STI falls due to cautious investors
The 33.57- point loss yesterday that was experienced by the Straits Times Index (STI) at 2,629.25 was due to the traders who were unsure on how the Wall Street would react regarding the slew of the economic numbers, which is scheduled to be released this coming week; some may not be a positive...
Continue Reading • 29 Sept 2009
CBRE raises 2009 forecast for total sales
Based on a new report, the large volume of good class bungalow (GCB) boosted the growth of the investment sales market during the third quarter of the year.CB Richard Ellis (CBRE) said in report yesterday that as far as this quarter, the total investment sales amounted to $3.28 billion, a growth...
Continue Reading • 29 Sept 2009
Asian units improve versus greenback
The currencies of Asian nations ended generally higher vis-à-vis the US dollar last week as they were boosted by investors’ increasing appetite for risk brought about by indicators of global economic resurgence.Japanese yen: Japan's unit rallied to close at a 7-and-a-half-month high...
Continue Reading • 28 Sept 2009
Wall Street programme traders lead market direction
Over the last six to seven weeks, a recommendation, “buy the dips but sell into strength” has been the principal theme of the Singapore Market. With the Straits Times Index (STI) having dropped sharply on several occasions, like the bouncing measures of the government every time they...
Continue Reading • 28 Sept 2009
Primespace introduces innovative condo sales scheme
A new, innovative means of selling condo units in Singapore has emerged amidst the property market’s recent revitalization. Registered in June 2009, Primespace Investments Private Limited is selling apartment “shares” to investors who have at least $62,000.Primespace has...
Continue Reading • 28 Sept 2009
CapitaLand’s Macau project hampered by delays
The joint casino project partner of CapitaLand in Macau stated that the disagreements with New Cotai, the US business partner, had resulted to delays in getting approval to use the land.Last Saturday, CapitaLand, the real estate developer, which owns a 20 percent share in the Macao Studio City...
Continue Reading • 28 Sept 2009
Wall Street losses put pressure on local market
The overnight skid at Wall Street put additional pressure to the local stock market yesterday, but prospects of a potential US recuperation on Thursday somehow helped cut losses.Hong Kong-based Hang Seng Index fell by nearly 3 percent on the get-go, but managed to recover and finish only 2.5...
Continue Reading • 25 Sept 2009
Rise in Singapore Hedge funds
According to Eurekahedge Pte, the asset of the Singapore Hedge funds increased in August by US$21 billion.The research firm based in Singapore said in a report that the profit of the industry through performance reached US$8.8 billion, while the net inflows totalled to US$12.6 billion, which...
Continue Reading • 25 Sept 2009
Immigrant influx and the property market
In the middle of debates regarding the condition of Singapore’s property market, a survey was conducted to shed light on why the city’s real estate industry bounced back much quicker than most analysts expected.The said survey was accredited and commissioned by the feedback unit of...
Continue Reading • 25 Sept 2009
CDL starts sale of Hundred Trees condo
According to reports, the City Development Limited (CDL) has already started the first phase sale of the Hundred Trees condo at a median price of $895 per sq ft (psf). The 956-year leasehold condo is located in the West Coast area with 100 pink mempat trees lining the walkways of the project....
Continue Reading • 25 Sept 2009
Meyer Place condominium up for collective sale
According to Cushman & Wakefield, the property consultants that are marketing the Meyer Place condominium located at the Meyer Road, the site should be sold for at least $65 million. Depending on the unit size, that would provide the 28 owners a sale price of $2.2 million–$3.3 million...
Continue Reading • 24 Sept 2009
New residential sites offer for developers
Developers, who were eager to acquire lands, were offered yesterday with two impressive residential sites. One of them is the 99-year leasehold plot that is located at Upper Thomson Road. This site is just opposite the Island Golf Course of Singapore Island Country Club, which shows off the views...
Continue Reading • 24 Sept 2009
Strong faith for mass market recovery
At present, the mass market projects, which have been laggards in the 2007 growth, are leading the recovery. Compared to 48 percent of transaction in H1 2009 intended for homes outside the central region (OCR), only 36 percent of private residential transactions in 2005 and 2006 were intended for...
Continue Reading • 24 Sept 2009
South Tower to be leased by AIG
In probably one of the bigger-scale office lease transactions in the past few months, American International Group, Inc. (AIG) is said to have completed transactions for the lease of five floors (approximately 60,000 square feet) at the newly built South Tower at 78 Shenton Way.Multinational real...
Continue Reading • 23 Sept 2009
Law Society to scrap conveyancing fee guidelines
When fee guidelines were introduced in 2003, they pointed to legal payments of up to approximately 30 percent less for the transfer of title in property transactions. Some attorneys then began undercutting each other as they looked for business.However, lawyers will soon no longer be compelled by...
Continue Reading • 23 Sept 2009
GIC shares to yield other investments
The effort of the Government of Singapore Investment Corp (GIC) to market part of its share in Citigroup can ease up funds for other higher generating investments.According to market-watchers, this can include the energy sectors that are rapidly growing in emerging markets like Russia and...
Continue Reading • 23 Sept 2009
CDL acquires El Ad's half-share in Futura
City Developments Limited (CDL) has purchased its partner's half-share in their equal joint venture firm that owns the Futura condominium site located at Singapore’s Leonie Hill.Together with El Ad Group, CDL bought the residential freehold property at $287.3 million or $1,179 per square...
Continue Reading • 23 Sept 2009
Upsurge in real-estate related complaints
The upbeat real property market in the country has led to an upsurge of real estate-related problems and complaints from home hunters.According to the Consumers Association of Singapore (Case), the various complaints it had received began to pour in from the month of May.The association has...
Continue Reading • 22 Sept 2009
IFAs defend exit offers
According to industry players, what is just for some people is not to others; investors must have to accept such a market reality.According to Independent Financial Advisers (IFAs) and bankers, while the present takeover and privatisation deals appear unpleasant, the claims that they are...
Continue Reading • 22 Sept 2009
Investors must stay long, but must remain nimble
There is no doubt that chart watchers will be busy enhancing their analyses, this week, of the Straits Times Index. Among the key questions is whether the dips buying will still continue. If so, can they be eventually strong enough to assure that the 2,700 mark index is convincingly reclaimed.In...
Continue Reading • 22 Sept 2009