Khaw addresses issue of pricey ECs
By Romesh Navaratnarajah:In his latest blog post, National Development Minister Khaw Boon Wan has spoken out on the recent controversy over the sale of expensive executive condominium (EC) units, like the 4,349 sq ft presidential suite at CityLife EC in Tampines that was sold for over S$2...
Continue Reading • 7 Jan 2013
Property prices not top concern for companies
By Romesh Navaratnarajah: The majority of companies with their regional headquarters in Singapore do not see property prices as an issue, but more than half see the high cost of living/inflation as a major issue, according to the 2013 Asia Business Outlook Survey by the Economist Corporate...
Continue Reading • 7 Jan 2013
Alexandra gaining ground as property hotspot
By Romesh Navaratnarajah: The Alexandra area is set to become a hotspot for expatriates on the lookout for rental properties, noted a report in The Straits Times. According to Steven Tan, Managing Director of OrangeTee, the area has evolved in recent years. While housing used to be limited to HDB...
Continue Reading • 7 Jan 2013
Ho Chi Minh City unlikely to see swift turnaround
By Andrew Batt: The residential property market in the Vietnamese city of Ho Chi Minh is unlikely to see a significant turnaround in 2013 despite the government’s efforts to boost the sector.Marc Townsend, Managing Director for CB Richard Ellis (Vietnam), revealed that finance for both...
Continue Reading • 7 Jan 2013
Home prices could drop 5%: DBS
By Romesh Navaratnarajah: As the market moves closer to the peak of incoming supply, private home prices in Singapore could decline by up to five percent while demand remains robust at around 20,000 units, said DBS Group Research.Moreover, the government is set “to release policy review...
Continue Reading • 7 Jan 2013
Thomson View sale hits a roadblock
By Romesh Navaratnarajah: The eye-popping S$590 million collective sale of Thomson View Condominium (pictured) faces opposition from 13 of its owners who claim the block is undervalued, The Straits Times reported.As a result, the Strata Titles Board has issued a stop order that takes effect on 14...
Continue Reading • 7 Jan 2013
A warm December for China home prices
By Romesh Navaratnarajah: The average price of a new home across 100 major cities in China rose 0.03 percent to 9,715 yuan psm (S$1,905) in December 2012 compared to the same period in 2011, said the China Index Academy (CIA). On a monthly basis, home prices climbed 0.23 percent from November,...
Continue Reading • 4 Jan 2013
No word on when sales at EC can start
By Romesh Navaratnarajah: Following a no-sale order from the Urban Redevelopment Authority (URA), potential buyers who had issued cheques for units at Forestville executive condominium (pictured) are still in the dark as to the outcome of their applications, The Straits Times reported. Without...
Continue Reading • 4 Jan 2013
SeaSuites draws strong pre-launch interest
By Romesh Navaratnarajah:The 52-unit SeaSuites (pictured) has attracted strong interest from home buyers with about 100 cheques collected prior to its launch tomorrow, said marketing agent HSR International Realtors and reported by The Straits Times. Located in Pasir Panjang, the freehold project...
Continue Reading • 4 Jan 2013
Wilkie Terrace site sold for S$24.5m
By Romesh Navaratnarajah:A unit of Roxy-Pacific Holdings has secured a land parcel at 13/15 Wilkie Terrace off Dhoby Ghaut/Selegie Road for S$24.5 million in a private treaty deal brokered by Jones Lang LaSalle (JLL). The sale price translates to S$1,259 psf ppr after factoring a small...
Continue Reading • 4 Jan 2013
Brighter outlook for world economy in 2013: report
By Romesh Navaratnarajah: Encouraging developments in the global economy seen at the end of 2012 has offered a brighter outlook for this year, according to a report by Henderson Global Investors. Reduced expectations over economic growth and company earnings could make way for pleasantly...
Continue Reading • 4 Jan 2013
'Gangnam Style' singer buys LA condo in cash
By Romesh Navaratnarajah: South Korean superstar PSY recently bought a condominium unit in Los Angeles for US$1.249 million (S$1.53 million) and paid for it in cash, according to various sources. Located in a 29-floor building (pictured) on Wilshire Boulevard, the apartment comprises 2,700...
Continue Reading • 4 Jan 2013
CapitaLand makes key changes
By Romesh Navaratnarajah: To further accelerate growth and sharpen its focus on key markets, property giant CapitaLand will realign and simplify its organisational structure into four main businesses: CapitaLand Singapore, CapitaLand China, CapitaMalls Asia (CMA) and The Ascott Limited...
Continue Reading • 3 Jan 2013
UK luxury market to get foreign boost
By Romesh Navaratnarajah: Amid growing financial uncertainty, more foreign property buyers looking for new luxury homes are expected to flock to the UK, which is well-known as a safe haven for investment. Jonathan Cranley, Sales and Marketing Director for Millgate Homes, said that foreigners...
Continue Reading • 3 Jan 2013
Hot housing market raises more policy risks: Colliers
By Romesh Navaratnarajah: Rising private home prices may spell further policy risks amid the hot property sector, noted Colliers International. Flash estimates by the Urban Redevelopment Authority (URA) show that private home prices increased 1.8 percent quarter-on-quarter in Q4 2012, capping the...
Continue Reading • 3 Jan 2013
Kismis Lodge goes en bloc
By Romesh Navaratnarajah: The 64-unit Kismis Lodge (pictured) off Toh Tuck Road has been launched for collective sale, with homeowners expecting a sale price of S$90 million, said marketing agent Jones Lang LaSalle (JLL). This translates to about S$1,281 psf on the 70,283 sq ft land area and each...
Continue Reading • 3 Jan 2013
S'pore private home prices up 1.8% in Q4
By Romesh Navaratnarajah:Singapore’s private residential property index climbed to 211.9 in Q4 2012 from 208.2 in Q3. This is a hike of 1.8 percent compared to the 0.6 percent increase in the previous quarter, according to flash estimates released today by the Urban Redevelopment Authority...
Continue Reading • 2 Jan 2013
More HK homes up for grabs in 2013
By Romesh Navaratnarajah: Despite a weak residential sales market in 2012 due to new cooling measures, Hong Kong developers still expect to sell more new homes this year, said Midland Holdings in a Straits Times report.The realtor estimates that 82,700 residential units were sold in 2012, down...
Continue Reading • 2 Jan 2013
EC launch halted due to unapproved changes: URA
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) stopped Hao Yuan Investment from launching Forestville executive condominium (pictured) as changes made to its development plans were still not approved, reported The Straits Times. “Based on our preliminary investigation, we...
Continue Reading • 2 Jan 2013
Citylife developer to build more EC penthouses
By Romesh Navaratnarajah:Amara Holdings, the developer leading the consortium behind CityLife@Tampines executive condominium (EC), plans to build penthouses in other upcoming EC projects, The Straits Times reported. “Based on the good response for the penthouses... we will attempt to do it...
Continue Reading • 2 Jan 2013