HOMEBUYERS and sellers, hit by the recent market malaise, have at least one comforting constant in a market plagued by uncertainty - low interest rates.
Despite various economic woes - inflation, volatile oil prices, slowing economic growth - Singapore’s banks are continuing to offer rock-bottom mortgages.
The latest to reaffirm Singapore’s low interest rate home loans environment was Malayan Banking (Maybank), which yesterday launched a new three-year variable home loan that offers a low interest rate of 1.68 per cent a year for the first year.
Still, after that, the rates increase to 2.48 per cent for the second year and 2.88 per cent in the third.
Maybank’s new package followed two other home loan launches by Standard Chartered Bank (Stanchart) and HSBC.
Both offer competitive interest rates, albeit through slightly more creative housing loans that are pegged to the Singapore Interbank Offered Rate (Sibor).
Stanchart’s M...
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No major property launches expected in the next 3 monthsFrom: lushhomemedia.com
Post Date: 2008-03-12 19:00:10
Kuwaiti pullout from $818m deal, low top bid for Jurong West site unnerve market
MAJOR residential property launches are unlikely for at least three months after the already nervous market was spooked by two sobering events this week, market analysts said.
The first was the pullout of a Kuwaiti investor, Kuwait Finance House, from an option to buy $818 million worth of 97 units at Goodwood Residence.
The second was when the top bid by a property developer for a Jurong West lande...
more Singapore: costliest industrial spot in Asia ex-JapanFrom: lushhomemedia.com
Post Date: 2008-03-12 18:46:48
It rises 2 notches to take 12th place in the world
SINGAPORE has risen two notches to become the 12th most expensive industrial location in the world.
And excluding Japan, which is ranked third in the world, Singapore is the most expensive location in Asia, surpassing Hong Kong (23rd), Mumbai (26th) and Taipei (36th).
Average net rents are now at $1.70 per square foot a month after rising 26 per cent year-on-year (y-o-y) last year. Total occupancy cost ...
more Swiss Bank takes up bulk of new blockFrom: lushhomemedia.com
Post Date: 2008-03-12 18:43:54
EFG Bank leases 52,000 sq ft for the next 6 years, with naming rights
SWISS private banking group EFG Bank has leased 52,000 square feet or two-thirds of a nine-storey office block coming up opposite Parliament House.
Prestigious address: EFG Bank Building will come up opposite Parliament House. EFG Bank is taking space that’s three times the size of its existing premises
EFG has naming rights for the freehold building, which is expected to be ready in the first quarter n...
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