Archive | October 1, 2007

August new-home sales tumble to 7-year low

Report shows US economy has lost momentum, as housing slump worsens WASHINGTON – NEW home sales in the United States tumbled last month to their lowest level in seven years, a stark sign that the credit crunch is aggravating an already painful housing slump. Sales of new homes dropped by 8.3 per cent last month […]

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Sub-prime woes: rating agencies face SEC probe

Regulator checking whether they inflated ratings of mortgage- backed securities (WASHINGTON) The Securities and Exchange Commission (SEC) has opened an investigation into whether the credit-rating agencies improperly inflated their ratings of mortgage-backed securities because of possible conflicts of interest, the head of the commission told Congress on Wednesday. At a hearing before the Senate Banking […]

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SHP’s $265.3m bid wins Race Course site

A CONSORTIUM that includes several prominent doctors has put in the highest bid for a hospital cum hotel site in Race Course Road – $265.3 million or $431 per square foot per plot ratio (psf ppr). The consortium, called Singapore HealthPartners Pte Ltd (SHP), includes doctors Charles Chan, Leslie Lam and Maurice Choo. A major […]

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S’pore property seen as top buy in Asia-Pac

Sentiment strongest in rental apartment, office, hotel/resort, retail sectors: survey SHANGHAI, Singapore and Tokyo have emerged as the top three most promising Asia-Pacific cities for real estate investment prospects, according to a report from the US-based Urban Land Institute (ULI) and the accountancy firm PricewaterhouseCoopers (PwC). ‘Sentiment was strong among survey participants to either buy or […]

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Singapore out-Bostons even Boston itself

Republic honoured for harnessing intellectual capital (SINGAPORE) Singapore has been named Most Admired Knowledge City in a new study to identify urban communities that best harness intellectual capital for competitive advantage, pipping among others, the Athens of America, Boston. The other finalists in the inaugural Most Admired Knowledge City (MAKCi) awards – a joint effort […]

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Marina rising – and its prices follow suit

SUTL’s One°15 banks on rising affluence and the IR effect to keep afloat (SINGAPORE) Asia’s most luxurious and modern marina will officially open tomorrow and, in keeping with the sudden rush of demand for the high life, it will raise its membership prices for the eighth time. Nestled within the Sentosa Cove enclave with a […]

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Istithmar plans Asian real estate vehicle

The joint venture with a global financial partner will be based in S’pore FRESH from its recent $1.69 billion purchase of the prime development site at Beach Road, Dubai World Group’s (DWG) investment arm, Istithmar, said that it is planning to set up a major joint venture Asian real estate operation to be based in […]

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Ho Bee sells 20 units of Sentosa Cove condo

Turquoise goes on sale with prices ranging from $2,400 to $2,700 psf HO BEE Investment has begun selling units at its Turquoise condo at Sentosa Cove at prices ranging from around $2,400 to $2,700 psf. Apartments cost around $5.3 million for a typical three-bedroom unit and about $6.4 million for a typical fourbedroom unit. The […]

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Collective sale site flipped for 100% profit

Bought for $73m one year back, Emerald Mansion site sold for $148m (SINGAPORE) The Cheong family, which bought Emerald Mansion through a collective sale last year for $73 million or $931 psf per plot ratio, recently sold the District 9 freehold property for double that amount, or around $148 million or $1,888 psf ppr, sources […]

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Sentosa Cove puts last site up for sale

Bids of up to $144m are expected for Pearl Island, which can host up to 19 waterfront villas DEVELOPERS who want a slice of the Sentosa Cove pie will have to act fast – the enclave’s final development site was put on sale yesterday. Up for grabs is Pearl Island, the last of five islands […]

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Will the en bloc fever start cooling?

Activity may slow down with tighter regulation, higher costs and longer sales periods THE past two years have been stellar for en bloc sales which saw some 160 redevelopment sites being sold across the island. From 2006 till 2008, more than 11,000 units would have been withdrawn, to be redeveloped into 16,000 to 19,000 new […]

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Vietnam – the new hotspot

While its cost competitiveness in manufacturing is drawing in foreign investment, look at how Vietnam can boost its attractiveness to move up the value chain VIETNAM, on the back of strong economic growth in recent years, has been attracting record levels of foreign direct investment (FDI) through 2006 and 2007. Its entry into the World […]

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Vegas prices will indicate US home values

Sin City acts as a barometer because it shows investor movement (BOSTON) What happens in Las Vegas doesn’t stay in Vegas when it comes to the city’s housing market. Tumbling home prices in the city will show how far and how fast US property values will fall in 2008 as the housing decline enters its […]

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Time for some retail-tainment

Today’s malls – a careful mix of the right tenants, themes and well-planned layout to draw people in and keep them occupied longer RETAILING these days is more than just about the shopping, it’s a total experience. That means both ‘hardware’ and ‘software’ have to work together to give shoppers that feel-good factor. This is […]

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The price of luxury

Flush with cash, the high-end residential market is flourishing. Look at what $5 million gets you STRONG corporate profits and a global commodities boom in 2006 helped grow fortunes and sparked a surge in demand for trophy homes. A survey by Cap Gemini and Merrill Lynch shows the number of high net worth individuals (HNWI) worldwide […]

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Talking dollars and sense

Effective deployment of funds can boost the capital appreciation and rental yield of an estate IT IS an important mandate of the management council to keep watch over the expenditure of their estate, ensuring that funds are sensibly ploughed into areas which best meet the estate’s needs. For example, should the money in your sinking […]

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Sentosa Cove turns sea to gold with $3b land sales

Relaunched Pearl Island could see luxury villas going at hefty prices, market watchers say (SINGAPORE) The combination of sand, sea and location have worked wonders for Sentosa Cove Pte Ltd (SCPL). It has raised more than $3 billion selling land parcels in its namesake upscale waterfront housing district since late 2003, market watchers have calculated. […]

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Rush to launch collective sale sites

Chateau Eliza, Toho Garden, Vista Park among those offered for en bloc DESPITE the cooling off in the property market, there seems to be something of a rush to launch collective sale sites this week. The latest offerings are Chateau Eliza at Mount Elizabeth, Toho Garden in Yio Chu Kang, Vista Park at South Buona […]

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Real estate derivatives next for Singapore?

