Buying rush pushes up China home prices
By Nikki De Guzman:Home prices across 100 major Chinese cities rose in March, according to an independent survey by the China Index Academy.New home prices grew 3.9 percent year-on-year to average CNY9,998 (S$1,994) psm. In February, it moved up 2.48 percent.The increase was attributed to buyers...
Continue Reading • 2 Apr 2013
Rising capital flows into property: report
By Shabnam Muzammil:Despite low projections for the global economy and property market, new capital available for direct real estate investment rose three percent to US$320 billion (S$397.5 billion) compared to US$311 billion (S$386.3 billion) six months ago, said a DTZ report.Growth in available...
Continue Reading • 2 Apr 2013
CapitaLand restructures Surbana's businesses
By Nikki De Guzman:Property firm CapitaLand has announced the restructuring of its 40 percent stake in Surbana Corporation's residential development and consultancy businesses. Puah Tze Shyang will remain as CEO of the residential development business which will be integrated into CapitaLand...
Continue Reading • 2 Apr 2013
S'pore to be more age, disabled-friendly
By Shabnam Muzammil:To make Singapore more age-friendly and improve facilities for the elderly as well as the disabled, the Building and Construction Authority (BCA) launched yesterday a month-long public consultation on proposed amendments to the accessibility code which sets minimum design...
Continue Reading • 2 Apr 2013
Singapore auction market has strong start
By Nikki De Guzman:Singapore's property auction market began the year on a high note despite the recent cooling measures introduced in the residential sector.According to Colliers International, the auction market recorded a total sales value of S$76.08 million in Q1 2013, up 21.8 percent...
Continue Reading • 2 Apr 2013
Latest GLS sites to see keen interest
By Shabnam Muzammil: Two residential sites at Woodlands and Coronation Road released last Thursday under the confirmed list of the Government Land Sales (GLS) Programme are expected to see healthy demand from property players, analysts said. Developer interest for the executive condominium...
Continue Reading • 2 Apr 2013
House price growth muted in Q1
By Romesh Navaratnarajah: The Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) released today their flash estimates for the Q1 2013 Resale Price Index (RPI) and private residential property price index respectively.HDB’s RPI stands at 205.4 which reflects a 1.2...
Continue Reading • 2 Apr 2013
Shunfu HUDC estate privatised
By Romesh Navaratnarajah:After almost 12 years of trying, Shunfu HUDC estate (pictured) has finally undergone privatisation to become a strata-titled property, said the Housing and Development Board (HDB).The estate comprises 358 flats spread across Blocks 314, 315, 316, 317, 318 and 319 Shunfu...
Continue Reading • 1 Apr 2013
Sizzling demand for Sabah real estate
By Farah Wahida:Despite the Sabah stand-off, Kota Kinabalu’s property market remains robust with prices on level with Penang and Kuala Lumpur, according to HwangDBS Vickers Research.“New condominium launches in town are hitting RM600 psf to RM900 psf (S$240 – S$360 psf) with...
Continue Reading • 1 Apr 2013
Govt releases 3 residential sites for sale
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) today launched three new residential sites for sale under the Government Land Sales (GLS) Programme for 1H2013.Offered on a 99-year lease, all three sites could yield a total of 845 housing...
Continue Reading • 28 Mar 2013
Malaysia Property Show back in town
By Nikki De Guzman:PropertyGuru, Asia’s leading property portal, will hold its Malaysia Property Show (MPS) for the fourth time in Singapore, taking place at Orchard Hotel this weekend (30 - 31 March) from 10am to 7pm daily. The event will showcase the latest properties from several major...
Continue Reading • 28 Mar 2013
Rare Japanese property to launch in Singapore
By Romesh Navaratnarajah:An exclusive freehold 24-storey residential tower in Nishiazabu, Tokyo will be launching in Singapore this weekend (30 – 31 March) at St. Regis Hotel. The launch of The Parkhouse (pictured) provides a rare opportunity as this is only the fourth Japanese...
Continue Reading • 28 Mar 2013
REDAS explores opportunities in Indonesia
By Nikki De Guzman:The Real Estate Developers Association of Singapore (REDAS) is looking to invest in Indonesia's booming property market, The Jakarta Post reported.During a recent visit to the Singapore branch of Indonesia Investment Coordinating Board (BKPM), REDAS president Chia Boon Kuah...
Continue Reading • 28 Mar 2013
Malaysia bans 1261 developers
By Farah Wahida: To protect home buyers from abandoned projects, Malaysia’s Housing and Local Government Ministry will bar 1,261 blacklisted residential developers from participating in any new projects starting in 2015, reported Bernama.This as the government implements a new law on the...
Continue Reading • 28 Mar 2013
Pearls Centre owners receive $444m compensation
By Shabnam Muzammil:Owners at Pearls Centre along Eu Tong Sen Street in Chinatown have been issued S$444 million in compensation and promised further relocation assistance, according to media reports.Analysts previously forecasted the market value of the strata-titled property to range between...
Continue Reading • 28 Mar 2013
Slew of commercial properties sold at UK auction
By Nikki De Guzman:UK property firm Allsop sold 79 percent or £53 million (S$99.8 million) worth of commercial properties at an auctions event in London yesterday.According to the consultancy, the strong turnout reflected ongoing appetite for correctly priced stock with 75 percent...
Continue Reading • 27 Mar 2013
GIC lends helping hand to Indian developers
By Shabnam Muzammil:The Government of Singapore Investment Corporation (GIC) has partnered with Kohlberg Kravis Roberts, a leading global investment firm, to establish a non-banking financial company (NBFC) to lend funds to Indian developers.The real estate-focused NBFC will be the first of its...
Continue Reading • 27 Mar 2013
The rise of 'Farmscrapers' in China
By Nikki De Guzman:With the aim of tackling China’s growing population and pollution problems, French firm Vincent Callebaut Architects has unveiled six 111-storey ‘farmscrapers’ (pictured), reported New York Daily News.The skyscrapers, fitted with eco-friendly features such as...
Continue Reading • 27 Mar 2013
Allow younger singles to buy flats, says billionaire
By Nikki De Guzman:Billionaire Bhupendra Kumar Modi (pictured) has urged Singapore's government to lower its 35-year-old ruling for singles to buy HDB flats, highlighting that it affects the country's birth rate, Bloomberg reported.Modi, who became a Singapore citizen in 2012, said lowering the...
Continue Reading • 27 Mar 2013
2-year-old gets $6.5m apartment
By Shabnam Muzammil:A Chinese woman has reportedly purchased a US$6.5 million (around S$8 million) apartment in New York City's uber posh One57 development (pictured) for her two-year old daughter. The property’s broker revealed that the mother bought the unit for her toddler, “who...
Continue Reading • 27 Mar 2013