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WASHINGTON: US home prices rose in September, a fresh sign of recovery in the ailing housing market, S&P/Case-Shiller data released Tuesday showed. The 20-city price index rose 0.3 percent from August, the eighth straight monthly increase, and was up 3.0 percent from a year ago. Only two cities, New York and Chicago, had price declines on an annual basis, down 2.3 percent and 1.5 percent, respectively. The September increase was another sign that the battered housing market's recovery is gaining traction, six years after a price crash. Average home prices were back at mid-2003 levels, but measured from June-July 2006 peaks, they were about 29 percent lower. "It is safe to say that we are now in the midst of a recovery in the housing market," said David Blitzer, head of the index committee. The national price index for the third quarter was up 3.6 percent from the same period in 2011, and up 2.2 percent from the second quarter this year.

SINGAPORE: The Monetary Authority of Singapore (MAS) has warned households and businesses their ability to repay loans may be impaired if economic conditions worsen or interest rates rise. The central bank said the corporate sector is more in debt this year than last year and household debt is increasing faster than household assets. In its annual Financial Stability Review report, the MAS notes that even while the loan growth has slowed at major banks in recent quarters, their lending to consumers and companies remained high. After reaching a three-year high of 12.8 per cent increase year-on-year in third quarter 2011, overall loan growth turned negative in third quarter this year contracting dome 2.3 per cent. The growth of so-called non-bank lending was close to 10 per cent in the third quarter of this year. This has given rise to some concern that borrowers may bet that interest rates will remain low forever. Song Seng Wun, economist at CIMB Research, sa

SINGAPORE: The government is expected to offer a steady supply of land for residential developments in the first half of 2013. Property-watchers said the sites offered this year have seen strong interest from developers, pushing land prices up by an average of some 10 per cent on-year. To meet demand, the government has ramped up its land sales programme this year. For both the first and the second half of 2012, it offered sites which could yield more than 14,000 private homes. Of those, about half were placed under the Confirmed List, and the remaining under the Reserve List. Analysts said the demand has been strong, with an average of 6 to 8 bids per site for land plots costing above S$200 million. New land supply is expected to be on tap in the first six months of 2013 as well. Nicholas Mak, executive director of SLP International Property, said: "The government is likely to offer about the same number of development sites on the Confirmed List w

KUALA LUMPUR: Malaysian conglomerate Sime Darby said on Tuesday net profit for the first quarter fell 7.8 percent year-on-year as lower prices cut into its palm oil earnings. The world's largest listed palm oil producer by acreage recorded a profit of 990 million ringgit ($330 million) in the three months ending September 30 compared with 1.07 billion ringgit for the same quarter last year. The plantation division's profit declined as crude palm oil prices stood at 2,707 ringgit per tonne, down from 2,946 ringgit per tonne in the same quarter last year, the company said in a statement. Prices have fallen as slowing economic growth in China and Europe reduced demand and caused stockpiles to increase. But stronger performances in the conglomerate's other divisions, namely industrial, property, motors, and energy and utilities, offset the lower contribution from the plantation unit. Sime Darby said it targets a net profit of 3.2 billion ringgit for the

KUTCHAN, Japan: A spat over disputed islands has put a damper on Chinese sales of Japanese products from cars to cosmetics, but there is relief in one market at a fall-off of foreign buyers - real estate. The chance to own land in Japan's beautiful mountain wilderness of Hokkaido has proved a real draw for moneyed Chinese, but there are local fears over what some see as a land grab targeting forests and water sources. The backlash started in 2010, when a Chinese woman was quoted by local media as saying: "What's arresting about Japanese land is that it has water." Broadcasters jumped on the issue, running stories that talked of how Chinese money was "targeting Japanese water" and buyers were "trying to conquer Hokkaido." The reports left locals nervous amid much talk of land being appropriated by potentially hostile foreigners. Mineral water producers say they are often contacted by brokers for Chinese buyers. Morihiro O

