Residential sector led decline in investment sales
Total investment sales value declined by 10.9 percent quarter-on quarter (QoQ) to $4.98 billion in Q2 2014 after rebounding 26.6 percent QoQ to $5.59 billion in 1Q 2014, according to a new report by Colliers International. The total investment sales value for H1 2014 also dropped by 43.6 percent...
Continue Reading • 11 Jul 2014
China-based developer offers IPO for SGX listing
A Chinese property developer has launched its initial public offering (IPO) on the mainboard of the Singapore Exchange of 34.05 million shares at $1.50 each. First Sponsor Group Limited (FSGL), a real estate player with ties to Hong Leong Group, will allocate about 3.8 million shares to the...
Continue Reading • 11 Jul 2014
Salesperson fined for dual representation
Tan Kok Wah David has been fined for representing both the landlord and the tenant in a property rental transaction. According to the Council for Estate Agencies (CEA), he had collected commission from the tenant and the landlord amounting to $8,800, and was sentenced to a $12,000 fine, in...
Continue Reading • 11 Jul 2014
Chinese looking at NW London
High-end London real estate agent Aston Chase has seen a recent surge in interest from Asia - with three significant sales to Chinese individuals in as many months. The most notable being a stunning detached house on Elm Tree Road in London's St John’s Wood, NW8 (pictured) with a...
Continue Reading • 11 Jul 2014
Printworks in Singapore spotlight
Galliard Homes, in conjunction with Singapore real estate agent JLL, will be showcasing its latest project to London property buyers and investors in the city-state this weekend.The Printworks, at Clapham Road in London’s SW9, will be exhibited in Singapore at St Regis Hotel Senator Room...
Continue Reading • 11 Jul 2014
Experts agree time to buy Thailand is now
With this question on the lips of many, experts from Thailand spoke exclusively to PropertyGuru.com.sg. to give their views as to whether now is the right time to buy property in the Kingdom, and offer words of advice to anyone reconsidering their options after last month’s military...
Continue Reading • 11 Jul 2014
MIPIM: EcoHouse Award not paid
EXCLUSIVE: When overseas property developer EcoHouse won the Best Brazilian Project for its Bosque Das Acacias development at the MIPIM Awards in March, the news was treated with both scepticism and irony by many of the Singapore developers still waiting for either the return of their capital or...
Continue Reading • 10 Jul 2014
Ongoing engagement on Johor reclamation plans
Singapore has been engaging Malaysia on reclamation plans in Johor, which has sparked concerns on the transboundary and environmental impact. The city-state was not given prior information on two reclamation projects that are in close proximity to Singapore, said Senior Minister of State for...
Continue Reading • 10 Jul 2014
Master Plan includes feedback from public
The Ministry of National Development (MND) received 402 pieces of written feedback on the Draft Master Plan 2013 during the exhibition period between 20 November and 19 December 2013.Most of them were regarding housing and transport issues, while some were on issues such as economy, heritage,...
Continue Reading • 10 Jul 2014
Offshore property investments reached $2 billion
The value of overseas property purchases by Singaporeans have risen to $2 billion last year from $1.4 billion in 2012, according to Mr Lawrence Wong, Minister for Culture, Community and Youth.Given the increase, the Monetary Authority of Singapore (MAS) “is concerned that some individuals...
Continue Reading • 10 Jul 2014
Some seniors allowed to use CPF Retirement Account for housing
Manpower Minister Tan Chuan-Jin said the government has been flexible, “where a case merits it”, in allowing the CPF Retirement Account (RA) to be used to repay housing loans, reported the media.In fact, out of 10 people aged 55 and above, only one is still using CPF savings to pay...
Continue Reading • 10 Jul 2014
Bulk Sale for Balmoral luxury condo
UPDATED: Treasure on Balmoral (pictured) is up for sale by Expression of Interest (EOI), announced Savills today. The freehold residential development, located in the prime Balmoral enclave in District 10, is developed by Hiap Hoe Group. Launched in January last year, it comprises...
Continue Reading • 9 Jul 2014
Tay Kah Poh returns to Knight Frank Singapore
Tay Kah Poh (pictured) has joined Knight Frank Singapore as Executive Director of Agency Services, and will oversee all Residential, Office, Industrial and Retail Services.He spent 12 years with Knight Frank Singapore between 1993 and 2005. During that time, he held key positions including the...
Continue Reading • 9 Jul 2014
Conference to push the green agenda
The International Green Building Conference (IGBC) and Build Eco Xpo (BEX) Asia will run from 1 to 3 September 2014 at the Marina Bay Sands Expo & Convention Centre.These events are hosted by Building and Construction Authority of Singapore (BCA), in partnership with Reed Exhibitions. Both...
Continue Reading • 9 Jul 2014
Tharman: Property market unlikely to crash
Deputy Prime Minister Tharman Shanmugaratnam said the property market will unlikely crash since the government took action quick enough, reported the media.“I don't think the industry will crash, because we moved early enough, and we moved each step of the game, knowing full well that what...
Continue Reading • 9 Jul 2014
Govt wants public's opinion on stamp duties
The Ministry of Finance (MOF) will be conducting a public consultation on the draft Stamp Duties (Amendment) Bill 2014. The bill provides for three changes to the Stamp Duties Act. The first two involve changes to existing stamp duty administration from ongoing reviews of the stamp duty system....
Continue Reading • 9 Jul 2014
GPS Alliance will not acquire Forte Development
Global Property Strategic Alliance (GPS)’s bid to acquire a Singapore property developer collapsed even before it kicked off, said media reports.On 2 June, GPS, a mid-sized real estate agency that operates here but is listed in Australia, announced that it will acquire Forte Development for...
Continue Reading • 9 Jul 2014
Outlook for Singapore banking system remains negative
Moody’s investment service said Tuesday (8 July) that its outlook on Singapore’s banking system remains “negative” for the next 12 to 18 months.Moody’s noted in a statement that accompanied the report “Banking System Outlook Singapore,” that the risk of...
Continue Reading • 8 Jul 2014
779 EC units unsold: MND
As of end May 2014, 779 executive condominium (EC) units had been launched and remained unsold. The Ministry of National Development (MND) revealed this following a written query at yesterday’s parliament session. In the next 18 months, about 6,800 EC units are expected to be launched. The...
Continue Reading • 8 Jul 2014
Govt eyes to amend Land Acquisition Bill
The government has proposed to amend the Land Acquisition Bill, which could see landowners receive better compensation when their land is compulsorily acquired by authorities for development, said media reports.Among the proposed changes is abolishing the Betterment Levy, which is the levy...
Continue Reading • 8 Jul 2014