Thai crisis impacts local buyers
Singapore property buyers and investors have been dragged into the ongoing political tensions in Thailand following an announcement on Wednesday by the leader of the People’s Democratic Reform Committee (PDRC) to withdraw investments from companies related to the Shinawatra...
Continue Reading • 21 Feb 2014
Ascott Reit acquires first Dalian property for S$118.6m
Ascott Residence Trust (Ascott Reit) has entered into an agreement with Winner Sight Investments Limited to purchase its first serviced residence in Dalian, China for RMB571 million (S$118.6 million) at an EBITDA yield of 5.5 percent. The accretive acquisition is expected to increase FY2013...
Continue Reading • 21 Feb 2014
GCB market picking up pace in 2014
The good class bungalow (GCB) market is on the road to recovery, with at least six transactions amounting to $170 million recorded since January 2014, according to media reports.For instance, philanthropist Saw Swee Hock sold his two-storey mansion at Bin Tong Park for $31.5 million. This works...
Continue Reading • 21 Feb 2014
Residential investment sales sank last quarter
Total residential investment sales slumped to $862.4 million in Q4 2013 from $2 billion in the previous quarter due to the debilitating effects of the additional buyer’s stamp duty (ABSD) and Total Debt Servicing Ratio (TDSR) framework, according to Savills.During the last three months of...
Continue Reading • 21 Feb 2014
Property market to face more challenges: CapitaLand
Singapore’s housing market is expected to face further pressure given the government’s repeated efforts to rein in property prices, said CapitaLand’s CEO Lim Ming Yan who was quoted in the media.“In the short term, with all the policy measures we see the residential market...
Continue Reading • 21 Feb 2014
CapitaLand delays launch of Marine Parade project
With the housing market badly hit by the government’s Total Debt Servicing Ratio (TDSR) ruling, property heavyweight CapitaLand has pushed back the launch of its condominium project in Marine Parade which was originally planned for late 2013, media reports said.Speaking at the group’s...
Continue Reading • 21 Feb 2014
No Asia sales for Battersea's second phase
The second phase of the iconic Battersea Power Station project in London will not be sold at roadshows in Southeast Asia, the developer has confirmed.The project, which is being developed by the Malaysian consortium of SP Setia, Sime Darby and the Malaysia Employees Provident Fund, achieved...
Continue Reading • 20 Feb 2014
Spain, Portugal property in the spotlight
Following favourable enquires from its clients about property investment opportunities in Europe, Singapore-based Premiere Realty is organising a “Flavours of Portugal and Spain” event today (February 20) to introduce investors to real estate opportunities in the Iberian...
Continue Reading • 20 Feb 2014
Singapore is top Asian city for quality of living
Singapore has been ranked as the best in Asia and 25th globally for its quality of living in a new report.Interestingly the city-state’s position in Asia and globally has remained the same since last year’s report.The annual Mercer Quality of Living report, published today, helps...
Continue Reading • 20 Feb 2014
URA launches new property app
Those looking to buy or lease a property can now access URA’s online database for free, said National Development Minister Khaw Boon Wan. In a blog post, the Minister revealed that URA has launched a new map-based application that will allow users to retrieve detailed records about a...
Continue Reading • 19 Feb 2014
Novena apartment up for en bloc sale
A walk-up apartment in the Novena area has been put up for collective sale by public tender, according to marketing agent CBRE. The 16-unit development at 165-165Q Moulmein Road (pictured) has a land area of 16,935.9 sq ft and a plot ratio of 1.4. The gross floor area (GFA) amounts to 26,081 sq...
Continue Reading • 19 Feb 2014
Trump Las Vegas sees significant interest from Asian buyers
Sales of apartment units at the 64-storey Trump Las Vegas (pictured) have increased five-fold after the property was re-launched in 2012, revealed Trump Organization. Centrally located along the iconic Las Vegas strip, the luxury hotel condominium comprises 1,232 studio and one-bedroom suites and...
Continue Reading • 19 Feb 2014
More than 200 units sold at Riverbank @ Fernvale
The Riverbank @ Fernvale condominium (pictured) in Sengkang has sold more than 200 of the initial 250 units released last Friday under the first phase, said a UOL spokesperson. “One-bedders and two-bedders were the most popular, and 10 out of the 17 five-bedders at the project have been...
Continue Reading • 19 Feb 2014
CapitaLand's Q4 profit falls 45% on one-off loss
Property giant CapitaLand reported a 45.6 percent decline in profit after tax and minority interest (PATMI) in Q4 2013, primarily due to a one-off loss on the sale of a stake in Australand.On a yearly basis, the group’s PATMI dropped 8.7 percent to $849.8 million from $930.3 million in...
Continue Reading • 19 Feb 2014
Property firms caught breaching Do-Not-Call rule
Property companies are among those that have been censured by the Personal Data Protection Commission (PDPC) for breaching the Do Not Call (DNC) Registry requirements under the Personal Data Protection Act 2012.Investigations have been taken in response to 1,500 complaints from the public...
Continue Reading • 18 Feb 2014
Modest rise in private home sales
New private home sales increased 54 percent during January to reach 565 units, according to public data published today by the Urban Redevelopment Authority (URA).Including executive condominiums (ECs), 610 units were sold last month compared to the 333 homes taken up in December 2013 which was a...
Continue Reading • 18 Feb 2014
New private home sales may fall 20-30% in 2014
Developers launched more residential units and recorded higher sales last month compared with December 2013. However, the numbers remain relatively low say experts, an indication that the market is still reeling from the impact of the Total Debt Servicing Ratio (TDSR) framework. Excluding...
Continue Reading • 18 Feb 2014
Golf course redevelopment could yield 16,000 housing units
The government’s move not to renew the leases of Marina Bay Golf Course and Keppel Club is not down to land scarcity, but is about freeing up land in the prime and central areas. “In my opinion, land is not that scarce yet as Singapore still has a decent amount of land available...
Continue Reading • 18 Feb 2014
Ascott names new MD for Europe and India
CapitaLand’s serviced residence unit, The Ascott Limited (Ascott), has appointed Alfred Ong as Managing Director for Europe and India. Mr Ong, 50, will be responsible for managing Ascott’s assets and growing its hospitality business in those two areas. Since joining the company 15...
Continue Reading • 17 Feb 2014
DBS chief says property prices to drop 10-15%
Housing prices in Singapore are expected to fall by 10 to 15 percent this year exceeding the 10 percent drop forecasted by property analysts, according to Piyush Gupta, Chief Executive Officer of DBS Bank who was quoted in the media. However, the decline will have no material impact on the...
Continue Reading • 17 Feb 2014