Real News‎ > ‎2012‎ > ‎September 2012‎ > ‎

04 September 2012

4th September, Tuesday




Condo buyers undeterred by Hungry Ghost month

Source: The Straits Times

Buyers have not let the traditionally inauspicious Hungry Ghost Festival deter them from snapping up units at several projects in recent weeks.

Price - not superstition - is the prevailing view among many buyers it seems, particularly younger ones.

Analysts said there is still strong demand, with prices mattering more to buyers than any traditional festival.

The buying sentiment has also spilt into the industrial sector, with strata-titled units at recent launches like M38 and Apex @ Henderson facing strong demand.


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TEE, KSH, Heeton to jointly redevelop Geylang project

Source: Business Times

TEE International, KSH Holdings and Heeton Holdings have agreed to enter into yet another joint venture for a redevelopment project in Geylang.

TEE International's unit TEE Realty Pte Ltd, through its wholly owned subsidiary TEE Residence, exercised its option to purchase the freehold properties at 48A, 50A, 52A, 54A, 56A, 58A and 60A in Lorong 32, Geylang Road on Aug 31 at $22.6 million.

With a total land area of 13,282 sq ft and a plot ratio of 2.8, the site is allowed a development of up to a gross saleable area of 40,910 sq feet, including balcony.

The joint venture will see TEE Realty and Kim Seng Heng Realty owning 45 per cent each while Heeton Homes Pte Ltd will take the remaining 10 per cent of the entire issued and paid-up share capital of TEE Residence.


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International Markets


China home prices rise for 3rd month in Aug

Source: Business Times

New home prices in major Chinese cities continued to rise in August, signalling a moderately warming real estate market, according to data released by the China Index Academy (CIA) Monday.

The average new home price in 100 surveyed cities rose for the third straight month to 8,738 yuan (S$1,745) per sq m in August, an increase of 0.24 per cent from July, the CIA said.

On a year-on-year basis, the average price for new homes in the surveyed cities dropped in August, marking nearly three years of decline.


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Australia home prices rise on lower rates

Source: Business Times

Home prices in Australia's major cities rose 1.6 per cent in the latest quarter as lower interest rates boosted affordability, but a slowdown in the mining sector could hamper buyers' confidence, an industry report said Monday.

Australian households are highly sensitive to mortgage rates as over a third have home loans, most of which are variable. Mortgage debt totals around A$1.2 trillion, or 1.5 times household disposable income. A reduction of 25 basis points in the standard variable mortgage rates saves an average borrower about A$540 a year.

For the month of August, average dwelling values in Australia's capital cities were flat, according to the data.


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