Archive | October 30, 2007

Sub-prime losses up to 30b yen: Mitsubishi UFJ

IN TOKYO EVIDENCE of increasing international fallout from the US sub-prime mortgage crisis mounted yesterday as Japan’s biggest bank, Mitsubishi UFJ Financial Group, said it would need to write down the value of sub-prime-related investments by up to 30 billion yen (S$379 million) – six times more than previously announced. The bank is expected to […]

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Affluent Asians buck downtown LA trends

Koreans and others helping fuel resurgence of area as a place to live, not just work (LOS ANGELES) Architect Christopher Pak understands what upwardly mobile Koreans want and that’s why his latest project, a 22-storey residential tower, has no apartments on the fourth and fourteenth floors. The number 4 sounds like the word ‘death’ in […]

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7,750 homes could still be sold using deferred payments

Units are in projects that had approval; developers may opt not to do so though UP TO 7,750 unsold homes could still be available for purchase under the deferred payment scheme, even though it was scrapped last week. The Urban Redevelopment Authority (URA) said these units are in developments that already have approval for the […]

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Real estate stocks hurt after end of payment plan

THE axing of the deferred payment scheme for homebuyers hit home with a vengeance yesterday when property shares dived while the rest of the market soared. The big guns felt the most pain. City Developments fell 50 cents, or 3.1 per cent, to $15.80. Allgreen Properties was down nine cents, or 5.1 per cent, to […]

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URA releases Novena site for private hospital

1.7ha plot of land is part of govt plan to meet patients’ future needs A 1.7HA site in Novena to build a private hospital was yesterday released for tender by the Urban Redevelopment Authority (URA). It is the first time in 31 years such a site has been put on the market, since the site […]

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WARRANT WATCH – Property contracts in the limelight

WARRANTS of property counters drew the attention of investors yesterday, following the withdrawal of the deferred payment scheme last Friday. Homebuyers in Singapore will now have to make progressive payments in step with the construction process, instead of deferring payment till the property is completed a few years later. The most heavily traded CapitaLand contract […]

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First decline in British home prices in 2 years

LONDON – BRITISH house prices fell for the first time in two years this month, led by declines in central London, a survey showed. The average cost of a home in England and Wales fell by 0.1 per cent to £176,100 (S$527,400) from September, a poll of 6,000 real estate agents by Hometrack found. Prices […]

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