MEGAN WALTERS and ALVIN TEO examine the impact of sub-prime woes on the real estate needs of financial institutions here Singapore’s fast growing financial sector has been a major user of prime office space and helped fuel the strong growth in rental and capital values of late. But the recent credit crisis in global markets […]
Archive | September 30, 2007
Brisbane Devt to release 2nd phase of Illoura
Freehold project has 30 detached, semi- detached houses AUSTRALIAN property company Brisbane Development is all set to release the second phase of Illoura, its strata landed project in the Holland Road area, after the first 15 units in the development were sold at prices exceeding $5 million apiece. Illoura consists of a total of 30 […]
Bright outlook for S-Reit market
With more overseas players seeking to list here and strong backing from the government to strengthen governance and the operation structure of the market, Singapore is fast developing into a regional Reit hub SINGAPORE has established itself as one of the most developed markets in Asia for real estate investment trusts (Reits), supported by new […]
The ascent of landed housing
Solid gains await with double-digit price growth and Singapore’s scarcity of land THE private residential market has been hogging the headlines in the past 18 months. Overall prices recovered in 2004 and 2005 by 0.9 per cent and 3.9 per cent respectively, and home prices shot up by 10.2 per cent in 2006 and another […]
Redas: Mass market poised for double-digit growth
En bloc sales slow after introduction of new rules by govt By UMA SHANKARI (SINGAPORE) The Real Estate Developers’ Association of Singapore (Redas) yesterday said that it expects ‘double-digit’ price growth in the mass market over the next 12 months. ‘The mass market hasn’t been very active and the base is low,’ said Chia Ngiang […]
Sentosa’s strata landed site goes for $78.7m
Boutique developer Elevation bags The Green Collection SENTOSA Cove’s only strata landed housing development, The Green Collection, has been sold for $78.7 million, or some $1,099 per square foot per plot ratio (psf ppr). Boutique developer Elevation Developments won the 71,600 sq ft site with the highest bid out of eight received, following an expressions […]
Jalan Sultan conservation shophouses up for tender
SEVENTEEN two-storey conservation shophouses opposite KeyPoint at Jalan Sultan were yesterday offered to suitable investors by the Urban Redevelopment Authority (URA). The reserve-list site is 0.14 hectares in size. A URA spokeswoman said: ‘The land parcel can be put to commercial uses such as hotel, office, shops and restaurants. There is no control on the […]
HK home prices may rise 33% by 2009: UBS
(HONG KONG) Hong Kong’s home prices may jump as much as 33 per cent between now and the end of 2008, extending gains as wages rise amid a lack of new housing, UBS AG said. Housing prices are strong thanks to ‘rising pay increases, record low supplies, cheap mortgages and fund flows from mainland China’, […]
Fed adopts broker rules for banks after eight-year delay
(WASHINGTON) The Federal Reserve has approved new rules defining securities transactions that banks can conduct without registering as brokers, ending an eight-year impasse with the US Securities and Exchange Commission (SEC). The rules, adopted on Monday at a Fed meeting here, will let banks continue selling mutual funds, variable annuities and other securities. The SEC, which […]
Big loan problem credits up: US regulators
WASHINGTON – The value of big loans with problems held by US banks rose 20 per cent in 2007, but the volume of syndicated credit commitments worth US$20 million or more also rose, bank regulators said on Tuesday. Adversely rated credits – loans that are likely to result in some loss for the lender without […]
US consumer confidence tanks, home sales slide
Weaker business conditions, less favourable job market cast cloud over consumers (WASHINGTON) Sales of existing homes, depressed by turmoil in credit markets, fell for a sixth straight month in August, pushing activity to the lowest point in five years. Meanwhile, US consumer confidence tanked in September to almost a two-year low amid weakening business and […]
Boutique developer buys Sentosa Cove site for $79m
It beats 7 others for landed property plot; plans to build 20 houses there A YOUNG entrepreneur who became a full-time polo player after selling his Silicon Valley dot.com firm has emerged as a successful property developer here. Indian-born Satinder Garcha, 36, signalled his growing status in the industry yesterday when his company paid $78.68 […]
UPFRONT – Viet property boom a goldmine for S’pore firms
LE THI Phuong Thao, 51, never planned to get rich – very rich, in fact, by Vietnamese standards – by speculating on real estate. Ms Thao, a home furnishings business operator, stumbled across buying and selling property almost by accident five years ago. And she is now seizing the opportunity presented by an extraordinary boom […]
Case, property body seek licensing of housing agents
Calls come amid growing number of complaints lodged against agents A SHARPLY rising tide of consumer complaints against property agents has emerged in recent data, amid a spike in property sales in the current market boom. Complaints include claims of misrepresentation and a failure to explain contract terms and conditions fully, the consumer watchdog, the […]
REDAS CHIEF ON BRIEF PAUSE – Collective sales ease as new rules take hold
THE market for collective sales has had a spectacular run this year, but new rules are likely to act as a brake to it, Mr Simon Cheong, chief executive of property developer SC Global, said yesterday. Mr Cheong, who is also chairman of the Real Estate Developers Association Singapore (Redas), said the market is still […]
Singapore office rentals still competitive
COMPANIES are paying more for labour and rentals in Singapore than before, but prices are still competitive compared to global cities such as London, New York, Tokyo and Hong Kong. Minister Mentor Lee Kuan Yew pointed this out yesterday, but said the Government would ensure prices stayed lower than countries ‘in a similar position’. This […]
