T.K. Yeo unveils first high-rise development
By Romesh Navaratnarajah: Privately-held developer T.K. Yeo, which is controlled by the Yeo Hiap Seng family, has launched Fifteen Robin (pictured), the company’s first high-rise residential development at 15 Robin Road. Comprising a total of 32 luxury apartments, the 17-storey project...
Continue Reading • 2 Aug 2012
Jalan Sultan site triggered from URA's reserve list
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) has accepted an application from a developer who committed a minimum bid of S$148.69 million to launch the public tender for a site (pictured) at the junction of Victoria Street and Jalan Sultan. Made available through the...
Continue Reading • 2 Aug 2012
NY penthouse yours for US$100m
By Romesh Navaratnarajah: The most expensive apartment in New York City, a penthouse (pictured) occupying the top three floors of CitySpire condominium in Manhattan, is on sale for a whopping US$100 million (S$124.58 million). Designed by internationally acclaimed interior designer Juan Pablo...
Continue Reading • 2 Aug 2012
Aussie mortgage growth falls short of forecast
By Romesh Navaratnarajah:Mortgage growth in Australia remains at a record low despite recent interest rate cuts, according to new private credit data released by the Reserve Bank of Australia (RBA). Even with a 50 basis point cut in May and 25 basis point cut in June, housing credit climbed...
Continue Reading • 1 Aug 2012
Tanah Merah Kechil Road site fetches top bid of S$285m
By Romesh Navaratnarajah: The public tender for a residential site at Tanah Merah Kechil Road (pictured) which closed yesterday received a top bid of S$285.21 million jointly from Fragrance Group and World Class Land, according to the Urban Redevelopment Authority (URA). The 99-year leasehold...
Continue Reading • 1 Aug 2012
Singapore property buyers attracted by Bangkok's The Mark condo
By Andrew Batt:EXCLUSIVE: The recent strong surge in interest for Thailand property from Singaporean buyers and investors was again in evidence last weekend at the launch of The Mark Condominium (pictured) in the city-state.More than 30 units in the Bangkok condo were sold according to William...
Continue Reading • 1 Aug 2012
En bloc deals picking up pace
By Romesh Navaratnarajah: En bloc deals saw a big boom in the mid-2000s when many lucky homeowners became instant millionaires after closing profitable collective deals. Since then, many Singaporeans have been trying their luck, hoping to emulate the same success. But with the property market...
Continue Reading • 1 Aug 2012
Philippines Property Show a resounding success
By Romesh Navaratnarajah: PropertyGuru’s inaugural Philippines Property Show (PPS) in Singapore last month successfully sold around 66 units valued at PHP288 million (S$8.6 million).The event showcased over 15 luxury developments from the Philippines and was attended by about 900 property...
Continue Reading • 1 Aug 2012
Asia Pacific property investment volumes up 19% in Q2
By Romesh Navaratnarajah: Total global real estate investment volumes soared 24 percent to S$108 billion in Q2 2012, according to Jones Lang LaSalle (JLL) Capital Markets Research. Data collected from over 60 countries in Q2 shows an upturn from the small dip in activity for Q1 2012, when volumes...
Continue Reading • 31 Jul 2012
F&N's bid to privatise HK unit fails
By Romesh Navaratnarajah: Fraser & Neave’s (F&N) effort to privatise its Hong Kong-listed unit Frasers Property (China) failed after independent stockholders turned down the deal. The shareholders followed the recommendation of the independent financial adviser (IFA) and...
Continue Reading • 31 Jul 2012
Bangkok prime property prices growing fastest globally
By Andrew Batt: Prime property prices in Bangkok are growing faster than anywhere else in the world, according to a new report published by Knight Frank.In its Prime Global Cities Index report, the agency noted that prices for condominiums in prime central Bangkok have risen 29 percent...
Continue Reading • 31 Jul 2012
Prices of small units slipped 1.4%: NUS index
By Romesh Navaratnarajah: Prices of completed small apartments measuring up to 506 sq ft declined 1.4 percent in June, according to the National University of Singapore’s (NUS) Singapore Residential Price Index (SRPI). Based on flash estimates, the sub-index for units in the Central Region...
Continue Reading • 31 Jul 2012
US mortgage rates inch up this week
By Romesh Navaratnarajah: US mortgage rates rose slightly from record lows last week following news that the European Central Bank will implement measures to control borrowing costs in Spain and Greece. Last week, average 30-year fixed rate mortgages fell below 3.5 percent for the first time,...
Continue Reading • 31 Jul 2012
Private home sales still going strong
By Romesh Navaratnarajah: The private residential market continued to see robust sales last week with V On Shenton (pictured) selling 50 units, bringing total sales to 140. Developed by United Industrial Corporation (UIC), the 54-storey tower was launched on 20 July with 190 out of its 510...
Continue Reading • 31 Jul 2012
URA launches 3 residential sites for sale by public tender
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) has launched the public tender for two 99-year leasehold residential sites at Farrer Road (pictured) and Tai Thong Crescent (Parcel C) under the reserve list.The Farrer Road plot has a land area of around 0.27-ha. With a maximum...
Continue Reading • 31 Jul 2012
Landed homes continue to shine
By Romesh Navaratnarajah: Landed home prices grew 0.4 percent according to the Urban Redevelopment Authority (URA) Index, indicating that demand for such homes remains healthy. Terraced homes saw the biggest price rise at 1.2 percent, followed by semi-detached houses at 0.6 percent, while...
Continue Reading • 31 Jul 2012
Govt to boost infrastructure for growing population
By Romesh Navaratnarajah:In a bid to meet the needs of Singapore’s growing population, the government plans to increase infrastructure development in the country over the next decade. A report released by the National Population and Talent Division (NPTD) indicated that the government needs...
Continue Reading • 30 Jul 2012
UK lenders market share dips
By Romesh Navaratnarajah: Some of the biggest lenders in the UK are experiencing a decline in mortgage market share, which has increased for several building societies, according to new figures. However, a report from the Council of Mortgage Lenders (CML) revealed that lending is still...
Continue Reading • 30 Jul 2012
Developers launching projects at lower prices: data
By Romesh Navaratnarajah: Prices of uncompleted homes declined sharply in Q2, which could indicate that developers are lowering prices for new launches. Recent data from the Urban Redevelopment Authority (URA) showed a 0.9 percent dip in prices of uncompleted non-landed homes, a first since...
Continue Reading • 30 Jul 2012
Agent's dishonesty costs him S$15,000
By Romesh Navaratnarajah: The Council for Estate Agencies (CEA) has punished another property agent for acting against the interests of his clients with a seven-month suspension and a fine of S$15,000, the highest penalty so far. 34-year old Anthony Su was penalised for a transaction that took...
Continue Reading • 30 Jul 2012