IMF says Asia less vulnerable to shocks in global market
In light of the ongoing sub-prime mortgage crisis in the United States, major global agencies have relooked their forecasts for this year. According to the latest World Economic Report, the International Monetary Fund (IMF) is predicting a 3.7 percent growth in the global economy this year – down from a 4.9 percent expansion in 2007. … Read more
Refinance your home loan now
Putting off refinancing your mortgage could be a big mistake. Last week, Mrs Money and I refinanced ours. We used to live in an HDB flat and enjoyed HDB’s 2.6 per cent interest. It is still the best loan deal in town. If you have one, don’t switch to a bank loan and don’t even … Read more
Doom and gloom – and boom
THE dreaded ‘R’ word – ‘recession’ – once whispered only by the most bearish of forecasters is now being cited openly by policymakers. One of the latest to do so was US Federal Reserve chairman Ben Bernanke. The prospect of a shrinking US economy is no small matter for the world – or Singapore. The … Read more
Singapore luxury home prices surge 31%
WHEN it comes to luxury homes in prime locations, Singapore had the eighth-most expensive properties in the world last year, ahead of cities such as Tokyo, Hong Kong and Paris. Average prices of top-end properties in the Republic rose by 31 per cent to £1,197 (S$3,232) per sq ft (psf), the sixth-biggest price jump globally, … Read more
First-quarter home price data due on Friday
What it is THE Government will release information on property prices and rents for the first three months of the year on Friday. This extensive data will cover private homes, HDB flats, offices, shops and industrial properties. Preliminary estimates of first-quarter home prices earlier this month showed that the boom over the past two years … Read more
St Regis Singapore: Launch of a star
Krug champagne flowed and strains of Frank Sinatra floated in the air as nearly 1,000 guests partied at the official opening of St Regis Singapore last night. Holding court in Tanglin Road, just minutes from Orchard Road, it is the first six-star international-brand hotel to open here in 12 years. The last one, the Ritz-Carlton … Read more
Converted buildings offer huge payoffs
WHEN the former Pasir Panjang ITE building at 991 Alexandra Road was put up for tender last year, property investment firm Richzone jumped at what it saw as a prize plot. The site, opposite the PSA Building, offered 265,000 sq ft of office space in an established commercial and industrial zone. ‘It was delivered to … Read more
A dream come true despite obstacles
TRAINING firm ERC Holdings had to move out of its Robinson Road premises when rents there tripled. Rather than move to an affordable but inconvenient location, managing director Andy Ong decided to tender for the former River Valley Primary School and convert it into offices. ‘It’s a great location: five minutes from Orchard Road, five … Read more
Tricky to convert old schools into offices
Some firms leasing the buildings from Govt have run into teething problems IT WAS an unusual proposition by the Government: Turn old, empty school buildings into functional offices fit for companies to occupy. Firms hit by the acute office crunch last year responded warmly to the suggestion. They took up several former schools leased out … Read more
Restoring old glory
Amber Road will enjoy a clubhouse that has been restored to its historic grandeur. Developer Wheelock Properties said it spent $1.3 million to conserve, retrofit and furnish the double-storey building. The stately bungalow was built in the 1900s, along what was then the seaside at Katong. Then known as The Pavilion, it was owned by … Read more
