CapitaLand said yesterday its third-quarter net profit rose 85 per cent due to higher operating income and one-time gains from asset sales, mainly in its key Singapore and China markets. South-east Asia's largest property developer by market value also reiterated its confidence in those two countries, pledging new investments there while playing down the impact from slowing economic growth and recent...
economy
Prices reach new high but market watchers believe Govt curbs will have impact Private home prices rose at a faster pace than initially estimated to hit a new all-time high in the third quarter, boosted by the strong response to new launches last month, but analysts say the market has stabilised amid expectations the Government will impose more curbs if these are necessary to forestall the impact of hot...
Although it is still early days, many property market watchers are coming to the conclusion that the latest round of Government cooling measures - curbing the tenures of home loans - is having little or no impact. Some have described them as "very disappointing". Even the knee-jerk reaction that accompanied the previous rounds of cooling measures was missing. Show flats were packed the day after the Oct...
Sales of small private apartments, commonly known as shoebox units in Singapore, have taken a downward turn. Data compiled by analysts show that new sales fell about 57 per cent in September from the previous month to 99 units. The fall in the sale of shoebox units occured after the government announced that it will moderate the number of shoebox apartments entering the market. Analysts said buyers are...
Dynasty Real Estate Investment Trust (REIT) opens its yuan-denominated initial public offering today in Singapore's first flotation to be sold in the Chinese currency, seeking to raise up to 5.4 billion yuan or S$1 billion in what is set to be the largest new share sale here this year. Units in the trust, backed by Hong Kong billionaire Li Ka-shing and sponsored by ARA Asset Management, will be tradeable...
Mapletree Logistics Trust (MLT) saw a 1.2 per cent on-year increase in its distribution per unit (DPU) in the second quarter of its financial year. Its DPU for the three months ended 30 September 2012 came in at 1.71 cents, up from the 1.69 cents announced in the same period a year ago. Amount distributable to unitholders during this period rose by 1.2 per cent on-year to S$41.4 million. Gross revenue...
National Development Minister Khaw Boon Wan said strong demand for residential property in Singapore is likely to persist, as interest rates stay low. In a question to the minister in Parliament on Monday, MP Foo Mee Har cited the case of a flat in Queenstown which was sold for S$1 million. Mr Khaw said from time to time, some buyers are prepared to pay way above market valuation but these are...
The real estate investment sales market in Singapore surged 19.6 per cent in the third quarter from the previous three months, recording a total transaction value of almost S$9 billion, the highest quarterly total seen since the first quarter of last year, property consultancy Savills said yesterday. The residential segment recorded S$3.7 billion of transactions in the investment sales market, up 26.7 per...
The current low interest rate environment has led to a trend of home buyers refinancing their loans to take advantage of promotional rates. Most analysts agree that it may no longer be attractive for investors with longer loan terms to do so, given the 35-year cap on new home loans. Most home buyers refinance their mortgages in the third or fourth year of their loan repayment period. This as interest...
A real estate investment trust backed by Hong Kong tycoon Li Ka-shing announced Wednesday it hopes to raise around US$800 million in a yuan-denominated initial public offering in Singapore. The offer by Dynasty REIT will be the first yuan-denominated flotation in the affluent city-state and the second outside mainland China. Dynasty REIT, which is sponsored by real estate fund manager ARA Asset...