Tokyo, London projects to tempt buyers
Two prime overseas property projects – one from Tokyo and one from London – will be tempting Singapore property buyers and investors at property exhibitions in the city-state over the coming weekend.Jones Lang LaSalle will be exhibiting Tokyo project Krono Residence - The Parkhouse...
Continue Reading • 30 Aug 2013
iLiv@Grange condo reportedly for sale
The 30-unit iLiv@Grange condominium could be put up for en bloc sale, media reports said.According to market chatter, local developer Heeton Holdings is asking for S$2,200 to S$2,300 psf for the units. This works out to S$129 million – S$135 million given the development's total saleable...
Continue Reading • 30 Aug 2013
Resale private home prices up in July
Private home prices in the resale market increased marginally by 0.2 percent in July to 162.7, according to the Singapore Residential Price Index (SRPI) flash estimates published by the National University of Singapore's Institute of Real Estate Studies.The rise was attributed to values of small...
Continue Reading • 29 Aug 2013
Enhanced housing grants to cost Govt $150m
To help first-timer families upgrade to larger property, the new housing grants will cost the government at least S$150 million each year. Subsidies for Build-to-Order (BTO) flats will increase to over S$440 million annually, compared to about S$290 million last year, including the Special...
Continue Reading • 29 Aug 2013
Oxley profit up 307% amid strong revenue
Local developer Oxley Holdings has posted a 307 percent net profit increase attributable to shareholders to S$69.1 million for its financial year ended 30 June 2013, compared with S$16.9 million in FY2012.The strong showing is due to a 187 percent revenue hike to S$457.7 million in FY2013 from...
Continue Reading • 29 Aug 2013
Singapore tempts Myanmar buyers
EXCLUSIVE: What is believed to be one of the first Singapore property exhibitions in Myanmar took place last weekend, when three Wing Tai Singapore condominium projects were showcased in Yangon by the ERA real estate agency.The event featured three Singapore properties – L’Viv,...
Continue Reading • 29 Aug 2013
Wing Tai chief expects property price correction
With property prices on the rise since 2005, the housing market will likely see a price correction, said Wing Tai’s Chairman Cheng Wai Keung.Speaking to the media at the company’s full-year results briefing, Cheng noted that “the chances of the market turning this year are quite...
Continue Reading • 29 Aug 2013
London interest remains strong
London property investor interest from Southeast Asia shows no signs of stopping according to a central London real estate agency that recently held a series of road shows in the region.Attendance at Benham and Reeves Residential Lettings' latest series of property investment seminars in...
Continue Reading • 29 Aug 2013
Property stocks fall on latest measures
The Singapore property index tracking 43 stocks fell 1.4 percent to 692.64 at the close of trading yesterday – the lowest in the last year.The decline was attributed to the government’s latest housing measures including reduced home loan tenures and buying restrictions on newly-minted...
Continue Reading • 29 Aug 2013
Profit slump for developer Sim Lian
Property developer Sim Lian Group has reported a profit of S$167.9 million for its financial year ended 30 June 2013, down 27 percent from S$230.56 million in the same period last year. Group revenue also slipped three percent to S$742.2 million, while dividend was at 4.6 cents per share.Revenue...
Continue Reading • 28 Aug 2013
KSH awarded multi-million dollar contract to build NEWest
KSH Holdings, the construction and property development group, has secured a S$98.94 million contract to build NEWest, a mixed-use development at West Coast Drive. The deal was awarded by developer Oxley Viva and will see KSH constructing 136 residential units and 141 commercial lots on the...
Continue Reading • 28 Aug 2013
PRs to turn to private homes, say analysts
Singapore permanent residents (PRs) are expected to show greater demand for rental and private homes following the latest measures targeting the purchase of resale HDB flats, media reports said. Under the rules announced on Tuesday, newly-minted PRs need to wait three years before they can buy a...
Continue Reading • 28 Aug 2013
Wing Tai reports 102% profit hike
Singapore-listed developer Wing Tai Holdings has recorded a 102 percent net profit gain to S$531.1 million from S$262.4 million last year. Full-year revenue also increased 113 percent to S$1.33 billion from S$624.9 million in FY2012.In a statement, Wing Tai attributed the strong results from...
Continue Reading • 28 Aug 2013
Letter to the editor: Housing affordability in S'pore
Everyone aspires to own their own home and most people will want to get married and bring up their children within a sufficiently-sized livable space in a private home or flat (not shoebox condominiums created due to high land costs purchased by developers). Most children, i.e. the next...
Continue Reading • 28 Aug 2013
Chuan Hup buys Perth site for S$19.3m
A wholly-owned subsidiary of Chuan Hup Holdings has acquired prime development land in Maylands, Western Australia for A$16.7 million (S$19.3 million).Located 4.5 km from Perth’s central business district, the 17,256 sq m site was purchased by Ventrade Maylands from private investor...
Continue Reading • 27 Aug 2013
Bukit Panjang station to get third entrance
Following persistent lobbying by residents and Holland-Bukit Timah GRC MPs Liang Eng Hwa and Vivian Balakrishnan, The Land Transport Authority (LTA) has given the green light for a third MRT entrance in Senja, Bukit Panjang.According to an LTA spokesperson, the agency carefully studied the...
Continue Reading • 27 Aug 2013
Steep rise in Bangkok condo prices
Average prices for new condominium projects in Bangkok rose a staggering 21 percent quarter-on-quarter according to the latest research published by Colliers International Thailand.In its Bangkok Condominium Market Report covering the first half of 2013, Colliers revealed that the number of new...
Continue Reading • 27 Aug 2013
Myanmar to impose property tax soon?
Despite the advice of experts not to interfere, Myanmar’s government may impose new property taxes amid fears that spiralling property prices could discourage foreign companies from investing in the country.In fact, land prices in Yangon, Myanmar’s largest city and former capital;...
Continue Reading • 27 Aug 2013
Singapore top US investment destination in Asia
Singapore is now the most preferred Asian investment destination for US-based companies, according to David Adelman, the outgoing US Ambassador to Singapore.Speaking to the media, Adelman said: “The 10-year cumulative US investment in Singapore stood at US$138 billion (S$176.6 billion) at...
Continue Reading • 27 Aug 2013
Buyers shift focus to shoebox units: DTZ
Buyers are being drawn to more affordable and smaller units following the government’s latest property cooling measures and stricter loan rules, according to a report from DTZ.During the second quarter, 2,571 buyers (38 percent) opted to buy homes below S$1 million, higher than the 1,835...
Continue Reading • 27 Aug 2013