URA releases 2007 Q3 Private Residential Property Prices

[Link here]

Highlights:

"Based on the estimated price index of private residential property, prices rose from 147.8 points in the 2nd Quarter 2007 to 159.6 points in the 3rd Quarter 2007. This represents an increase of 8.0%, compared with the 8.3% increase in the previous quarter."

"URA also released today the flash estimates of the price changes in the 3 geographical regions for 3rd Quarter 2007. Prices of non-landed private residential properties increased by 8.3% in Core Central Region, 7.7% in Rest of Central Region and 8.1% in Outside Central Region in the quarter."

"The Government will continue to monitor prices closely. The Government is currently reviewing the Government Land Sales (GLS) Programme for 1st half of 2008 and will announce the details at the end of 2007."

[source: Urban Redevelopment Authority of Singapore, URA]

MAS' new guidelines for Property Trusts

SINGAPORE : New guidelines for Real Estate Investment Trusts (REITs) have been issued by the Monetary Authority of Singapore.

The changes are aimed at improving safeguards for investors and to provide greater clarity and flexibility for commercial transactions.

The new guidelines will enhance the disclosure requirements on the use of short-term yield-enhancing arrangements.

In addition, discounts will not be allowed for institutional investors when the trusts are listed and REITs will have to invest at least 75 percent of their assets in income-producing real estate.

In revising the guidelines, the MAS said it has considered public feedback and held talks with REIT players.

Singapore is now the largest REIT market in Asia outside Japan, with a total market capitalisation of more than S$26 billion. - CNA/ch


Source: ChannelNewsAsia.Com

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