Economy to grow slowly this year and next
By Romesh Navaratnarajah: Singapore’s economy is expected to rise 1.5 percent this year, according to a survey of 21 forecasters by the Monetary Authority of Singapore (MAS).The projection is notably lower than the 2.4 percent seen from the last survey in August and three percent in May,...
Continue Reading • 13 Dec 2012
Auction deals fall to lowest in 15 years
By Romesh Navaratnarajah:The residential sector claimed 44 percent or S$25.5 million of the total S$57.9 million worth of properties auctioned this year, according to Jones Lang LaSalle (JLL). This is a marked improvement from last year when commercial properties took up 50 percent of deals...
Continue Reading • 13 Dec 2012
Singapore Asia's 8th most expensive city
By Romesh Navaratnarajah:Singapore has dropped two places to eighth spot on the list of most expensive locations in Asia for expatriates, according to the latest Cost of Living survey by ECA International.Globally, it maintained its 31st position due to the movements of other locations. ...
Continue Reading • 13 Dec 2012
Rogue agent slapped with S$21K fine
By Romesh Navaratnarajah: The Council for Estate Agencies (CEA) has punished an unregistered property agent with a fine of S$21,000 for violation of the Estate Agents Act. 59-year old Lum Chap Heng was charged last month for posting flyers with his mobile number in public places, advertising for...
Continue Reading • 13 Dec 2012
PropertyGuru blood donation drive a success
By Romesh Navaratnarajah: PropertyGuru, Asia’s leading property portal successfully hosted ‘Gift Life’, a regional blood donation drive that saw a number of people, including members of the public donate blood earlier today.Several of PropertyGuru’s over 200 employees from...
Continue Reading • 12 Dec 2012
Fallen window cases hit new high
By Romesh Navaratnarajah: A total of 37 cases of fallen casement windows were recorded from January to November this year, according to statistics from the Housing and Development Board (HDB) and Building and Construction Authority (BCA). Since 2010, reports of fallen windows have been increasing...
Continue Reading • 12 Dec 2012
Singland submits top bid for Alexandra View site
By Romesh Navaratnarajah: A 6,501.5 sq m residential site (pictured) at Alexandra View (Parcel B) attracted a total of six bids, with the highest offer submitted by Singland Homes at S$332.68 million when its public tender closed yesterday. Launched by the Urban Redevelopment Authority (URA) on 7...
Continue Reading • 12 Dec 2012
Asian property markets show signs of weakness
By Andrew Batt: Global housing markets posted mixed signals during the full year ending Q3 2012 according to the latest survey of global house price trends by the Global Property Guide. The bad news is strongly concentrated in Europe as the scale of the European downturn, the sheer size of the...
Continue Reading • 12 Dec 2012
Many fear home repossession in the UK
By Romesh Navaratnarajah: More than a quarter of Britain’s mortgage holders fear that their home could be repossessed, according to a study conducted by consumer website Which?. Moreover, 50 percent of the population are also worried about the rising interest rates. While the Bank of...
Continue Reading • 11 Dec 2012
US loan applications surge
By Romesh Navaratnarajah: Mortgage applications in the US climbed in the previous week with loans for new home purchases reaching a record-high for the year, according to the Mortgage Bankers Association’s (MBA) weekly survey. MBA’s index of mortgage application activity, which...
Continue Reading • 11 Dec 2012
Ascott strengthens presence in Indonesia
By Romesh Navaratnarajah: The Ascott Limited (Ascott), the wholly-owned serviced residence unit of CapitaLand, has secured a management contract for the 181-unit Ascott Waterplace Surabaya (pictured) in Indonesia.Set to open in 2014, the property will be Ascott's third in Surabaya, after...
Continue Reading • 11 Dec 2012
Cordea Savills buys first assets in London
By Romesh Navaratnarajah: Cordea Savills, on behalf of its Prime London Residential Development Fund, has acquired the first two assets in Chelsea for around £40 million (S$78.57 million).Comprising a former college building and chapel, the sites are located between the Fulham and Kings...
Continue Reading • 11 Dec 2012
Healthy interest for The Whitley Residences, Village
By Romesh Navaratnarajah: The Whitley Residences (pictured) by Hoi Hup Realty sold 19 freehold cluster homes at around S$5 million each during a preview last Sunday. This translates to an average price of about S$850 psf, taking into account the 12 percent discount and absorption of the three...
Continue Reading • 11 Dec 2012
Singapore a favoured spot for millionaires
By Romesh Navaratnarajah: Singapore has edged out Hong Kong in terms of living conditions deemed most desirable in the Asia Pacific region for mobile millionaires, according to a survey by RBC Wealth Management.The city-state was favoured by almost a third of US dollar millionaires who spend most...
Continue Reading • 11 Dec 2012
Get a home that suits your style at P'residen
More than a place to live, a home is where a person can truly express and enjoy his/her interests, hobbies and even emotions. We can tell someone’s personality based on how his/her home looks like, including colours, features and furniture used.This idea has inspired P’residen...
Continue Reading • 11 Dec 2012
More should consider Malaysia as investment destination: report
By Romesh Navaratnarajah: Malaysia is being touted as a hotspot for foreign investors looking for favourable gains, particularly as property prices there are more affordable than other countries in the region such as Singapore and Hong Kong.A recent report by The Standard highlighted...
Continue Reading • 11 Dec 2012
Sing Holdings clinches EC site in Punggol
By Romesh Navaratnarajah: Developer Sing Holdings has secured the tender for an executive condominium (EC) site at Punggol Field Walk/Punggol East (pictured), said the Housing and Development Board (HDB).The company submitted the top bid of S$162.1 million or S$3,776.73 psm on the maximum...
Continue Reading • 11 Dec 2012
US mortgage rates up slightly
By Romesh Navaratnarajah:Average mortgage rates in the US inched up last week but are still near historic lows, keeping home buying and refinancing attractive for consumers, reported The Associated Press.According to mortgage giant Freddie Mac, the average rate for 30-year loans rose to 3.34...
Continue Reading • 10 Dec 2012
S'poreans more optimistic despite property price concerns
By Romesh Navaratnarajah: With expectations that HDB and private property prices will climb in the next half year, the property Affordability Sentiment Index (ASI) of PropertyGuru's latest Property Sentiment Survey dipped further in Q3 2012.The study, which was done in collaboration with Blackbox...
Continue Reading • 10 Dec 2012
Penthouses at The Topiary EC sold out
By Romesh Navaratnarajah: The Topiary (pictured), a new executive condominium in Seletar Hills, sold all 16 penthouse units within 90 minutes on its first morning of bookings last Friday, an indication of the strong demand for EC projects.The Straits Times reported that the showflat at Fernvale...
Continue Reading • 10 Dec 2012