$500 billion worth of US property values wiped off this year
About $500 billion has been wiped off the US residential property values this year, but this figure is less than the 2008 values. Research shows that almost one in three markets has seen price increases this year.The recent Zillow Real Estate Markets Report showed that losses slowed significantly...
Continue Reading • 14 Dec 2009
Singapore leasing activity shows signs of recovery
The Singapore office market has experienced some recovery since its dull start this year.Although office rents are still expected to fall further in 2010, but at a much slower pace compared to the past 15 months, a recent unexpected rise of leasing activity has created speculation about office...
Continue Reading • 11 Dec 2009
New head picked for property agent monitoring agency
The Ministry of National Development (MND) picked Chionh Chye Khye, the current executive director (designate) with MND, to head a new government agency that will be set up next year to regulate Singapore’s property agents.Mr. Chionh, before joining the MND in 2006, was the chief executive...
Continue Reading • 11 Dec 2009
Global property prices recover, according to a survey
Property prices in Singapore recorded the highest rise globally in Q3 2009, according to the latest Global House Price Index from Knight Frank.Although two-thirds of the countries covered in the survey showed an increase in property prices, year-on-year property prices in more than half of the...
Continue Reading • 11 Dec 2009
HLF eyeing the mega rich
Buyers looking for a landed home in central Singapore can now grab a special package offered by Hong Leong Finance.This is the latest marketing move by the company to attract home buyers in the competitive mortgage market.Hong Leong is targeting those families living in a tiny niche, who can...
Continue Reading • 11 Dec 2009
Singapore REITs under credit pressure
The soft property market and credit crisis are adding pressure on Singapore’s property trusts, said the analysts. They are expecting more cash-strapped Real Estate Investment Trusts (REITs) to seek funding through rights issues in the forthcoming months.The analysts also said that three to...
Continue Reading • 10 Dec 2009
Rising trend of foreign buyers at Sentosa Cove homes
Foreigners, including permanent residents contributed to the 43 percent increase of home transactions in Sentosa Cove in the first ten months of 2009, from nearly 38-39 percent in 2007 and 2008.A Savills analysis of caveats data captured by URA's Realis system also indicated that four out of ten...
Continue Reading • 10 Dec 2009
UK housing market making a comeback
The UK housing market is making a comeback as investor demand for rentals disappears and home buyers reject 'little box' apartments. Single-family attached houses accounted for approximately 24 percent of all residences started in England from January to September. According to the National...
Continue Reading • 10 Dec 2009
Industry observers expect more high-end projects in 2010
Singapore's property market is beginning to stabilize and developers in the country are ready to launch more expensive homes. Industry observers remain positive for the high-end residential sector, which may have more launches in 2010 if the economy continues to move smoothly towards...
Continue Reading • 10 Dec 2009
URA closes tender for Pioneer Road North industrial site
The Urban Redevelopment Authority (URA) has closed the tender for an industrial site at Pioneer Road North after receiving a total of eight bids. The highest bid came from property developer Kng Realty at $19.4 million.Sia Kong Wah & Gimp Investment submitted the next highest bid of $18...
Continue Reading • 10 Dec 2009
2010 is a better year for commercial property investment
2010 is more likely to be a promising year for property investment across most market sectors, according to the 16th Investment Strategy Annual released today by LaSalle Investment Management. The annual report includes a comprehensive survey and outlook of the global property market for 2010.Its...
Continue Reading • 9 Dec 2009
$38.5m bid for HDB’s Westwood Ave residential site
Chappelis Pte Ltd submitted a top bid of $38.5 million for the Westwood Avenue residential site.HDB said it received 32 bids, with the lowest one from Boon Keng Development, worth $16.8 million.The second highest bid was $38 million, which came from a joint venture between Sunway Developments and...
Continue Reading • 9 Dec 2009
Q3 private residential property transactions rise 20%
Singapore's private residential market experienced a strong surge in the third quarter, as the volume of transactions increased 20 percent over the second quarter. According to property consultancy firm Savills, around 11,000 units were sold between July and September, mostly in the mid-tier and...
Continue Reading • 9 Dec 2009
Asian property funds to expand to $200 billion in coming years
Asia's property fund size will expand by over 50 percent to $200 billion in the next two to three years. This is fueled by demand from institutional investors from several countries including China, industry executives said.Sovereign wealth funds, pension funds, and wealthy individuals would...
Continue Reading • 9 Dec 2009
Property investment sales recover after slow start
Investment sales of Singapore property recovered with a $9.4 billion year-to-date tally, after a slow start in the first quarter. CB Richard Ellis (CBRE) projects that the full-year figure will reach more than $10 billion after all transacted caveats in November and December have been lodged....
Continue Reading • 8 Dec 2009
Mega property projects in KL back on track
Construction players and developers are all in favour of mega property projects in the pipeline for Kuala Lumpur, especially the proposed development of a 100-storey skyscraper project, near the Matrade Centre.Ng Kee Leen, president of Master Builders Association of Malaysia (MBAM), said...
Continue Reading • 8 Dec 2009
Savills set to increase its Asian business
Savills Plc, the UK’s largest real estate broker, aims to boost its business in Asia to 50 percent of its worldwide revenue, which will primarily be driven by China’s economic growth, Savill’s CEO Jeremy Helsby said.China’s prospering economy will keep property demand...
Continue Reading • 8 Dec 2009
Pacific Star completes $549m refinancing deal for Capital Square
Pacific Star Group, a Singapore-based real estate investment house, announced yesterday the successful completion of the refinancing programme for Capital Square, an office building in Raffles Place.The facility, which is worth $549 million, includes $320 million of senior notes. It is the...
Continue Reading • 8 Dec 2009
Sentosa Cove draws more transactions
Homes in Sentosa Cove drew strong interest in the first 10 months of 2009 from high-net-worth investors. More properties costing over $10 million were transacted over this period compared to the last four years. According to property consultancy firm Savills Singapore, its analysis of URA Realis...
Continue Reading • 7 Dec 2009
Singapore property prices increasing
The dramatic rebound of the real estate sector in Singapore, including the renewed interest of foreign buyers, has become a big concern to government officials. This resulted in new measures being created to stop property speculations. The government’s earlier measures to boost the housing...
Continue Reading • 7 Dec 2009