Russian buyers set to dominate overseas property
By Romesh Navaratnarajah: Russian nationals, especially the middle class, are snapping up more properties overseas as their country enjoys an economic boom, low unemployment and rising salaries. This has led to foreign developers seeing strong sales from Russian buyers and investors. A...
Continue Reading • 5 Dec 2012
White site at Thomson Road receives 9 bids
By Romesh Navaratnarajah: A 6,676.8 sq m white site located at Thomson Road/Irrawaddy Road (pictured) attracted a total of nine bids with the highest offer at S$492.5 million when the public tender closed yesterday, according to the Urban Redevelopment Authority (URA). Offered on a 99-year lease,...
Continue Reading • 5 Dec 2012
Singapore plans to go underground
By Cheryl Tay:Land scarce Singapore seems to have found another way to free up land. Minister for National Development Khaw Boon Wan shared in his latest blog entry about his recent visit to the Jurong Rock Caverns (JRC) beneath Jurong Island’s Banyan Basin with Minister in the Prime...
Continue Reading • 4 Dec 2012
OCBC offers new mortgage insurance
By Romesh Navaratnarajah: In a bid to encourage consumers to take up a mortgage insurance plan, OCBC Bank has launched a scheme that gives back collected premiums at the end of the policy term, provided no claims have been made. While clients have taken out larger loans due to rising home prices,...
Continue Reading • 4 Dec 2012
Breather for developers of en bloc sites
By Romesh Navaratnarajah:Property developers will now have more time to finish developing residential sites that were acquired en bloc due to changes to the deadlines set by the government, reported The Business Times. Under new guidelines, developers will still adhere to the five-year deadline...
Continue Reading • 4 Dec 2012
CapitaLand awarded tender for Bishan site
By Romesh Navaratnarajah: A residential site at Bishan Street 14 (pictured) that was launched for public tender on 15 October has been awarded to Allamanda Residential Development, a unit of CapitaLand.The developer offered the highest bid of S$505.1 million for the 11,227.8 sq m site, beating...
Continue Reading • 4 Dec 2012
Asian buyers flock to UK student accomodation market
By Andrew Batt: A luxury student accommodation investment in the United Kingdom has sold all 106 units within just six weeks of launch – with buyers from Singapore and Hong Kong snapping up units in large numbers.Falkland House (pictured) in Liverpool city centre, the first joint venture...
Continue Reading • 4 Dec 2012
Do They Know It's Christmas house for sale
By Andrew Batt: The London house where Bob Geldof and Midge Ure wrote the iconic Band-Aid record Do They Know It’s Christmas is on the market.Zachary House on the banks of the River Thames (pictured) was owned by Midge Ure during the 1980s, and he co-wrote the charity chart-topper in the...
Continue Reading • 4 Dec 2012
Battersea project to start Asia sales
By Andrew Batt: The Malaysian consortium behind the development of the former Battersea Power Station (pictured) in London has revealed it will start selling the first phase of development in the UK and Asia next month.Media reports in the UK suggest that Jones Lang LaSalle (JLL) is close to...
Continue Reading • 4 Dec 2012
Condos that come with sky high facilities
By Romesh Navaratnarajah: True to its name, the Skies Miltonia condominium offers views of the sky and the surrounding lush landscape from its units, according to a release carried on AsiaOne. The views are what makes this development unique, especially for residents working out at the sky gym,...
Continue Reading • 3 Dec 2012
Cooling measures ignite HK mortgage war
By Romesh Navaratnarajah: Hong Kong banks are likely to fight it out in a mortgage war due to the shrinking home loan market caused by the government’s property cooling measures, according to The Standard. Considered one of the largest lenders in the Special Administrative Region (SAR),...
Continue Reading • 3 Dec 2012
Singapore slips, rated neutral
By Romesh Navaratnarajah: Due to a lack of earnings growth and soaring costs from economic restructuring, Singapore’s rating has slipped from ‘overweight’ to ‘neutral’, according to a report from CIMB Research and mentioned in The Business Times. “Within the...
Continue Reading • 3 Dec 2012
REDAS urges against further tightening measures
By Romesh Navaratnarajah: The government should allow the recent cooling measures in the public housing market to take their course, said Wong Heang Fine, President of the Real Estate Developers’ Association of Singapore (REDAS) and reported by The Business Times. In a speech given at...
Continue Reading • 3 Dec 2012
Tang Group signs deal for Iskandar devt
By Cheryl Tay:Global Skyline Sdn Bhd, a unit of Tang Group, will embark on a mixed-used development called iMedini Walk (pictured) in Iskandar Malaysia.The developer has signed a 99-year lease agreement with Medini Land Sdn Bhd, a wholly-owned subsidiary of Iskandar Investment Berhad for three...
Continue Reading • 3 Dec 2012
Hawaii has most expensive US homes
By Romesh Navaratnarajah:Of all the US states, Hawaii (pictured) is home to the most expensive residential properties, according to a report by consultancy Coldwell Banker.The study revealed that the average price for a four-bedroom two-bathroom home in Hawaii stands at US$742,000 (S$906,540),...
Continue Reading • 3 Dec 2012
US mortgage rates show little change
By Romesh Navaratnarajah: Home loan rates in the US remained virtually unchanged for the week ended 29 November, with borrowing costs hovering near historical lows as home prices recover from a six-year slump, reported Bloomberg. According to Freddie Mac, the average rate for 30-year fixed loans...
Continue Reading • 30 Nov 2012
Will Legoland stimulate Johor's property market?
By Romesh Navaratnarajah:The recent opening of Legoland Malaysia (pictured) in September has so far attracted more than 250,000 visitors from across the region, including those from Singapore, Indonesia and the Philippines. The influx of tourists will likely bolster the retail property market in...
Continue Reading • 30 Nov 2012
Growing trend of quirky living
By Romesh Navaratnarajah:A growing number of architectural enthusiasts are finding more creative ways to furnish homes and hotels, incorporating non-traditional features and materials. In San Francisco, a couple decided to use the 127-foot space in their apartment to showcase an industrial-themed...
Continue Reading • 30 Nov 2012
Rental boom in the UK
By Romesh Navaratnarajah: Demand for property rentals in the UK has grown rapidly and is not showing signs of moderating any time soon, according to the latest RICS residential lettings survey. The study revealed that interest from would-be-renters jumped to a net balance of 15 percent from the...
Continue Reading • 30 Nov 2012
CapitaLand honoured for efforts in China
By Romesh Navaratnarajah:Property developer CapitaLand has clinched the prestigious Business China Enterprise Award at the Business China Awards 2012, in recognition of its business growth and efforts to strengthen Singapore-China relations. “It is a privilege and honour that CapitaLand...
Continue Reading • 30 Nov 2012