SINGAPORE: All one- and two-room owner-occupiers of HDB homes do not need to pay property tax in 2013, similar to 2012. For a majority of other HDB flat types, the property tax bill for 2013 will increase by between S$40 and $50, after taking into account a new S$40 rebate. The increase in property tax comes after the revision of Annual Values (AVs) of HDB flats with effect from 1 January 2013, reflecting the rise in market rentals. To mitigate the increase in the property tax payable by lower and middle-income households as a result of the AV revision, the government will give a one-off rebate of S$40 to owner-occupied HDB flats. The Inland Revenue Authority of Singapore (IRAS) reviews the AVs of all properties - including HDB flats - annually. The AV, which is based on the estimated annual market rent of a property if it were to be let out, applies to all homes, including owner-occupied homes. It is used as a basis to compute the property tax payable. Proper

Residential projects due for completion next year are 2-3x more than usual. "We retain our negative view on the Singapore residential sector as we continue to see a rising threat of vacancy with an acceleration in physical completions in 2013-15," said CIMB in a report. Vacancy rates for non-landed private units had increased from 5.9% to 6.1% qoq in 3Q12 as take-up continued to lag physical completions. URA estimates that completions will rise from 16.1k units in 2013 to 23.1k units in 2015, which according to CIMB is 2-3x more than the historical average occupancy rate of 8k units per year. "This will be compounded by impending completions of HDB units following aggressive building in the last three years. Around 83% of local residents still live in HDB flats. Incremental demand should also come under pressure from the Singapore government’s continuous reassessment of its liberal immigration policies. PR conversions have tapered off, a glimpse of

SINGAPORE: Private resale home prices rose by 1 per cent in October, marking a similar rate of increase seen in September. The figures are part of the latest Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at the National University of Singapore (NUS IRES). In its report, NUS IRES said that property cooling measures have had "transient effects" on housing prices. However it acknowledged that the measures have helped reduce volatility in prices. It also added that there has been no significant decrease in overall home prices despite the introduction of new measures in October to cap tenures for bank property loans. The SRPI also showed that the number of private resale homes sold in October rose compared to the month before, based on data captured as at 21 November. The report also found prices of small units to be more volatile compared to other segments for the month of October. The SR

Hao Yuan offered the highest price. According to a release, the Housing & Development Board (HDB), as the Government’s land sales agent, launched the land parcel at Pasir Ris Drive 3 / Pasir Ris Rise for tender on 26 Sep 2012. The executive condominium site at the intersection of Pasir Ris Drive 3 and Pasir Ris Rise has a 99-year leasehold. It attracted a total of 10 bids with Hao Yuan's $207m bid as the top offer. This is followed by World Class Investments ($206.7), and FCL Tampines Court Pte. Ltd. and Keong Hong Construction Pte Ltd came in third ($202). Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C Senior Sales Director Email: marshe_inc@yahoo.com.sg DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G) | www.marshe.sg | www.marsheproperties.com.sg | www.hudcsg.blogspot.com | | www.hausatserangoon.sg | www.8riversuites.com | www.newagents.sg |

A 15,080 square-foot home nested at serene neighbourhood not to miss. Perfectly situated moments to Holland Village and Bukit Timah eateries. This exclusive Good Class Bungalow is where sublime contemporary brilliance and the finest luxurious convene: - Generously proportioned layout with plentiful light - Selection of living areas include an open plan family space - Integrate touch screen automation system for daily convenience and lifestyle needs - Wall mounted touch screen at the living and master bedroom allow whole house controls and monitor of lights and motorized blinds. Property Type: Good Class Bungalow Location: Holland Park Tenure: Freehold Land area: 15080 sqft Build in : 8281sqft 5 bedrooms ensuites/6 bathrooms Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C Senior Sales Director Email: marshe_inc@yahoo.com.sg DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G) | www.marshe.sg | www.marshep

AsiaOne Friday, Nov 23, 2012 SINGAPORE - The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Jurong Town Hall Road to Tamerton Pte. Ltd. Tamerton Pte Ltd is a wholly owned subsidiary of Resorts World Singapore (RWS). It had submitted the highest bid of $238.2 million in the tender for the site. Tender for the hotel site was launched on Sept 19, 2012 and closed on Nov 20. It had attracted 11 bids from major players in the industry including Ascott Holdings, City Developments and United Engineers Developments. The land parcel was offered for sale on a 99-year lease term. Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C Senior Sales Director Email: marshe_inc@yahoo.com.sg DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G) | www.marshe.sg | www.marsheproperties.com.sg | www.hudcsg.blogspot.com | | www.hausatserangoon.sg | www.8riversuites.com | www.newagents.sg |

