Ascott Reit adds Infini Garden to Japan portfolio
Ascott Residence Trust (Ascott Reit) has acquired a rental housing property in Fukuoka, Japan from The Ascott Limited (Ascott) and ArcResidential Japan Investments for 6.3 billion yen (approx. S$78.4 million).In a statement, Ascott Reit said that on a pro forma basis, the accretive acquisition...
Continue Reading • 24 Mar 2014
JLL again No.1 in region
JLL remained the top real estate investment advisory firm in Asia Pacific during 2013, according to Real Capital Analytics (RCA). The consultancy also ranked number one in the office, industrial, hotel and retail sectors. Last year, JLL's capital markets team advised on over US$21.5 billion...
Continue Reading • 21 Mar 2014
Economists foresee slightly slower growth
Singapore’s GDP is forecasted to grow 3.8 percent in 2014, according to economists in a quarterly Monetary Authority of Singapore (MAS) survey. This is an adjustment from the 3.9 percent growth predicted in the previous survey released in December.The government’s 2014 forecast for...
Continue Reading • 20 Mar 2014
CapitaLand sells remaining stake in Australand
Singapore-based CapitaLand has announced that it placed out its remaining 226.2 million stapled securities in Australand Property Group (Australand).This is about 39.1 percent of total issued stapled securities in a secondary placement exercise, which was executed at an average price of AU$3.75...
Continue Reading • 19 Mar 2014
More money for real estate execs
Real estate executives in Asia are better paid than their European counterparts, according to a new survey.Asia-based respondents in the survey of corporate real estate professionals working for large corporations found that, on average, the Regional Head of Corporate Real Estate in Asia received...
Continue Reading • 18 Mar 2014
CEA launches online consumer guide on overseas property
To help prospective buyers make better informed decisions on overseas property purchases, Singapore's Council for Estate Agencies (CEA) on Monday published an online consumer guide on its website. Aptly called "Consumer Tips for Buying Foreign Properties", this is in response to a...
Continue Reading • 17 Mar 2014
More Taiwanese on the lookout for Japan property
The weakening yen has boosted interest for Japan properties among Taiwanese investors, with transactions growing significantly over the past year. With economic policy changes also taking effect, real estate in Japan has become significantly more affordable. Amid all this, ECG Property, a...
Continue Reading • 14 Mar 2014
Ascott celebrates milestone, makes Myanmar foray
CapitaLand's serviced residence business unit, The Ascott Limited (Ascott), is marking its 30th anniversary this year.The firm opened its first property in Singapore back in 1984 and has since expanded to 83 cities across 23 countries. In a statement, its CEO Lee Chee Koon said: “As...
Continue Reading • 13 Mar 2014
S'poreans less worried about housing?
Prime Minister Lee Hsien Loong noted how the Ministry of National Development (MND) had fewer cuts (items raised by MPs for discussion) in this year’s Committee of Supply debate compared to previous years, “which hopefully shows that people are less worried about housing!”In a...
Continue Reading • 12 Mar 2014
Motorcyclists using HDB, URA carparks to be charged per minute
The Ministry of National Development (MND) will revise the Electronic Parking System (EPS) rates for motorcyclists using HDB and URA carparks to a per-minute basis.An enhanced Season Parking Ticket (E-SPT) will also be introduced to allow motorcyclists to park in all HDB and URA carparks for a...
Continue Reading • 11 Mar 2014
New productive technology rules may cost developers
In order to improve their efficiency on a global scale, Singapore developers will be required to adopt productive technologies for selected Government Land Sale (GLS) sites by 2H2014, said the Ministry of National Development (MND) and reported in the media.These include the use of...
Continue Reading • 11 Mar 2014
Govt looking into reverse mortgage to help seniors
The elderly population in Singapore are adjusting their housing needs as they enter their retirement age.Since 2011, 5,600 elderly households have booked studio apartments while 70 received their Silver Housing Bonus (SHB) of up to $20,000 in cash. Another 390 took up the Enhanced Lease Buyback...
Continue Reading • 11 Mar 2014
More help for the vulnerable to buy flats
The Ministry of National Development (MND) has revealed that 1,860 first-timer low-income families bought a new HDB flat over the last three years, with help from the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG). Last year, 60 divorcees or widowed persons with children...
Continue Reading • 11 Mar 2014
Khaw warns of risks in buying overseas property
The Council for Estate Agencies (CEA) will launch an online consumer guide comprising tips and information on buying overseas properties. It will advise potential buyers on key considerations, such as understanding the rules and laws governing the sale and purchase of such properties, taxes...
Continue Reading • 11 Mar 2014
Forbes: Singapore's richest in 2014
This year’s Forbes list of the world’s billionaires includes 16 entries from Singapore with property players topping the list yet again. Far East Organizations’ Philip Ng and his brother Robert Ng (pictured) retain the top spot in Singapore (#106 globally), with an increased net...
Continue Reading • 6 Mar 2014
Expat focused surveys not reflective of costs for locals: Tharman
While the findings of the latest Economist Intelligence Unit (EIU) report serves as a useful tool for HR managers and corporate HQs, it does not necessarily reflect the cost of living for an ordinary local in Singapore, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. The...
Continue Reading • 6 Mar 2014
S'pore is 3rd global city for super-rich
Singapore retained its position as the 3rd most important global city for Ultra High Net Worth Individuals (UHNWIs) in 2014 behind New York and London, according to the latest Knight Frank Wealth Report.But the city-state is top for UHNWIs in Asia, beating out Hong Kong which took 4th spot...
Continue Reading • 6 Mar 2014
Economists downplay Singapore's most expensive ranking
Economists have debated the findings of a bi-annual survey conducted by the Economist Intelligence Unit (EIU), which named Singapore as the world’s most expensive city, media reports said.They warn against extrapolating that the cost of living for Singaporeans has also skyrocketed since...
Continue Reading • 5 Mar 2014
Jones Lang LaSalle shortens name to JLL
Global property consultancy Jones Lang LaSalle has shortened its name to just “JLL” and changed its logo at the same time.In a statement on Tuesday, the Chicago-based firm said the shorter name and new logo are easily recognised and visible in countries around the world, memorable and...
Continue Reading • 4 Mar 2014
Singapore named world's most expensive city: Economist Intelligence Unit
Singapore is now ranked as the most expensive city in the world, according to new research published today by The Economist Intelligence Unit (EIU) in its Worldwide Cost of Living survey.Price rises and a stronger currency mean that Singapore now has the “dubious” claim to the title...
Continue Reading • 4 Mar 2014