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
District Watch: District 18
Talk to any eastsider in Singapore and you will notice an unmistakable sense of pride in his area of residence. In this issue of The PropertyGuru, Cheryl Tay tells you why.Comprising Pasir Ris, Simei and Tampines, District 18 is easily one of the most self-sustaining regions in Singapore. It...
Continue Reading • 5 Mar 2014
Singapore sub-sales at 8-year low
Speculation has all but disappeared from the Singapore property market, with the number of sub-sales recorded during January 2014 hitting an eight-year low.Data from the Urban Redevelopment Authority (URA) analysed by PropertyGuru yesterday revealed just 37 sub-sale transactions were recorded in...
Continue Reading • 5 Mar 2014
S'poreans take wait-and-see approach to Johor property
Despite the delayed implementation of the RM1 million (S$387,000) minimum property price threshold for foreigners in Johor, Singaporean buyers are unlikely to rush in, according to Khalil Adis, Founder of Khalil Adis Consultancy.He noted that Singaporeans are used to the orderly and uniform...
Continue Reading • 5 Mar 2014
MCL Land wins tenders for 2 EC sites
Two adjoining executive condominium (EC) sites in Choa Chu Kang Grove have been awarded to MCL Land (Brighton) after the developer submitted the highest bids of $232.5 million for Parcel A and $210.1 million for Parcel B, according to the housing board.Launched for tender on 16 December 2013,...
Continue Reading • 4 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
Johor's RM1m limit on foreign buyers takes effect May 1
The RM1 million (S$387,000) minimum price threshold for foreign property buyers in Johor will only take effect in May 2014 and applies to housing developments approved after that date, said Johor Chief Minister Datuk Seri Mohamed Khaled Nordin. But units at projects with prior planning permission...
Continue Reading • 3 Mar 2014
Development charge rates up
The development charge (DC) rates paid by developers to enhance a site or to build bigger projects on them have been raised by the Ministry of National Development for the period of March to August 2014. DC rates for Use Group A (Commercial) rose by an average of 15 percent, or ranging from 14 to...
Continue Reading • 3 Mar 2014
Oxley, Ballymore partner on London's Royal Wharf
Oxley Holdings has announced that it will be working with UK-based Ballymore Group to develop the Royal Wharf in East London, purchased late last year by the Singapore-listed developer. Ching Chiat Kwong, Chairman and CEO of Oxley said, “Our partnership has allowed us to make...
Continue Reading • 3 Mar 2014
Singapore at the frontier of skyrise greenery movement: Khaw
Cities around the world are greening upwards, with Singapore being one of the pioneers in the skyrise greenery movement, said National Development Minister Khaw Boon Wan in a blog post on Saturday.The city-state is currently home to 61ha of rooftop gardens.“This is no mean feat considering...
Continue Reading • 3 Mar 2014
RM1 million limit for foreign buyers in Malaysia effective today
With effect from today (March 1), foreigners can only purchase property in federal administered territories in Malaysia at or above RM1 million (S$387,000). But individual states have the right to decide when to implement the policy change, according to Malaysia's Economic Planning Unit...
Continue Reading • 3 Mar 2014
Prince Charles Crescent site launched for sale
A residential site (pictured) at Prince Charles Crescent (Parcel B) has been launched for sale by public tender to provide developers and home buyers with more housing options, said the Urban Redevelopment Authority (URA). Launched for sale under the confirmed list of the 1H2014 Government Land...
Continue Reading • 3 Mar 2014
Shoebox purchases by HDB addressees on the rise
Many HDB flat owners prefer shoebox units when it comes to purchasing private homes, according to a DTZ report.The share of shoebox units, or homes measuring less than 500 sq ft, bought by owners with public housing addresses increased to 62 percent in 2013 from 60 percent the year before....
Continue Reading • 28 Feb 2014
Private property rents may slip further
Despite a sluggish residential sales market, Singapore’s leasing market held firm in the fourth quarter of 2013 and for the entire year, revealed a Savills report.In Q4, leasing transactions increased 4.4 percent to 11,975 compared to the same period in 2012, while for the whole year it...
Continue Reading • 28 Feb 2014
SingHaiyi to develop luxury seniors' community in US
Singapore-listed SingHaiyi Group will acquire a land parcel in the San Francisco Bay area for US$24.4 million, with plans to build a high-end community for seniors.The 5TM development (pictured) will have a gross development value of around US$600 million. Located in the prestigious Candlestick...
Continue Reading • 27 Feb 2014
CDL posts lower earnings for Q4
Challenging conditions in the property market saw heavyweight City Developments (CDL) report thinner fourth quarter earnings.Revenue for Q4 2013 came in at $774 million, a 12.6 percent decline from the previous year. Net profit for the last three months ended 31 December decreased 11.4 percent to...
Continue Reading • 27 Feb 2014
HK follows S'pore by not relaxing cooling measures
According to media reports, Hong Kong’s property market is starting to moderate as a result of the government’s cooling measures. However, Financial Secretary John Tsang Chun-wah said the government would not ease the market curbs just yet. This despite the fact most of the...
Continue Reading • 27 Feb 2014
Book now for E&O Andaman event
Eastern & Oriental Bhd and Asia’s leading property portal, PropertyGuru, cordially invites you to attend a seminar that explores the investment potential of Andaman at Quayside, a luxury seafront project that forms part of Seri Tanjung Pinang (STP) in Penang Island.The Andaman...
Continue Reading • 27 Feb 2014