More cooling measures not likely anytime soon
By Romesh Navaratnarajah: The government is unlikely to impose new cooling measures in the immediate term, taking into consideration the current economic conditions and the effectiveness of the previous policies, according to Png Poh Soon, Head of Research at Knight Frank Singapore.His comments...
Continue Reading • 2 Oct 2012
Private home prices rise in Q3
By Romesh Navaratnarajah: Private home prices in Singapore continue to climb, with the Urban Redevelopment Authority’s (URA) flash estimates for the residential price index reflecting a 0.5 percent increase quarter-on-quarter in Q3 2012 to another record high of 208.0. The Core Central...
Continue Reading • 2 Oct 2012
Wealthy keep London property in their sights
By Andrew Batt:More than 57 percent of overseas high-net-worth individuals (HNWI) named London real estate as their top target investment class, according to Cluttons International Private Capital Survey 2012 which has been published today in association with VPC Asia Pacific.Local HNWI investors...
Continue Reading • 2 Oct 2012
Ascott Reit buys property in Hamburg
By Romesh Navaratnarajah: Ascott Residence Trust (Ascott Reit) has entered into a sale and purchase agreement (SPA) to buy a prime property located in Hamburg, Germany for €37.5 million (approximately S$59.4 million). The 166-unit Madison Hamburg (pictured) will be Ascott Reit’s...
Continue Reading • 1 Oct 2012
NHB names 91st and 92nd historic sites in S'pore
by Cheryl TayThe National Heritage Board (NHB) has named the old Ministry of Home Affairs (MHA) headquarters as Singapore’s 91st historic site, and the 5.6 ha Phoenix Park (pictured) off Tanglin Road as the 92nd.During the colonial era, the MHA building served as the office of the...
Continue Reading • 1 Oct 2012
US mortgages rebound in a big way
By Romesh Navaratnarajah: Moving on from the 2008 global financial crisis, the mortgage sector in the US is witnessing a comeback, boosting the profits of major banks, according to Thomson Reuters I/B/E/S.Major lenders JPMorgan Chase and Wells Fargo are expected to register over US$4.5 billion...
Continue Reading • 1 Oct 2012
Govt to spend S$500m on elder-care facilities
By Romesh Navaratnarajah: To address the needs of a fast-growing elderly population in Singapore, the government plans to spend S$500 million in the next four years to boost the number of nursing homes, senior activity centres and senior care centres.Most of the aged-care facilities will be built...
Continue Reading • 1 Oct 2012
US mortgage rates tumble again
By Romesh Navaratnarajah:Mortgage rates in the US dropped to record lows and the mortgage securities sector is on the verge of converging with benchmark 10-year Treasury yields, with investors preparing for substantial purchases by the Federal Reserve, reported the Financial Times. According to...
Continue Reading • 1 Oct 2012
Review current cooling measures before imposing new ones: REDAS
By Romesh Navaratnarajah:Another round of property cooling measures should not be implemented until a thorough review of the existing measures has been conducted, according to Wong Heang Fine (pictured), President of the Real Estate Developers’ Association of Singapore (REDAS). PropertyGuru...
Continue Reading • 1 Oct 2012
Govt releases 3 sites to yield 1375 homes
By Romesh Navaratnarajah:The government has released three residential sites that could yield around 1,375 homes providing more choices for home buyers, according to the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB). Launched for sale under the confirmed list, two...
Continue Reading • 28 Sept 2012
DDProperty announces latest property showcase
By Romesh Navaratnarajah:Thailand’s leading property portal, DDProperty.com, a member of PropertyGuru Group, will hold its much awaited DDProperty Showcase at Central Plaza Ladprao in Bangkok from 4 to 10 October 2012. The seven-day event will feature top property developers such as CMC...
Continue Reading • 28 Sept 2012
PM Lee promises more affordable homes
By Romesh Navaratnarajah:Prime Minister Lee Hsien Loong has reassured Singaporeans that the government will build more flats at affordable prices so that it remains within the reach of young first-time buyers, noted The Straits Times. “It's not my purpose to build flats and leave them on...
Continue Reading • 28 Sept 2012
Singapore inflation rate cools down
By Romesh Navaratnarajah:The inflation rate slowed further in August, giving Singapore’s central bank (MAS) leeway to relax monetary policy next month by slowing down the appreciation of the Singaporean dollar, reported Asia One.Singapore’s consumer price index increased by 3.9...
Continue Reading • 26 Sept 2012
Local buyers fire up luxury home sales
By Romesh Navaratnarajah:Singaporean buyers of luxury homes so far this year have surpassed the total number of similar transactions recorded for the entire 2011, according to The Business Times.A report by DTZ revealed that 46 luxury homes were acquired by Singaporeans year-to-date, exceeding...
Continue Reading • 26 Sept 2012
Aussie lenders scramble for share in sub-prime lending market
By Romesh Navaratnarajah:Non-bank lenders in Australia are taking advantage of the growing sub-prime lending sector, a market that comprises low-doc loans and mortgages for borrowers with credit problems, who are ineligible for ‘prime’ loans, reported The Australian.In particular,...
Continue Reading • 26 Sept 2012
Construction of elderly home in Bishan East to proceed
By Romesh Navaratnarajah:Despite previous objections from some residents, the Ministry of Health (MOH) has decided to push through with the construction of a new nursing home for the elderly on an empty land along Bishan Street 13, reported Asia One.But to appease the residents, the elderly care...
Continue Reading • 26 Sept 2012
CDL named best green builder in Asia Pacific
By Romesh Navaratnarajah:City Developments Limited (CDL) has been honoured as the 2012 Asia Pacific Green Builder of the Year, as part of the 2012 Frost & Sullivan Asia Pacific Green Excellence Awards.The awards were conferred to Asia Pacific companies that excelled in green product and...
Continue Reading • 26 Sept 2012
URA awards tender for two residential sites
By Romesh Navaratnarajah:The tender for two 99-year leasehold residential sites at Dairy Farm Road and Prince Charles Crescent (pictured) were awarded to the developers who submitted the highest bids, according to the Urban Redevelopment Authority (URA).The Dairy Farm Road site was awarded to a...
Continue Reading • 26 Sept 2012
ABSD boosts taxman's collection
By Romesh Navaratnarajah:Over half a billion dollars was collected by the taxman from additional stamp duties for property purchases, of which S$450 million came from the additional buyer’s stamp duty (ABSD) introduced last December, according to the Inland Revenue Authority of Singapore...
Continue Reading • 26 Sept 2012
Heron Bay one of most popular ECs in recent times
By Romesh Navaratnarajah:A total of 1,664 e-applications were lodged for 394 units at Heron Bay (pictured) in just one week, according to The Business Times. Located at Upper Serangoon View, the executive condominium (EC) project now has one of the highest subscription rates in the last few...
Continue Reading • 25 Sept 2012