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 $27 [...]

Posted on November 17th, 2008 under Singapore News | . Tags: asia economy, Banking, Business times, central, city, Clarification, condo, condo for sale, Correction, developer, district 10, district 9, Economy, Financial, Fiscal Year, Growth, inflation, Investment, Investments, land sales, landed property, Luma, Markets, Monetary, new launch property, new project launch, Novelty Group, Orchard, Performance, prime district, private property, projects, property market, real estate, real estate agent, real estate investment, residential, river valley, shares, Singapore, singapore business, singapore economy, singapore growth, singapore investment, singapore news, Singapore Property, Southeast Asia, St Thomas Walk, stock market, town, world economy, world news, world trade. Comments: 2

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 low [...]

Posted on November 17th, 2008 under Singapore News | . Tags: 2009, AG, Analyst, asia economy, Bank, Banking, Credit Suisse, Deutsche Bank, DJ, Dow Jones, Economic, Economic Crisis, Economy, Financial, financial crisis, Fiscal Year, Foreign Exchange, GMT, Growth, Investments, Investor, Marcel Rohner, Market, Markets, Monetary, news, Peter Kurer, property market, Raoul Weil, real estate investment, Recession, shares, stock market, Sub Prime, sub prime crisis, Swiss, Swiss Franc, Tax Fraud, UBS, United States, US, Wall Street, world economy, world news, world trade, Zurich. Comments: 2

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 markets [...]

Posted on November 16th, 2008 under Singapore News | . Tags: asia economy, Dow Jones, Economic, Hang Seng Index, inflation, Japan, Nikkei, shares, Singapore, Southeast Asia, STI, stock market, Stocks, Straits Times Index, United States, US, Wall Street, world economy, world news, world trade. Comments: 2

 
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. Now that more [...]

Posted on November 16th, 2008 under Singapore News | . Tags: Analyst, Appreciation, Arabtec Holding, Asia, asia economy, city, Credit Crunch, Domestic Economic Growth, Dubai, Economy, Growth, Market, Monetary, Pooja Rajani, Property Rent, real estate, Rental, Riad Kamal, Southeast Asia, stock market, town, world economy, world news, world trade. Comments: 1

FRANKFURT - Global central banks are ready to take further steps to ease market tensions and bolster faltering economic growth, top policymakers said on Friday, as world leaders gathered for talks on the economic crisis.
Speaking at a conference in Frankfurt, US Federal Reserve Chairman Ben Bernanke and European Central Bank President Jean-Claude Trichet said [...]

Posted on November 15th, 2008 under Singapore News | . Tags: Bank, Ben Bernanke, central, Claude, Credit Crunch, Economic, Economic Crisis, Economy, European, Fed, Federal Reserve, Financial, financial crisis, Frankfurt, Global, Growth, Investments, Israel, Jean, Liquidity, Markets, Performance, Policymaker, Rate cut, shares, Stanley Fischer, stock market, Su Ning, sub prime crisis, Top, Trichet, United States, US, world economy, world news, world trade. Comments: None

NEW YORK - Merrill Lynch & Co said on Friday that the majority of its best-performing financial advisors will join Bank of America Corp (BOA) when that bank buys Merrill at the end of the year.
More than 6,200 advisors accepted a retention package offered by BOA that was targeted at the top-producing brokers, a spokesman [...]

Posted on November 15th, 2008 under Singapore News | . Tags: Bank of America Corp, BOA, brokers, f inancial advisors, financial crisis, Investment, Investments, Merrill Lynch, New York, price rise, shares, stock market, sub prime crisis, world economy, world news, world trade. Comments: None

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 [...]

Posted on November 15th, 2008 under Singapore News | . Tags: asia economy, Bank Indonesia, Banking, Boediono, Economy, Global, Growth, Indonesia, Indonesian, Investment, Investments, Jakarta, Jos Luhukay, Liquidity, Miranda Goeltom, Monetary, PT Bank Artha Graha Tbk, PT Bank Century Tbk, PT Bank Danamon Tbk, Siti Fadjrijah, Southeast Asia, stock market, Strong, world economy, world news, world trade. Comments: None

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 growth [...]

Posted on November 15th, 2008 under Singapore News | . Tags: asia economy, developer, Hong Kong, Investments, new project launch, price rise, private property, Property, property market, real estate, world economy, world news. Comments: None

Economic slowdown seen putting brakes on energy efficiency drive here

GREEN development in the building space is likely to take a backseat among some organisations given the economic slowdown because the benefits are not tangible in the short-term, a building consultant said.
This is despite it being the ‘most ideal time’ to invest in green technology because [...]

Posted on November 15th, 2008 under Singapore News | . Tags: central, city, developer, district 10, district 9, Environment, Green, Investment, new project launch, prime district, projects, Property, property market, real estate, real estate investment, residential, Singapore, singapore growth, town, world economy, world news, world trade. Comments: None