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Archive for March 4th, 2008

Survey ranks Singapore as best place to live for Asian expats

Posted by luxuryasiahome on March 4, 2008

Singapore is the best city in the world for Asian expatriates to live in due mainly to its quality of life and low crime rate, a survey released Tuesday by ECA International showed.

Sydney was rated second in the survey, with third spot shared by Melbourne and Kobe in Japan, the human resources firm said.

Rounding out the top 10 list for Asian expatriates was Copenhagen in fifth spot, followed by Canberra and Vancouver. Wellington and Yokohama shared eighth spot, with Dublin next.

ECA said Singapore, Southeast Asia’s most advanced economy, was also ranked above the other cities because it offered Asian expatriates a similar feel to their home countries.

“Since quality of living is relative to where someone comes from and to where they are going, our scores take into account the home and destination country,” said Lee Quane, ECA International’s general manager in Hong Kong.

Hong Kong, Singapore’s long-running regional rival as a business hub, was ranked 15th in the global cities list, with the territory’s air pollution cited as a drawback.

Among Chinese cities, Shanghai was seen as the best place for top Asian professionals while Xian ranked as the worst location, according to the survey, which compared living standards in 254 locations worldwide.

Beijing, host of the 2008 Olympic Games in August, fared worse than other Chinese cities such as Nanjing and Tianjin because of its notorious air pollution, the survey showed.

ECA International’s annual survey is based on categories such as climate, air quality, health services, housing, political tension and personal safety.

Within Asia, Hong Kong and Tokyo were ranked joint fourth behind Singapore, Kobe and Yokohama, the survey said.

Trailing in sixth spot was Taipei, followed by Macau and Bangkok, with Malaysia’s Kuala Lumpur and Georgetown cities sharing ninth spot while Shanghai and Seoul were in 11th and 12th places, respectively.

Brunei’s Bandar Seri Begawan was in 13th place in Asia and 89th place globally.

Manila was ranked 24th in Asia and 133 globally, while Jakarta was in 39th place regionally and 190th worldwide.

Chennai was the highest ranked Indian city within Asia, in 26th spot, with Mumbai in 30th and New Delhi 37th. – AFP/ir

Source : Channel NewsAsia – 4 Mar 2008

Posted in All Singapore, Foreigners, General | Tagged: , , , , , , , | Leave a Comment »

Hong Leong Bank eyes 10% home loans growth

Posted by luxuryasiahome on March 4, 2008

It is confident of hitting target for cash-back product

Hong Leong Bank is aiming for 10 per cent growth this year in its housing loans segment, which currently has about 130,000 clients.

As part of its efforts, the bank yesterday introduced a cash-back home loan product which it said enables customers to save more on interest payment.

Chief operating officer for personal financial services, Moey Tan, said the bank was confident of achieving the target of RM1 billion (S$436 million) receivables for the new product by year-end as it was the only one in the local market to give cash rebates to home loan customers.

‘The 10 per cent cash-back will automatically be credited into the customer’s savings or current account annually from year six onwards,’ she said. Ms Tan said for a RM200,000 loan, the first payment is RM1,000 and each year the customer will receive a percentage of the cash-back amount until the end of loan tenure.

The cash-back home loan features include a repayment option and up to 90 per cent margin of financing, applicable for completed properties with a minimum loan amount of RM200,000.

Hong Leong Bank’s group managing director Yvonne Chia said housing loans today accounted for 58 per cent of total household debt and the commitment was long term, averaging from 20 to 30 years.

‘The cash-back concept was tested and validated through independent research. . .’ she said. — Bernama

Source : Business Times – 4 Mar 2008

Posted in Finance, General | Tagged: , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »

China property shares cut to ‘underweight’

Posted by luxuryasiahome on March 4, 2008

BNP slashes 2008 earnings growth for industry to 31%

Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.

The bank downgraded China real estate shares to ‘underweight’ from ‘overweight’, and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.

‘Housing starts, bank loans and prices all showed signs of slowing down,’ Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.

Home prices in some of China’s biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite.

The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.

Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.

Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor’s said in a Feb 28 report. — Bloomberg

Source : Business Times – 4 Mar 2008

Posted in General, Overseas Property | Tagged: , , , , | Leave a Comment »