Despite their complexity, ONG CHOON FAH points out the distinct advantages this financial product can offer THE management of risks is central to all investments, including real estate. The financial markets have, since the 1970s, managed risks in the form of derivatives – financial instruments where the return is based on the return of another […]

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Property investors thrive in Malaysia

CHRISTOPHER BOYD sees more upside potential in the high-end residential market as demand pushes prices to ever-higher levels THE residential market in Malaysia can best be described as well taken care of at the lower end, and, at long last, in a state of broad equilibrium at the middle levels. The excitement, such as it […]

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Property investing – doing the math

ROY A VARGHESE examines two real-life scenarios to show investors the importance of timing in calculating risks and returns MOST individual investors of real estate have a gut feel about whether they made, lost or broke even after holding their property for a certain period. In reality, few attempt to do the math to measure […]

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Penang – the next luxury destination

An overview of the island’s hottest developments and what’s in store for the future THE island of Penang continues to have its own fascination – the food, its laid-back quality reminiscent of a Singapore 30 years ago, its frenetic night life. Whatever the reason, property continues to fly off the shelf as soon as it […]

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Mass market on the rebound

The outlook for this sector is bright, riding on strong demand fundamentals PRICES of mass market residential property are finally seeing a clear uptrend, as reflected in the latest Urban Redevelopment Authority’s (URA) statistics. Non-landed residential properties sited outside the central region (OCR) – where most suburban mass market properties are located – enjoyed a […]

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Marriott to double Beijing hotels

(NEW YORK) Marriott International Inc, the world’s largest hotel operator, said it plans to more than double the number of properties it has in Beijing by the 2008 Olympics. It will open another 20 hotels in China through 2010, Marriott said on Tuesday in a statement. The expansion in China, which has about 12,000 hotels, […]

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Industrial space gets snapped up

Vacancy rates are the lowest in eight years, as Reit players push up demand for warehouse and factory space IN TANDEM with the growth in residential and office space, average rents for the less glamorous but nonetheless expanding industrial space sector increased by 7.7 per cent in the second quarter this year. This is all […]

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Guide to Major Project Islandwide

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How to choose a housing loan?

DENNIS NG lists some criteria to look out for to ensure your package makes the most financial sense for you Most consumers want to know which housing loan is the best in town. Unfortunately, that is the wrong question to ask. There are more than 100 housing loan packages in the market and what is […]

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HDB resale market rides high

It’s certainly a seller’s market as prices trend upwards and demand for larger units rise HDB resale prices have been recovering slowly but surely since a dip in late 2005 when anti-cashback measures were introduced to stamp out the illegal over-declaration of resale prices. The recovery was based purely on the market fundamentals of an […]

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A glowing report card for the hotel industry

Business is brisk as visitor arrivals climb steadily, pushing up room rates and triggering a flurry of new hotel construction SINGAPORE is all set to spur tourism in the next few years with high-impact projects like the two integrated resorts, the Singapore Flyer, the Formula One (F1) Grand Prix and a rejuvenated Orchard Road. Last […]

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Getting the right look

Looking to dress up that brand new home? Here’s a peek at some of the latest trends in furniture design THE humble sofa is set to get all touchy-feely, judging by the emerging trends from the design capitals of the world. Furniture designers often take their cue from what is put on show at cutting-edge […]

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Enjoying the sponsorship edge in acquisitions

Strong developer sponsorship allows Reits to trade at lower yield levels while boosting the former’s risk management portfolio, says LESLIE YEE SINGAPORE commercial Reits have been enjoying rising office rents in 2007 but are facing fierce competition to acquire prime office assets amid competition from private equity funds and yield compression. Three events stand out: […]

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Dispelling some auction myths

Acquiring properties through an auction is not a taboo, says MARY SAI WHEN one flips through the property classifieds these days, it not uncommon to see properties advertised for auction. It is also not uncommon for a prospective buyer to immediately get the impression that the property to be auctioned, or the owner, must have […]

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China set to hike home rate

Expected mortgage rate rise to 8.613% aimed at reining in property prices (BEIJING) China’s central bank is expected to increase the interest rate of mortgage loans to 1.1 times the benchmark one-year lending rate this week to curb the property market, state media reported yesterday. If the rise goes ahead, the interest rate for five-year […]

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The changing face of office space

CALVIN YEO looks at how the development of New Downtown at Marina Bay will shape new offerings in the current CBD WITH demand for office space in Singapore outpacing supply in the last three and a half years on the back of healthy economic growth, rents have been surging, with prime space seeing a rise […]

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Carlyle eyeing deals in India, Japan, China

It plans to focus on strategic partnerships as it expands in Asia (HONG KONG) The Carlyle Group hopes to seal its first property deal in India this year and is buying homes for the elderly in Japan, as the private equity firm’s real estate arm looks to make inroads in Asia. In an interview, Jason […]

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