Singapore Property and Real Estate News Portal

THERE were some errors in our report, River Valley condo Luma relaunches with prices halved (BT, Nov 14). The condominium is located at River Valley Grove and not St Thomas Walk. The number of units sold earlier was not 10, but six. BT also understands that the developer, Novelty Group, purchased the site for around [...]

ZURICH – Swiss bank UBS AG, under pressure at home to give up on hefty bonus schemes in the face of its poor performance, said on Monday it will introduce a more transparent pay system for top executives. The bank, which is struggling in the sub-prime crisis and whose shares slumped to a new all-time [...]

SINGAPORE – The Encarta World English Dictionary defines ‘capitulate’ as ‘surrender, especially under specified conditions; consent or yield: to give in to an argument, request, pressure or something unavoidable’. It also defines ‘capitulation’ as ‘a giving up of resistance’. Much has been made of the selling of the past year, with some observers believing that [...]

  Dubai rental market on the rise Concern about the credit crunch has created a movement in the Dubai property market away from sales towards rentals, according to industry experts. More and more properties are being marketed for rent rather than being sold on. ‘Speaking to brokers, we have noticed a shift in the market. [...]

JAKARTA – Indonesia’s central bank said on Friday the country’s US$220-billion banking system ‘remains steady and solid’ despite a scare after a small bank failed to settle interbank payments. However, the monetary authority warned that growth in Southeast Asia’s biggest economy next year will be far less than its forecast of 6.5 per cent in [...]

HONG KONG – Hong Kong is heading for a record HK$80 billion (US$10.3 billion) budget deficit for 2008/09 after offering tax concessions and handouts and as a weakening economy depresses public revenues, Deloitte forecast on Thursday. Analysts say Hong Kong’s economy is heading for recession within the next six months, after four years of robust [...]

Asian stocks slide on renewed credit crisis, inflation worries Posted: 03 June 2008 1901 hrs HONG KONG : Asian stocks slid Tuesday due to fears that high inflation threatened economic growth and following a Wall Street tumble triggered by renewed concerns about the global financial crisis. Japanese shares ended 1.6 percent lower as concerns about [...]

Oil trades above US$132 a barrel in Asian trade Posted: 26 May 2008 1658 hrs SINGAPORE : Oil traded higher at more than 132 dollars a barrel Monday as the US summer driving season kicked off, underscoring concerns that output was inadequate amid rising demand. Tightness in the oil market has made prices sensitive to [...]

Spike in prices hits Hong Kong shoppers, food industry Posted: 08 May 2008 0132 hrs HONG KONG : Shoppers and food suppliers in Hong Kong have have been feeling the pinch in recent months as food prices have skyrocketed, showing the port city’s vulnerability to global shifts in commodities markets. Hong Kong’s staple foods of [...]

Oil prices steady near record highs Posted: 17 April 2008 1012 hrs SINGAPORE – Oil prices held steady near record highs in Asian trading on Thursday, boosted by a decline in US energy reserves and a weakening dollar that attracted investors to commodities, analysts said. New York’s main oil futures contract, light sweet crude for [...]