Home buyers prefer ‘mickey mouse' flats
The project Suites@Guillemard recently put up a sale of apartments of different sizes, which included units covering 258 square feet and an area equivalent to 21/2 car park lots. Offered units were priced at $1,450 per square foot or $374,000. These are the smallest private apartments in...
Continue Reading • 21 Oct 2009
Protesters purchase land to foil runway
Yesterday, environmental campaigners launched a surprise front in the ignited row on a third landing strip for Heathrow airport by revealing that they had purchased land located in the centre of the runway spot and will not give up these lands.A Greenpeace-led union of environmentalists, showbiz...
Continue Reading • 21 Oct 2009
Stanchart Provides Loan Approval in 15 Minutes
Standard Chartered Bank introduced an innovation at property showflats yesterday. A new service initiative will allow potential homebuyers to obtain advice on housing loan tenor and quantum in 15 minutes. In addition, in-principle approval will immediately be granted to interested...
Continue Reading • 21 Oct 2009
Class-A Housing Project Prices Plunge
Looking closely at the data prepared by Credo Real Estate, it has stated that the common prices of high-end housing projects have greatly declined compared to the suburban condo rates between the latter parts of 2007 and 2008 over the same period.Credo's reports claimed that average prices of...
Continue Reading • 21 Oct 2009
Gov’t Halts Selling of Industrial Lands
Amid the economic downturn, selling of government-owned industrial lands will temporarily be suspended until the first half of 2009 as part of the austerity measure to combat financial uncertainty. Only those in the reserve list will be allowed for sale. These will be made available if ever...
Continue Reading • 21 Oct 2009
K2LD Architects Receive Fiabci Award
K2LD Architects, an architectural firm based in Singapore, bagged a Fiabci Award for its newest project in hotel innovation, the G Hotel in Malaysia.According to K2LD, the G Hotel received a Malaysia Property Award in the hotel category of the world-renown Fiabci Awards 2008.The France-based...
Continue Reading • 21 Oct 2009
Habitat-Singapore builds houses for homeless
Habitat for Humanity, which started in the United States, helped build about 300,000 homes for some 1.5 million homeless people in more than 80 countries ever since 1976.Four years ago, the same organisation came into the shores of Singapore to spread the worldwide cause of giving shelter to the...
Continue Reading • 21 Oct 2009
Savills Predicts Luxury Home Rates Drop
Rates on super luxury homes as well as high-end units are expected to drop more than 20 percent in the next five quarters, according to Savills Singapore. The firm also added that declines of 12 percent and 14.3 percent on the respective segments would eventually follow in the first three...
Continue Reading • 21 Oct 2009
Currencies Battle it out with US’
After Nasdaq slided down 6.5 percent on Wednesday night, Asian currencies battle it out as key stock indices of two major Asian cities – Seoul and Tokyo – dropped closely to 7 percent.The said dropout prompted Asian currencies such as the South Korean won and the Indonesian rupiah to...
Continue Reading • 21 Oct 2009
Citigroup All the Way Down
Some fifty-two thousand job cuts, an all-time-low in the bank’s 13-year streak of being US’ number two bank, and a whole lot of losses – Citigroup goes down in an earlier round and it seems that they just can’t get enough.They actually plunged deep down already in 1987...
Continue Reading • 21 Oct 2009
KepLand Launches RYA-Accredited Training Facility
Keppel Land launches the Keppel Bay Sailing Academy (KBSA), the first and only sailing training facility accredited by the Royal Yachting Association (RYA), at Marina, Keppel BayAccording to Keppel Land, the extension to the Marina is a natural occurrence as the company undergoes expansion. CEO...
Continue Reading • 21 Oct 2009
Two sites for sale despite economic crunch
The Urban Development Authority (URA) is braving out against the weak market as they offer two 99-year leasehold sites—residential and commercial-residential.These sites are in the reserve list, which means that they will only be sold out if developers show interest to buy them. However,...
Continue Reading • 21 Oct 2009
Developers hope for policy changes from government
Property industry players hope that the government might reconsider changing some of its property policies. These policies were made two years ago, which then go beyond the usual exemptions and rebates on property taxes with its off-budget/budget packages.This demand was seen necessary to aid the...
Continue Reading • 21 Oct 2009
Property fund index pushes national indices
The Investment Property Databank (IPD) is asking for support from Singapore property fund managers to develop a national index. IPD is a global provider for real estate investment indices.“An IPD Singapore Index would bring an internationally recognised property benchmark to the regional...
Continue Reading • 21 Oct 2009
Name Suggestions for Marina Bay Attractions, Open to Public
The Urban Redevelopment Authority (URA) is asking from the public for recommendations and suggestions for names of the new Marina Bay Bridge and park. This park features the theme “Aspirations for life in Singapore” that is a collection of the artworks of 27 youths.Some names that...
Continue Reading • 21 Oct 2009
Frontech Centre’s sale did not push through
Ho Bee’s Group initial proposal of the sale of its $30 million worth Frontech Centre has not pursued.Frontech Centre is a high-tech industrial building with eight floors and a gross floor area of 71, 992 square feet and a lettable area of about 69,382 square feet. The company announced that...
Continue Reading • 21 Oct 2009
WBL leaner gains full swing
A full-year net profit of $66.8 million has put a Leaner WBL Corporation into full swing after a big $2.07 billion loss in 2007.This large amount comes from one off-net gains of $8.9 million and also from a 0.4 per cent increase in revenue to $2.07 billion.CEO Tan Choon Seng confirmed yesterday,...
Continue Reading • 21 Oct 2009
Residential Property Launches On hold
Because of the market gloom, Singapore is not likely to see major launches for residential property for the rest of 2008. Buyers are staying away thus making developers hold back their launches. However, industry experts suggest that by early next year, launches with attractive prices will come...
Continue Reading • 21 Oct 2009
URA adds Bukit site to reserve-list hotel
The Urban Redevelopment Authority (URA) has added a hotel site to its reserve list. Located in Bukit Chermin in the vicinity of Keppel Club and the Reflections at Keppel Bay project, the site can generate 50-70 hotel rooms. The property had been on the 2008 confirmed list but was placed in the...
Continue Reading • 21 Oct 2009
Lessons from the US Subprime Mortgage Crisis
“I and others were mistaken early on in saying that the subprime crisis would be contained,” said US Federal Reserve Chairman Ben Bernanke at the onslaught of the subprime mortgage crisis which crippled even the biggest players in the US financial industry. Way back in 2007, US...
Continue Reading • 21 Oct 2009