Billionaire's son in bungalow rent row
A medical devices firm has been sued by Wee Ee-Chao, the son of one of Singapore’s wealthiest men Wee Cho Yaw, for allegedly not paying rent on a bungalow located near Orchard Road, according to media reports.In a lawsuit filed in Singapore's High Court, Wee and his wife claimed that...
Continue Reading • 28 Mar 2014
Real estate firms unprotected against fraud and corruption
The majority of global real estate and construction companies are not properly protected against fraud and corruption, according to the latest research from the Grant Thornton International Business Report (IBR). This comes amid warnings suggesting that such practices could account for as much as...
Continue Reading • 28 Mar 2014
Record price for Orchard office units
Four adjoining office units in Orchard Shopping Centre were sold for $8.55 million, or around $3,242 psf at a Knight Frank auction this week after fierce competition from two bidders. This is a record price for the development and for the Orchard area to date in 2014. Last year a 667 sq ft unit...
Continue Reading • 27 Mar 2014
3 land sites released by govt
To provide developers and home buyers with more housing options, the HDB and URA announced on Thursday that three residential sites will be released for sale in March, which could yield about 1,300 units. The sites are being released under the 1H2014 Government Land Sales (GLS) Programme and are...
Continue Reading • 27 Mar 2014
CBRE names new CEO for Asia Pac
Property consultancy CBRE has a new head in the Asia Pacific. Daniel Queenan (pictured) has immediately assumed the responsibilities of Chief Executive Officer and will lead the operational management of the region. Previously, Queenan was CBRE's Chief Operating Officer for Asia Pacific as of...
Continue Reading • 27 Mar 2014
World's first $1m virtual property
Singapore-based game developer Planet Arkadia is offering investments in what is believed to be the world’s first million dollar virtual property.The company is offering players of the Entropia Universe game the chance to invest in 200,000 deeds priced at US$5.00 each – or PED 50...
Continue Reading • 27 Mar 2014
Philippines 'attractive' for investors
The Philippines will continue to be one of the most attractive real estate investment markets in Asia, according to the Vice President of KMC MAG Group, the local affiliate of the Savills real estate firm.Speaking to journalists yesterday, Yves Luethi said Manila is very attractive to property...
Continue Reading • 27 Mar 2014
Saturation concerns in suburban Bangkok
Asking prices for property in downtown Bangkok rose by three percent in the final three months of 2013, however concerns have been raised about saturation levels in some parts of the Thai capital’s suburban districts.In its Bangkok Residential Marketview Q4 2013 report, published...
Continue Reading • 27 Mar 2014
Why Istanbul property is booming
Property prices in the Turkish city of Istanbul have risen more than 20 percent in the last 12 months alone, but what’s driving the boom in real estate there?According to the Istanbul-based property firm Universal 21, the city outpaced all others in Turkey for property price growth, and was...
Continue Reading • 27 Mar 2014
GCB land near Holland Village for sale
Three adjoining plots of Good Class Bungalow (GCB) land along Holland Rise and East Sussex Lane are up for sale through expression of interest (EOI), revealed Cushman & Wakefield.The vacant plots sit on a regular-shaped site totalling about 52,992 sq ft and are accessible via two cul-de-sacs...
Continue Reading • 26 Mar 2014
MCC Land launches The Santorini
The highly anticipated The Santorini (pictured) at Tampines Avenue 10 will launch this Saturday (29 March). Developed by MCC Land, the 597-unit condominium comprises one- to five-bedroom units of varying configurations, including penthouses. Close to 35 percent of the apartments are...
Continue Reading • 26 Mar 2014
S'pore developers in China unaffected by credit squeeze
Although Chinese developers are facing increasing financing costs on the back of concerns over potentially more defaults by debt-ridden local players, Singapore firms with strong China exposure are unlikely to be affected by the credit squeeze.This is because homegrown developers have strong...
Continue Reading • 26 Mar 2014
Controversial building set to launch
Britain’s most controversial and futuristic building will get its international launch later this week – and with it comes the country’s most expensive advertising billboards.With an asking price of £120 million (S$251 million), the four gigantic media screens at The...
Continue Reading • 26 Mar 2014
Savills in the saddle for charity
Real estate agency Savills has raised more than US$15,000 for charity by taking part in a 500 kilometre cycle ride in Vietnam.Four Savills’ staff undertook the three-day bike ride from Thanh My to Dong Ha and then to Da Nang to raise funds for Vietnam’s first international specialist...
Continue Reading • 26 Mar 2014
Sales rise for small units up to 800 sq ft
In 2013, small units of up to 800 sq ft accounted for 47.6 percent of non-landed private home sales by developers, up 43.4 percent from the year before.Caveats analysis by CBRE revealed this trend has gained more than 40 percent share since 2011. “This is a function of supply ... as...
Continue Reading • 25 Mar 2014
Asia-Pac investors to spend more
A significant majority of real estate investors expect to commit more capital to the Asia Pacific real estate market this year, according to a CBRE report.In its Asia Pacific Investor Intentions Survey 2014, which gauged the appetite and outlook of Asia-Pacific real estate investors for the rest...
Continue Reading • 25 Mar 2014
Aussie overseas buyers in the spotlight
Australian property purchases made by overseas buyers are in the spotlight amid fears that local buyers are being priced out of the market.A national parliamentary committee is examining the increase in overseas property buyers and investors, particularly those from China.Earlier this month,...
Continue Reading • 25 Mar 2014
Mortgage interest rate hike won't be big: economists
Although economists expect mortgage interest rates to rise, homeowners need not panic, media reports said.They explained that the end of quantitative easing policies in the US may result in rate hikes globally, including in Singapore. However, the US Federal Reserve is expected to raise its...
Continue Reading • 25 Mar 2014
Johor investors to face problems
Singapore speculators who were banking on making a quick profit from buying property in Johor, Malaysia, are likely to run into difficulties when the new RM1 million (approx. S$385,200) limit for foreign property purchases comes into effect on May 1.Many Singaporeans have been investing in...
Continue Reading • 25 Mar 2014
38 units at The Draycott up for sale
A total of 38 units at The Draycott apartment (pictured) are up for sale by expression of interest (EOI), according to marketing agent JLL. The 133-unit freehold development in the Ardmore Park/Claymore district has potential for en bloc sale. The portfolio for sale represents around 31 percent...
Continue Reading • 24 Mar 2014