Condo rentals up due to expats relocating
By Romesh Navaratnarajah: Rentals for non-landed homes across all segments grew in Q2 2012, buoyed by the seasonal increase in leasing activity during April and May, noted DTZ Research.The trend is due to expatriates moving to Singapore after the summer holidays and the fact that they tend to...
Continue Reading • 6 Jul 2012
Property expo picks Phuket
By Andrew Batt: One of Asia’s leading and most successful property exhibition brands will be holding its first event in Thailand later this year.Since 2004, more than 20 SMART International Property and Investment exhibitions (pictured) have been held in Singapore, Hong Kong and Kuala...
Continue Reading • 6 Jul 2012
Slew of new projects launching in coming weeks
By Romesh Navaratnarajah: A string of new projects will be coming onto the market in the next few weeks, offering buyers more housing options. City Developments Limited (CDL) and Hong Realty are expected to launch their 99-year leasehold Haus@Serangoon Garden (pictured) next week. The landed...
Continue Reading • 6 Jul 2012
HK mortgage numbers shrinking
By Romesh Navaratnarajah: The number of new mortgages in Hong Kong has fallen, with the government yet to reveal its concrete policies on housing and more new properties yet to be launched, according to media reports. In H1 2012, new mortgages declined by 24.5 percent to 37,587 over...
Continue Reading • 5 Jul 2012
Two major shareholders cut stake in ARA Asset
By Romesh Navaratnarajah: ARA Asset Management has announced that its two biggest shareholders, CEO John Lim and Hong Kong billionaire Li Ka-shing’s Cheung Kong Holdings, have reduced their stakes in the Singapore-listed company. JL Investment Group, a company controlled by Lim,...
Continue Reading • 5 Jul 2012
High Court says investors must pay for condo units
By Romesh Navaratnarajah: The High Court rejected a request made by a group of ARA investors to suspend the payments for 10 apartments they purchased at the luxury Grange Infinite condominium (pictured). The case had been brought to court last year, with investors claiming the units they bought...
Continue Reading • 5 Jul 2012
More ABSD-exempt foreigners bought Singapore homes in H1
By Romesh Navaratnarajah:Residential property purchases made by foreigners from countries exempted from ABSD (additional buyer’s stamp duty) rose in 1H2012, according to data released by CBRE. These foreign buyers, including permanent residents (PRs), hail from the US, Iceland,...
Continue Reading • 5 Jul 2012
Private property owners making big gains
By Romesh Navaratnarajah: Since 2009, private homeowners in Singapore have greatly benefitted from the recovery in the property market. A report by Square Foot Research revealed that owners received at least S$20.3 billion in gross profit since late 2009 based on caveats data. This explains the...
Continue Reading • 5 Jul 2012
Malaysians now the top buyers of Singapore properties
By Romesh Navaratnarajah: Malaysians have outpaced the Chinese as the top overseas buyers of Singapore properties, according to data compiled by the Urban Redevelopment Authority (URA) and CBRE Research. In 1H2012, Malaysians accounted for 27.6 percent of all foreign purchases, while buyers from...
Continue Reading • 5 Jul 2012
Pheng Geck Ave site awarded to Santarli
By Romesh Navaratnarajah: A residential site (pictured) at Pheng Geck Avenue (Parcel B) has been awarded to Santarli Corporation after it submitted the highest bid of S$114.8 million in a public tender.The land parcel was launched by the URA (Urban Redevelopment Authority) under the confirmed...
Continue Reading • 5 Jul 2012
Singapore is third most innovative nation
By Cheryl Tay: Singapore is once again ranked third among 141 economies in the world for its innovation capabilities and results, according to the latest Global Innovation Index (GII). Jointly released by the United Nations’ World Intellectual Property Organisation (WIPO) and business...
Continue Reading • 4 Jul 2012
UK housing market sagging
By Romesh Navaratnarajah: UK mortgage approvals fell in May, while the construction sector declined at its fastest pace in two-and-a-half years during the month of June, signifying a slowdown in the housing sector. According to the Bank of England, lenders granted 51,098 mortgages in May from...
Continue Reading • 4 Jul 2012
Landmark Tower launched for public tender
By Romesh Navaratnarajah: Landmark Tower (pictured), a prime residential development located at Chin Swee Road on the fringe of the central business district (CBD) has been launched for public tender. Zoned for residential usage under the 2008 Master Plan, the site measures approximately 60,821...
Continue Reading • 4 Jul 2012
17 units at 8 Napier changing hands
By Romesh Navaratnarajah:17 apartments at 8 Napier (pictured) are said to be changing hands for between S$2,800 psf and S$3,000 psf to Alpha Investment Partners. The three-bedroom units, which measure 2,013 sq ft each, could be sold at a total price of around S$100 million. According to media...
Continue Reading • 3 Jul 2012
Australia's competitive mortgage market spurs refinancing
By Romesh Navaratnarajah: The number of Aussie borrowers refinancing their mortgages rose significantly in June, amid a decline in total loan volume and value, according to mortgage broker AFG.Loans arranged by AFG fell to 6,690 from 7,635 in May. With homeowners taking advantage of lower...
Continue Reading • 3 Jul 2012
Rich, famous living it up in Sentosa Cove
By Romesh Navaratnarajah: The appeal of a Sentosa Cove home (pictured) lies in its exclusivity and the lifestyle it offers, according to a report by AsiaOne. Among famous personalities drawn to its appeal is Addy Lee, celebrity hair stylist and CEO of Monsoon Hair Group, who owns a three-room...
Continue Reading • 3 Jul 2012
Landed homeowners sitting on a gold mine
By Romesh Navaratnarajah: It’s official! Landed homeowners in Singapore are sitting on a pot of gold. In fact, over the past 10 years, landed properties in Singapore have seen a 101 percent value appreciation, notably higher than the 72 percent recorded for non-landed homes. Back in Q1...
Continue Reading • 2 Jul 2012
Suburban condo prices resilient: NUS study
By Romesh Navaratnarajah: The latest Singapore Residential Price Index (SRPI) from the National University of Singapore (NUS) revealed that prices of completed apartments larger than 506 sq ft in the Non-Central Region (NCR) or suburban areas were the most resilient from the start of the year to...
Continue Reading • 2 Jul 2012
Modern living in a French cave
By Andrew Batt: For an alternative to modern living, this three-bedroom cave home (pictured) in France might be the answer, although don’t expect to have to skimp on the necessities of comfortable living.This well-designed troglodyte home offers stunning views over the Loire Valley that are...
Continue Reading • 2 Jul 2012
US investor groups oppose mortgage fixing
By Romesh Navaratnarajah: Several major mortgage investors in the US are opposing a plan by a few California local governments to forcibly buy distressed mortgages to keep struggling homeowners from being evicted. Eighteen investment trade groups, including the Association of Mortgage Investors,...
Continue Reading • 2 Jul 2012