Investors here are increasingly moving to conservative asset classes, such as overseas properties in Australia, because of poorer risk appetite after the recent global financial crisis. According to Westpac Private Bank, it has seen 18 percent of its Australia and New Zealand multi-currency home loans coming from Singapore in the past nine months, up 6 percentage points over the same period last...
General
Rents at suburban malls in Singapore are fast catching up with those for prime Orchard Road retail space as neighbourhood malls draw increasing shopper numbers and more interest from tenants. The difference between prime Orchard Road rents and suburban rents narrowed to just 9 per cent in Q2 2010 - from as much as 24 per cent at the start of 2009 and 21 per cent in Q1 2005 - according to CB Richard Ellis...
The "Waterway Terraces" at Punggol have been making waves in the property circle, with 5-room units oversubscribed by 12 times. The Build-to-Order project, which houses 1,072 units, opened for applications on June 30. As of Tuesday evening, the 5-room units saw 12 times the number of applicants. The smaller units are also favoured, with 4-room units in demand at a ratio of 9 applicants to 1 unit. With...
Mainboard-listed AIMS AMP Capital Industrial Reit says one of its assets has won an award at the Asia Pacific Property Awards. It says its 13 storey, high-tech business park building at 1A International Business Park won the Architecture Award under the Singapore commercial property category. The building won for its strategic, modern architecture and landmark positioning. It also features eco-friendly...
Telco SingTel has launched new mobile phone applications that will make shopping a whole lot easier. "Go! Shopping" lets users navigate through Singapore's top shopping malls and help them find particular stores quickly. For those looking for savings, there's "Price Pal" - where you let your phone's camera view the barcode and you'll get a list of shops selling that product and its various prices. The...
Mainboard listed Tsit Wing International says its subsidiary, Tsit Wing Coffee Company, has sold a property to an independent third party for HK$16.9 million (S$3 million) in cash. The property is situated at Kwai Tak Industrial Centre in the New Territories in Hong Kong. Tsit Wing International says the transaction will result in an estimated profit of HK$9.8 million. It also says the consideration for...
Mainboard-listed Fu Yu Corporation's subsidiary has agreed to sell land-use rights and buildings in a Free Trade Zone in Shanghai. These comprise land-use rights - of an area of 33,280 square metres - which run from 1 March 1996 to 28 February 2046. The deal also includes a 3-storey production-cum-warehouse building with ancillary office of a gross floor area of 8,031 square metres. The total sale...
The opening of the Esplanade Xchange underpass shopping area will result in more shopping choices and a shorter walking distance between City Hall MRT Station and Suntec City. SMRT, which runs Esplanade Xchange, said it will only take five minutes to walk from the MRT to Suntec City, which is much shorter than the current route by CityLink Mall. The Esplanade Xchange will officially open on July 8. One...
Auction sales in Singapore grew for the first half this year, totalling about $87 million. Property consultant Jones Lang LaSalle's Auction House reported more than 80 per cent of all listings were put up for sale by owners. The increase in the number of properties for sale by auction is due to a change in mindset - many now see it as an effective mode of sale, the firm said. Auction attendances have...
Most of the speculative and arbitrage capital from overseas that has entered China in recent months has ended up in the property and equity markets, an official at the country's foreign-exchange regulator said in rare comments as the agency usually plays down the effect of hot money inflows into China. An investigation that began in February has uncovered 190 cases of hot money inflows involving US$7.35...