Prime GCB site up for sale
By Romesh Navaratnarajah: A 24,000 sq ft Good Class Bungalow (GCB) site (pictured) located at the Holland Rise GCB Area in District 10 has been launched for sale by Expression of Interest (EOI). “The property is situated on an elevated ground, at one of the highest points in the exclusive...
Continue Reading • 1 Nov 2012
CapitaLand enters into agreement with China's banks
By Romesh Navaratnarajah: Property developer CapitaLand has entered into new strategic co-operation agreements with China’s leading banks in an effort to grant a credit limit allocation of up to RMB50 billion (about S$10 billion) to the group’s China businesses. The allocations would...
Continue Reading • 1 Nov 2012
Daewoo E&C is back to build The Scotts Tower
By Romesh Navaratnarajah: Singapore developer Far East Organization has appointed South Korean firm Daewoo Engineering and Construction to build The Scotts Tower (pictured), the first Far East SOHO development at a cost of S$112.8 million. “With Daewoo’s strong engineering...
Continue Reading • 1 Nov 2012
PropertyGuru presents first Thai showcase in Singapore
By Romesh Navaratnarajah:PropertyGuru will feature several premier residential developments from Thailand at its inaugural Thailand Property Show (TPS), taking place this weekend (3 – 4 November) at the Orchard Hotel Singapore. The exhibition will feature 10 developments, including The...
Continue Reading • 1 Nov 2012
London landmark to launch in Singapore
By Romesh Navaratnarajah: UK developer Telford Homes will launch its Stratford Plaza development (pictured), located right in the heart of London, at a property exhibition in Singapore this weekend (2 – 4 November) at the St. Regis Hotel. According to exclusive marketing agent Jones Lang...
Continue Reading • 1 Nov 2012
Indigo Park takes the LEED
By Andrew Batt: Kiawah Island in South Carolina, a residential resort community in the south east of the United States, is offering a unique residential real estate investment opportunity for those committed to sustainable and eco-conscious living. Indigo Park, a neighbourhood within Kiawah...
Continue Reading • 1 Nov 2012
Malaysians, Chinese snap up last units at One Hyde Park
By Andrew Batt: Buyers from Asia have purchased the last five units at the ultra-luxury One Hyde Park development in London – home of the most expensive apartment in the U.K. capital.These final sales mean buyers from China and Malaysia make up more than 30 percent of the total sales at the...
Continue Reading • 1 Nov 2012
ABSD is doing its job: analysis
By Romesh Navaratnarajah: The additional buyer’s stamp duty (ABSD) has effectively reduced the number of non-permanent resident foreigners buying private homes in Singapore, thereby increasing the share of Singaporean and PR buyers, The Business Times reported. Of the 23,312 caveats lodged...
Continue Reading • 31 Oct 2012
Hurricane Sandy prompts mortgage relief
By Romesh Navaratnarajah: Borrowers on the US east coast affected by Hurricane Sandy could be eligible for a temporary break on their home loan payments from Freddie Mac and Fannie Mae, reported The Wall Street Journal. The mortgage giants announced that firms collecting payments for them can...
Continue Reading • 31 Oct 2012
Ascott strengthens leadership in Vietnam
By Romesh Navaratnarajah: The Ascott Limited, the serviced residence arm of CapitaLand, has clinched a contract to manage the 100-unit Somerset Vista Ho Chi Minh City in Vietnam. Scheduled to launch in December, the serviced residence is part of The Vista, a prime residential development by...
Continue Reading • 31 Oct 2012
Jones Lang reports steady growth
By Romesh Navaratnarajah: Global property firm Jones Lang LaSalle (JLL) posted an adjusted net income of US$55 million (S$67 million) last quarter, representing US$1.23 (S$1.50) per share. In addition, consolidated revenue rose five percent to US$949 million (S$1.2 billion), while on a fee...
Continue Reading • 31 Oct 2012
Residential leases down for September
By Romesh Navaratnarajah: While Singapore’s residential leasing market cooled in September, leasing volume and median rents for Q3 still peaked at record highs, according to data from the Urban Redevelopment Authority (URA) and Savills Research & Consultancy.Last quarter, leasing volume...
Continue Reading • 31 Oct 2012
Sentosa Cove home reportedly hits S$3,214 psf
By Romesh Navaratnarajah: A new record price psf of land area has been set after a Sentosa Cove bungalow was sold for S$32.5 million, or S$3,214 psf on the land area of 10,111 sq ft. The Ocean Drive property was reportedly bought by a Malaysian citizen from a Singaporean investor, noted The...
Continue Reading • 31 Oct 2012
India launches next megacity
By Cheryl Tay:Award-winning architectural firm Broadway Malyan has been tasked with a major role in the development of a new 125-acre city in North Bangalore, developed by India’s Bhartiya Group.Bhartiya City will be the single largest urban development within the limits of any Indian...
Continue Reading • 30 Oct 2012
CapitaLand profit surges 85%
By Romesh Navaratnarajah: Property developer CapitaLand has posted a massive 85.1 percent year-on-year rise in its net profit to S$148.5 million in Q3 2012 and a 12.9 percent upturn in revenue to S$686.9 million.The group’s profit growth was driven by higher revenue from development...
Continue Reading • 30 Oct 2012
GCB of late NKF founder sold
By Romesh Navaratnarajah: Two well-located landed properties, a Good Class Bungalow (GCB) at 27 Olive Road (pictured) and a bungalow at 44 Faber Drive changed hands recently, according to Knight Frank. The GCB was sold for S$26.1 million, or around S$1,114 psf. The house was put up for sale by...
Continue Reading • 30 Oct 2012
UK lending scheme pushes up mortgage approvals
By Romesh Navaratnarajah: Home loan approvals in the UK climbed to a four-month high in September as the central bank’s Funding for Lending Scheme (FLS) boosted the availability of mortgages, Bloomberg reported. Last month, banks granted 50,024 loans compared with 47,921 (revised) in...
Continue Reading • 30 Oct 2012
Record price for Heron Bay penthouse
By Romesh Navaratnarajah: A five-bedroom penthouse at Heron Bay EC (pictured) has been sold for S$1.774 million, surpassing the previous record set last week when a double-storey penthouse at 1 Canberra, also an EC development, fetched S$1.61 million, reported The Business Times. Analysts noted...
Continue Reading • 30 Oct 2012
Singapore home prices still rising
By Romesh Navaratnarajah: Private home and resale HDB flat prices are still rising but at a slower pace, according to official data for Q3 2012 released by the government this morning. Figures from the Urban Redevelopment Authority (URA) showed that private home prices inched up 0.6 percent...
Continue Reading • 29 Oct 2012
Fixed-rate mortgages more appealing
By Romesh Navaratnarajah:Australian home buyers who opted for fixed-rate mortgages have enjoyed greater savings compared to those that took out variable rate loans, The Australian reported.According to Mitchell Watson, analyst at financial services firm Canstar, borrowers with an average 25-year...
Continue Reading • 29 Oct 2012