampines for public tender
The Urban Redevelopment Authority (URA) has launched a residential site located at Tampines Avenue 1/Avenue 10 for sale through public tender.Under the confirmed list of the Government Land Sales (GLS) Programme, the parcel of land is the fourth residential site to be launched for sale in H1...
Continue Reading • 3 Feb 2010
Number of mortgage loans in HK in negative equity drops
The number of residential mortgage loans (RMLs) in negative equity in Hong Kong fell 44 percent from 835 cases in September to 466 cases in December. According to data released by the Hong Kong Monetary Authority, the said decrease in RMLs was largely due to the increase in the city's property...
Continue Reading • 2 Feb 2010
Far East is January's top seller, MCL and Lippo may release some units
Developers have made a good start to 2010, selling more than 1,000 private homes in January. However, their launch machinery is still well oiled for more roll-outs in the coming months.Later this week, Lippo is expected to preview Centennia Suites on the former Kim Seng Plaza site, diagonally...
Continue Reading • 2 Feb 2010
Tanjong Pagar - Singapore's next waterfront city
Singapore’s next waterfront city has been identified - Tanjong Pagar. This news was announced even though the iconic Marina Bay has not yet been completed.The area is currently home to cranes and rows of containers which are waiting to be loaded into the ships at one of the busiest ports in...
Continue Reading • 2 Feb 2010
Australia's mortgage market remains under pressure
The largest mortgage broker in Australia said homebuyers are now abandoning the housing market, as interest rates climb up. This following the decline of its sales last month to a five-year low.AFG, an Australian broker with a 10 percent market share, said a total of $1.5 billion worth of loans...
Continue Reading • 1 Feb 2010
A terrace house for $500,000?
Mr. He, who refused to reveal his full name, purchased a double-storey terrace house in Jalan Chempaka Kuning for $600,000 six years ago.The 72-year-old retiree said that just a few months ago, he rejected a $600,000 offer for his house, which is about 2,200 square feet.One property agent said...
Continue Reading • 1 Feb 2010
NSP intends to contest election over Singapore's housing issues
The National Solidarity Party (NSP) said it intends to engage itself in a debate with National Development Minister Mah Bow Tan regarding the housing issues in Singapore.Goh Meng Seng, the Secretary General of NSP said it wants to contest the General Election in Tampines over the policy decision...
Continue Reading • 1 Feb 2010
Retirement fears for Singaporean after paying for over-priced flat
A Singaporean by the name of Kang Choon Tian has written to the Straits Times Forum expressing the fears, concerns and worries of some Singaporeans on increasing HDB flat prices – that they may not have enough money left in their CPF to spend for their retirement.Mr. Kang disclosed that he...
Continue Reading • 1 Feb 2010
Allgreen Properties sells 54 units at Holland Residences
Allgreen Properties has sold 54 units at its Holland Residences condo at Taman Warna, which was released this week. The average price for the 68 units released was $1,625 per square foot (psf), but this was weighed down by private enclosed spaces at the ground-floor of the five-storey freehold...
Continue Reading • 29 Jan 2010
MM Lee promises to
Minister Mentor Lee Kuan Yew became the “first minister to put a time line on the Government’s pledge since last year to reduce the intake of foreign workers." This is despite his claims that he is “not doing much work except forecasting.”“The next five years,...
Continue Reading • 29 Jan 2010
Australian Government plans to invest in RMBS
The Australian government will invest around US$3.06 billion (A$3.4 billion) in Residential Mortgage-Backed Securities, which was sold by five lenders, to stir up home-loan competition.Liberty Financial Pty Ltd., AMP Ltd., Firstmac Ltd., Resimac Ltd., and Members Equity Bank Pty Ltd. will obtain...
Continue Reading • 29 Jan 2010
Phase 2 opening of Circle Line set to increase property prices
The launch of Phase 2 of the Circle Line in April is something that nearby residents will look forward to. Those who are considering renting or selling their homes are set to benefit from this as well.According to real estate agents, the opening of the 11 new stations along the Circle Line could...
Continue Reading • 29 Jan 2010