Move to ‘prevent foreigner enclaves'
Singapore’s Housing Development Board (HDB) has introduced a limit on the number of non-citizens (NCs) it will permit to be subtenants in its properties.In a statement published earlier today HDB said the move was to “prevent the formation of foreigner enclaves in HDB estates, and...
Continue Reading • 17 Jan 2014
High expectations for 2014
Asia’s share of global revenues at non-Asian firms in the global real estate sector is expected to increase from 21.1 percent in 2013 to 33.3 percent in 2018, according to the Asia Business Outlook Survey 2014 (ABOS) from The Economist Corporate Network.“Our survey shows that...
Continue Reading • 17 Jan 2014
Guides to educate investors
Singapore real estate agency PropNex has launched three guides targeted at educating homebuyers, homeowners and investors about the different segments of the Singapore property investment market. Incorporating the dynamism of policies and measures that were introduced, these 14-page booklets aim...
Continue Reading • 17 Jan 2014
Avant Parc stands out as only launch in December
Avant Parc (pictured) has the distinction of being the only new private property project to launch in December 2013, according to analyst reports on the latest URA figures.Located along Wak Hassan Place in Sembawang, Avant Parc is a small landed housing development of just 15 units.A Jones Lang...
Continue Reading • 16 Jan 2014
Upper Paya Lebar site awarded to UOL Overseas Investments
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Upper Paya Lebar Road to UOL Investments, after it submitted the highest bid of S$39.30 million.Launched for sale on 18 November 2013, it received strong interest from developers, with seven bids submitted...
Continue Reading • 16 Jan 2014
Upper Paya Lebar residential site receives 7 bids
A residential site at Upper Paya Lebar Road has attracted strong interest from developers, with seven bids submitted when the tender closed on Tuesday, revealed the URA. UOL Overseas Investments submitted the highest bid of S$392.30 million, which works out to S$648 psf ppr.It was followed by EL...
Continue Reading • 16 Jan 2014
Major price correction unlikely says DTZ
After the government's total debt servicing ratio (TDSR) framework was implemented in June 2013, fewer property launches and private home sales were seen in the months that followed compared to any other period in the past three years, according to information compiled by DTZ.DTZ noted that the...
Continue Reading • 16 Jan 2014
'Perfect storm' caused plunge in new home sales
The month of December was a dismal period for developers looking to sell housing units, according to several analysts. Data published on Wednesday by the URA revealed that sales of new private homes excluding executive condominiums (ECs) hit a five-year low of 259 units in the last month of...
Continue Reading • 16 Jan 2014
New taxes to hit French buyers
Property buyers and investors considering France should take note of new taxes which could make their property purchase more expensive than they planned.Richard Way, Editor at The Overseas Guides Company, told PropertyGuru: “High earning residents aren’t the only people in France to...
Continue Reading • 16 Jan 2014
Move over BRICs, it's time for MINT
Move the BRICs out of the way, now it’s time for property investors to add some MINT to their property investment portfolio.Investors have long been familiar with the term BRICs, which economist Jim O’Neill coined to refer to the emerging economies of Brazil, Russia, India and...
Continue Reading • 16 Jan 2014
Five-year low for new private home sales
New private home sales for the month of December 2013 plunged almost 80 percent to just 259 units, revealed data published on Wednesday by the URA. Including executive condominiums (ECs), 333 units were sold last month compared to the 1,714 units taken up in November 2013.This is the lowest...
Continue Reading • 15 Jan 2014
Bangkok buyers largely undeterred
EXCLUSIVE: Despite the Bangkok shutdown making newspaper and television headlines around the world, there has been little impact for Singaporean property buyers who are considering investing in the Thai capital.Singapore real estate agency Trillion Property, which currently has about 150 buyers...
Continue Reading • 15 Jan 2014
HDB awards Westwood Ave EC site to highest bidder
The Housing & Development Board (HDB) has awarded the tender for an executive condominium (EC) site at Westwood Avenue to Changi Properties and Heeton Homes after they submitted the highest bid of S$198.9 million. Launched for sale on 31 October, the site has attracted 12 bids during its...
Continue Reading • 15 Jan 2014
No credit bubble here: MAS
The Monetary Authority of Singapore has reacted strongly to a media article which claimed that Singapore was on the verge of an “Icelandic-style meltdown.”In a statement to the media, MAS said Singapore is not facing a credit bubble that puts the country or the banking system at any...
Continue Reading • 15 Jan 2014
Prime London price growth slows
Prices of the best homes in prime central London ended the year 7.5 percent higher year-on-year, having recorded a 0.8 percent rise in December, according to research from Knight Frank.The monthly rise was the highest since March and ended a ten-month slowing in the rate of annual growth, which...
Continue Reading • 14 Jan 2014
Propnex partners with Infiniti for HNWIs
Singapore's largest real estate agency PropNex Realty has formed an alliance with Infiniti Asset Management Pte with the aim of bringing investors a first-of-its-kind real esttae investment solution.The Infiniti Real Estate Strategies Fund, launched today, will cater specifically to...
Continue Reading • 14 Jan 2014
Ringgit loans for Singapore homes
OCBC Bank (Malaysia) Berhad has expanded its Ringgit loan facility for residential properties in Singapore in line with its positioning to be a global Premier mortgage provider for overseas properties.The bank already offers overseas financing in Australia and United Kingdom, and the Singapore...
Continue Reading • 14 Jan 2014
Buyers focus on Japan
EXCLUSIVE: Singapore property buyers and investors were snapping up Japanese properties at the first Japan property exhibition to take place in Singapore this year.The event, held by the ECG agency and featuring Tokyo property Concieria Mita in Minato-Ku, was attracting significant interest and a...
Continue Reading • 14 Jan 2014
TDSR is hurting overseas deals
EXCLUSIVE: Hong Kong has ousted Singapore as the preferred first Asian sales destination for many London developers as a direct result of the implementation of Singapore’s Total Debt Service Ratio (TDSR) The cooling measure, which was introduced on June 29, 2013, was intended to limit the...
Continue Reading • 14 Jan 2014
Bangkok prices up 5% in H2 2013
Residential property in Bangkok saw price rises of an average of between five percent and six percent during the second half of 2013, according to a survey conducted by the Real Estate Information Centre.The survey, which focused on detached houses, townhouses and condominiums in Bangkok and its...
Continue Reading • 13 Jan 2014