Giant pandas arrive in Singapore
By Romesh Navaratnarajah: The arrival of two giant pandas from China was marked by a welcome ceremony at Changi Airport today.Property developer CapitaLand, which is a sponsor, joined the Wildlife Resources Singapore (WRS) in welcoming “Kai Kai”, the male panda and his female...
Continue Reading • 6 Sept 2012
London property still looks hot
By Romesh Navaratnarajah:With London’s growing appeal as an investment destination, more buyers are on the lookout for good property deals, with buying interest rising 23 percent in the three months to July, according to Knight Frank’s July 2012 Prime Central London Index. One of the...
Continue Reading • 6 Sept 2012
Singapore 2nd in competitiveness
By Romesh Navaratnarajah: Singapore has retained second spot as the most competitive economy worldwide after Switzerland, according to the World Economic Forum’s (WEF) Global Competitiveness Report. The survey, which looked at 144 global economies based on 100 indicators, also placed...
Continue Reading • 6 Sept 2012
2 reserve list sites triggered for tender
By Romesh Navaratnarajah: Two reserve list sites will be launched for sale after developers committed minimum bids that are acceptable to the Urban Redevelopment Authority (URA). Located at Jalan Jurong Kechil, the first site is zoned residential and has a land area of 1.02-ha and gross floor...
Continue Reading • 6 Sept 2012
Asian housing markets heading down
By Romesh Navaratnarajah: Asia’s residential markets are now feeling the effects of the global economic slowdown, according to research done by Global Property Guide.In a statement, the consumer portal noted that Singapore’s housing prices dipped 3.28 percent year-on-year in Q2 2012...
Continue Reading • 5 Sept 2012
Evolution of Aussie mortgage market
By Romesh Navaratnarajah: Australia’s mortgage market has changed a lot since 1947, according to Commonwealth Bank’s Centenary Report into Home Ownership, conducted by renowned demographer Bernard Salt.The findings include a significant rise in approved mortgages to 6.4 million in the...
Continue Reading • 5 Sept 2012
Govt curbs shoebox mania
By Romesh Navaratnarajah: In a bid to provide ample supply of large and small homes that cater to the diverse needs of home buyers in Singapore, the Urban Redevelopment Authority (URA) has announced new guidelines to cap the number of shoebox units, particularly at all new non-landed private...
Continue Reading • 5 Sept 2012
Ghost Month fails to scare off keen buyers
By Romesh Navaratnarajah: The traditionally inauspicious Hungry Ghost Festival has not hindered sales at new condominium launches these past two weeks, according to property analysts. Although buyers usually delay purchasing properties till the end of the festival, developers have been recording...
Continue Reading • 5 Sept 2012
SMART Expo is back in town
By Romesh Navaratnarajah: Now in its 27th year, the SMART Investment and International Property Expo (pictured) will take place this weekend (8 – 9 September) at the Sands Expo and Convention Centre, Hall A, Marina Bay Sands, Singapore. This year’s exhibition will feature a range of...
Continue Reading • 5 Sept 2012
Two residential sites launched to yield 950 homes
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) have jointly launched the public tender for two 99-year leasehold residential sites at Dairy Farm Road and Punggol Way/Punggol Walk (pictured). Estimated to yield a total of 950 homes, the...
Continue Reading • 5 Sept 2012
Property auction sales still slow
By Romesh Navaratnarajah: Eleven properties were put up for sale at an auction held by Knight Frank Singapore last week, of which two were sold even before the event. The properties that changed hands are a 904 sq ft two-bedroom condominium unit and a retail space along Petir Road. The condo at...
Continue Reading • 5 Sept 2012
Punggol EC site receives 3 bids
By Romesh Navaratnarajah: A total of three bids were submitted for a 99-year leasehold residential site (pictured) at Punggol Way/Punggol Walk, with Qingjian Realty (South Pacific) Group submitting the highest offer of S$189.87 million or S$314 psf ppr. Slated for the development of around 560...
Continue Reading • 5 Sept 2012
Property ads on UOB website called into question
By Romesh Navaratnarajah: United Overseas Bank (UOB) advertised 12 new property launches on its website but removed them immediately after queries were made. According to The Business Times, the advertisement for One Dusun Residences, which had a ‘sold out’ banner, provided...
Continue Reading • 4 Sept 2012
HSBC offers lowest-rate mortgage deal in UK
By Romesh Navaratnarajah:Further increasing competition among UK lenders, HSBC launched a new mortgage at a record low rate to attract customers with deposits of around 10 percent. HSBC’s latest seven-year fixed-rate loan of just 4.89 percent has a loan-to-value (LTV) of 90 percent and zero...
Continue Reading • 4 Sept 2012
China home prices rise for third month in August
By Romesh Navaratnarajah:Prices of new homes across major Chinese cities continued to climb last month signifying a warming property sector, according to figures released by the China Index Academy (CIA). In August, the average price of new units in 100 surveyed cities rose for the third...
Continue Reading • 4 Sept 2012
Singapore's inflation to ease further
By Romesh Navaratnarajah:Singapore’s headline inflation of four percent year-on-year in July is expected to ease further in the second half of 2012 on the back of lower housing and accommodation costs, according to Nomura Economic Research. In a Singapore Business Review report, Nomura...
Continue Reading • 4 Sept 2012
Developers hold back on luxury projects
By Romesh Navaratnarajah: Several property developers are holding back their new launches and the completion of high-end residential projects in the hope that luxury property prices will soon appreciate. While suburban homes have set price records, the luxury sector has seen both prices and...
Continue Reading • 4 Sept 2012
Farrer Road tender awarded to Far East SOHO
By Romesh Navaratnarajah: The tender for a residential site (pictured) at Farrer Road has been awarded to Far East SOHO after it submitted the top bid of S$45.77 million, said the Urban Redevelopment Authority (URA). With a land area of 0.27-ha, the site was launched for sale on 30 July with a...
Continue Reading • 4 Sept 2012
Raffles City Chengdu officially launched
By Romesh Navaratnarajah: CapitaLand has officially unveiled Raffles City Chengdu (pictured), an integrated development in the city’s central business district (CBD). Sprawled over 30,000 sq m, Raffles City Chengdu features a shopping mall, international Grade A offices, hotel and serviced...
Continue Reading • 4 Sept 2012
Pearls Centre owners want more compensation
By Romesh Navaratnarajah: Following news of the relocation, property owners at Pearls Centre (pictured) have called on the authorities for more compensation considering the potential en bloc value of their property. About three months ago, a collective sales committee was set up for the...
Continue Reading • 3 Sept 2012