Asian market surges as stronger US housing suggests economic recovery
The stock market in Asia closed higher on Wednesday after a gain in US housing, suggesting that the world’s largest economy is starting to pick up.Sydney, Seoul and Shanghai surged after major US indexes gained and home sales in November jumped 7.4 percent, above a predicted 2.5 percent...
Continue Reading • 24 Dec 2009
Analysts predict a more positive US property market outlook for next year
The US property market is expected to recover next year, as it moves closer to stabilization, according to the latest forecast.The 2010 property market in the US is projected to appreciate, showing the development of the improving trends in many markets in the US, according to 2010’s Best...
Continue Reading • 24 Dec 2009
GCB sales intensifying
High-net-worth individuals (HNWI), revving up the purchases of Good Class Bungalow (GCB) could have caused the GCB market to perk up. Around 20 GCB transactions with a worth value of over $300 million were seen in the action-filled month of July. Putting this in standpoint, Q1 2009 only had $27.5...
Continue Reading • 24 Dec 2009
Consultants observe slower pace in falling office rents
Property consultants believe the worst for falling office rents is over. Some even expect that space net take-up will be positive by this year’s last quarter if the country’s economy will continue to have a good performance.The analyses of Cushman & Wakefield for the mid third...
Continue Reading • 24 Dec 2009
Mass market homes still sufficient
For sale mass market homes throughout the island is sufficient, say property experts, referring to the properties with $1,000 per square foot (psf) or a bit higher.CB Richard Ellis (CBRE) states that aside from the upcoming launches, unsold units remain in other existing launches, including the...
Continue Reading • 24 Dec 2009
London’s top-end residential market ends 2009 on a high
Liam Bailey, Knight Frank’s head of residential research, has just presented the firm's Prime Central London Index for December 2009. “The top-end of the London residential market saw a remarkable revival during 2009. With a strong 2.1% growth in December, prices have now risen 13.8%...
Continue Reading • 23 Dec 2009
No developers yet to venture into developing retirement villages
The ageing population in Singapore indicates a rising need for better medical facilities and care for the elderly - not least of what would be a retirement village for the more independent-minded.Retirement communities or villages are huge businesses in countries like Australia, the US and in...
Continue Reading • 23 Dec 2009
Property sector in Vietnam to work on improving financial and legal frameworks
Enhanced financial and legal frameworks are needed if Vietnam’s emerging real estate market is to grow into a sustained property environment.Vietnam’s property sector will grow and attract investors next year, but several problems such as environmental pollution, rapid urbanization...
Continue Reading • 23 Dec 2009
Singapore shares ended 1.33% higher
Singapore shares ended 1.33 percent higher on Tuesday, with fund managers buying stocks for the year-end improvement, said an analyst.Singapore’s Straits Times Index gained 37.01 points to 2,823.82. Share volumes totalled to 1.21 billion with gainers leading losers 256 to 172."Window...
Continue Reading • 23 Dec 2009
GIC to pay A$260 million for retail stake in Perth
GIC Real Estate, the global investment arm in Singapore, will purchase from Dexus Property Group a half stake in a regional shopping centre in Perth, the Australian Financial Review reported.GIC will shell out A$260 million ($229 million) for the Whitford City property, making it the second...
Continue Reading • 23 Dec 2009
Time to invest in mass market properties in Asia
Despite the recent rise in property prices in Hong Kong and Singapore, Managing Director Tim Murphy of IP Global Ltd is still optimistic on the sector, particularly in mass market property.“If you want to make real money in real estate, you should be buying stuff which is at the mass market...
Continue Reading • 23 Dec 2009
Asian stocks closed mixed and HK property market hit
Asian markets ended Monday on a mixed note with major indexes posting reasonable moves in pre-holiday trade, as concerns over the cooling measures of the property market weighed on Hong Kong."We would expect the remainder of the week to see similar, small moves in Asian markets," said...
Continue Reading • 22 Dec 2009
Retail rents start to pick up
Retail rents in the prime Orchard Road and suburban malls are creeping up in the last quarter, after declining for 4 straight quarters. A report by DTZ Research showed the gross rents of prime first-storey retail space in Scotts and Orchard roads increased 1 percent to $39.70 psf per month, after...
Continue Reading • 22 Dec 2009
Mayfair Gardens up for en bloc sale
There are more signs of life in the en bloc market, with owners of Mayfair Gardens located in Rifle Range Road being the most recent to put their estate up for sale.Mayfair residents want $210 million or more for their 99-year leasehold plot, which accounts to around $857 per square foot of...
Continue Reading • 22 Dec 2009
Quest set to explore the Singapore market
Quest, a serviced apartment provider based in Australia is interested to break into the Asian market, beginning with Singapore. It has properties in Fiji, New Zealand and Australia.Paul Constantinou, chairman of Quest, said that Singapore is a ‘priority market’, with its ability to...
Continue Reading • 22 Dec 2009
Hong Leong unveils lowest HDB loan rates
Hong Leong Finance unveiled a new HDB loan package with the lowest rates in town.The latest offering by the finance company is aimed at one of the hottest segments in the market, with extreme interest in projects like the new flats to be constructed at Queenstown’s Dawson estate.Last week...
Continue Reading • 22 Dec 2009
Opening of Marina Bay IR delayed
The Marina Bay Sands Integrated Resort will open its first phase of operation by mid-April 2010, instead of February, as earlier announced.About half of the integrated resort, including the casino and most of the restaurant units, will open by the end of March. The entire $5.5 billion IR project...
Continue Reading • 22 Dec 2009
Han Seng Juan makes a handsome profit from GCB sale
Han Seng Juan, the former star stockbroker, is believed to be the seller of a good class bungalow (GCB) located in Astrid Hill that was sold in November for $25.75 million. The price translates to around $970 per sq ft on land area of more than 26,000 sq ft.The price is almost twice of what Mr....
Continue Reading • 21 Dec 2009
The lowdown on the Christmas decline
The performance of the Australian property market has fared well in 2009, based on the RP Data Rismark Monthly Home Value Index report. It also showed that most capital cities saw its property values increasing well above the previous peak. The national property values were 10 percent higher over...
Continue Reading • 21 Dec 2009
Showflats to remain open during the year-end holidays
The market for new homes is quiet, as potential buyers and developers take their time off for the holidays.“If you are going to sell one or two units now, you might as well close shop and wait till next year,” said Donald Han, managing director of Cushman & Wakefield....
Continue Reading • 21 Dec 2009