Property prices not top concern for companies
By Romesh Navaratnarajah: The majority of companies with their regional headquarters in Singapore do not see property prices as an issue, but more than half see the high cost of living/inflation as a major issue, according to the 2013 Asia Business Outlook Survey by the Economist Corporate...
Continue Reading • 7 Jan 2013
Brighter outlook for world economy in 2013: report
By Romesh Navaratnarajah: Encouraging developments in the global economy seen at the end of 2012 has offered a brighter outlook for this year, according to a report by Henderson Global Investors. Reduced expectations over economic growth and company earnings could make way for pleasantly...
Continue Reading • 4 Jan 2013
CapitaLand makes key changes
By Romesh Navaratnarajah: To further accelerate growth and sharpen its focus on key markets, property giant CapitaLand will realign and simplify its organisational structure into four main businesses: CapitaLand Singapore, CapitaLand China, CapitaMalls Asia (CMA) and The Ascott Limited...
Continue Reading • 3 Jan 2013
Improvements to elderly housing schemes
By Romesh Navaratnarajah: In response to public feedback and suggestions, the Ministry of National Development (MND) has enhanced the Silver Housing Bonus (SHB) and Enhanced Lease Buyback Scheme (LBS) for the elderly.“We need to strike a balance between improving retirement adequacy by...
Continue Reading • 28 Dec 2012
Major upgrades planned for 8 private estates
By Romesh Navaratnarajah: More than 7,000 households from eight private estates will undergo S$29 million worth of upgrading under the Estate Upgrading Programme (EUP) by the Ministry of National Development (MND).Over the next two years, the estates of Goldhill, Cashew and Hazel Park Terrace,...
Continue Reading • 27 Dec 2012
Sysma marks foray into property development
By Romesh Navaratnarajah:Catalist-listed Sysma Holdings Limited has signed an agreement to acquire 100 percent interest in De Paradiso Development, a private investment holding company that owns two land parcels in Serangoon.Following the acquisition, Sysma will obtain ownership of both plots. De...
Continue Reading • 26 Dec 2012
Agent prosecuted for moneylender referrals
By Romesh Navaratnarajah: The Council for Estate Agencies (CEA) has charged the first agent involved in money lender referrals. Six charges were filed against 38-year old Ghazali Bin Mohamed Rasul, a registered agent with PropNex Realty who allegedly referred clients to a moneylender and received...
Continue Reading • 24 Dec 2012
PropertyGuru: The undisputed leader
By Romesh Navaratnarajah:PropertyGuru is undisputedly the number one property portal and market leader for online property research in Singapore, based on data from top website monitoring agencies Google, Alexa, Comscore, Hitwise and Effective Measure.According to Google, PropertyGuru has...
Continue Reading • 24 Dec 2012
HK's hot market could impact home loans
By Romesh Navaratnarajah:Hong Kong’s sizzling property market may prevent home buyers from servicing their mortgages, according to the Hong Kong Monetary Authority (HKMA).If home buyers are forced to borrow too much compared to their income, the city’s overheating market –...
Continue Reading • 20 Dec 2012
BBR Holdings wins HDB contracts
By Romesh Navaratnarajah:BBR Holdings has secured two contracts to build 1,282 HDB units at Kallang Whampoa and Sengkang, reported The Business Times.Valued at S$182.9 million, the contracts were obtained through subsidiaries Singapore Piling & Civil Engineering and Singa Development. The...
Continue Reading • 20 Dec 2012
US housing activity to heat up
By Romesh Navaratnarajah: Although economic activity in Q3 2012 slowed down, mortgage and home buying activity in the US is predicted to climb in 2013, according to a report by Fannie Mae.“With data pointing to soft economic conditions and the fiscal policy debate hanging in the balance, we...
Continue Reading • 19 Dec 2012
Many UK mortgage borrowers overpaying
By Romesh Navaratnarajah: Some 33 percent of all home loans taken out in the UK since 2005 were overpaid, with mortgage holders forking out £31 billion (S$61 billion) in extra payments, according to the Council of Mortgage Lenders (CML). Thanks to nearly four years of historically low...
Continue Reading • 17 Dec 2012
US mortgage rates fall further
By Romesh Navaratnarajah: The average rate for 30-year fixed loans in the US declined to 3.32 percent this week compared to 3.4 percent previously, according to McLean, Virginia-based Freddie Mac (FMCC). The average 15-year rate also slipped from 2.67 to 2.66 percent, Bloomberg reported. The US...
Continue Reading • 14 Dec 2012
What will happen in 2013? Find out in The PropertyGuru
By Romesh Navaratnarajah:The PropertyGuru, Singapore's only dedicated property newspaper today published its final issue of 2012.As the top story, PropertyGuru's regional editorial teams in Singapore, Indonesia, Malaysia and Thailand spoke to real estate experts from around the world for their...
Continue Reading • 14 Dec 2012
Govt continues push to provide housing
By Romesh Navaratnarajah: Singapore will continue to ramp up housing supply in the coming year, with the Ministry of National Development (MND) today announcing the Government Land Sales (GLS) Programme for the first half of 2013.The sites are expected to generate 14,000 private homes, including...
Continue Reading • 14 Dec 2012
Economy to grow slowly this year and next
By Romesh Navaratnarajah: Singapore’s economy is expected to rise 1.5 percent this year, according to a survey of 21 forecasters by the Monetary Authority of Singapore (MAS).The projection is notably lower than the 2.4 percent seen from the last survey in August and three percent in May,...
Continue Reading • 13 Dec 2012
Singapore Asia's 8th most expensive city
By Romesh Navaratnarajah:Singapore has dropped two places to eighth spot on the list of most expensive locations in Asia for expatriates, according to the latest Cost of Living survey by ECA International.Globally, it maintained its 31st position due to the movements of other locations. ...
Continue Reading • 13 Dec 2012
Rogue agent slapped with S$21K fine
By Romesh Navaratnarajah: The Council for Estate Agencies (CEA) has punished an unregistered property agent with a fine of S$21,000 for violation of the Estate Agents Act. 59-year old Lum Chap Heng was charged last month for posting flyers with his mobile number in public places, advertising for...
Continue Reading • 13 Dec 2012
PropertyGuru blood donation drive a success
By Romesh Navaratnarajah: PropertyGuru, Asia’s leading property portal successfully hosted ‘Gift Life’, a regional blood donation drive that saw a number of people, including members of the public donate blood earlier today.Several of PropertyGuru’s over 200 employees from...
Continue Reading • 12 Dec 2012
Fallen window cases hit new high
By Romesh Navaratnarajah: A total of 37 cases of fallen casement windows were recorded from January to November this year, according to statistics from the Housing and Development Board (HDB) and Building and Construction Authority (BCA). Since 2010, reports of fallen windows have been increasing...
Continue Reading • 12 Dec 2012