Bishan site receives 9 bids
By Romesh Navaratnarajah: Allamanda Residential Development, a unit of CapitaLand, has submitted the top bid of S$505.1 million for a housing site at Bishan Street 14 (pictured), according to the Housing and Development Board (HDB). The 11,227.8 sq m site could be developed into 645 residential...
Continue Reading • 30 Nov 2012
Elderly Chinese couple living in the fast lane
By Romesh Navaratnarajah: An apartment building in China (pictured) oddly stands in the middle of a new road as one of its owners refused to sell their home to the government, claiming that the compensation was not enough, according to media reports. Luo Baogen and his wife are still occupying...
Continue Reading • 29 Nov 2012
Govt must make tough decisions on land supply
By Romesh Navaratnarajah: The Ministry of National Development (MND) will find it hard deciding on land supply to be allocated for private housing projects in 1H2013, said property experts. It will have to balance several factors such as looming supply glut, record home sales, an economic...
Continue Reading • 29 Nov 2012
British developer unveils ambitious project
By Romesh Navaratnarajah: Property values in London will likely surge due to an expected undersupply of new homes in the capital. In fact, Savills Research predicts an overall shortfall of 50,000 new units by 2016. In the city’s central district of Victoria, prime property prices will...
Continue Reading • 29 Nov 2012
Riversails condo raises the bar
By Romesh Navaratnarajah: With many new projects springing up in the northeast, the Riversails condominium (pictured) in Upper Serangoon Crescent by developer Allgreen Properties is considered to have a competitive edge over similar developments in Punggol and Hougang.Comprising 12 buildings,...
Continue Reading • 29 Nov 2012
US housing market continues road to recovery
By Romesh Navaratnarajah: Housing prices in many major US cities rose in September with Standard & Poor's/Case-Shiller 20-city index posting a three percent increase from the same month last year. Prices in the July to September quarter also climbed 3.6 percent compared to last year. Over the...
Continue Reading • 29 Nov 2012
Nationwide mortgage loans pick up
By Romesh Navaratnarajah: Nationwide said it was responsible for nearly 20 percent of all new mortgages granted to first-time buyers in the UK, a sign that it has played its part in bolstering the country’s economic recovery, The Guardian reported. Gross lending for the first half of this...
Continue Reading • 28 Nov 2012
Cordea Savills appoints business director for Asia
By Romesh Navaratnarajah: Property investment manager Cordea Savills has appointed Reynold Chan (pictured) as its new Business Development Director for Asia, reporting to CEO Justin O’Connor.Chan will lead new business initiatives with institutions, family offices and high-net-worth...
Continue Reading • 28 Nov 2012
Half of UK's wealthiest own more than one home
By Romesh Navaratnarajah: Property ownership remains a top priority for many millionaires in the UK, with 49.9 percent of high-net-worth individuals (HNWIs) owning more than one property, according to Skandia’s ‘Millionaire Monitor’ Report 2012.The report also revealed that more...
Continue Reading • 28 Nov 2012
S'pore housing market slows down
By Romesh Navaratnarajah: Singapore’s residential property market performed weakly in Q3 2012, with the sales volume falling 11.7 and 26.7 percent in the primary and secondary markets respectively.According to a report from Jones Lang LaSalle (JLL), home sales in the prime market dropped 22...
Continue Reading • 28 Nov 2012
Mortgage competition heats up down under
By Romesh Navaratnarajah:Major banks in Australia have held back passing the Reserve Bank of Australia’s (RBA) rate cuts in full to borrowers, enabling smaller lenders to join the competition, according to the 2013 Deloitte Australian Mortgage Report. These include National Australia Bank,...
Continue Reading • 27 Nov 2012
EC demand still hot
By Romesh Navaratnarajah: Executive condominiums (ECs) are arguably one of the most popular properties this year, underlined by strong demand for the latest new launches, reported The Straits Times. According to property experts, recent bids for EC sites underscore optimism for the...
Continue Reading • 27 Nov 2012
80% are happy with property agents
By Romesh Navaratnarajah: Eight in every 10 consumers are pleased with the conduct and services provided by property agents, according to results of the first Public Perception Survey conducted by the Council for Estate Agencies (CEA). A total of 2,260 consumers and potential consumers...
Continue Reading • 27 Nov 2012
Seletar Hills EC to open for application
By Romesh Navaratnarajah: The Topiary (pictured), a new 700-unit executive condominium development along Fernvale Lane at Seletar Hills will open for E-Applications this Friday, with units expected to fetch S$700 to S$720 psf, according to The Business Times.The development comprises...
Continue Reading • 27 Nov 2012
Ascott ups presence in Qatar
By Romesh Navaratnarajah: CapitaLand’s serviced residence unit, Ascott Limited, has expanded its presence in Doha, Qatar with the opening of the 229-unit Ascott Doha (pictured), reported The Business Times.“We see strong demand for serviced residences in Qatar...Our first serviced...
Continue Reading • 27 Nov 2012
Hao Yuan wins Pasir Ris EC tender
By Romesh Navaratnarajah: An executive condominium (EC) site at the junction of Pasir Ris Drive 3 and Pasir Ris Rise (pictured) has been awarded to highest bidder Hao Yuan Investment, said the Housing and Development Board (HDB).It offered the top bid of S$207 million during a public tender,...
Continue Reading • 27 Nov 2012
UK home loans pick up
By Romesh Navaratnarajah: Overall mortgage lending in the UK grew by four percent to £12.9 billion (S$25.22 billion) in October compared to the same period last year, an indication that the Funding for Lending Scheme (FLS) from the Bank of England is effective. The figures from the Council...
Continue Reading • 23 Nov 2012
Jones Lang scores three wins
By Romesh Navaratnarajah: Property consultancy Jones Lang LaSalle (JLL) nabbed three awards at the recently concluded South East Asia Property Awards (pictured) in Singapore. JLL won Best Property Consultancy for Indonesia and the Philippines, while JLL Hotels was named Best Property Consultancy...
Continue Reading • 23 Nov 2012
Pasir Ris EC site draws S$207m top bid
By Romesh Navaratnarajah:An executive condominium (EC) site at the junction of Pasir Ris Drive 3 and Pasir Ris Rise (pictured) attracted a total of 10 bids when the public tender closed yesterday, according to the Housing and Development Board (HDB). The top bid of S$207 million submitted by Hao...
Continue Reading • 23 Nov 2012
Private home sales predicted to drop in 2013
By Andrew Batt:The number of private home sales in Singapore could drop by more than 20 percent in 2013 after “spectacular” increases this year.David Neubronner, Head of Residential Project Sales for Jones Lang LaSalle (JLL), issued the warning this week, suggesting that the number of...
Continue Reading • 23 Nov 2012