Jurong Kechil site awarded to World Class
By Romesh Navaratnarajah: World Class Developments has secured the tender for a residential site (pictured) at Jalan Jurong Kechil from the Urban Redevelopment Authority (URA). Beating 22 other bidders, World Class submitted the highest offer of S$73.8 million or S$5,182.95 psm on the...
Continue Reading • 23 Nov 2012
British hotel investment showcased in Singapore
By Andrew Batt:Singapore has seen a wide range of overseas property investment opportunities this year. One of the more unusual – British hotel room investments – is aiming to tempt Singaporean property buyers and investors with a property exhibition this weekend.Hever Hotel and...
Continue Reading • 23 Nov 2012
British man fined for untidy home
By Andrew Batt: A British homeowner has been fined £2,000 (around S$3,900) by his local council after failing the upkeep of his property (pictured).Neighbours of Philip Gunwhy in the English city of Worcester started to make complaints in 2008 when his property started to look like a...
Continue Reading • 23 Nov 2012
US mortgage rates hit record low again
By Romesh Navaratnarajah: The US housing market is showing further signs of recovery; as fixed-rate mortgages dropped to historic lows for the second consecutive week, according to mortgage giant Freddie Mac. The average rate of 30-year fixed loans fell from 3.34 percent last week to 3.31 percent...
Continue Reading • 22 Nov 2012
Online property sales surge across Russia
By Romesh Navaratnarajah: With Russians now the second biggest Internet users in Europe, online property sales have also increased significantly.According to a report by the International Telecommunications Union (ITU), Russia accounts for 2.8 percent (59,700,000) of the world’s Internet...
Continue Reading • 22 Nov 2012
Take a look at the UK's best home
By Andrew Batt: A striking residential property (pictured) in Brynna, South Wales, has been officially recognised as the best house in Wales and joint best in England at the What House? Awards 2012.It boasts an 88-acre ‘back garden’, while the location – Rhondda Cynon Taff -...
Continue Reading • 22 Nov 2012
Projects racing to beat sales deadline
By Romesh Navaratnarajah:There are at least eight private residential projects that are now racing the clock to sell remaining units within the two-year completion period, as mandated by the government.For instance, high-end projects such as the Hilltops in Cairnhill Circle and the The Marq on...
Continue Reading • 22 Nov 2012
IKEA giving back for Christmas
By Romesh Navaratnarajah: To celebrate the Christmas spirit, home furnishing retailer IKEA has launched its annual Soft Toy Campaign with proceeds going to children’s charities. The project is co-organised with Mediacorp and Singapore Press Holdings (SPH). For an event scheduled on 2...
Continue Reading • 22 Nov 2012
Singapore's first hotel-inspired EC to open for application
By Romesh Navaratnarajah:Touted as the first hotel-inspired executive condominium (EC) in Singapore, the 514-unit CityLife@Tampines (pictured) will open for E-Applications on November 29 at its sales gallery along Tampines Avenue 7. Located in the heart of bustling Tampines Regional Centre, the...
Continue Reading • 22 Nov 2012
UOL scoops Best Developer South East Asia award
By Andrew Batt: UOL Group collected the ‘Best Developer’ award at the second annual South East Asia Property Awards which took place on Wednesday night.More than 370 guests from around the region – including from Thailand, Singapore, Malaysia, Vietnam, Philippines, Cambodia and...
Continue Reading • 22 Nov 2012
Broker help reduces failed mortgage applications
By Romesh Navaratnarajah:Nearly a third of adults in the UK who unsuccessfully applied for a mortgage said they were first refused by a bank before being able to successfully secure a loan through a broker, a new study revealed. Commissioned by Countrywide, the research by YouGov polled 2,000...
Continue Reading • 20 Nov 2012
S'pore inflation down on lower house price growth
By Romesh Navaratnarajah: Singapore’s inflation rate may have moderated slightly in October as home prices grew at a slower pace, a sign that the rising cost of housing will remain a challenge for policymakers, Reuters reported. According to a median forecast of 12 economists, the...
Continue Reading • 20 Nov 2012
CPF enough for retirement, but only with conditions
By Romesh Navaratnarajah: If young Singaporeans in today’s workforce purchase homes within their means, they will have enough savings in their Central Provident Fund (CPF) account when they retire, according to a study commissioned by the Ministry of Manpower (MOM). Conducted by Chia Ngee...
Continue Reading • 20 Nov 2012
Hot demand for high-end homes
By Romesh Navaratnarajah: Sales of luxury landed properties grew strongly in Q3 this year, especially in the price band of S$5 million to S$10 million, which rose 11 percent quarter-on-quarter to 80 units, according to a report from DTZ. However, the sales volume for homes with prices above S$10...
Continue Reading • 20 Nov 2012
Keppel Land appoints new managers
By Romesh Navaratnarajah:In line with on-going efforts to grow the company, developer Keppel Land has made new appointments in its leadership team that will take effect on 1 January 2013.The Singapore operations, comprising residential and commercial segments will be merged into one unit helmed...
Continue Reading • 20 Nov 2012
Spain to offer residency with property purchases
By Andrew Batt: Foreigners who invest in Spanish property worth more than US$200,000 (S$244,646) will be offered residency status as the beleaguered country attempts to boost sales of its unsold homes.Trade Ministry secretary Jaime Garcia-Legaz told reporters that the plan, which is expected to...
Continue Reading • 20 Nov 2012
New study could help reduce default risk
By Romesh Navaratnarajah: Even if the principal value of a home stays the same, lower monthly instalments can significantly reduce mortgage default risk in the US, according to new research from the Federal Reserve Bank of New York. The authors Paul Willen and Andreas Fuster based their findings...
Continue Reading • 19 Nov 2012
Worries over sluggish Singapore economy
By Romesh Navaratnarajah: Singapore’s GDP this year may grow by only 1.5 percent or less, following a weaker-than-expected performance in Q3, reported The Business Times.According to the Ministry of Trade and Industry (MTI), GDP growth dropped to the bottom range of its previous forecast of...
Continue Reading • 19 Nov 2012
Boost expected for lower-priced homes: report
By Romesh Navaratnarajah: The latest restrictions on home loan tenures will likely boost demand for lower-priced non-landed private homes, or those under S$1.5 million, according to a report by Knight Frank.The cooling measures are expected to impact affordability. For instance, a 35-year old...
Continue Reading • 19 Nov 2012
Kitchen Culture ends plan to develop property
By Romesh Navaratnarajah: Mainboard-listed Kitchen Culture Holdings has axed its memorandum of understanding (MOU) with an “unrelated third party” to create a joint venture (JV) firm meant to venture into property, The Business Times reported. The plan was to engage in an en bloc sale...
Continue Reading • 19 Nov 2012