China's recent steps to cool its property market have taken the shine off China-linked property counters in Singapore, with analysts seeing limited upside for many stocks. For now, experts prefer property stocks with more Singapore-based portfolios. They said these currently offer more potential growth, thanks to exposure to hot sectors like residential and hospitality. China has been clamping down on...
General
CapitaRetail China Trust said its first-quarter distribution per unit stood at 2.14 cents. This was unchanged from a year ago but up almost five per cent from the previous quarter. Distributable income in the three months ended March 31 edged up 0.26 per cent on-year to S$13.34 million. CapitaRetail China Trust said the higher revenue is due to higher rental at Xinwu Mall and contribution from Beijing...
HDB resale prices have hit a fresh record in the first quarter of this year rising by 2.8 per cent compared with the previous quarter. But the latest figures show signs of a market that's finally stabilising after months of runaway prices. Some analysts expect demand to continue to rise in the next few months but said cash premiums are unlikely to go much higher than the current median of S$25,000. The...
The number of subletting transactions grew by 69 per cent to 6,600 in the first quarter. More HDB flats were also approved for subletting - from 24,300 in the previous quarter to 27,300. HDB attributed the increase to more renewal cases, greater demand and public awareness of need to seek HDB authorisation to sublet entire flats. Subletting cases have spiked since rules were relaxed in 2005, with...
Mainboard-listed United Industrial on Friday said its first-quarter net profit fell 19 per cent on-year to S$59.5 million. But its revenue for the three months that ended March 31 rose 34 per cent to S$261.5 million. United Industrial said the increase was mainly due to higher sales of trading properties and higher revenue from hotel operations. Sales of trading properties rose 75 per cent to S$141.4...
Property developer City Developments said it sold over 85 per cent of the 350 units launched at its latest development, Tree House, during a private preview on Thursday. Tree House is a 99-year leasehold condominium located within the Upper Bukit Timah and Chestnut Avenue private residential estate. The development comprises four towers of 24-storey apartments with 429 units. CDL said units from two to...
Private home prices continue to rise first quarter this year but at a slower pace. Final data released by the Urban Redevelopment Authority (URA) showed that prices were up 5.6 per cent slightly higher than the initial estimate of 5.1 per cent. But the rate of price growth has moderated from the 7.4 per cent increase recorded in the fourth quarter last year. URA said private home prices rose across all...
Data released by the Housing and Development Board (HDB) showed that its resale price index in the first quarter this year stood at 155. That's an increase of 2.8 per cent over the previous quarter, slightly higher than HDB's preliminary forecast of a 2.7 per cent rise. In the last quarter of 2009, the resale price index came in at a record high of 150.8. Also, the median Cash-Over-Valuation (COV)...
Healthcare real estate investment trust First Reit has reported slightly higher distribution for its unitholders in the first quarter. For the first quarter ended March, its distribution per unit or DPU was 1.9 cents, up 1.1 per cent from the year-ago period. Distributable income came in at S$5.24 million dollars, 1.3 per cent higher than last year figures of S$5.18 million dollars. Net property income...
GuocoLand said its net profit almost doubled on year to S$9.5 million for the third quarter ended March 31. But its revenue fell 15 per cent to S$107.6 million compared to the same period last year. The group said the higher profit contribution was mainly from property development projects in China. As such, its income tax expenses surged from S$800,000 to S$6 million. Administrative expenses for the...