Hundreds of Singapore and Malaysia investors duped of millions by property company

According to an ABC report, Macro Realty Developments Pte Ltd is controlled by Australian Veronica Macpherson (picture) and received over A$110 million (S$119 million), mostly from Singaporean and Malaysian investors. (via asiaone.com)

PETALING JAYA – Singaporean police are investigating a property company believed to be involved in a ponzi scheme that conned hundreds of Malaysians investors out of millions.

According to an ABC report, the company is controlled by Australian Veronica Macpherson and received over A$110 million (S$119 million), mostly from Singaporean and Malaysian investors.

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Property agency and agent fined over sale of NZ property

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SINGAPORE — The Council for Estate Agencies’ (CEA) Disciplinary Committee has slapped a $10,000 fine on real estate agency SQFT Global Properties Singapore for failing to supervise the conduct of its then agent on the sale and marketing of a New Zealand property in 2011.

The agent, Ms Paleenia Wong Mui Wah, was fined $6,000 for misrepresentation towards an investor of a unit in Albany Heights Villas, Auckland, said the CEA in a media release issued yesterday.

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Singapore prime homes a good buy now: JLL

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SINGAPORE : A new JLL report is extolling the virtues of buying a prime residential property in Singapore now, given how “affordable” they have become compared to other global cities in the last four years. This is in spite of the loan curbs and tax burdens in place.

The real estate consultancy estimates that the average luxury prime residential price of S$1,991 per square foot (psf) in the fourth quarter of 2015 is about 20 per cent off the peak in 2011.

This is the biggest correction across domestic asset classes in the last four years. Office, retail and industrial property prices have fallen 4-6 per cent; suburban residential prices are down 12 per cent.

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Resale prices of private homes dip 0.3% in February

Prices dropped 1.6 per cent on a year-on-year basis, according to flash estimates by SRX Property.

SINGAPORE — Prices of non-landed private homes sold on the resale market dipped 0.3 per cent in February compared with the previous month, amid a fall in the number of units sold, according to a local property index.

Resale prices remained constant in the Core Central Region, while the Rest of Central Region rose slightly to 0.1 per cent. The Outside Central Region dropped 0.8 per cent, according to flash estimates from SRX Property on Tuesday (Mar 8).

Overall, prices were down 1.6 per cent from a year ago.

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China’s slowdown might hit home — your home?

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By Peter Pham, forbes.com

If you live in certain parts of the world, China’s economic problems might soon be coming to your front doorstep – literally.

Often overlooked in China’s explosive economic growth is its effect on global residential real. As the Chinese economy slows, housing markets in the U.S., Canada, Australia, Singapore and Hong Kong will feel it, if they aren’t already. And if the government makes it harder for money to leave the country, these real estate markets will notice it even more.

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Impact of rising US interest rates to property investments in Singapore

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By Istvan Loh,sbr.com.sg

The US economy is doing well and the Federal Reserve has raised interest rates for the first time in almost a decade in a bid to tighten money supply.

While the rate increase was small at 0.25% per year and widely anticipated, it is highly likely that more increases will follow. As the liquidity in the US financial market is reduced, there could be far-reaching implications on the global economy.

Singapore property investments will also be impacted by the Fed’s new policy as interest rates here mirror the increase in the US.

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Sales of Singapore properties to foreigners fall to 7-year low

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SINGAPORE : Foreigners including the Chinese have cut their purchases of Singapore private homes to the lowest since the global financial crisis, leaving the market to depend on local buyers at a time when domestic interest rates are on the rise.

Foreigners, including permanent residents, bought 499 homes in the fourth quarter of 2015, according to data compiled by consultancy DTZ. That accounted for about 16 per cent of total transactions versus more than 30 per cent in the third quarter of 2011 just before an additional stamp duty was imposed to cool the market.

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