Are US banks struggling?
By Romesh Navaratnarajah:To cope with the higher demand for housing loans and refinancing, large US banks are hiring more mortgage brokers, according to media reports. While the 2008 global financial crisis affected many banks in the country, lenders still committed to the mortgage business are...
Continue Reading • 22 Oct 2012
206 Waterbay EC units sold on 1st day
By Romesh Navaratnarajah: Waterbay (pictured), a new executive condominium (EC) located at the junction of Punggol Central and Edgedale Plains has received strong interest, with around 206 of the 383 units available snapped up on the first day of bookings last Friday, according to The Business...
Continue Reading • 22 Oct 2012
Boutique project launches in Farrer Park
By Romesh Navaratnarajah: A new iconic mixed-use development called LE SOMME has been launched in the Farrer Park enclave by boutique developer Splott.Located in Somme Road, the development comprises 25 residential and three commercial units. Units range from 295 sq ft for a one-bedroom apartment...
Continue Reading • 22 Oct 2012
Seasons Luxury Apartments: Leisure amidst nature
Johor-based developer Teori Warisan Sdn Bhd is constructing a premium residence in a very safe and accessible location with lots of exclusive extras — the Seasons Luxury Apartments@Amara Larkin (pictured).The Seasons Luxury Apartments is located 2.5 km from the Johor Bahru city centre and...
Continue Reading • 19 Oct 2012
Martin No.38 wins coveted award
By Romesh Navaratnarajah: Martin No.38 (pictured), a loft-inspired development by luxury developer SC Global Developments, was awarded the highest honour of “Best Housing Project” for Completed Developments at the World Architecture Festival held at Marina Bay Sands Singapore.In its...
Continue Reading • 19 Oct 2012
Keppel Land posts robust growth
By Romesh Navaratnarajah: Property developer Keppel Land posted a strong 62.2 percent profit growth to S$311.1 million for the nine months ended 30 September, mainly from net profit in property trading and higher earnings contribution from its Singapore and China projects. Contribution from...
Continue Reading • 19 Oct 2012
Iconic Matilda House to get new life
By Romesh Navaratnarajah: Left abandoned for more than 20 years, Matilda House in Punggol (pictured) will be refurbished into a condominium clubhouse in 2015, according to a Straits Times report.Located opposite Punggol MRT station, the 417 sq m single-storey house is the last historical bungalow...
Continue Reading • 19 Oct 2012
London calling with new property investment opportunity
By Romesh Navaratnarajah: Goodman’s Fields (pictured), a new landmark mixed-use development right in the heart of London will be showcased to prospective buyers and investors in Singapore from 9 – 11 November at The Regent Hotel: Boardroom II and III. Developed by the UK’s...
Continue Reading • 19 Oct 2012
Mixed bag for US mortgage rates
By Romesh Navaratnarajah: Home loan activity in the US dipped last week and long-term interest rates were mixed, according to the Mortgage Bankers Association (MBA). In the week ended 12 October, mortgage activity fell 4.2 percent while refinancing dropped by five percent. In contrast, the...
Continue Reading • 18 Oct 2012
CapitaValue Homes to develop 700 homes in Shanghai
By Romesh Navaratnarajah: CapitaLand, through its subsidiary CapitaValue Homes Limited, has acquired its second residential site in Pudong, Shanghai for RMB166.29 million (approximately S$33.26 million).The 36,920 sq m land parcel will be developed into some 700 value homes and offer 15,000 sq m...
Continue Reading • 18 Oct 2012
Strong line-up for MIPIM Asia
By Andrew Batt: MIPIM Asia, the world's property market in Asia Pacific, is set to bring together the best of the best in the Asia Pacific real estate arena next month in Hong Kong. Organised by Reed MIDEM, a division of Reed Exhibitions, MIPIM Asia will take place on November 7-9, and showcase...
Continue Reading • 18 Oct 2012
Bungalow plot near bankers' lane up for sale
By Romesh Navaratnarajah: A modern two-storey bungalow (pictured) located on a prime freehold site in Chee Hoon Avenue is up for sale at an indicative price of between S$20.5 million and S$21.5 million, according to sole marketing agent HSR Investment Sales. The site area is approximately 14,093...
Continue Reading • 18 Oct 2012
New app protects against agent fraud
By Romesh Navaratnarajah: In a move to provide consumers with better access to services and information, the Council for Estate Agencies (CEA) has unveiled CEA@SG, the mobile version of its online Public Register of Estate Agents and Salespersons. AsiaOne reported that CEA’s very first...
Continue Reading • 18 Oct 2012
Cities need to relook shoebox living
By Romesh Navaratnarajah: The controversy surrounding shoebox units has spurred many diverse viewpoints in the past. And now a new report by Savills Research called “Shoebox units – Is small smart or is bigger better?” is championing the role such homes have in major cities...
Continue Reading • 18 Oct 2012
Bullish bids for New Upper Changi Road site
By Romesh Navaratnarajah: A residential site (pictured) at New Upper Changi Road (Parcel A) attracted strong interest with a total of 11 bids received when the Urban Redevelopment Authority (URA) closed the public tender yesterday.The site has an area of 31,881.6 sq m and a maximum permissible...
Continue Reading • 17 Oct 2012
DBS inaugurates new headquarters
By Romesh Navaratnarajah:DBS Bank marked a big milestone today with the inauguration of its new headquarters at Marina Bay Financial Centre (MBFC). More than half of the bank’s 8,000-strong employees have moved to the new premises, called DBS Asia Central at MFBC Tower 3, which houses the...
Continue Reading • 17 Oct 2012
Govt won't build more executive maisonettes
By Romesh Navaratnarajah: Amid the recent buzz over record deals for executive maisonettes (EMs), the government is unlikely to build any more of these homes, said National Development Minister Khaw Boon Wan. In a written response to Parliament, he explained that EMs are no longer necessary as...
Continue Reading • 17 Oct 2012
More cuts won't help lift Aussie mortgage market
By Romesh Navaratnarajah: Further rate cuts by the Reserve Bank of Australia (RBA) will do little to stimulate growth in the country’s AU$1.25 trillion (S$1.57 trillion) mortgage market, according to a report by JP Morgan. This month, the central bank slashed the policy interest rate by...
Continue Reading • 17 Oct 2012
Punggol set to boom
By Romesh Navaratnarajah: The Housing and Development Board (HDB) has announced plans for the second phase of Punggol’s development, including a new Northshore District that will provide more seafront public housing. According to The Business Times, the Northshore District will be one...
Continue Reading • 17 Oct 2012
Keppel Land China buys another slice of Chengdu
By Romesh Navaratnarajah: Keppel Land China has expanded its presence in Chengdu with the acquisition of a 28.7-ha prime residential site that’s expected to yield 573 homes. The site is held under Chengdu Shengshi Jingwei Real Estate Investment, which the company acquired for RMB680.4...
Continue Reading • 17 Oct 2012