Singapore recession is over
Singapore declared yesterday that its recession was over, as its economy grew for the second straight quarter in the three months to September.Official data showed that Singapore’s gross domestic product (GDP) increased 14.2 percent in the third quarter for its quarter-on-quarter...
Continue Reading • 20 Nov 2009
URA rules for building conservation
Since the start of URA’s programme in the 80s, over 6,500 buildings have already been marked for conservation. Conserved buildings include those at the areas of four main districts. Aside from general rules, there are also specific restoration guidelines added to each building and area...
Continue Reading • 19 Nov 2009
Business anticipates six months of expanding gloom
Business expectations on all economic sectors for the following months fell dramatically, said the Department of Statistics and the Economic Development Board yesterday.In the services market, which was expected to adjust for the manufacturing depression, 53 percent of the net weighted balance...
Continue Reading • 19 Nov 2009
Another expected stimulus package in February
The government of Malaysia is tipped to bring out its second package of economic stimulus worth RM7 billion (S$2.92 billion) to RM10 billion (S$4.17 billion) in the next coming month.In March, Najib Razak, the Deputy Prime Minister of Malaysia, will soon become the prime minister of the country....
Continue Reading • 19 Nov 2009
Assistance for cash-strapped residential buyers
Several developers consider giving payment extensions to home buyers when they encounter difficulty in paying up if the projects obtain Temporary Occupation Permit (TOP).Buyers on a Deferred Payment Scheme (DPS) will pay up a large piece of the selling price then.Developers may provide buyers...
Continue Reading • 19 Nov 2009
Feng shui masters predict 2009’s stock market
Unlike other traditional analysts in the stock market, who made 2008 all way wrong, predictions and methods of the masters for balance sheet and ratios on stock market are more serious and mysterious.“I can't really explain it to you, but I can show it to you. It's based on calculating and...
Continue Reading • 19 Nov 2009
More open spaces to be cultivated
Some cities around the world have managed to produce green lungs, which are converted to open spaces intended to serve as tranquil sites where people can unwind. Because of this achievement, Singapore should consider thinking resourceful methods for it to become a clean and green city, said...
Continue Reading • 19 Nov 2009
Scores of high-end condos remain unsold
Developers have launched 2,200-unit luxury projects between 2006 and 2008, but 55 percent of these units were not purchased in November 2008, said property consultancy firm CB Richard Ellis (CBRE).CBRE expects that luxury apartments/condos’ price will drop about 10 to 15 percent in the...
Continue Reading • 19 Nov 2009
Property investment sales plunge in Q4 ‘08
A DTZ report shows that property investment sales during the fourth quarter of 2008 plunged to its lowest level since 2003, with more players sidelining as credit tightened and prices weakened, The total transaction value was $352 million, a decrease of 74 percent from Q3 of 2008. As sales fall...
Continue Reading • 19 Nov 2009
Developers urge for provisions
Reports from Property Consultancy Groups show a decline in residential property values in Singapore, especially in last year’s high-end segment, which may continue up to this year. Consequently, listed property groups may encounter great pressure to create provisions and amendments for...
Continue Reading • 19 Nov 2009
Nova 88 showflat swarmed by visitors
Property hunters have decided to explore and purchase some fresh flats despite the low-spirited market.According to developer Roxy Homes, the new development called Nova 88 in Balestier, which seems to be the sole official launch thus far in 2009, saw an overwhelming amount of visitors during its...
Continue Reading • 19 Nov 2009
Hot bargains for house buyers
The property market is having a quiet start for 2009, with several developers now temporarily closing their flats in response to the decrease in the volume of customers.However, as the housing prices continue to fall, many house buyers are attracted back to the market and their shopping...
Continue Reading • 19 Nov 2009
Indian hotels fight recession with freebies
The recent terror attacks and ongoing global crisis slow down the inbound tourism industry, with occupancy rates for most first-class hotel have plunged substantially. According to the recent reports of the Federation of Hotel and Restaurants Associations of India (FHRAI), the decrease is about...
Continue Reading • 19 Nov 2009
New mass market projects approaching
Developers in Singapore intend to open additional mass market projects for the coming weekend in order to get the most of an increase in buying interest. The Beverly, an 118-unit project at Toh Tuck Road, is set to be launched by niche developer Hiap Hoe Group this Saturday. Hiap Hoe will be...
Continue Reading • 19 Nov 2009
Dwindling Asian REITs market capitalisation
A fall of around one-third was recorded in Asian real estate investment trusts’ (REITs) market capitalisation in the last two quarters in 2008 compared with the first two quarters, since REITs units' prices plummet and new listings run out.Data from CB Richard Ellis (CBRE) reveals that the...
Continue Reading • 19 Nov 2009
Clifford Development lawsuit dismissed
Clifford Development's request to waive $2.18 million in stamp duty for the change of ownership of two properties has been dismissed.The Court of Appeal last Tuesday supported an advanced decision that making Clifford Development accountable to give stamp tax on Change Alley Aerial Plaza and...
Continue Reading • 19 Nov 2009
CapitaLand rights issue through ATMs
It is now possible for investors planning to subscribe to the $1.84 billion rights issue of CapitaLand to apply through an ATM (automated teller machine). With this system, which is like an IPO or initial public offering, investors are able to save more time.CapitaLand has about 60,000...
Continue Reading • 19 Nov 2009
Shopping spree for CapitaLand staff
CapitaLand shopping mall retailers are likely to see some CapitaLand personnel, including CEO and President Liew Mun Leong, spending a lump of their bonuses in the near future. Mr. Liew will be giving vouchers to the retailers as well.Shopping vouchers worth $1 million in total are set to be...
Continue Reading • 19 Nov 2009
1000-unit mark in home sales hit
Developers managed to attain an 18-month high in private homes just over the span of one month. To this point, the 1,000-unit mark is already hit in February.Blessing continues to shower down upon nearly all of the developers who are willing to trim price prospects to affordable levels. Around 90...
Continue Reading • 19 Nov 2009
Wheelock Prop suffered $200 million investment hit
The net profit of Wheelock Properties falls by 63.1 percent to $100.95 million for the 12-month period ending on 31 December 2008 from $273.49 million for the nine-month period ending on 31 December 2007. The group has its financial year-end changed from 31 March to 31 December. Investment...
Continue Reading • 19 Nov 2009