Developers see healthy sales figures over the weekend
By Romesh NavaratnarajahUpscale and mass-market projects have recorded healthy take up rates over the weekend.After selling 68 of its 75 black-and-white apartments on offer, high-end 1919 development on Mount Sophia is now over 90 percent sold. The freehold development, which sees completion...
Continue Reading • 13 Jun 2012
Treasure Island up for grabs
By Andrew BattFor the price of a top end mass market condominium in Singapore you could be the new owner of Isla de Coco, a 24.8 acre private island in the Pacific Ocean.The storybook island, part of the country of Panama, is surrounded by tropical waters and boasts fine sandy beaches, dense...
Continue Reading • 13 Jun 2012
UK house sales fall almost 40% in five years
By Andrew BattHouse sales per surveyor across the United Kingdom are almost 40 percent lower than five years ago at the peak of the boom, according to the latest RICS UK Housing Market survey.During May, the average number of completed sales per surveyor was 15.6. This represents almost a 40...
Continue Reading • 13 Jun 2012
More overseas buyers look to the U.S.
By Andrew BattInternational buyers accounted for 8.9 percent of all property purchases in the United States of America during the 12 months ending March 2012, according to new data from the National Association of Realtors.Total residential international sales during the period equalled US$82.5...
Continue Reading • 13 Jun 2012
Over 10% of UK customers would review their mortgage
By Romesh NavaratnarajahMore than one of ten customers in the UK are planning to pay-off, remortgage or make over payments to their loans in the next 12 months, according to a new research by Clydesdale and Yorkshire Banks.Property owners in the Midlands will most likely to re-examine their...
Continue Reading • 13 Jun 2012
When to pay or not to pay the ABSD
By Romesh NavaratnarajahThe Inland Revenue Authority of Singapore (IRAS) has released further clarification on the properties affected by the additional buyer’s stamp duty (ABSD) in the Fourth Edition of the IRAS e-Tax Guide.With only residential properties and lands included, IRAS defined...
Continue Reading • 13 Jun 2012
Surbana to jointly develop Chengdu residential site with Mitsubishi Estate
By Romesh Navaratnarajah Surbana Corporation will embark on a joint venture (JV) residential development in Chengdu, China with its joint venture partner Mitsubishi Estate Co Ltd (MEC), which is Japan’s largest listed real estate company.The 7.5ha development site is expected to...
Continue Reading • 13 Jun 2012
MND unveils 2H2012 GLS Programme
By: Romesh Navaratnarajah The Ministry of National Development (MND) has unveiled the second half 2012 (2H2012) Government Land Sales (GLS) Programme, which will comprise 15 confirmed list sites and 24 reserve list sites.“These sites can yield about 14,200 private residential units,...
Continue Reading • 13 Jun 2012
Buangkok Drive site tender gets S$301m top bid
By Romesh NavaratnarajahA residential site at the junction of Buangkok Drive and Sengkang Central has attracted a highest bid of S$301 million from White Haven Properties, in a public tender that closed on 12 June 2012.This works out to around S$508 psf ppr and reflects a breakeven cost of...
Continue Reading • 13 Jun 2012
Strong demand from Singapore buyers for Nusajaya projects
By Romesh Navaratnarajah: Singaporean buyers have shown keen interest for Nusajaya projects in Iskandar Malaysia, which is good news especially for developer UEM Land Holdings Bhd.Datuk Wan Abdullah Wan Ibrahim (pictured), Managing Director and Chief Executive of UEM Land, said that the recent...
Continue Reading • 12 Jun 2012
China banks likely to cut mortgage rates
By Romesh Navaratnarajah: China’s Central Bank decided to slash its benchmark interest rates last week, with the Guangdong Huaxing Bank being the first bank to cut rates, saying it will offer a 30 percent discount to first-time home buyers.However, the state-owned bank stressed that it will...
Continue Reading • 12 Jun 2012
HK developer plans on selling more homes
By Romesh Navaratnarajah: Hong Kong’s fourth largest developer Henderson Land will increase its sale of residential units, as home prices in the city-state have fallen this year. “Every developer is rushing to sell homes right now,” said Lee Shau-kee, the billionaire Chairman of...
Continue Reading • 12 Jun 2012
Caution reigns for Bangkok buyers
By Andrew Batt: Global events have caused many potential buyers and investors of Bangkok property to adopt a cautious approach pending further stability.Ulf Schaefer, Director of Residential Department – Premier Home, Knight Frank Chartered (Thailand), noted a number of factors impacting...
Continue Reading • 12 Jun 2012
Tokyo top, Singapore sixth for expats
By Andrew Batt: Tokyo (pictured) has overtaken Luanda as the most expensive city for expatriates according to Mercer’s latest Cost of Living survey. Osaka is in third position, up three places from last year, whereas Moscow remains in fourth and Geneva in fifth positions. Singapore is...
Continue Reading • 12 Jun 2012
PropertyGuru reaches 10 millionth listing milestone
By Romesh Navaratnarajah: In what could be described as a special milestone, PropertyGuru, Asia’s leading property portal, recorded its 10 millionth property listing last week. The property, a bungalow nestled on a 5,226 sq ft freehold land site at Highland Road in the east was listed...
Continue Reading • 12 Jun 2012
No way HDB will shrink flat sizes: Khaw
By Romesh Navaratnarajah:The Housing and Development Board (HDB) will not shrink flat sizes, assured National Development Minister Khaw Boon Wan. In a bid to clarify the issue, Mr Khaw said that Singapore will not emulate other cities like Tokyo and Hong Kong which have reduced the sizes of their...
Continue Reading • 12 Jun 2012
Abramovich's mansion on the market
By Andrew Batt: Chelsea Football Club owner Roman Abramovich has put his Lowndes Square uber-project (pictured) up for sale for £70 million (S$140 million), despite it needing an estimated additional £15 million (S$30 million) to finish it off.He began the project in 1998 by buying...
Continue Reading • 12 Jun 2012
More UK properties for sale
By Andrew Batt: The number of new properties coming onto the U.K. market rose by more than 10 percent during May, according to data from the country’s largest independent estate agent haart. The data showed a 10.1 percent increase on April, and the volume of ‘for sale’...
Continue Reading • 12 Jun 2012
Tender for Pasir Ris site awarded to Capital Development
By Romesh Navaratnarajah: The tender for a residential site (pictured) at Pasir Ris Drive 3 has been awarded to Capital Development after it submitted the highest bid of S$211.0 million in a public tender that closed on 5 June 2012.Joseph Tan, Executive Director for Residential at CBRE, said the...
Continue Reading • 12 Jun 2012
UK borrowers face soaring rates, fees
By Romesh Navaratnarajah: Mortgage borrowers in the UK are dealing with rising mortgage rates and sky-high fees, which have risen by 70 percent in the last three years. Figures from Moneyfacts.co.uk show that the average cost of obtaining a home loan now stands at £1,511 (S$1,927),...
Continue Reading • 11 Jun 2012