Severe supply issues in Yangon
The extreme lack of supply in Yangon’s condominium market has been highlighted by new research from real estate agency Savills.According to the latest briefing covering the second half of 2014, the city’s primary condominium market consisted of approximately 3,464 units from 19...
Continue Reading • 26 Jan 2014
No to Malaysia pre-launch sales ban
A Malaysian industry expert and analysts believe that prohibiting pre-launch sales of residential units will not address the excessive speculation in the market.Earlier this week Minister in the Malaysia's Prime Minister’s Department, Datuk Seri Abdul Wahid Omar, said pre-launch sales by...
Continue Reading • 25 Jan 2014
More tourists headed to SE Asia
Southeast Asia led the world in growth of international tourism in 2013, with the region recording at 10 percent increase – the strongest gains globally according to the latest United National World Trade Organization’s (UNWTO) World Travel Barometer.Despite global economic...
Continue Reading • 25 Jan 2014
Rich Asians hold more in property
Ultra-rich Asians are keeping more of their wealth - up to 27% - in real estate assets according to a report which highlights how private wealth is increasingly shaping the world’s real estate markets.Real estate now accounts for around a fifth of the invested wealth of the nearly...
Continue Reading • 25 Jan 2014
Singapore 10th most dynamic city
Singapore has been ranked 10th in a list of dynamic cities, with Jones Lang LaSalle identifying San Francisco, London, Dubai, Shanghai and Wuhan as the leading five cities demonstrating the combination of strong short term socio-economic, commercial real estate momentum and the longer-term...
Continue Reading • 25 Jan 2014
Appreciation and awards for clients
Many of PropertyGuru’s Singapore real estate agency and property developer clients were rewarded with appreciation awards, a free movie screening and a cocktail reception last week at the inaugural Lunar New Year Appreciation event. A packed house of agents and developers reinforced the...
Continue Reading • 25 Jan 2014
Geylang East site awarded to highest bidder
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Geylang East Avenue 1 (pictured) to S L (Serangoon). The developer had submitted the highest bid of $145.89 million for the 99-year leasehold site.The tender exercise closed on Thursday after attracting 16...
Continue Reading • 24 Jan 2014
Secondary market deals down 50% last year
The secondary market witnessed a 50 percent drop in the number of private homes sold last year to 7,695 units from 15,678 units in 2012. This is the lowest since 2004 when only 6,476 units were transacted, according to caveats analysis by DTZ.Notably, the decline in secondary market transactions,...
Continue Reading • 24 Jan 2014
Keppel net profit down 26%
Keppel Corporation's net profit in Q4 2013 rose by nine percent to S$332 million, bringing the year's total to about S$1.41 billion compared to S$1.91 billion in fiscal year 2012.The significant drop in earnings was due to the higher profits posted in FY2012, which include one-off earnings from...
Continue Reading • 24 Jan 2014
Private home prices post first decline since early 2012
Private home prices declined by 0.9 percent in the last three months of 2013, according to new URA data released on Friday.This is the first time that overall prices have fallen since the beginning of 2012.For the whole of last year, prices in this segment rose by 1.1 percent, lower than the 2.8...
Continue Reading • 24 Jan 2014
CapitaLand buys Ningbo residential site for $232m
CapitaLand China, a subsidiary of CapitaLand, has acquired a prime residential site in Ningbo for S$232 million.Located in Sunjia, Jiangbei District, the site measures 57,369 sq m and was secured in a government land tender.The developer plans to build about 1,100 units of small and medium-sized...
Continue Reading • 24 Jan 2014
London, Dubai take centre stage
Overseas property exhibitions featuring London and Dubai take centre stage in Singapore this weekend.Goodman’s Fields, Berkeley Group’s landmark development in Aldgate, London, will be showcasing its recently launched next collection of apartments, Meranti House – the first...
Continue Reading • 24 Jan 2014
EcoHouse "back on track"
EcoHouse, developer of social housing investments in Brazil which sold to more than 700 individual property investment to Singaporeans over the last two years, has started paying outstanding 20 percent cheques to those of its clients who signed ‘Deeds of Modification’ just prior to...
Continue Reading • 24 Jan 2014
Call for data guidelines comments
The Singapore government is reminding its citizens about the public consultation on the proposed Real Estate Agency and Telecommunications Advisory Guidelines (PDPA).It is still seeking views from the public on the issues and scenarios raised within the published advisory guidelines.The 19-page...
Continue Reading • 24 Jan 2014
Land parcel near Aljunied MRT receives 16 bids
A residential site at Geylang East Avenue 1 (pictured) has attracted overwhelming interest, drawing 16 bids after its tender closed on Thursday, said the Urban Redevelopment Authority (URA). Launched for sale in December after a developer committed to bid at least $95 million, the site has a land...
Continue Reading • 23 Jan 2014
CDL among top for sustainability
For a fifth consecutive year, City Developments Limited (CDL) has made the list in the Corporate Knights Global 100 Most Sustainable Corporations in the World. The real estate developer is both the first and only Singapore company to be listed on the global benchmark since 2010. Those who...
Continue Reading • 23 Jan 2014
Chinese emerge as top non-Singaporean private home buyers
The Chinese emerged as the top non-Singaporean buyers of private homes here amid a 35 percent drop in private home acquisitions by foreigners last year.Among the top four nationalities, the biggest drop came from the Indians while the smallest came from the Chinese.Based on caveats analysis by...
Continue Reading • 23 Jan 2014
Aspial to build Melbourne's tallest tower
After clinching a development site in Melbourne's Southbank district for AU$42.3 million (S$47.93 million), Singapore developer, Aspial Corporation, plans to build the tallest tower in the city."We are truly humbled, yet excited to be involved in this monumental project. It is certainly a...
Continue Reading • 23 Jan 2014
Developers tackle London challenge
At least one Singapore developer, along with others from Malaysia, China and Qatar, hold twice the number of housing development sites in London versus local housing associations and affordable house builders.Media reports citing data from CBRE pinpointed the fact that, although some have been...
Continue Reading • 23 Jan 2014
Bangkok rents rise for the first time in 20 years
Residential rentals in downtown Bangkok rose for the first time in 20 years during 2013, according to data released by CBRE Thailand. Sales prices also rose, resulting in condominium yields remaining stable at around 5.3 percent, according to the international real estate advisor.The company...
Continue Reading • 23 Jan 2014