House prices still too expensive: PropertyGuru survey
By Romesh Navaratnarajah: Driven by concerns that home prices will rise in the next six months, PropertyGuru’s Property Affordability Sentiment Index (ASI) fell further in Q4 2012, based on its latest quarterly Property Sentiment Survey done in collaboration with Blackbox Research which...
Continue Reading • 18 Feb 2013
43% hike in new private home sales
Last month’s property cooling measures failed to dampen new home sales in Singapore, with 2,013 private housing units sold in January, a 43 percent increase over the 1,410 sold in December 2012, according to data from the Urban Redevelopment Authority (URA).
Continue Reading • 18 Feb 2013
Property stocks up after strong sales data
By Nikki De Guzman: Despite the latest round of cooling measures which came into effect on January 12, the Urban Redevelopment Authority (URA) recorded 2,013 new private home sales last month, 43 percent more than the 1,410 units sold in December 2012. On Friday, shares of CapitaLand, Southeast...
Continue Reading • 18 Feb 2013
OCBC expects 30% drop in mortgage lending
By Romesh Navaratnarajah: OCBC Bank’s new mortgage sales for 2013 are expected to fall by up to 30 percent due to the recent property cooling measures. Nevertheless its mortgage book will not be significantly affected, said Chief Operating Officer Ching Wei Hong at the bank’s Q4 2012...
Continue Reading • 18 Feb 2013
Dubai to build two new islands
By Romesh Navaratnarajah: A new 6.3 million sq ft island is being developed 500m off the coast of Dubai. Once completed, Jumana Island will be home to an upcoming luxury boutique resort, low-rise apartment buildings, super-luxury beachfront homes and a private marina. According to media reports,...
Continue Reading • 18 Feb 2013
Keppel Land in JV to acquire Shanghai property
By Romesh Navaratnarajah: Keppel Land China has entered into a deal with its property fund management arm Alpha Investment Partners (Alpha) to acquire Lifehub @ Jinqiao (pictured), a mixed-use development in the Pudong district of Shanghai, China. “This is the first time that Keppel Land...
Continue Reading • 15 Feb 2013
Plans revealed for UK Mansion Tax
By Andrew Batt: The leader of Britain’s opposition, Ed Milliband, has revealed plans to introduce a ‘Mansion Tax’ on homes worth more than £2 million (S$3.8 million) if his party is elected to power at the next general election.Shadow Finance Minister Ed Balls said there...
Continue Reading • 15 Feb 2013
Azerbaijan plans to acquire Asian properties
By Romesh Navaratnarajah: Due to the growing investment appeal of properties across the Asia Pacific region, the State Oil Fund of Azerbaijan (SOFAZ) is studying the real estate markets of Singapore, Malaysia, Indonesia and Australia, according to media reports."If it is appropriate, in the...
Continue Reading • 14 Feb 2013
Dutch architect to build 3D-printed house
By Nikki De Guzman: Using the world's largest 3D printer, Dutch architect Janjaap Ruijssenaars of Universe Architecture in Amsterdam plans to print a building resembling a giant Mobius strip with a floor space of about 11,840 sq ft.Ruijssenaars said the building “will have parts usually...
Continue Reading • 14 Feb 2013
Chinese investors looking beyond London
By Romesh Navaratnarajah: Leveraging on the weak pound and strong yields, Chinese investors are looking at the UK's regional cities for new build investment properties, said lettings specialist Assetz.Affected by the red-hot property market in many Chinese cities like Shanghai and Beijing, these...
Continue Reading • 14 Feb 2013
Far East is best-selling developer again
By Romesh Navaratnarajah: Far East Organization has topped the list of property developers in Singapore yet again for best sales figures last year at 2,181 private homes, or around 10 percent of the total number of 22,290 new units sold. Among its best-selling projects were The Hillier in...
Continue Reading • 14 Feb 2013
Italy ranked top retirement destination
By Romesh Navaratnarajah:Italy has emerged as one of the top destinations in the world for retirees, attracted to the country's ideal climate and efficient healthcare system, according to The Huffington Post and AARP (formerly the American Association of Retired Persons).In fact, the World Health...
Continue Reading • 14 Feb 2013
China faces huge task in rebuilding rural homes
By Romesh Navaratnarajah: China’s Ministry of Housing and Urban-Rural Development has announced plans to rebuild three million houses for rural residents this year, said media reports.According to a ministry spokesman, there are about 20 million unsafe homes in rural China. As such, the...
Continue Reading • 13 Feb 2013
Highwood House to launch in Singapore
By Romesh Navaratnarajah: Spurred by the robust sales of London homes to international investors, the Highwood House development (pictured) in the exclusive neighbourhood of Fitzrovia in the West End will be showcased at an exhibition at The Regent Singapore from 22 to 24 February. Developed by...
Continue Reading • 13 Feb 2013
Island hideaway sold for more than S$4.75m
By Romesh Navaratnarajah: A 65 acre island (pictured) off the coast of Ireland has been sold for over €2.85 million (S$4.75 million), according to marketing agent Knight Frank. Called Inish Turk Beg or “Small Island of the Wild Boar”, it is one of the largest islands in Clew Bay...
Continue Reading • 13 Feb 2013
Agents targeted by email scammers
By Andrew Batt:Real estate agents in Thailand are the latest target of email scammers seeking to defraud them of money.The suspicious emails appear to come from someone seeking friendship and assistance to buy a property and relocate.Enquiries made by PropertyGuru revealed the emails originate...
Continue Reading • 13 Feb 2013
EcoHouse attracts S$30m in two days
By Andrew Batt: EcoHouse Group attracted more than S$30 million of property investments in just two days at recent events in Singapore.Some 550 existing investors pledged the additional investments at events to mark the opening of EcoHouse’s new Singapore offices at Suntec City earlier this...
Continue Reading • 13 Feb 2013
Seletar Hills residents unhappy over construction projects
By Nikki De Guzman:Residents of the Seletar Hills estate are seeing red over on-going construction and road works (pictured) taking place in their backyard.The residential estate located off Yio Chu Kang Road is home to mainly low-rise landed properties. With new condominium developments like The...
Continue Reading • 8 Feb 2013
DBS mortgage growth could drop by half
By Romesh Navaratnarajah: In the wake of the latest property cooling measures, DBS Bank’s mortgage growth in Singapore could fall by 50 percent this year, said Chief Executive Piyush Gupta in a report by The Business Times. The bank’s Singapore loan book stands at about S$100...
Continue Reading • 8 Feb 2013
KSH sees earnings boost
By Romesh Navaratnarajah: Property firm KSH Holdings Limited recorded a 179 percent increase in earnings to S$8.1 million, attributed mainly to revenue that grew 71.4 percent to S$52.2 million for the third quarter ended 31 December 2012. The company’s net profit attributable to...
Continue Reading • 8 Feb 2013