Overseas Union Enterprise posted a 13.3 per cent on-year increase in net profit to about S$22.8 million for the second quarter ended June 30, 2012. Revenue for Q2 was up by 33.8 per cent to some S$96.7 million, compared to the previous year. In a stock exchange filing, OUE said the increase in revenue was mainly driven by the hospitality and the property investment divisions. The hospitality division...
economy
Despite concerns over the eurozone debt problems, Singapore saw buoyant purchase demand from investors and home buyers in the second quarter of 2012. According to DTZ Research, real estate investment rose 48 per cent quarter-on-quarter to S$6.9 billion in the second quarter, lifted by an increase in both domestic and cross border investments. Whilst government land sales (GLS) contributed to 43 per cent...
In the private residential market, developer sales continued to slow down in June, when only 1,371 new homes were sold. The Urban Redevelopment Authority's (URA) price index for the second quarter also showed that prices of uncompleted non-landed private homes fell by 0.9 per cent from the previous quarter, while those for completed non-landed private homes increased by 2.3 per cent. The slowdown in...
The average home price in China's 100 major cities edged up in July for the second consecutive month, reinforcing signs of a recovery in the property market even as the government seeks to spur broader economic growth, a private sector survey showed on Wednesday. The average price of 8,717 yuan (S$1,700) per square metre in the 100 cities surveyed was 0.33 per cent higher than June, accelerating from...
House prices in Australia's major cities recorded a surprise increase last quarter, the first in more than a year and perhaps an early sign that recent cuts in interest rates are stabilising demand in what has been a very subdued market. Wednesday's figures from the government showed prices for established houses in the major cities rose 0.5 per cent in the second quarter. The first quarter was also...
Property heavyweight CapitaLand saw its net profit slipped 3.3 per cent on-year in the second quarter to S$385.9 million on the back of higher finance costs and lower fair-value gains. This, even though CapitaLand sold more homes both in Singapore and China during the quarter. Revenue grew 16.5 per cent on-quarter to S$862.4m. The company said it sold 41 units of D'leedon, 125 units of Sky Habitat and 27...
Prices of resale private homes in Singapore were flat month-on-month in June, according to flash estimates of the Singapore Residential Property Index (SRPI) by the National University of Singapore (NUS). The index covering small units of 506 square feet and below - otherwise known as shoebox apartments - fell most sharply, by 1.4 percent. This is in contrast to the 1.9 percent increase recorded in...
About two weeks ago, property analysts at Credit Suisse released their findings of a survey it conducted to obtain a clearer picture of buyer behaviour given the strong sales at private residential project launches this year. It said its sample of 300 households had a profile that matched the Singapore population "quite accurately", with 80 per cent living in public housing and with close to 9 in 10...
Statistics from the Urban Redevelopment Authority (URA) show that the total transaction value of residential en-bloc properties for the first half of this year has plunged by 80 per cent compared to the same period last year. And there were fewer en-bloc property transactions. Real estate analysts believe that this is due to the global economic slowdown, and the government cooling measures introduced...
The Urban Redevelopment Authority (URA) released today the real estate statistics for 2nd Quarter 2012. Prices of private residential properties increased by 0.4% in 2nd Quarter 2012, compared to the 0.1% decrease in the previous quarter. Prices of non-landed properties in Core Central Region (CCR) and Rest of Central Region (RCR) increased by 0.6% and 0.4% respectively in 2nd Quarter 2012, compared to...