Ascendas Real Estate Investment Trust (A-REIT) has reported a 4.0 per cent on-year increase in distribution per unit (DPU) to 3.62 cents for its third quarter ended 31 December 2012. The amount available for distribution increased 11.9 per cent to S$81.1 million in the quarter under review. In a filing on the Singapore Exchange, A-REIT said it recorded positive rental reversion of between 5.5 per cent...
real-estate
Demand for new private residential property in Singapore rebounded in December 2012, following a sharp decline in the previous month. According to the Urban Redevelopment Authority (URA), 1,410 units of new private homes were sold last month, up by about 30 per cent from November's sales of 1,087 units. Including executive condominiums (EC), the sale of new homes came in at 2,259 units in December. The...
According to official figures, about 2,300 Singapore permanent residents (PRs) who own Housing and Development Board (HDB) property will be impacted by the government’s latest round of cooling measures. From last Saturday (January 12), PRs owning HDB flats are no longer allowed to sublet their entire property even after the stipulated Minimum Occupation Period (MOP). Those PRs who have been already...
The property market is likely to see a quieter period after the latest round of cooling measures. Market experts told Channel NewsAsia both buyers and developers should be taking their time before taking their next steps. The latest series of cooling measures announced on January 11 has spurred some property buying to beat Saturday's deadline. For instance, Far East Organisation (FEO) sold just 22 units...
DBS chief executive officer Piyush Gupta said the property cooling measures unveiled on January 11 have "a lot of teeth". Speaking at an event for its private banking clients on Monday, Mr Gupta said the measures were a reflection of the government willingness to trade off growth for social harmony and to rein in inflation. He warned that as a result, the Singapore economy could grow at the lower end of...
Shares of major property developers in Singapore were battered Monday after the government introduced new measures to cool the real estate market at the weekend. By midday, shares of top developers listed on the Singapore Exchange had sunk more than four per cent as investors spooked by the measures dumped the stocks. CapitaLand shed 4.11 per cent to S$3.73, City Developments fell 6.11 per cent to...
Many Singaporeans might think that shoebox units are small but there’s another type of micro home that has taken off in other parts of Asia, most notably in China and Japan. Called capsule homes, such units are much smaller than shoebox apartments. Some of these units can be as tiny as seven ft long, six ft tall and four ft wide as evidenced in some developments located in the outskirts of China’s...
Malaysia: Johor state will review procedures and conditions for foreigners to own houses due to spiralling house prices in the state, especially in Iskandar Malaysia. Bernama news agency quoted Local Government, Housing, Arts, Culture and Heritage Committee chairman Ahmad Zahri Jamil as saying that the state Economic Planning Unit (UPEN) was studying ways to tighten the rules on foreign ownership. He...
Property analysts have described the latest set of government measures as the "tsunami" of property cooling measures, as it affects public and private housing, executive condominiums, and industrial properties. Some say, the additional stamp duty will hit investors wanting to own a second or subsequent property. Mr Mohamed Ismail, CEO of PropNex, said: "Such a drastic move will have a downward spiral...
The Government announced today a comprehensive package of measures to cool the residential property market. It also introduced a Seller’s Stamp Duty on industrial properties for the first time, to discourage speculative activity in the industrial market. Cooling Measures for the Residential Property Market The Government has implemented several rounds of measures to cool demand and expand supply, so as...