Green Lodge sold en bloc for S$191.888m
By Romesh Navaratnarajah: Green Lodge (pictured) at Toh Tuck Road has been sold for S$191.888 million, becoming the biggest en bloc sale so far this year, according to The Business Times. Located off Jalan Jurong Kechil in Upper Bukit Timah, the property has a land area of 151,075 sq ft and could...
Continue Reading • 19 Sept 2012
S'pore property market set to heat up
By Romesh Navaratnarajah:Singapore could introduce a new round of property measures to curb home prices following the US government’s third round of quantitative easing (QE3) that is expected to drive a fresh wave of capital into the city-state, according to The Business Times. The decision...
Continue Reading • 19 Sept 2012
Elderly couple fight over pricey bungalow
By Romesh Navaratnarajah:A couple in their 80s are now battling in court for the rights to a bungalow worth S$20 million at Chancery Lane, according to an AsiaOne report. The 85-year old husband, Mr See Fong Mun and his wife, 88-year old Madam Chan Yuen Lan, bought the house in 1983 under Madam...
Continue Reading • 19 Sept 2012
Heron Bay response overwhelming
By Romesh Navaratnarajah:The newly-launched Heron Bay (pictured) has seen overwhelming response from buyers, with over 700 e-applications for its 394 units on day one alone, reported The Straits Times. The executive condominium (EC) development in Upper Serangoon was launched this past Sunday and...
Continue Reading • 19 Sept 2012
Dairy Farm site attracts 9 bids
By Romesh Navaratnarajah:The tender for a residential site (pictured) at Dairy Farm Road closed yesterday with a top bid of S$244.318 million from a consortium comprising First Shine Properties and Meadows Bright Development, according to the Urban Redevelopment Authority (URA). Launched...
Continue Reading • 19 Sept 2012
China banks axe mortgage discounts
By Romesh Navaratnarajah: Many lenders in China have withdrawn their informal 15 percent discount on mortgage interest rates for first-time home buyers, an indication that banks are beginning to cooperate with government efforts to curb rising housing prices, according to local media reports. The...
Continue Reading • 13 Sept 2012
40 units sold at Leedon Residence
By Romesh Navaratnarajah:Around 40 units or 10 percent of the 381-unit freehold Leedon Residence condominium project (pictured) have been sold, according to Singapore-listed developer GuocoLand.Located at the Holland Road area, the development had a private preview in mid-August with 70 units...
Continue Reading • 13 Sept 2012
Sales flourish for Thai developer
By Romesh Navaratnarajah: Minor International has achieved strong sales of THB1.15 billion (S$45.58 million) in Q1 2012, helped by its portfolio of residences across key locations in Thailand. Ideally located on the higher floors of the St. Regis Hotel in Bangkok, the St. Regis Residences...
Continue Reading • 13 Sept 2012
Low Keng Huat sees profit boost
By Romesh Navaratnarajah: Property developer Low Keng Huat’s net profit for the second quarter ended 31 July increased 54 percent year-on-year to S$26.9 million. At the same time, revenue rose 17 percent year-on-year to S$35.2 million, supported by the start of construction of Parkland...
Continue Reading • 13 Sept 2012
Green light for UK's tallest tower
By Andrew Batt: The U.K. government has given the green light to One Nine Elms (pictured) which, at 200-metres will be the tallest residential tower in Western Europe.In what is the first demonstration of the government's new hands-off approach to planning and housing delivery, ministers have...
Continue Reading • 13 Sept 2012
Singapore to grow at slow pace
By Romesh Navaratnarajah: Singapore’s economy will grow at a slower pace this year with economists forecasting inflation to be higher than expected compared to three months ago, according to the latest quarterly Survey of Professional Forecasters by the Monetary Authority of Singapore...
Continue Reading • 13 Sept 2012
OPINION: Inhuman or a new city living trend: you decide
By Andrew Batt: In some parts of Southeast Asia, they’ve been described as “almost inhuman”, yet elsewhere they’re being marketed as “a new trend for city living”. Shoebox units, micro units, - however you know them – smaller-sized condominium units are...
Continue Reading • 12 Sept 2012
Majority of UK homeowners get loans from banks directly
By Romesh Navaratnarajah: 52 percent of UK homeowners went directly to their bank to get mortgages, according to a survey by website Myvouchercodes.co.uk.The study polled 1,682 homeowners, with 87 percent of respondents revealing that they did not shop around for other mortgage deals or rates....
Continue Reading • 12 Sept 2012
More BTOs coming but no roads
By Romesh Navaratnarajah: Building roads takes a longer time compared to flat construction, according to Lee Yi Shyan, Senior Minister of State for National Development.Mr Lee revealed this in response to concerns raised by Lee Bee Wah, MP for Nee Soon GRC in Parliament, who said that while five...
Continue Reading • 12 Sept 2012
Govt in no rush to resolve DBSS issue
By Romesh Navaratnarajah: As the government’s current priority is to increase the supply of executive condominium (EC) units and Build-to-Order (BTO) flats, it is not in a rush to finishing reviewing the Design, Build and Sell Scheme (DBSS).This follows the suspension of DBSS land sales...
Continue Reading • 12 Sept 2012
Judge rules in favour of developer
By Romesh Navaratnarajah: Singapore’s High Court has ruled in favour of a developer, slashing the taxman’s S$51.4 million annual land value assessment for a condo site at Marina Boulevard in 2007 and 2008 to S$27 million. The ruling translates to tax savings of over S$2 million for...
Continue Reading • 11 Sept 2012
Singapore home prices record slight increase
By Romesh Navaratnarajah: Singapore is among a list of major global cities that recorded residential price increases in 1H2012, according to the Savills’ World Cities Review. The city-state’s housing market saw a price uptick of 1.5 percent in 1H2012, compared to 3.6 percent over the...
Continue Reading • 11 Sept 2012
More US homeowners expect mortgage rate hike
By Romesh Navaratnarajah: The number of US homeowners expecting mortgage rates to rise grew to 40 percent in August from 36 percent the previous month, according to a recent survey by Fannie Mae. At the same time, the number of homeowners who felt that it was a good time to sell property climbed...
Continue Reading • 11 Sept 2012
Singapore trumps Hong Kong as Asia's most valued brand
By Romesh Navaratnarajah: Singapore has emerged as having the most positive brand value among 16 Asian cities, according to a location branding survey by PublicAffairsAsia and Ogilvy Public Relations.With a score of 9.7 out of 10, Singapore beat out rivals Tokyo, Hong Kong, Bangkok, Shanghai and...
Continue Reading • 11 Sept 2012
CDL, Intrepid sign off on Tai Thong Crescent deal
By Romesh Navaratnarajah: Verwood Holdings, a wholly-owned subsidiary of City Developments Limited (CDL), has signed a memorandum of general agreement (MOGA) with Intrepid Investments for a new joint venture (JV) in Tai Thong Crescent (pictured). Prior to the deal, both companies jointly won the...
Continue Reading • 11 Sept 2012