Property sales in China may improve by the end of 2009
A year following China’s introduction of a powerful stimulus to motivate home buyers to take out mortgages in a distressed property market, property sales may get a boost from news that the government will take out some of those measures before the year ends.On the other hand, such...
Continue Reading • 4 Nov 2009
HDB home loan arrears drops
In spite of the global recession, the number of arrears of HDB home loans declined to 30,770 in September 2009 from 33,670 during the same month in 2008. The drop transpired after the Housing Board launched a raft of measures at the start of the fiscal crisis to assist home owners who are likely...
Continue Reading • 4 Nov 2009
Home sales slow down in October
There has not been much activity in the private property market in October compared to other months.In the first nine days of October, approximately 350 private homes were sold - far less than September's sales.The pace of buying did not seem to have picked up even for the succeeding weeks of the...
Continue Reading • 4 Nov 2009
Saizen REIT discloses defaults on loan
Saizen REIT, a Singapore-listed property trust, said Tuesday it had defaulted on a commercial-backed securities loan amounting to 7.253 billion yen."Maturity default” was not expected to affect the ability of Saizen REIT to operate as a going concern nor weaken the company’s...
Continue Reading • 4 Nov 2009
Allgreen’s Net Profit Climbs to S$74m in Q3
Allgreen Properties, a mainboard-listed developer revealed its net earnings of $74 million in the third quarter. The amount is more than double the company’s net profit from the previous year. The revenue of the developer for three months that ended in September increased by 159 percent to...
Continue Reading • 3 Nov 2009
HSBC to launch equity-linked home loan
Home buyers can now place their investment on the stock market as they dive into the resurgent property market.For the first time in Singapore, HSBC will be launching an equity-linked home loan package today - one that will also offer cash rebates to all its customers.The package will provide all...
Continue Reading • 3 Nov 2009
Singapore ends 3-day losses, shares close 0.71% higher
The three-day incurred losses of Singapore ended as shares closed 0.71 percent higher on Friday, after Wall Street rebounded on news that the economy of the United States posted its highest growth in two years, said dealers.On a volume of 1.78 billion shares equivalent to S$1.66 billion, the...
Continue Reading • 2 Nov 2009
Singapore organises new council to promote green buildings
Singapore has organised a new council to accelerate the country’s development of 'green' buildings.The Singapore Green Building Council is designed to enhance cooperation between public and private sectors in Singapore and drive the construction and building industries towards environmental...
Continue Reading • 2 Nov 2009
Government could release additional office sites in 2010
The Singapore government could release up to three office sites for sale as early as the first half of 2010, as office rents are beginning to stabilise, says David Lawrence, CEO of Wheelock Properties (Singapore), based on his experience with the Wheelock Place office tower. “Look at the...
Continue Reading • 2 Nov 2009
CapitaLand obtains approval to list CapitaMalls Asia
CapitaLand gained the approval of its shareholders to list CapitaMalls Asia, its integrated shopping mall business, paving the way for its listing in the Singapore Exchange before the year ends.The portfolio of the new units will include 86 retail properties priced at S$20.3 billion situated...
Continue Reading • 2 Nov 2009
Strata units, site at Thomson Village up for en bloc sale
The owners of a vacant site and eight freehold strata-titled commercial units located at Thomson Village have collaborated to sell their properties through a bid, with an asking price of $24 million. The properties have a total site area of 13,387 sq ft. The vacant site is zoned for...
Continue Reading • 30 Oct 2009
URA to Release Tender for an Industrial Site
The Urban Redevelopment Authority (URA) will release a tender for an industrial site situated at the corner of Soon Lee Drive and Pioneer Road North. The land parcel, which has a 30-year lease period and a site area of 1.9 hectares, was formerly included in the reserve list system.Based on the...
Continue Reading • 30 Oct 2009
Australian Home Prices Increasing
In Australia, home prices increased by 3.7 percent in the three months up to September, based on a study done by the Australian Property Monitors (APM). In the study, the highest price increase was seen in Melbourne with a 6.1 percent rise in prices of average-sized homes. Adelaide and Sydney saw...
Continue Reading • 30 Oct 2009
Ascott REIT’s Distribution Drops 25% in Q3
Ascott Residence Trust (Ascott REIT) said the unit-holders' distribution in the third-quarter dropped 25 percent to $11.8 million from $15.9 million in the previous year, as demands for serviced residences in China and Singapore weakened.The distribution per unit (DPU) was 1.92 cents in the third...
Continue Reading • 30 Oct 2009
Reserved Landed Housing Site Now on Sale
Demands for residential land has spread to the landed sector from the non-landed sector. For the first time in 2009, a developer has initiated the sale of a government landed housing site and consultants expect to see extensive competition for the site. The 99-year leasehold site with 14,098.9...
Continue Reading • 29 Oct 2009
Marina Bay Financial Centre Due to Open Next Year
The Marina Bay Financial Centre mega project worth S$4-billion will push through despite the global financial downturn. In one year, phase one of Marina Bay Link Mall will be launched and ready for operation with tenants occupying the offices above.Raffles Quay Asset Management (RQAM) revealed...
Continue Reading • 29 Oct 2009
Far East Organisation introduces new trend
Property developer Far East Organisation is investing in local culture to ensure the growth of its new hospitality brand.Through its innovative concept- Village Hotels & Residences, Far East aims to offer visitors and tourists a distinct taste of the local culture in the nearby communities....
Continue Reading • 29 Oct 2009
Asian Policymakers Act to Control Property Prices
Asian policymakers, in an effort to prevent the growing real-estate values in the region from leading to another mortgage bubble, are now acting to rein in property prices.Regulators in Hong Kong, South Korea and Singapore recently asked banks to tighten their lending standards. The central...
Continue Reading • 29 Oct 2009
Singapore launches SE Asia’s first zero energy building
National Development Minister Mah Bow Tan launched the country’s first zero energy building (ZEB) yesterday during the opening of Singapore Green Building Week.The ZEB, the first building of its kind in Southeast Asia that costs $11 million to retrofit, is located within the Building and...
Continue Reading • 28 Oct 2009
Advanced design planned for Hong Leong’s new project
Hong Leong Holdings, after having recently won a site along Serangoon Avenue 3 in a hotly contested government tender, said that it is planning to build a unique project on the site with over 400 units.The developer is now completing the project plan and said that it will be “cutting...
Continue Reading • 28 Oct 2009