Singapore Real Estate

Govts should lay off property markets: don

If he had his way, Joseph Gyourko would prefer to see governments regulating banks instead of directly intervening in real estate markets. The real estate professor at The Wharton School of the University of Pennsylvania acknowledges that private real estate markets don't always work perfectly - but neither do government regulations. "They are not the answer, because they have limitations themselves," he says.

Indirect discounts losing favour in dull residential market

Indirect discounts such as cash rebates and furniture vouchers, which were once popular with private homebuyers, are becoming less prevalent in today's price-sensitive residential market. Only 3 per cent (110 units) of some 3,850 non-landed private homes sold by developers since May 25 this year had indirect discounts, with an average discount of 1.7 per cent of the transacted prices.

New Bidadari homes to sit amid lush gardens

The first Housing Board (HDB) projects in Bidadari, which will be launched this month, will feature lush greenery and social spaces, in line with the area's vision of being "a community in a garden". Residents in the area will be able to visit a nearby market square and walk around a scenic park and lake.

CDL's trials a snapshot of soft market

For anyone seeking a full picture of the myriad challenges facing local property firms, City Developments' (CDL) latest financial report serves as a good primer. Soft sales, declining prices and an uncertain economic outlook are just some of the trials they are dealing with today. CDL noted that there are pockets of growth and opportunities, especially in overseas markets such as Britain and China.

Headwinds buffet Singapore retail sector

It has been a challenging fiscal quarter for a number of listed retail stocks, which have unveiled gloomy report cards in recent weeks, stung by tough operating conditions, softer consumer demand and the strong Singapore dollar. Spending is also being diverted from local brick-and-mortar stores; consumers have engaged mouse and shopped at online retailers, lured by lower price tags, or shopped overseas to get more bang for their buck.

OCBC joins DBS on FD-linked mortgages

Following in the footsteps of DBS, OCBC has in the last few weeks been offering a home loan pegged to a fixed deposit (FD) rate. The bank confirmed this new product with The Business Times. OCBC told BT it wants to offer a complete suite of mortgage pricing options. It also said the latest product offers price transparency, and stability, with the selected FD rate unchanged since November 2011.

Companies' Brief

Wheelock's net profit for Q3 up 2.4% at S$11.26m

Wheelock Properties (Singapore) has posted a 2.4 per cent increase in third quarter net earnings to S$11.26 million. Revenue for the quarter ended Sept 30, 2015 rose to S$83.90 million from S$22.76 million in the same period last year. In the first nine months of this year, revenue expanded to S$263.29 million from S$72.12 million in the same year-ago period.

CityDev unit to renovate Grand Copthorne Waterfront for S$17m

City Developments' (CDL) Millennium & Copthorne Hotels unit will renovate the Grand Copthorne Waterfront hotel in Singapore for S$17 million through the third quarter of 2016, CDL announced on Friday. The refurbishment of the 574-room hotel will take place in two phases, with the overhaul of the lobby and food and beverage outlets slated for completion by April 2016. The makeover for the hotel's second storey will take place between May and July 2016.

Centurion Corp

With its unutilised medium-term notes, management is on the lookout for suitable acquisitions. We expect progress within the next six months. Occupancy remains high and rising. Westlite Woodlands, expected to break even at 50 per cent occupancy, should be 80 per cent occupied by 2016.

Apple plugs into solar power in Singapore

Global Economy & Global Real Estate

Malaysian economy's Q3 growth slowest in over two years

London office properties worth £6.1b up for sale

Dubai rents, yields holding up but price slump continues

Hong Kong GDP Beats Economists' Forecasts on Domestic Demand

Boston Consulting Group Makes the Move to Hudson Yards

Is U.S. Real Estate In A Bubble?