US mortgage delinquencies on the decline
By Romesh Navaratnarajah: Home loan delinquency rates in the US declined in the second quarter and are expected to fall further for the rest of the year, according to credit information firm TransUnion Corp. The national mortgage delinquency rate or percentage of borrowers who are at least 60...
Continue Reading • 15 Aug 2012
SE Asia leading the region in luxury housing prices
By Romesh Navaratnarajah: Asia’s charge in luxury residential capital value growth is buoyed by emerging South East Asian cities, according to Jones Lang LaSalle’s (JLL) latest Residential Index.Over the past year ended-Q2, Jakarta and Manila’s indices posted double digit growth...
Continue Reading • 15 Aug 2012
Singapore homes are 13th most expensive globally
By Romesh Navaratnarajah: The latest Wealth Report 2012 jointly released by Knight Frank and Citibank has listed Singapore as the 13th most expensive real estate market in the world.This despite a decline in private home prices in 2011 by 4.7 percent to US$25,600 (S$32,000) psm. Monaco remains...
Continue Reading • 15 Aug 2012
NKF founder's bungalow up for sale
By Romesh Navaratnarajah:A good class bungalow (GCB) at 27 Olive Road (pictured) has been launched for sale by an Expression of Interest (EOI), according to marketing agent Knight Frank. The two-storey detached house which is more than 30-years old is sited on a 23,423 sq ft plot at the exclusive...
Continue Reading • 15 Aug 2012
CapitaLand moving headquarters to Westgate Tower
By Romesh Navaratnarajah:Property developer CapitaLand is scheduled to relocate to a new home in early 2015, occupying around 160,000 sq ft across 11 floors in the new 20-storey Westgate Tower (pictured). “The relocation will be a milestone for CapitaLand Group. For the first time, all...
Continue Reading • 15 Aug 2012
Small developers announce healthy quarterly results
By Romesh Navaratnarajah:Property developer KSH Holdings Limited has seen a 66 percent rise in net profit to S$1.7 million for the three months ended 30 June 2012 (Q1 FY2013), coupled with a net profit attributable to shareholders of S$4.3 million. The strong results were achieved on the back of...
Continue Reading • 14 Aug 2012
Banyan Tree recovers to post Q2 profit
By Romesh Navaratnarajah: The strong performance of the property and hotel sectors in Thailand helped Banyan Tree Holdings achieve a net profit of S$644,000 in Q2 2012, a recovery from last year’s S$7 million loss. “The increase was also boosted by the recent acquisition of Banyan...
Continue Reading • 14 Aug 2012
Singapore the world's 5th most important city for super-rich
By Romesh Navaratnarajah: Singapore has been ranked fifth amongst the most important global and regional cities for consumers with a net worth of more than US$100 million (S$124.49 million).This according to the Wealth Report 2012, a joint study by Knight Frank and Citibank, which polled...
Continue Reading • 14 Aug 2012
MND says 50-year loan not needed
By Romesh Navaratnarajah: United Overseas Bank’s (UOB) 50-year home loan, the longest loan tenure in Singapore, will not affect Singapore’s public housing market since it is unlikely to be popular, highlighted the Ministry of National Development (MND).“While such loans offer...
Continue Reading • 14 Aug 2012
Shan Gate put up for collective sale
By Romesh Navaratnarajah: Shan Gate Apartments (pictured) along Shan Road is up for collective sale, according to marketing agent Remax.It said that sellers expect bids to range between S$51.5 million and S$53.5 million, reflecting land rates of S$1,010 to S$1,049 psf ppr based on a gross plot...
Continue Reading • 14 Aug 2012
Luxury property rentals to decline?
By Romesh Navaratnarajah: Rents of newly completed high-end homes could decline further upon the completion of over 4,000 units in 2H2012. Based on CBRE data, at least 20 developments with 4,285 units are set for completion in the second half of 2012. Of this figure, around half are located...
Continue Reading • 13 Aug 2012
UOL Q2 profit falls 19% to S$171.7m
By Romesh Navaratnarajah: UOL Group posted a net attributable profit of S$171.7 million in Q2 2012, down 19 percent from S$212.9 million during the previous quarter, after generating lower income from property sales and lower fair value gains from investment properties. For 1H2012, the...
Continue Reading • 13 Aug 2012
UK lenders in mortgage war
By Romesh Navaratnarajah: Competition among UK lenders to offer the most affordable mortgage rate is heating up, thanks to lower borrowing costs and the government’s Funding for Lending Scheme. Following the launch of the new scheme in July, lenders have reduced rates across 205 deals,...
Continue Reading • 13 Aug 2012
Koh Brothers forms JV with Japanese firm to build Parc Olympia
By Romesh Navaratnarajah: Koh Brothers Group Limited has entered into a joint venture (JV) with Japan’s Okumura Corporation (OC) to develop Parc Olympia, a residential project at Flora Drive. “With Koh Brothers’ experience in developing quality, themed projects, and Okumura...
Continue Reading • 13 Aug 2012
CVH has positive outlook for China, but negative on Vietnam
By Romesh Navaratnarajah: CapitaValue Homes (CVH), CapitaLand’s value housing division, is optimistic about sales in China as opposed to Vietnam, where it is struggling. The company is “looking to acquire more land to build up the pipeline” because the China market has picked...
Continue Reading • 13 Aug 2012
Aussie mortgage approvals rose in June
By Romesh Navaratnarajah:Mortgage approvals in Australia saw their biggest gain so far this year in June, as borrowers responded positively to the Reserve Bank of Australia’s (RBA) interest rate cut of 1.25 percentage points since November 2011. According to the country’s statistics...
Continue Reading • 13 Aug 2012
CapitaLand to jointly develop Tokyo property
By Romesh Navaratnarajah: Property developer CapitaLand has negotiated a joint venture (JV) agreement with Mitsubishi Jisho Residence Co., Ltd. (MJR) and SECOM Home Life Co., Ltd (SECOM) to develop The Parkhouse Nishi-Azabu Residence (pictured) in Tokyo, Japan.MJR is a wholly-owned unit of...
Continue Reading • 13 Aug 2012
Bright Hill site awarded to UVD
By Romesh Navaratnarajah: UVD Pte Ltd has won the tender for a residential site (pictured) at Bright Hill Drive after submitting the top bid of S$291.5 million, according to the Housing and Development Board (HDB). The 13,437.1 sq m plot is expected to yield 405 condo units or flats, or a...
Continue Reading • 13 Aug 2012
More owners opting for green housing
By Romesh Navaratnarajah:With the advent of the green movement, many homeowners today, especially young ones, prefer clean designs and homes that adopt a natural balance. According to architect Randy Chan, garden terraces and “living” walls are the current trends for landed home...
Continue Reading • 10 Aug 2012
Singapore economy shrinks 0.7% in Q2
By Romesh Navaratnarajah: Singapore’s economy grew two percent year-on-year in Q2 2012, compared to 1.5 percent in the preceding quarter, according to the Ministry of Trade and Industry (MTI).But in terms of a quarter-on-quarter seasonally-adjusted annualised basis, the economy dipped 0.7...
Continue Reading • 10 Aug 2012