9 bids submitted for Jalan Sultan site
By Romesh Navaratnarajah: A land parcel at Victoria Street/Jalan Sultan (pictured) slated for hotel or commercial and residential use (with a minimum hotel component), received a total of nine bids when the public tender closed yesterday, according to the Urban Redevelopment Authority (URA). The...
Continue Reading • 12 Oct 2012
No respite in sight for housing prices
By Romesh Navaratnarajah: Residential property prices are expected to ease in the fourth quarter, but they are unlikely to fall in the next 12 months, according to Donald Han, Special Adviser at HSR Property Group in a Business Times report. Prices of resale HDB flats could rise 0.5 percent this...
Continue Reading • 11 Oct 2012
Coffee, tea or house?
By Romesh Navaratnarajah: Two real estate agents from GPS Alliance who also happen to be a married couple, have set up a unique F&B outlet that also functions as a one-stop property advice centre, reported The Straits Times. Located in Serangoon Gardens, Bricks & Brew features waiters who...
Continue Reading • 11 Oct 2012
Tiong Seng wins contract for Haus@Serangoon Garden
By Romesh Navaratnarajah: Tiong Seng Holdings Limited has secured a contract worth approximately S$93 million to build 97 terrace houses at the Haus@Serangoon Garden development (pictured). Located in Serangoon Garden estate, the homes will comprise five bedrooms, attics, basements and...
Continue Reading • 11 Oct 2012
US mortgage applications slip
By Romesh Navaratnarajah: Mortgage applications in the US slid 1.2 percent during the week ended October 5 from the previous week, according to the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage application volume, fell 1.2 percent on a seasonally adjusted...
Continue Reading • 11 Oct 2012
Katong site up for collective sale
By Romesh Navaratnarajah:Katong Park Towers (pictured), a 30-year-old 118-unit condominium in the Mountbatten area is up for collective sale at around S$330 million to S$340 million, according to sole marketing agent DTZ.This works out to between S$1,145 and S$1,178 psf ppr, including 10 percent...
Continue Reading • 11 Oct 2012
High-end student accommodation developer opens S'pore office
By Romesh Navaratnarajah:A high-end student accommodation developer from the UK recently opened its Singapore office at Suntec Tower One in the Marina Bay Business District, catering to the growing number of international students from Singapore and other parts of Asia studying in the country....
Continue Reading • 11 Oct 2012
S'poreans still among richest
By Romesh Navaratnarajah:Singaporeans are among the wealthiest people in the world; and over the next five years, the number of millionaires living here is expected to soar some 60 percent to 249,000, reported The Business Times. According to a recent Credit Suisse wealth report, while the...
Continue Reading • 11 Oct 2012
Singapore best country for wealthy expats, says survey
By Romesh Navaratnarajah: Singapore is the best place to work and live in for affluent expatriates, according to a recent survey by HSBC Bank.Among 30 countries, expats ranked Singapore as the top place to live in based on economic factors such as earning power, ability to accumulate luxuries and...
Continue Reading • 10 Oct 2012
Scottish properties in Singapore exhibition
By Romesh Navaratnarajah:Scotland’s prime property prices have slid 0.6 percent in Q3, leading to an annual decline of three percent, according to Knight Frank. Additionally, the Q3 price index also reflects strong buyer interest as new buyer registrations increased 38 percent over the same...
Continue Reading • 10 Oct 2012
Woodlands EC site fetches S$150.18m top bid
By Romesh Navaratnarajah:A residential land parcel at Woodlands Avenue 6/Woodlands Drive 16 received five bids when the tender closed yesterday, according to the Housing and Development Board (HDB).Launched for tender on 23 August, the site is slated for development of approximately 465 executive...
Continue Reading • 10 Oct 2012
CapitaLand names Lim Ming Yan as new CEO
By Romesh Navaratnarajah: Property developer CapitaLand has appointed Mr Lim Ming Yan to be the new President and Chief Executive Officer (CEO) of CapitaLand Group, taking over the post from Mr Liew Mun Leong effective 1 January 2013.Mr Lim, who has been the Chief Operating Officer (COO) of...
Continue Reading • 10 Oct 2012
China adds support for public housing
By Romesh Navaratnarajah: China’s Finance Ministry has allocated an additional five billion yuan (S$973.6 million) for the construction of public housing and to upgrade shanty towns, said Reuters. The move signifies that Beijing is ramping up efforts to use fiscal spending to support...
Continue Reading • 9 Oct 2012
Investors fear the worst for New Zealand development
By Andrew Batt: Property investors from Singapore, Jakarta and Kuala Lumpur are said to be “in the dark” about the progress of a New Zealand housing development which was showcased in Southeast Asia during 2011.The National Business Review (NBR) has reported that progress on the...
Continue Reading • 9 Oct 2012
New cooling measures dampen stocks
By Romesh Navaratnarajah: Following the Monetary Authority of Singapore’s (MAS) new home loan restrictions, there are rumblings in the market of possibly more measures by the government to cool off the property sector. This led to a drop in bank and property stocks on Monday, reported The...
Continue Reading • 9 Oct 2012
Ascott wins top honours
By Romesh Navaratnarajah: Ascott Limited (Ascott), a wholly-owned unit of CapitaLand, has been recognised as the best serviced residence provider in Asia Pacific and Europe, following a number of international awards from leading travel publications. For the eighth consecutive year, Ascott was...
Continue Reading • 9 Oct 2012
Strong interest expected for Punggol EC
By Romesh Navaratnarajah: The newly launched Waterbay (pictured), a 383-unit executive condominium (EC) in Punggol, is expected to draw strong buyer interest with its ideal location, according to property consultants. Although many new projects have been launched in Punggol and Sengkang,...
Continue Reading • 8 Oct 2012
Bungalow sales heat up at Sentosa Cove
By Romesh Navaratnarajah: Sales of bungalows at Sentosa Cove have picked up significantly in recent weeks, rebounding from the effects of the additional buyer’s stamp duty (ABSD), reported The Business Times. Owners of around 12 bungalows issued options to potential buyers in the past two...
Continue Reading • 8 Oct 2012
Showflats still buzzing despite loan restrictions
By Romesh Navaratnarajah: Despite the new housing loan rules from the Monetary Authority of Singapore (MAS), home buyers are still flocking to condominium showflats, with strong turn-out seen last weekend at Skies Miltonia in Yishun and Riversails at Upper Serangoon, according to The Business...
Continue Reading • 8 Oct 2012
Govt tightens housing loan rules
By Romesh Navaratnarajah: The Monetary Authority of Singapore (MAS) has capped the tenure for all new residential property loans at 35 years and imposed strict loan-to-value (LTV) limits for loans exceeding 30 years. In effect since 6 October, the new rules apply to all home loans for HDB flats...
Continue Reading • 8 Oct 2012