UOB unveils 50-year mortgage
By Romesh Navaratnarajah:With increased demand seen for longer loan packages in Singapore, United Overseas Bank (UOB) recently launched a 50-year mortgage that is applicable for HDB flats and private homes. However, the age ceiling for the loan has yet to be revealed. For leasehold property,...
Continue Reading • 24 Jul 2012
Singapore inflation ticks up in June
By Romesh Navaratnarajah: Singapore’s consumer price index (CPI) for June grew 5.3 percent from last year and was higher than May’s 5.0 percent. The inflation number was also slightly above the 5.2 percent median forecast of 13 economists polled by Reuters. Meanwhile, the Monetary...
Continue Reading • 24 Jul 2012
Dismiss the Nimby syndrome, urges Health Minister
By Romesh Navaratnarajah: Health Minister Gan Kim Yong (pictured) has urged the public to support the building of eldercare facilities in housing estates and do away with the “not in my backyard” (Nimby) syndrome, according to a Straits Times report. He emphasised that these...
Continue Reading • 24 Jul 2012
Europe's discounted properties a hit with Asian investors
By Romesh Navaratnarajah: More Asian investors are showing renewed interest in European properties as the financial crisis there has encouraged developers to offer discounted prices. Analysts reckon that Asian investors are now eyeing properties that they would have avoided before while investors...
Continue Reading • 24 Jul 2012
Worries over China property curbs hit stocks
By Romesh Navaratnarajah: The stocks and bonds rally for Chinese developers is expected to end lower as valuations become less attractive and hopes diminish for any loosening of property cooling measures, said analysts. “The best performance for the China property sector is behind us and...
Continue Reading • 23 Jul 2012
UK mortgage deal rewards loyalty
By Romesh Navaratnarajah: Santander UK plc, one of the largest mortgage providers in the UK, has introduced a five-year fixed rate mortgage of 2.99 percent exclusively for current account and loyal mover customers.The loan is offered with a £1,495 (S$2,944) fee and is for purchases and...
Continue Reading • 23 Jul 2012
Fish House, Sentosa's most ecofriendly property
By Romesh Navaratnarajah: Private homeowners in Singapore are now exercising greater effort to integrate the latest environmentally-friendly features into their homes, according to an article first published in The New Paper. For instance, a two-storey bungalow at Sentosa called The Fish House...
Continue Reading • 23 Jul 2012
Govt announces S$100m in funding for new elderly care centres
By Romesh Navaratnarajah: The Ministry of Community, Development, Youth and Sports (MCYS) will spend about S$100 million to build up to 40 Integrated Day Facilities (IDF) in Singapore by 2016. First on the list is a three-in-one day care centre for the elderly in Serangoon (pictured) that will be...
Continue Reading • 23 Jul 2012
London calling, no signs of cooling
By Andrew Batt: EXCLUSIVE: The number private properties being bought in Singapore may have declined in recent months but the same cannot be said for the number of Singaporeans buying London property.Last weekend saw more than 60 deals done for units at Lincoln Plaza, a Galliard Homes project...
Continue Reading • 23 Jul 2012
Parc Centros over 60% sold
By Romesh Navaratnarajah:More than 60 percent or 370 of the 618 units at the 99-year leasehold Parc Centros condo (pictured) were sold at an average price of S$950 psf last week. According to sources, three- and four-bedroom units saw brisk sales while one-bedders were sold at a slower pace....
Continue Reading • 23 Jul 2012
Strong interest expected for Westminster property
By Andrew Batt: Berkeley Homes is launching its latest London development (pictured) in Singapore this weekend at a time when Singaporean property buyers and investors are buying London property in ever increasing numbers.The first phase of the Abell & Cleland project, one of very few new...
Continue Reading • 20 Jul 2012
Aussies changing how they shop for mortgages
By Romesh Navaratnarajah: Australians are changing the way they shop for mortgages – instead of directly approaching major banks, nearly half the home loans in the country are now sourced through mortgage brokers. “The banks and lenders are moving to recognise mortgage brokers as a...
Continue Reading • 20 Jul 2012
V On Shenton units to launch by month end
By Romesh Navaratnarajah: United Industrial Corporation (UIC) is set to launch the residential component of its V On Shenton development (pictured) by the end of the month. Located along Shenton Way, the 99-year leasehold mixed development will offer 510 housing units catering to...
Continue Reading • 20 Jul 2012
Ascott clinches another China property deal
By Romesh Navaratnarajah: Ascott Limited (Ascott), the wholly-owned serviced residence unit of CapitaLand, has inked a deal to manage Ascott Raffles City Chengdu (pictured). Scheduled to open in 2013, Ascott Raffles City Chengdu comprises 296 luxury apartments ranging from one- to three-bedroom...
Continue Reading • 20 Jul 2012
Geylang homeowners unfazed by sleaze and noise
By Romesh Navaratnarajah: Property buyers who acquired homes close to the red-light district of Geylang (pictured) are generally aware of the trade-offs in the area, noted an article first published in The New Paper. Despite the presence of prostitutes and pimps plying their trade and kerb...
Continue Reading • 20 Jul 2012
Canary Wharf lures Singaporeans
By Andrew Batt:The Canary Wharf area of London (pictured) has been attracting Singaporean property buyers and investors in every increasing numbers.This weekend the latest development from the area – Lincoln Plaza – is being exhibited at the Conrad Centennial Hotel. Yet even before...
Continue Reading • 20 Jul 2012
More buyers opting for private resale homes
By Romesh Navaratnarajah: Private resale homes attract more buyers as they offer better value compared to new launches, according to analysis by Dennis Wee Group (DWG). The report noted that the gap in prices between new and resale homes has tightened. Caveats for secondary homes rose 33 percent...
Continue Reading • 19 Jul 2012
S'pore millionaires have no problems getting home loans
By Romesh Navaratnarajah: The Internet has been buzzing lately with news that Facebook founder Mark Zuckerberg acquired a loan to refinance his US home, with many wondering why a billionaire such as himself would take out a loan when he can buy the property outright. Interestingly, the practice...
Continue Reading • 19 Jul 2012
Lower mortgage rates spreading in Chinese cities
By Romesh Navaratnarajah: More banks in China are providing mortgage discounts. For instance Zijin Rural Commercial Bank in Nanjing is offering a 20 percent discount and preferential loan rate for clients who are not quality customers of the bank. Meanwhile, banks offering a 15 percent discount...
Continue Reading • 19 Jul 2012
Keppel Land enjoys huge profit surge
By Romesh Navaratnarajah: Keppel Land has boosted its net profit by 76.8 percent to S$236.6 million in 1H2012. In a statement, the developer attributed the strong growth to contributions from property trading, higher fund management earnings and improved performance from K-Reit Asia. Property...
Continue Reading • 19 Jul 2012