URA launches exhibition on Tianjin Eco-city project
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) has launched an exhibition showcasing the progress of the Sino-Singapore Tianjin Eco-city (pictured), a collaborative effort between the Singapore and Chinese governments. Called Sino-Singapore Tianjin Eco-city: Model for...
Continue Reading • 19 Nov 2012
Growing demand for luxury property in Thailand
By Romesh Navaratnarajah:More buyers from Asia are snapping up luxury residences in Thailand, pointing to a vibrant property market in one of the region’s most popular holiday destinations. “Around 60 percent of our property purchases come from Asian buyers,” said James Knowles,...
Continue Reading • 16 Nov 2012
US delinquency rate down
By Romesh Navaratnarajah: Fewer homeowners in the US were late on their home loan payments in Q3, according to a report by the Mortgage Bankers Association (MBA). The seasonally-adjusted delinquency rate for all mortgages dropped to 7.40 percent in Q3 compared to 7.58 percent in Q2. It was...
Continue Reading • 16 Nov 2012
Govt to release 4 sites for housing
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) continue to ramp up housing supply with the release of four 99-year leasehold sites that are expected to yield 2,045 units. Two sites at Jurong West Street 41 (Parcel A) and Ang Mo Kio Avenue...
Continue Reading • 16 Nov 2012
Titanic star's oceanfront home for sale
By Romesh Navaratnarajah:Hollywood superstar Leonardo DiCaprio is reportedly selling his oceanfront home (pictured) in Malibu, California for US$23 million (around S$28.2 million). The actor had earlier made the home available for rent at US$150,000 (S$183,827) per month for a stay of under six...
Continue Reading • 16 Nov 2012
Jalan Jurong Kechil site draws 23 bids
By Romesh Navaratnarajah: A residential site at Jalan Jurong Kechil (pictured) has attracted overwhelming response from developers, with a total of 23 bids received when the Urban Redevelopment Authority (URA) closed its public tender yesterday.Launched for sale on 19 September, the 10,170.8 sq m...
Continue Reading • 16 Nov 2012
Oxley acquires S$130m site
By Cheryl Tay:Property developer Oxley Holdings has exercised its option to buy 71/73/73A Oxley Rise (pictured) for S$130 million, reported The Business Times.Located in District 9, the freehold property has a land area of about 25,630 sq ft and was reportedly sold by trustees of The Sir Manasseh...
Continue Reading • 16 Nov 2012
Myanmar's tallest building taking shape
By Andrew Batt: Details of what will be Myanmar’s tallest building - a luxury residential development - have been announced.The Mandalay Golden Wings Construction Company has started work on a 34-storey apartment complex on land near Inya Lake that was the former home of the Industry...
Continue Reading • 16 Nov 2012
New home sales slide after spike
By Romesh Navaratnarajah: New private home sales in Singapore dropped for the month of October, according to new data by the Urban Redevelopment Authority (URA). 1,948 units were sold last month, 26 percent down from the 2,621 seen in September, but 40 percent up from the same period last year...
Continue Reading • 15 Nov 2012
M+S unveils design for Rochor skyscrapers
By Romesh Navaratnarajah: Singapore investment firm Temasek Holdings and Malaysia’s Khazanah Nasional have unveiled DUO (pictured), an integrated development in Rochor comprising both residential and office components, reported AsiaOne.Designed by world-renowned architect Ole Scheeren, the...
Continue Reading • 15 Nov 2012
More Britons choosing mortgage over marriage
By Romesh Navaratnarajah: A growing number of couples in the UK are having to choose between getting a home loan or proceeding with their wedding, considering that nuptials cost around £20,000 (S$38,784) on average — roughly equivalent to the deposit for a home. A new study by...
Continue Reading • 15 Nov 2012
KSH posts strong earnings growth of 85%
By Romesh Navaratnarajah: Property firm KSH Holdings Limited reported a significant 85 percent rise in quarterly earnings to S$9.8 million, mainly from revenue in construction projects and property development. For the second quarter ended September 30, 2012 (2QFY2013), KSH’s revenue rose...
Continue Reading • 15 Nov 2012
CEA takes action on unlicensed moneylending case
By Cheryl Tay:The Singapore Police Force has charged two male Chinese Singaporeans for operating an unlicensed moneylending business, in violation of the Moneylenders Act. The legal action was taken after the police had collaborated closely with the Council for Estate Agencies (CEA) on the...
Continue Reading • 15 Nov 2012
Khaw: Much more to be done in HDB market
By Romesh Navaratnarajah: There are clear signs that the HDB resale market is stabilising but there is much more that can be done, according to National Development Minister Khaw Boon Wan (pictured) in a Business Times report. Responding to a query in Parliament from MP Lee Bee Wah of Nee...
Continue Reading • 15 Nov 2012
Sentosa penthouse sells for S$7.8m
By Romesh Navaratnarajah: What could be seen as renewed interest in Singapore’s luxury residential market, a posh penthouse at The Residences at W Singapore (pictured) in Sentosa Cove fetched a sale price of S$7.8 million, The Straits Times reported. The unit was sold following the...
Continue Reading • 15 Nov 2012
South East Asia Property Awards shortlist is revealed
By Andrew Batt: The shortlisted developers, developments and property industry companies for the 2012 South East Asia Property Awards have been revealed.“The quality of entries this year was outstanding, which certainly made the judges’ job a tough one,” said Terry Blackburn,...
Continue Reading • 15 Nov 2012
Singapore sales success for Thailand Property Showcase
By Andrew Batt:Property worth more than THB 88 million was sold during the recent Thailand Property Showcase, the first multi-developer Thailand property exhibition to take place in Singapore.The event, organised by PropertyGuru and its Thailand website DDproperty.com, saw 16 units transacted at...
Continue Reading • 14 Nov 2012
Businesses more bearish in Q3: survey
By Cheryl Tay:Many companies in Singapore have displayed a discouraging business outlook as activity weakened further in Q3, revealed the latest Business Times-UniSIM Business Climate Survey.According to the survey, which was released ahead of the final Q3 GDP report due this Friday, more...
Continue Reading • 14 Nov 2012
Japanese condo project to launch in Singapore
By Cheryl Tay:Tokyo’s Parkhouse Shinjuku project (pictured) by Mitsubishi Jisho Residence (MJR) will be launched in Singapore, with the Jones Lang LaSalle (JLL) International Project Sales team (Singapore) led by Doris Tan as its exclusive marketing agent.The project exhibition will be held...
Continue Reading • 14 Nov 2012
Aussie mortgage demand up 0.9%
By Cheryl Tay:On a seasonally adjusted basis, the total demand for home loans in Australia grew by 0.9 percent in September, according to the Australian Bureau of Statistics.However, this was offset by a 6.3 percent drop in the amount of mortgages granted for construction in the same month....
Continue Reading • 14 Nov 2012