AsiaOne Friday, Nov 23, 2012 SINGAPORE - While developers of executive condominiums (ECs) have flexibility in designing and pricing their units, they must remember the policy intent of EC and the spirit of the EC policy, said Minister for National Development Khaw Boon Wan. In his Housing Matters blog today, the minister brought up a recent media report on an EC penthouse supposedly sold for $1.77 million that has raised eyebrows. "There is now another developer going to market a luxurious penthouse. I expect the developer to have done his calculations, to ensure that the unit will be affordable for the targeted EC applicants," said Mr Khaw. Mr Khaw said: "We provide EC developers with much flexibility, but they must be mindful that flexibility must be exercised in keeping with the intent and spirit of the EC policy." He reiterated that the purpose of ECs is to help Singaporean families earning within $12,000 per month acquire a condominium a

My Paper Friday, Nov 23, 2012 SINGAPORE - When Mr Patrick Tan, 41, a research manager, decided to update his 15-year-old home, he wanted storage solutions that would keep clutter out of sight. He had new built-in wardrobes fixed, gave his walls a fresh coat of paint and polished his floors. After adding some plants to his living space and a centrepiece armchair, his home was renewed. To make your home look instantly transformed, you need to change things that cover a bigger area, such as wall colour, says Mr Nelson Leow, a director at U-Home Interior Design. "If you simply change a small portion of the home, such as buying a new sofa set or TV console, there is no impact and the place will still look old," he adds. "Painting a small portion of your walls will also have little impact, compared to painting the entire home." If you feel lost, consult an interior designer who can help you to redesign your home. Says Mr Tan Kim Da, c

China Daily/Asia News Network Friday, Nov 23, 2012 An isolated five-floor building is standing in the middle of a new road that will soon be open in Wenling, Zhejiang province, the People's Daily reported. A family from Xiazhangyang village insists on living on the isolated building, because they are not satisfied with the relocation compensation offered by the government, the neighbors said, according to the captions of the photos taken on Wednesday. To guarantee their safety, neighboring rooms next to them are being kept from demolition, though the neighbors all moved out. The road, which leads to the Wenling Railway Station, hasn't been put into use yet. Martin Koh | 86666 944 | R020968Z Sherry Tang | 9844 4400 | R020241C Senior Sales Director Email: marshe_inc@yahoo.com.sg DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G) | www.marshe.sg | www.marsheproperties.com.sg | www.hudcsg.blogspot.com | | www.hausatserangoon.sg | www.8riversu

04:45 AM Nov 23, 2012 SINGAPORE - Despite its name, there is nothing small about the Minor Group, which plans to attract Singaporeans to invest in Thailand's luxury property sector as well as expand its presence in Singapore. With gross revenues of over S$1 billion, Minor is one of Thailand's largest hotels and resorts operators with over 70 properties, and also one of the country's largest fast-food operators, with over 1,200 outlets across 23 countries. At present, Singapore accounts for about 10 per cent of Minor's total revenue, largely from sales at outlets like The Coffee Club and Thai Express, which ironically was sold to the Thai-listed company by Singaporeans Grace Goh and Ivan Lee, who founded the chain in 2002. "We plan to grow these and are looking at opportunities elsewhere in the hospitality sector," said Mr James Knowles, the company's Vice-President for Sales and Marketing. He is also looking for Singaporeans interes

04:45 AM Nov 23, 2012 It has been a pulsating year for Singapore's private housing sector, with homebuyers' aspirations remaining firm even as prices and volumes defy conventional market cycles to hit record highs, but there are signs that the market is now heading towards equilibrium. In today's market, speculation no longer drives the property buyer following the implementation of sellers' stamp duty in January last year for sales that take place within four years of the home purchase. The purchase decision largely comes from a desire to seek out investment opportunities and fulfill ownership aspirations. These behavioural drivers will have to be managed by the authorities if they want to ease the rate of increase of home prices. Indeed, the current measures may be more effective than previous ones as they target underlying economic, social and home buying fundamentals. By now, the lack of investment alternatives due to the persistent low interest