48% drop in China property buyers
By Romesh Navaratnarajah: The number of private homes in Singapore purchased by mainland Chinese during the first three quarters of this year plummeted by 48 percent from the same period in 2011, reported The Business Times. According to Knight Frank’s analysis of caveats data from URA...
Continue Reading • 29 Oct 2012
South Beach homes could fetch S$4,000 psf
By Romesh Navaratnarajah:The developers behind the much anticipated South Beach mixed-use project (pictured) are preparing to market its residential units, offices and shop spaces, reported AsiaOne. The consortium comprising City Developments Limited (CDL) and IOI Corporation has yet to finalise...
Continue Reading • 29 Oct 2012
A view to die for
By Andrew Batt: In Southeast Asia, a view overlooking a 200-year old cemetery isn’t considered to be a strong selling point, but that’s not the case in other parts of the world.The famous Montmarte Cemetery (pictured) in Paris' exclusive 18th Arrondissement is the resting place for...
Continue Reading • 29 Oct 2012
Property curbs impacting investor sentiment
By Romesh Navaratnarajah: Singapore’s residential segment has seen relatively fewer investors in recent years, following several rounds of cooling measures, revealed data from Credit Bureau Singapore. From 38 percent in 2010, only 33.5 percent of investors with existing home loans took out...
Continue Reading • 25 Oct 2012
Singapore to build 2000 rental flats next year
By Romesh Navaratnarajah: To address the needs of Singapore’s lower-income families, the government will build some 2,000 rental flats starting next year, reported The Straits Times.This is part of the government’s plan to deliver 57,000 rental flats by 2015, in response to growing...
Continue Reading • 25 Oct 2012
Bruce Lee's HK house up for sale
By Romesh Navaratnarajah: The Hong Kong mansion (pictured) of the late martial arts expert and actor Bruce Lee will be put up for sale following a failed attempt to redevelop the property into a museum, according to AsiaOne. The 5,000 sq ft property has a price tag of HK$180 million (S$28.4...
Continue Reading • 25 Oct 2012
CapitaLand unveils value housing fund
By Romesh Navaratnarajah: Property giant CapitaLand has set up its first value housing private equity (PE) fund called CapitaLand China Value Housing Fund (CCVHF), which will mainly invest in China projects, reported The Business Times.According to CapitaLand Financial CEO Wen Khai Meng, the fund...
Continue Reading • 25 Oct 2012
Top property sales trainer to launch own agency
By Romesh Navaratnarajah: Singapore’s real estate agency industry is set to become more competitive with the announcement that Colin Tan (pictured), widely considered Singapore’s top real estate sales trainer, will soon launch his own agency. Called District 65, the firm will comprise...
Continue Reading • 25 Oct 2012
New regulations could bruise US mortgage market
By Romesh Navaratnarajah: Realtors and mortgage bankers in the US have warned that home buyers will likely have more difficulty qualifying for a home loan in early-2013 due to new rules, Bloomberg reported. Regulators are preparing to release the language of two rules which will take effect in...
Continue Reading • 24 Oct 2012
Ascott REIT announces positive results
By Cheryl Tay: Ascott Residence Trust (Ascott REIT) posted a higher unitholders’ distribution of S$25.6 million and distribution per unit (DPU) of 2.24 cents for Q3 2012. Its gross profit for the third quarter also rose two percent to S$40.7 million.At the same time, revenue for the quarter...
Continue Reading • 24 Oct 2012
HDB projects win awards for excellence
By Romesh Navaratnarajah: The Housing and Development Board (HDB) has clinched six industry awards for its projects. HDB was conferred five awards at the FIABCI Singapore Property Awards 2012. Punggol Waterway (pictured) stood out with its sustainable and high-quality environment, while public...
Continue Reading • 24 Oct 2012
80% of Sky Green units sold at soft launch
By Romesh Navaratnarajah: Approximately 80 percent of units at Sky Green (pictured) have been taken up following its soft launch, prior to its official launch next weekend, reported The Business Times. Apartments at the 176-unit freehold residential project were selling at an average price of...
Continue Reading • 24 Oct 2012
Buyers snap up over 500 eCO units
By Romesh Navaratnarajah:A total of 515 of the 603 units released at eCO (pictured) have been sold just one month after sales began on 22 September. All 240 two- and three-bedroom apartments at the project were snapped up while SOHOs and suites also received strong interest, especially from...
Continue Reading • 24 Oct 2012
URA to launch site near Redhill MRT
By Romesh Navaratnarajah: A residential site (pictured) at Alexandra View (Parcel B) has been triggered for sale, after the Urban Redevelopment Authority (URA) accepted an application from a developer which committed a minimum bid of S$222.89 million.The 0.65-ha site was made available on the...
Continue Reading • 24 Oct 2012
Scorching EC market sees million dollar deals
By Romesh Navaratnarajah: An executive condominium (EC) unit in Yishun was recently sold for a record price of S$1.61 million, underscoring how hot this segment of the property market is right now, according to a Savills report. Data from the Urban Redevelopment Authority (URA) revealed that the...
Continue Reading • 23 Oct 2012
Ascott hunts for promising European properties
By Romesh Navaratnarajah: The Ascott Group is on the lookout for more prime properties across Europe, particularly in Paris, London and in key German cities, according to a Business Times report. This follows the company’s recent acquisition of The Cavendish hotel in London (pictured) for...
Continue Reading • 23 Oct 2012
China property loan figures soar
By Romesh Navaratnarajah: Booming sales and investment in China’s real estate sector contributed to a significant rebound in property loan volume in the third quarter, according to data from the central bank. Reuters reported that banks in China lent 416.8 billion yuan (S$80.68 billion) to...
Continue Reading • 23 Oct 2012
Housing sector to end year on high
By Romesh Navaratnarajah: Singapore’s private home sales volume could reach a total of 21,000 units by year end, given the robust sales recorded during the first three quarters of 2012, according to a report by Knight Frank. In September alone, a record 2,621 new homes changed hands,...
Continue Reading • 23 Oct 2012
Tender for New Upper Changi Road site awarded
By Romesh Navaratnarajah: A residential site (pictured) at New Upper Changi Road (Parcel A) has been awarded to Sherwood Development by the Urban Redevelopment Authority (URA). The developer submitted the highest bid of S$434.55 million for the 31,881.6 sq m site.Launched for public tender on 23...
Continue Reading • 23 Oct 2012
Top Global disposes Ang Mo Kio property
By Romesh Navaratnarajah: Real estate firm Top Global Ltd through its wholly-owned Top Global Properties, is selling a property for S$13.8 million to EX Nexus Services, reported The Business Times.Dubbed ‘51 Ang Mo Kio Avenue 3 #03-01 3rd Storey 51@AMK’, the subject property is...
Continue Reading • 22 Oct 2012