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Singapore CapitaLand net profit likely more than doubled. |
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Thursday, 14 February 2008 |
Forbes.com by Jonathan Burgos 02.13.08, 2:01 AM
SINGAPORE (Thomson Financial) - Singapore-based CapitaLand Ltd, the biggest property developer in Southeast Asia, may have more than doubled its net profit last year due to exceptional gains and strong contributions from its residential property projects, analysts said Wednesday.
Six analysts polled by Thomson Financial expect CapitaLand to report a net profit ranging from 2.3 billion and 2.5 billion Singapore dollars for the past year, well above the record 1.02 billion dollar net profit it achieved in 2006.
Demand for housing soared in the city-state last year, with private residential prices rising 31.2 percent as developers sold some 14,800 residential units, up 32 percent from 2006.Developers also benefited from a 56 percent rise in office rents. As a result of strong demand
For more information:http://www.forbes.com/markets/feeds/afx/2008/02/13/afx4648333.html
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House prices soar as interest rate rises |
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Tuesday, 12 February 2008 |
news.com.au By David Uren February 05, 2008 09:23am
Faced with the combination of rising interest rates and soaring house prices, the Government yesterday rushed out plans for new first-home buyer savings accounts to ease what Wayne Swan described as the"affordability crisis".
The average price for an established home jumped 12.3 per cent nationwide last year, with the Brisbane market scoring the biggest increase of 21.6 per cent and Adelaide a rise of 20.2 per cent.
And housing analysts do not expect February's rate increase from the Reserve Bank to 7 per cent to slow the price gains, which are now being fuelled by investors fleeing the tumbling share market.
Releasing details of the new first home savings accounts, the Treasurer said the lack of affordable housing was causing widespread stress.
"There are a lot of people out there that are doing it very tough and we understand that," Mr Swan said.
"When you have six interest rate rises in three years and 10 rises in the cycle, there are a lot ofpeople in mortgage stress."
The new accounts -- an election promise -- are designed to extend tax benefits similar to superannuation savings to people trying to raise the deposit for their first home.
The government will refund all but 15 per cent of the tax paid on income that is deposited in the accounts. The earnings in the accounts will be taxed at only 15 per cent.
The accounts need to be held for a minimum of four years. The tax refund will apply to contributions of up to $5000, with the low rate of earnings tax applying to contributions of up to $10,000 a year.
For more information:http://www.news.com.au/business/money/story/0,25479,23162560-5013951,00.html
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The vast majority (more than 80%) live in public housing. |
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Monday, 11 February 2008 |
PR-inside.com isabel tiong 2008-02-09 08:12:37
The vast majority (more than 80%) of Singaporeans live in public housing. Popular neighborhood estates include names like Ang Mo Kio Town, Toa ayoh,Clementi, Yishun, Bishan, Hougang, Simei, Woodlands, Punggol, Bukit Batok,Tampines and others to the name. In short, they are called HDB.
Owning a home, a property in these places is a satisfaction. However,a buyer must consider
factors before buying properties. It is the decision of the buyer to engage with real estate agents to handle transactions. Advantages of hiring the best real estate agents depend on its accreditation. STAR PROjECT is a member of The Singapore Accredited Estate Agencies (SAEA) Scheme was introduced in November 2005 to ensure that accredited agencies and agents are competent and proficient in their field, and are equipped with the necessary knowledge and skill to give advice and carry out property transactions and deals.
For more information:http://www.pr-inside.com/the-vast-majority-more-than-r429879.htm
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Last Updated ( Monday, 11 February 2008 )
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Singapore property stocks higher on bargain-hunting |
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Monday, 11 February 2008 |
Trading Markets.com
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Sunday, February 03,2008; Posted:11:23 PM
At 10.15 am, City Developments was up 3.7 percent at 11.92 dollars, CapitaLand up 1.9 percent at 5.91 dollars, Keppel Land up 0.8 percent at 6.25 dollars and Allgreen Properties up 3.51 percent at 1.18 dollars.
Given recent falls in share prices, UBS Investment Research said investors seem to be pricing in a 70 percent fall in Singapore residential prices, similar to that in 1998.
"We think the residential market in 2008 will not replicate the 1998 scenario where residential launch prices fell by 50 percent in a year, and stock prices fell by 75 percent," said UBS analyst Regina Lim in a note to clients.
