Ascott continues expansion in North America
By Shabnam Muzammil: The Ascott Limited (Ascott), the serviced residence business unit of CapitaLand, is set to grow its presence in North America through a partnership with luxury serviced residence provider AKA. The firm has also appointed the established Serviced Apartments Worldwide (SAW) as...
Continue Reading • 30 Jan 2013
700,000 new homes by 2030: Govt White Paper
By Romesh Navaratnarajah: To meet the needs of a growing population, the government aims to ensure Singaporeans have affordable and quality housing by 2030, according to its new population White Paper released yesterday. “Our housing estates will be planned comprehensively to meet the...
Continue Reading • 30 Jan 2013
2012 a record investment year for Singapore
By Romesh Navaratnarajah: Singapore attracted S$16 billion worth of fixed asset investments in 2012, up 16 percent from the previous year, attributed mainly to strong investor interest and confidence in Asia, according to the Economic Development Board (EDB).In a statement, the government agency...
Continue Reading • 29 Jan 2013
Is Singapore considered artificial?
By Shabnam Muzammil:The Urban Land Institute (ULI) and Centre for Liveable Cities (CLC) has launched a new publication which promotes the idea that urban density does not have to compromise liveability and sustainability, if development policies that emphasize a “people-first” focus...
Continue Reading • 25 Jan 2013
2013 a challenging year for Keppel Land?
By Romesh Navaratnarajah: Private home prices in Singapore climbed 2.8 percent year-on-year in 2012, down from 5.9 percent in 2011, according to flash estimates from the Urban Redevelopment Authority (URA). At the same time, over 22,000 residential units were sold last year breaking the previous...
Continue Reading • 24 Jan 2013
Construction on Q Bay Residences to begin in April
By Romesh Navaratnarajah: KSH Holdings Limited has secured a S$142.3 million contract to construct the Q Bay Residences condominium project (pictured) in Tampines.The contract was awarded by Quarry Bay, a consortium comprising Frasers Centrepoint, Far East Organization and Sekisui House.Scheduled...
Continue Reading • 22 Jan 2013
Mixed views on govt's marriage & parenthood policy
By Shabnam Muzammil and Romesh Navaratnarajah: The government has launched a new marriage and parenthood policy that some experts feel is well-thought of and will promote a conducive environment for couples to get married in Singapore. Housing is an important part of the Parenthood Priority...
Continue Reading • 21 Jan 2013
Ex-agent slapped with jail time
By Romesh Navaratnarajah: A former property agent who pleaded guilty to stamp duty fraud will face a jail term of two weeks, ruled a district court. According to reports, Koh Siew Buay collected a sum of S$1,028 in stamp duty from the tenants of the three premises she was handling. But she listed...
Continue Reading • 21 Jan 2013
200,000 housing units in the pipeline
By Romesh Navaratnarajah:The government is planning to launch a massive stock of some 200,000 new housing units by 2016. This is equivalent to the building of four new Ang Mo Kio towns. National Development Minister Khaw Boon Wan announced this in his latest blog post this afternoon. He noted...
Continue Reading • 18 Jan 2013
Ascott joins forces with China developer
By Cheryl Tay: The Ascott Limited (Ascott) has partnered with Chinese developer Yuexiu Property Company Limited to strengthen its foothold in China. Under the deal, the Guangzhou-based developer will use its strong presence and expertise to build serviced residences in China, while Ascott will...
Continue Reading • 17 Jan 2013
Singapore cooling: What would you do?
By Andrew Batt: Opinion is divided as to whether the latest round of property cooling measures in Singapore will have the desired effect of “ensuring a stable and sustainable property market".Some analysts are predicting a slowing of both transactions and prices, while others believe...
Continue Reading • 16 Jan 2013
Govt finalising singles policy
By Romesh Navaratnarajah:National Development Minister Khaw Boon Wan revealed that his ministry is now in the final stage of revising the policy that will allow singles to acquire new HDB flats solely for owner-occupation, reported The Straits Times.“We aim to get it implemented this...
Continue Reading • 16 Jan 2013
Singapore cooling: Mortgage loans could drop up to 20%
By Romesh Navaratnarajah: Singapore’s broad range of new property curbs is an indication that the government is willing to trade off economic growth for social issues, said DBS Chief Executive Piyush Gupta (pictured).The official forecast for GDP growth this year is between one and three...
Continue Reading • 15 Jan 2013
Singapore cooling: Khaw grilled over EC scheme
By Romesh Navaratnarajah: In Parliament yesterday, MPs questioned National Development Minister Khaw Boon Wan about the executive condominium (EC) scheme and whether the government will review the EC policy and implement tighter measures to regulate the market.Mr Khaw shared that ECs are still...
Continue Reading • 15 Jan 2013
New cooling measures for Singapore
By Romesh Navaratnarajah: Singapore has introduced new property cooling measures which are set to take effect tomorrow. The government's aim is to control on-going speculation in the property market. This is the seventh and most extensive round of tightening measures and include higher buyer...
Continue Reading • 11 Jan 2013
UK mortgage to become cheaper: Fitch
By Cheryl Tay:Despite a credit squeeze, mortgage payments in the UK are expected to become more affordable in 2013, according to the Global Market Outlook for Housing and Mortgage Lending by ratings agency Fitch.The report stated that UK’s debt-to-income ratio has improved and is expected...
Continue Reading • 10 Jan 2013
Pasir Ris residents oppose plan to build school on forest grounds
By Cheryl Tay:The plan to build an international school near Pasir Ris Heights is facing great opposition from a group of residents who aim to protect the existing forest (pictured). They have called on the government to review its biodiversity and consider other alternative plots, reported The...
Continue Reading • 10 Jan 2013
Investors bullish on business prospects: survey
By Cheryl Tay:Singapore investors are now more upbeat about their investment outlook than they were six months to one year ago, a sign that the rally in the country’s bourse may continue in the coming months, revealed a survey by JP Morgan Asset Management.The JP Morgan confidence index,...
Continue Reading • 10 Jan 2013
US mortgages still near record lows
By Romesh Navaratnarajah: The average rate of fixed loans in the US hovered near historical lows this week, a trend that has made homes more affordable and contributed to a housing recovery, reported the Associated Press.According to mortgage giant Freddie Mac, average 30-year fixed loans dipped...
Continue Reading • 8 Jan 2013
Khaw addresses issue of pricey ECs
By Romesh Navaratnarajah:In his latest blog post, National Development Minister Khaw Boon Wan has spoken out on the recent controversy over the sale of expensive executive condominium (EC) units, like the 4,349 sq ft presidential suite at CityLife EC in Tampines that was sold for over S$2...
Continue Reading • 7 Jan 2013