Owners of private non-landed homes profit from resales
By Shabnam Muzammil:Owners of non-landed private homes earned a gross profit of S$107 million from quick resales over the five quarters of Q1 2012 to Q1 2013, according to a report from OrangeTee. It stated that high home prices contributed largely to the profit in this segment, adding that...
Continue Reading • 30 Apr 2013
12 residential units sold at Capitol project
By Nikki De Guzman:The Capitol Investment Holdings consortium has sold 12 of the 39 residential units in its S$750 million Capitol project (pictured), reported The Business Times. Units were sold at an average price of S$3,000 psf.Located at the junction of Stamford and North Bridge roads, the...
Continue Reading • 30 Apr 2013
CEO shake-up at Ascott
By Shabnam Muzammil:CapitaLand has announced that its wholly-owned serviced residence business, The Ascott Limited (Ascott), has appointed Lee Chee Koon (pictured) as its CEO with effect from 1 June.He will replace Chong Kee Hiong who is leaving the firm at the end of May to pursue other...
Continue Reading • 30 Apr 2013
Italy set to abolish property tax
By Andrew Batt:The newly elected Italian government is widely expected to abolish the country’s property tax.Eurozone nations, together with second homeowners in Italy, are cautiously welcoming the appointment of new prime minister Enrico Letta. They’re also hoping for a period of...
Continue Reading • 30 Apr 2013
Public urged to submit ideas for building code
By Shabnam Muzammil:Singapore's Building and Construction Authority (BCA) will organise exhibitions at shopping malls over the next two years to raise awareness on features that will improve accessibility in public buildings.The draft accessibility code is in its fourth review and the public can...
Continue Reading • 29 Apr 2013
New guidelines issued for property agents
By Romesh Navaratnarajah:The Council for Estate Agencies (CEA) has published a professional service manual (PSM) which specifies the responsibilities and service standards required of all property agents and salespersons. “The PSM seeks to set clear standards and guidelines to...
Continue Reading • 29 Apr 2013
Bangkok prime property prices rise second fastest globally
By Andrew Batt: Prices of prime luxury property in Bangkok rose 26.1 percent in the first quarter of the year - the second highest rise of the 29 cities tracked in Knight Frank’s Prime Global Cities Index report.Jakarta – with a 38.1 percent rise – led the world with Miami...
Continue Reading • 29 Apr 2013
CapitaLand sees 41% profit increase
By Nikki De Guzman:Property giant CapitaLand recorded a 41 percent increase in net profit during the first quarter of 2013 to S$188.2 million, while revenue was up 3.2 percent at S$661.9 million. However, it remains “cautiously optimistic” about the housing market after the government...
Continue Reading • 29 Apr 2013
Ascott Reit's unitholders' distribution up 14% to $27.6m
By Nikki De Guzman:Ascott Residence Trust (Ascott Reit) posted a 14 percent increase in unitholders’ distribution in Q1 2013 to S$27.6 million compared to the same period last year, while distribution per unit climbed five percent to 2.25 cents.“Ascott Reit has continued to...
Continue Reading • 29 Apr 2013
Strong interest in Thai property from Singapore buyers and investors
By Andrew Batt:Thailand was attracting strong interest from Singaporeans at property exhibitions in the city-state last weekend.“Bangkok is booming,” said Edwin Soon, Sales and Marketing Director for ECG whose agency was marketing developments from Fragrant Group, including Circle 11...
Continue Reading • 29 Apr 2013
Call for action against illegal Bali agents
By Andrew Batt:The real estate industry on the Indonesian island of Bali is calling for stern action to be taken against the growing number of unregistered sales agents – many from Singapore and Malaysia – who are flocking to the island to sell property.According to several local...
Continue Reading • 26 Apr 2013
Thailand shows to tempt buyers
By Andrew Batt:Singapore property buyers and investors looking at opportunities in the Land of Smiles will get two opportunities to explore the latest properties for sale from Bangkok at dedicated property exhibitions in Singapore this weekend.Thailand property developer Raimon Land, together...
Continue Reading • 26 Apr 2013
CBRE announces senior hire
By Shabnam Muzammil:Real estate consultancy CBRE has appointed Marc Giuffrida (pictured) as Executive Director of its Global Capital Markets business. To be based in Singapore from 13 May, he will report to Greg Penn, Head of Capital Markets Asia, and Chris Ludeman, President of Global Capital...
Continue Reading • 26 Apr 2013
Private home prices up 0.6%
By Romesh Navaratnarajah:Private home prices increased 0.6 percent in the first quarter of 2013, down from the 1.8 percent growth seen previously, according to data released today by the Urban Redevelopment Authority (URA).Growth in non-landed home prices eased across all three market segments...
Continue Reading • 26 Apr 2013
Asian property equities on the up: report
By Nikki De Guzman:With growth taking place due to Japan's property policy changes, Asian property equities rose +9.8 percent at the end of Q1 2013, according to a report from Henderson Global Investors.Japanese REITS posted a return of +36.2 percent in Q1 2013 and are still offering a dividend...
Continue Reading • 25 Apr 2013
AVJ to raise S$52.6 million
By Nikki De Guzman:AVJennings (AVJ), the Australia-listed arm of Singapore developer SC Global, is undertaking a 2-for-5 non-remounceable pro rata entitlement offer that aims to raise AU$41.2 million (S$52.6 million) to cut its debt and bolster working capital requirements. Under the offer,...
Continue Reading • 25 Apr 2013
Resale EC prices up 25.7% since end 2010
By Romesh Navaratnarajah:Prices of resale executive condominiums (ECs) rose in tandem with private condos and even surpassed new ECs, said Jones Lang LaSalle (JLL). ECs were introduced in 1996 catering to buyers who found private homes too expensive. While they were priced affordably...
Continue Reading • 25 Apr 2013
Six projects that pushed up Q1 home sales
By Romesh Navaratnarajah:Close to 75 percent of all private homes launched in the first quarter of 2013 came from six popular 99-year leasehold condominium projects in the Outside Central Region (OCR) or 67.9 percent of all units sold, said Colliers International. They include the 630-unit Q...
Continue Reading • 25 Apr 2013
Developer unveils new eco-friendly showflat
By Nikki De Guzman:Property firm Santarli yesterday unveiled an eco-friendly and innovative showflat called the Portable Modular Showsuite (pictured) on the site of its new Sant Ritz project in Upper Serangoon. Inspired by portable weatherboard farmhouses that can be pre-constructed and...
Continue Reading • 25 Apr 2013
SingHaiyi to launch new residential project
By Romesh Navaratnarajah:Singapore-listed developer SingHaiyi Group plans to launch a freehold 17-storey residential project along Balestier Road on 1 May. Called COSMOLOFT (pictured), the new tower comprises 52 loft apartments ranging from 452 to 527 sq ft and four penthouses from 980 to...
Continue Reading • 25 Apr 2013