Record high UK property asking prices in May
Asking prices for property in England and Wales rose to a record high in May, a survey showed on Monday, with house price inflation accelerating despite expectations for a much weaker housing market this year. Property website Rightmove said average asking prices rose 2.2 per cent on a year ago between April 13 and May … Read more
US economy weak, but worst is over: economist survey
The US economy appears to have weathered the housing and credit crisis but will show sluggish growth for the near future, a survey of business economists showed on Monday. The National Association of Business Economists survey of 52 professional forecasters suggested that the economy will avert a disaster but will remain weak into 2009. ‘Although … Read more
Punggol to have new shopping mall, more flats
RESIDENTS in Punggol will have a new shopping mall and more fellow residents within the next three years. The new town, which already has 16,700 flats, has another 2,100 being built now. The Housing Board also recently launched 1,700 flats and will launch another 4,000 by year’s end, said National Development Minister Mah Bow Tan … Read more
Pre-sold projects lend support as developers undergo correction
Greater blow from weaker sales will be felt only over next few years: analysts PROPERTY developers were mostly hit by slower residential sales in their first quarter results, and for some, they also suffered a lack of fair value gains in investment properties. But even as the residential segment undergoes a correction this year, analysts … Read more
Profiteering adds to construction woes
As costs of materials rise, some suppliers default on earlier contracts to make more THE last thing the construction industry needs now is another roadblock. But with the cost of materials and shortages soaring, the opportunity to inflate prices is too much for some errant suppliers and sub-contractors to resist. Sources told BT that some … Read more
US property set to recover in H2: Deutsche CEO
THE end of the credit crisis is getting closer and the US real estate market should recover in the second half of the year, Deutsche Bank chief executive Josef Ackermann said. ‘I think that we are getting closer to the end of the financial crisis,’ Mr Ackermann told the Swiss Sunday newspaper Sonntagsblick. ‘It is … Read more
Unveiling of URA Master Plan
WHAT IT IS THE Urban Redevelopment Authority (URA) will unveil the Draft Master Plan 2008 on Friday. The new Master Plan is expected to make changes in land use, increase plot ratios as well as lay the groundwork for a much larger population of 6.5 million, which could be reached in as short a span … Read more
Frasers Centrepoint Trust completes first mall revamp
FRASERS Centrepoint Trust has completed the first revamp of a multimillion-dollar plan to jazz up its malls. Anchorpoint Shopping Centre was relaunched last Thursday after a $13 million makeover, setting the stage for similar transformations at Frasers’ Northpoint and Causeway Point shopping centres. The suburban mall in Alexandra Road used to house mainly furniture stores. … Read more
Temporary home for Tekka Market stalls
Brisk business at most stalls but some report fewer patrons; original market to reopen late next year after revamp THE temporary home for the stalls in Tekka Market, a 10-minute walk from its original site in Buffalo Road, was officially opened yesterday. The zinc structure is along Race Course Road, opposite the Banana Leaf Apolo … Read more
Proxy votes in Mandarin Garden
We wish to point out contradictions in Mr Tan Kok Khoon’s letter, ‘Mandarin Gardens en-bloc sale – committee not involved in AGM” (May 9). According to Mr Tan, the Mandarin Gardens Collective Sales Committee (CSC) ‘was not involved in the proceedings of the annual general meeting on April 27′, but the facts speak otherwise. … Read more
