Pushing ahead through Asian crisis headwinds
JTC went full steam ahead with reforms and restructuring during the ‘97 slump, says CLARISSA TAN The 1990s was an exciting decade. Singaporeans, along with the rest of the world, invested in dotcoms, watched Seinfeld and started sipping Starbucks. But globalisation also meant that a financial crisis brewing in Thailand quickly spilt over to the … Read more
URA launches transitional office site at Mohamed Sultan Road
The Urban Redevelopment Authority (URA) has launched a transitional office site at Mohamed Sultan Road for sale by public tender. The site is one of three commercial parcels to be sold through the confirmed list under the Government Land Sales Programme for the second half of this year. It has a land area of nearly … Read more
SLA sees good interest for infill sites ahead of auction
THE Singapore Land Authority (SLA) yesterday said that it has received about 100 enquiries for the eight infill sites it launched for residential use on June 26. The sites will be auctioned off on Aug 21. ‘There has been especially strong interest in the good class bungalow site at Ridout Road and sites in the … Read more
Frasers targets ‘road warriors’
FRASERS Hospitality is cashing in on a newly emerging class of business traveller, known as ‘road warriors’, with the launch of a new, lower-tiered brand of serviced apartments early next year. The new apartments, to be branded Modena, will cater to business travellers who are on the road so often that high-end accommodation is unrealistic. … Read more
US home builders stay grim in August
Home builder sentiment was stuck at a record low in August, as stringent lending and a flood of foreclosed homes dragged on the real estate market, according to data from the National Association of Home Builders released on Monday. The NAHB/Wells Fargo Housing Market index held at 16 in August for a second straight month, … Read more
Frustrated UK home-sellers opt to let, not sell: survey
Plummeting house sales and depleted mortgage markets have led to a surge in demand for rented housing in Britain, tempting many frustrated home sellers into renting, the Residential Lettings Survey from the Royal Institution of Chartered Surveyors (RICS) showed on Tuesday. The survey showed agent instructions to let homes increased at the fastest pace in … Read more
US July housing starts down 11%
US home building projects started in July fell 11 per cent to the lowest annual rate in more than 17 years, while building permits tumbled 17.7 per cent, the Commerce Department reported on Tuesday. The annual pace of housing starts at 965,000 slimly beat Wall Street’s expectations of 960,000, but it was the lowest since … Read more
Hoi Hup-led group top bidder for DBSS site in Toa Payoh
A consortium led by Hoi Hup Realty has emerged as the top bidder for a Design, Build and Sell Scheme (DBSS) site at Lorong 1A Toa Payoh. Its bid of about $198.82 million (US$140.66 million) works out to about $160 per square foot of potential gross floor area. The site is being sold on 103-year … Read more
NZ Housing Affordability Improves In July
Housing affordability in New Zealand improved to its best level in 18 months in July, driven by lower interest rates and a cooling property market, a mortgage broker said yesterday. Buyers’ market: Falling interest rates, rising wages and lower tax rates are working in favour of home buyers Wizard Home Loans said an average homebuyer … Read more
UK sees biggest fall in home prices since 2002
Property slump deepens as banks starve market of mortgage loans UK house prices posted the biggest annual decline since at least 2002 as banks choked off mortgage lending, deepening London’s property slump, Rightmove plc said. Discount sale: London appears to be having its own special summer sale, with more than £21,000 off in a month, … Read more