For more information:http://www.tradingmarkets.com/.site/news/Stock%20News/1058683/
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Last Updated ( Monday, 11 February 2008 )
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Private property prices grew more slowly, up 6.8% in Q4 |
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Sunday, 10 February 2008 |
Channel NewsAsia By Yvonne Cheong, Posted: 25 January 2008 2348 hrs
SINGAPORE : Private property prices grew more slowly at 6.8% in the last quarter of 2007, compared to the previous three months, according to the latest data from the Urban Redevelopment Authority (URA). Analysts attributed this to the uncertainty in the financial markets and measures taken to curb speculation in the property sector.
Still, for the whole year, private property prices were up by 31% - now just 6% shy of the all-time peak in 1996.
As for HDB resale prices, they climbed 17.5% last year. The supply of new private residential properties in the fourth quarter was down by 45% compared to the preceding three months.
The number of units sold dipped to just 1,397 - the lowest 4th quarter sales since 2003. Property consultants said worries that the financial market upheaval might spill over to the real economy made buyers more cautious.
For more information: http://www.channelnewsasia.com/stories/singaporebusinessnews/view/324981/1/.html
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Rising home prices to boost top Singapore developers |
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Sunday, 10 February 2008 |
Reuters (Reporting by Daryl Loo; Editing by Lincoln Feast) Wed Jan 23, 2008 4:22am EST
SINGAPORE, Jan 23 (Reuters) - Singapore's top three property developers are expected to report a sterling year of results, benefiting from a boom in Asia, but market turmoil and government intervention to curb house inflation is clouding 2008 prospects.
Keppel Land (KLAN.SI: Quote, Profile, Research), which kicks off results for developers on Jan. 29, is set to report fourth-quarter net profit more than tripled on rising property values and a one-off divestment gain, according to a Reuters poll of four analysts.
For the full year, Keppel Land's net profit is expected to have more than doubled, reflecting strong residential property sales at its harbour-front Keppel Bay projects. "We're expecting a very strong quarter for developers based on
contributions from the residential sector," said Daiwa analyst David Lum.
For more information:http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSSIN16983520080123
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Singapore Q4 private home prices grow at slower pace |
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Sunday, 10 February 2008 |
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Reuters (Reporting by Daryl Loo; editing by Kevin Lim and Jacqueline Wong) Friday, January 25 SINGAPORE, Jan 25 - Singapore's private home prices rose a slower 6.8 percent in October-December from the previous quarter, reflecting concerns about the global outlook and the effect of measures to cool the market, data showed on Friday. Prices are at their highest in more than 10 years and near the peak of mid-1996 just before the Asian financial crisis, but sentiment has cooled as the city-state's economy unexpectedly shrank in the fourth quarter from the previous three months. The Urban Redevelopment Authority's price index for private residential property, a gauge of profitability for property firms and an indicator of inflation, rose 8.3 percent in the third quarter. Private home prices rose 31.2 percent in the whole of 2007, the authority said in a statement. For more information: http://malaysia.news.yahoo.com/rtrs/20080125/tap-property-singapore-c3bb44c.html
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Last Updated ( Saturday, 16 February 2008 )
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Vast majority of Singaporeans live in public housing |
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Sunday, 10 February 2008 |
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The Star Project, By Isabel Tiong, 2008-02-09 08:12:37 The vast majority (more than 80%) of Singaporeans live in public housing. Popular neighborhood estates include names like Ang Mo Kio Town, Toa Payoh, Clementi, Yishun, Bishan, Hougang, Simei, Woodlands, Punggol, Bukit Batok,Tampines and others to the name. In short, they are called HDB. Owning a home, a property in these places is a satisfaction. However, a buyer must consider
factors before buying properties. It is the decision of the buyer to engage with real estate agents to handle transactions... For more information: http://www.pr-inside.com/the-vast-majority-more-than-r429879.htm
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Last Updated ( Saturday, 16 February 2008 )
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CDL's Cliveden awarded BCA's green award |
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Tuesday, 05 February 2008 |
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The Straits Times 5 February 2008 CITY Developments Limited (CDL) has been conferred the Green Mark Platinum award by the Building and Construction Authority (BCA) for its luxury residential development, Cliveden at Grange. 'The Green Mark Platinum is awarded to exemplary green projects that demonstrate 30 per cent energy and water savings, as well as environmentally sustainable building practices and innovative green features,' the BCA and CDL said in a joint press release on Tuesday. More: http://www.straitstimes.com/Latest%2BNews/Singapore/STIStory_203708.html
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Last Updated ( Tuesday, 05 February 2008 )
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