Real estate investment house Pacific Star has formed a joint venture in Munich which will help investors park their funds in prime Asian and European properties. Under the deal, Pacific Star Europe also launched its Asian funds distribution business with targeted assets under management of over US$2 billion. These will focus on real estate in India, China, Northeast Asia and Southeast Asia. Pacific Star...
GIC Real Estate has formed a joint venture with New York Stock Exchange-listed Host Hotels & Resorts to explore investment opportunities in Asia and Australia. The partners have agreed to invest a maximum of US$600 million of equity in the joint venture. Combined with the anticipated leverage, they will have a potential investment war chest of up to US$2 billion. GIC will own 75 percent of the joint...
From May, agents must apprise buyers, sellers of HDB policies MORE transparency and fewer disputes - these are the twin aims of a new checklist that housing agents will have to go through with buyers and sellers before a HDB resale flat transaction can be completed. Similar to what insurance agents have to do with their clients before sealing a policy, property agents will have to cover the key items of...
Industry watchers expect more home owners to consider refinancing their mortgage loans as interest rates look set to dip further. In fact, mortgage and financial planning firm SingCapital has seen a three-fold jump in enquiries in the last two months. Property agents are also getting a crash course in mortgage planning, including answering questions about refinancing of home loans. This occurs when...
The Singapore Interbank Offered Rate or SIBOR is expected to dip a further 0.5 percentage point over the next six months. Industry watchers said this will present an opportunity for homeowners and companies to refinance loans on their properties. The US Federal Reserve recently cut its benchmark interest rate to 2.25 per cent in a bid to prop up the American economy. And this has indirectly put a drag...
Ascendas Real Estate Investment Trust (A-REIT) on Monday bought a light industrial property at Loyang Way for S$25 million. It signed a put and call option agreement with Seow Khim Polythelene, a manufacturer of consumer plastic products. Seow Khim will lease back the property for 12 years with stepped increases in rentals. It also has an option to renew the lease for another three years. A-REIT said the...
HDB announced on Monday that it is introducing mandatory Resale Checklists for housing agents handling resale HDB flat transactions. The checklists cover a list of key policies and procedures that agents will need to advise resale flat buyers and sellers before they commit to a transaction. This is part of HDB's ongoing efforts to ensure that buyers and sellers are aware of relevant HDB purchase and...
Prices of mass market and mid-tier condominiums are expected to remain strong this year. But those of high-end residential properties could taper off by up to 10 per cent. And if you’re looking to buy, the market is in your favour, according to Propnex’s CEO, Mohamed Ismail Abdul Gafoore, in a speech to alumni members at the National University of Singapore. Despite the weaker market sentiments,...
For those with an eye on property, it’s a buyers market now, and home hunters who’ve done their homework may be able to snag some good deals, especially for those looking to upgrade. This, according to real estate agency Propnex’s CEO, Mohamed Ismail, who held a talk for alumni members at the National University of Singapore. Prices of HDB flats jumped 17 per cent in 2007 and it is set to continue...
A house buyer was cheated of S$5,000 when she was buying a five-room resale flat in Woodlands. Wong Git Siow said: "Since I was already buying the house, and... she (the flat owner) said she did not have enough money for the New Year, I did not mind giving her the $5,000 deposit." Ms Wong claimed that the flat owner changed her mind after receiving the S$5,000 deposit, and never returned the money. She...