US mortgage lending tumbled to 16-year low
By Romesh Navaratnarajah:Mortgage lending in the US continued to fall in 2011, down to its lowest recorded level in 16 years, according to the NASDAQ. The number of home loans granted last year dipped 10 percent to 7.1 million, the lowest figure reported under the Home Mortgage Disclosure Act...
Continue Reading • 19 Sept 2012
China home prices up a tiny bit
By Romesh Navaratnarajah:China’s home prices rose 0.1 percent in August continuing two months of moderate growth that signalled a gradual recovery in the property market as the government looks to improve the economy. China’s real estate market directly affects 40 other business...
Continue Reading • 19 Sept 2012
A new era for Raffles Place
By Romesh Navaratnarajah:The new 38-storey One Raffles Place Tower Two (pictured) ushers in a new era for Singapore’s central business district (CBD), said Deputy Prime Minister and Minister for Finance, Tharman Shanmugaratnam. “The opening of Tower Two reflects the confidence...
Continue Reading • 19 Sept 2012
Student accommodation buyers urged to do their homework
By Andrew Batt:EXCLUSIVE: They’ve been selling like hot cakes in Singapore this year, but concerns are now being raised about the long-term viability of U.K. student accommodation property investments.No official records exist for the number of Singaporeans who are buying overseas property,...
Continue Reading • 19 Sept 2012
EC entices buyers with classy facilities
By Romesh Navaratnarajah:To attract more buyers, the 394-unit Heron Bay executive condominium (EC) project along Upper Serangoon View (pictured) will integrate luxurious features into its homes. “We are introducing a premium class EC with a number of luxury condominium features, as well as...
Continue Reading • 19 Sept 2012
Property in Dubai is back
By Andrew Batt: Before the global market crash in 2008, Dubai’s property market was booming. Lavish launch parties, celebrity guests and limitless marketing budgets were the norm; allowing real estate companies to reap the rewards and live the high life in one of the largest expat...
Continue Reading • 19 Sept 2012
Growing interest in Malaysian property
By Andrew Batt: EXCLUSIVE: Interest in Malaysian property among overseas property buyers and investors grew slightly in August according to the latest Top of the Props report by TheMoveChannel.com, a leading overseas property website.Malaysia reached 40th place in the most-searched countries in...
Continue Reading • 19 Sept 2012
New shoebox ruling won't hurt developer
By Romesh Navaratnarajah: Following new rules by the Urban Redevelopment Authority (URA) capping the number of small units allowed in non-landed private developments outside the Central Area, existing shoebox units will likely benefit from the limited supply ahead, according to OCBC. “We...
Continue Reading • 19 Sept 2012
Banks consider financing short lease homes
By Romesh Navaratnarajah: Even with shorter leases, some banks in Singapore are willing to finance such properties, but buyers would have to pay off these mortgages more quickly or borrow less, according to The Straits Times. This follows the Urban Redevelopment Authority’s (URA)...
Continue Reading • 19 Sept 2012
Property auctions rebound during Ghost Month
By Romesh Navaratnarajah: Despite the Hungry Ghost Month which is traditionally seen as an inauspicious period, the property auction market has achieved its highest sales value in three years, with four properties sold totalling S$10.35 million. The high sales value was mainly attributed to the...
Continue Reading • 19 Sept 2012
China home buyers still eyeing Singapore
By Romesh Navaratnarajah: Chinese buyers have shown renewed interest in Singapore properties especially as Hong Kong tries to limit foreign homeownership, particularly from the mainland. “Singapore remains a choice locale for property investments, especially when the Singapore dollar looks...
Continue Reading • 19 Sept 2012
Brits hot for Spanish property
By Andrew Batt: British property buyers were snapping up Spanish property last month according to real estate agents and developers, with Russian and Chinese buyers being targeted for future sales.A study by Spanish real estate agency Inmoaction revealed that 56 percent of British buyers...
Continue Reading • 19 Sept 2012
S'poreans and expats look to India
By Romesh Navaratnarajah: Indian property has become more attractive for Singaporeans and Indian expats living in Singapore given the high property prices in the city-state, according to The Hindu. In addition, “the appreciation of the Singapore dollar, the Comprehensive Economic...
Continue Reading • 19 Sept 2012
Sufficient amenities to serve new housing supply
By Romesh Navaratnarajah: A possible housing oversupply could take place as a large pipeline of residential units are expected in various neighbourhoods, but analysts believe there will be enough amenities to serve the new developments, according to The Business Times. In Pasir Ris, there...
Continue Reading • 19 Sept 2012
Legoland opens in Malaysia
By Romesh Navaratnarajah: Thousands of visitors flooded through the gates of Legoland Malaysia (pictured) on its opening day this past Saturday. According to an AsiaOne report, some 10,000 people attended the launch of the 76-acre theme park in Johor, the first of its kind in Asia. They were...
Continue Reading • 19 Sept 2012
Home buyers put off by Ghost Month
By Romesh Navaratnarajah: Despite earlier media reports stating that sales at property launches were unaffected by the Hungry Ghost Festival, data from the Urban Redevelopment Authority (URA) showed that 1,421 new homes were sold in the month of August, 27 percent down month-on-month (m/m) from...
Continue Reading • 19 Sept 2012
HK housing market tightens further
By Romesh Navaratnarajah:The Hong Kong Monetary Authority (HKMA) has instructed local banks to tighten lending requirements for home buyers who already have a mortgage, reported the China Daily. The move marks the fifth round of measures to stop property prices from rising further, following the...
Continue Reading • 19 Sept 2012
12 HUDC estates privatised, a handful to go
By Romesh Navaratnarajah:12 of the 18 HUDC estates in Singapore have already been privatised with five estates still in the process of privatisation, according to The Straits Times. The 12 estates include Amberville, Chancery Court, Eunosville, Farrer Court, Gillman Heights, Ivory Heights,...
Continue Reading • 19 Sept 2012
Over 1000 DBSS units left unsold
By Romesh Navaratnarajah:Following the suspension of the Design Build and Sell Scheme (DBSS) last year, more than 1,000 flats have been left unsold as buyers turn to Build-to-Order (BTO) flats, reported The Straits Times. The slowdown in demand for pricier DBSS units was attributed to the surge...
Continue Reading • 19 Sept 2012
Uncompleted home prices dip over ABSD: Knight Frank
By Romesh Navaratnarajah:The overall property price index grew 0.4 percent in Q2 2012 following a 0.1 percent decline in Q1, according to data from the Urban Redevelopment Authority (URA). This was mainly attributed to strong recovery of completed non-landed property prices, which was up 2.3...
Continue Reading • 19 Sept 2012