Is Singapore losing its shine?
By Romesh Navaratnarajah:From a strong first place finish in 2011 to 2012, Singapore slipped to third place on the Emerging Trends in Real Estate Asia Pacific survey in 2013. Jointly conducted by the Urban Land Institute and PricewaterhouseCoopers (PwC), the study provides a property outlook...
Continue Reading • 1 Mar 2013
Govt adopting wait and see approach to property market
By Romesh Navaratnarajah: Under the latest revisions to the development charge (DC) rates which took effect yesterday, the Ministry of National Development has not made any changes for Group B2 (non-landed residential sector). Desmond Sim, Associate Director at CBRE Research, said this may be due...
Continue Reading • 1 Mar 2013
Thailand Property Show this weekend
By Andrew Batt: Thailand property buyers will get the chance to learn more about some of the kingdom’s best property investment opportunities at PropertyGuru’s Thailand Property Show this weekend. The event, which will take place at Orchard Hotel on Saturday and Sunday...
Continue Reading • 1 Mar 2013
CDL declares strong 2012 results
By Romesh Navaratnarajah:Despite the challenging economic conditions, City Developments Limited (CDL) posted good financial results with revenue for FY2012 soaring to S$3.4 billion — the highest since operations began in 1963. CDL said it achieved strong residential sales comprising 2,395...
Continue Reading • 28 Feb 2013
Govt revises DC rates
By Romesh Navaratnarajah: The Ministry of National Development (MND) has revised the development charge (DC) rates for the period from 1 March to 31 August this year. The DC rates for Group A (Commercial) have increased by an average of 24 percent, with the largest increase of 39 percent in...
Continue Reading • 28 Feb 2013
Amara revenue jumps 46%
By Romesh Navaratnarajah: Property firm Amara Holdings achieved a net profit of S$29.4 million for FY2012, supported by a 46 percent increase in revenue to S$90.3 million during the year from S$61.8 million previously.Of the total revenue, 61.9 percent was contributed by hotel investment and...
Continue Reading • 28 Feb 2013
1055 private housing units expected from two new sites
By Romesh Navaratnarajah: Two residential sites have been put up for sale which could yield 1,055 units and provide developers and home buyers with more housing options. Launched under the confirmed list of the 1H2013 Government Land Sales (GLS) Programme, the sites are located at Kim Tian Road...
Continue Reading • 28 Feb 2013
Majority of new home buyers have HDB addresses: report
By Romesh Navaratnarajah: For the first time since 2003, buyers with HDB addresses accounted for the bulk of demand (53 percent) in the new private homes market last year, according to a DTZ report. “In the primary market, the number of private homes bought by HDB addressees rose 34 percent...
Continue Reading • 28 Feb 2013
MAS structures in place to prevent over-borrowing
By Romesh Navaratnarajah: To ensure that home buyers do not overstretch themselves financially when taking out a home loan, banks are required to scrutinise the prospective borrowers' ability to repay the loan, noted Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. Mr...
Continue Reading • 27 Feb 2013
Far East properties on iPad
By Romesh Navaratnarajah: Far East Organization has launched a new iPad application called Rent Far East, which details its entire property portfolio available for leasing or renting.The app offers the latest updates on the developer’s properties ranging from residential, commercial,...
Continue Reading • 27 Feb 2013
Luxury home tax unlikely in HK: experts
By Romesh Navaratnarajah: Although Singapore has announced tax hikes on high-end investment homes, Hong Kong is unlikely to follow suit, noted analysts and reported by the South China Morning Post. According to Jennifer Wong, tax partner at KPMG China, the private housing market in Hong Kong...
Continue Reading • 27 Feb 2013
Malaysian HNWIs to double in three years
By PrimeResi: The number of high-net-worth individuals (HNWI) in Malaysia is set to double over the next three years, growing from 32,000 currently to 68,000 in 2015, according to a report in the New Straits Times. Net worth will increase from its current US$140bn to US$330bn in the same time...
Continue Reading • 27 Feb 2013
Only 3% of UK retirees want to live with their kids
By Romesh Navaratnarajah: Although most Britons nearing retirement prefer to live close to their children, very few would like to spend their twilight years living in the same house with them, according to a recent HSBC report. Globally, 56 percent of women surveyed said they would be...
Continue Reading • 27 Feb 2013
Foreigners dominate prime property in Thailand
By Romesh Navaratnarajah:Overseas buyers accounted for 100 percent of investors in Phuket’s luxury property market last year, according to Knight Frank. Over in the Thai capital Bangkok, condominium launches in the Sukhumvit area and the central business district (CBD) were particularly...
Continue Reading • 26 Feb 2013
Budget 2013: Analyst Comments
By Romesh Navaratnarajah: The new property tax rates of between 12 to 20 percent for non-owner occupied residential properties introduced in Budget 2013 will make investing in high-end properties less attractive, said experts. According to Alan Cheong, Research Head at Savills Singapore, the...
Continue Reading • 26 Feb 2013
Budget 2013: Your Views
By Shabnam Muzammil and Nikki De Guzman: Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam's Budget 2013 statement promised to resolve Singapore’s housing issues, with higher taxes to be introduced for high-end investment properties. Meanwhile, PropertyGuru spoke to the...
Continue Reading • 26 Feb 2013
HK home sold for $84m despite cooling measures
By Romesh Navaratnarajah: Despite the tighter measures rolled out to cool Hong Kong’s property market, a two-storey home in the city has been sold for a whopping HK$84 million (S$13.42 million), according to reports. Located at Gough Hill Residences in the tony Peak neighbourhood, the...
Continue Reading • 26 Feb 2013
Budget 2013: Property Implications
By Romesh Navaratnarajah: In his Budget 2013 speech, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said that Singapore faces pressing challenges in housing and transport and the government will spare no effort in resolving these issues. Housing costs will look to be...
Continue Reading • 26 Feb 2013
HK home sales fall amid stamp duty hike
By Romesh Navaratnarajah: In a move aimed at cooling the property market, Hong Kong’s government raised the stamp duty for all properties priced over HK$2 million (S$319,481) to 8.5 percent last Friday, leading to a decline in home sales over the weekend. According to Buggle Lau, Chief...
Continue Reading • 25 Feb 2013
New plans for Woodlands unveiled
By Romesh Navaratnarajah: National Development Minister Khaw Boon Wan yesterday unveiled the government’s initial plans for the upcoming Woodlands Regional Centre, which forms part of the new North Coast Innovation Corridor under the Land Use Plan. Stretching from the north coast fronting...
Continue Reading • 25 Feb 2013