CapitaLand projects have shoebox units too
By Romesh Navaratnarajah: Despite the fact that CapitaLand’s CEO Liew Mun Leong referred to shoebox units as ‘almost inhuman’, it turns out that some of the developer’s projects feature this housing type, noted a media report. 37 of the 583 units at Bedok Residences...
Continue Reading • 11 Jun 2012
Estates booming despite spooky past
By Romesh Navaratnarajah: While some property buyers might feel squeamish about living in a former cemetery, property experts noted that several popular estates used to be graveyard sites. For instance, some developments in the mid- to high-end districts of Bishan (pictured), Tiong Bahru and...
Continue Reading • 11 Jun 2012
Ang Wee Gee to become CEO of Keppel Land
By Romesh Navaratnarajah: Kevin Wong, the Chief Executive of Keppel Land, will be leaving his post on 31 December 2012 to pursue personal interests. He will be succeeded by Ang Wee Gee (pictured), the current Executive Vice Chairman of Keppel Land China Ltd. “On behalf of the Board of...
Continue Reading • 11 Jun 2012
2 condos launched amid a slow market
By Romesh Navaratnarajah: Despite a lull in the property market, two freehold condo developments were launched over the weekend, which are expected to gauge buying interest. Both projects are relatively small, with less than 200 units in total between them. The upscale 1919 in Mount Sophia...
Continue Reading • 11 Jun 2012
Real estate to play key role in ASEAN's development
By Romesh Navaratnarajah: Real estate will play a pivotal role in the on-going development of ASEAN (Association of Southeast Asian Nations), noted the heads of Jones Lang LaSalle (JLL) who attended the World Economic Forum on East Asia 2012 in Bangkok last week. According to Chris Fossick,...
Continue Reading • 11 Jun 2012
PropertyGuru inks S$60m online deal, largest in SEA
By Romesh Navaratnarajah: PropertyGuru, the leading property portal in Asia, has received a whopping S$60 million strategic investment from ImmobilienScout24, one of the top three property portals in the world and a subsidiary of Deutsche Telekom. Considered the largest online deal in...
Continue Reading • 11 Jun 2012
MAS warns of slowdown in global economy
By Romesh Navaratnarajah: Renewed uncertainty stemming from the Eurozone debt crisis, a slowdown in emerging economies and flagging recovery in the US pose major challenges to near-term global economic growth, according to the Monetary Authority of Singapore (MAS). “The trade-oriented Asian...
Continue Reading • 8 Jun 2012
1 in 5 UK mortgage applications are Buy to Let
By Romesh Navaratnarajah: Buy to let mortgage applications in the UK hit an 18-month high, according to Haart, the UK’s largest independent estate agent. Figures show that the percentage of buy to let mortgages in May hit 19.6 percent, or one in every five mortgage applications. The...
Continue Reading • 8 Jun 2012
ECs ‘a good buy': consultants
By Romesh Navaratnarajah: Executive condominiums (ECs) are definitely a good buying option as they offer the same exclusivity as private condos but are also eligible for government subsidies, according to property consultants.“ECs have most, if not all, of the facilities of private...
Continue Reading • 8 Jun 2012
Shoebox units add diversity, says analyst
By Romesh Navaratnarajah: The debate between industry veterans over the viability of shoebox units is growing, with Dr Chua Yang Liang, Head of Research at Jones Lang LaSalle (JLL) Southeast Asia, adding his support for the homes which are no larger than 500 sq ft in size. Speaking to...
Continue Reading • 8 Jun 2012
HK govt urged to restrict foreign buyers
By Romesh Navaratnarajah: The Hong Kong government should consider studying measures to restrict foreign home buyers, noted Anthony Cheung Bing-leung, Director of the Hong Kong Housing Authority. “According to the changing structure of the local property market, the government should...
Continue Reading • 8 Jun 2012
The world comes to Singapore
By Andrew Batt: Property investment opportunities from Malaysia, Thailand, the United Kingdom and the United States are being showcased in Singapore this weekend.PropertyGuru reported recently that Singaporeans’ love affair with overseas property shows no signs of slowing, with more than...
Continue Reading • 8 Jun 2012
Mixed-use en-bloc sales to increase: analysts
By Romesh Navaratnarajah: The nine en-bloc properties sold so far for this year pales in comparison with the 29 properties transacted over the same period last year.Developers have become noticeably cautious, following the recent cooling measures as well as the requirements to build and...
Continue Reading • 7 Jun 2012
MRT stations help narrow suburban-urban price gap
By Romesh Navaratnarajah: The MRT network, along with a sluggish high-end market, has resulted in a narrowing price gap between residential units in suburban areas near MRT stations and those in the prime districts / CBD area.“The MRT transport network is so good that what is important now...
Continue Reading • 7 Jun 2012
US mortgage applications up slightly
By Romesh Navaratnarajah: Mortgage applications in the US inched up 1.3 percent last week from a week ago, according to the Mortgage Bankers Association (MBA). At the same time, the refinancing index climbed two percent from the previous week, reaching its highest level since February 10. This is...
Continue Reading • 7 Jun 2012
Nothing ‘inhuman' about shoebox homes: Oxley boss
By Romesh Navaratnarajah: Oxley Holdings Chief Ching Chiat Kwong has defended shoebox apartments, following a comment by CapitaLand’s CEO Liew Mun Leong that such units are ‘almost inhuman’.“Tell me what is more inhuman? Giving a young person an opportunity to buy an...
Continue Reading • 7 Jun 2012
Wing Tai Chairman warns of housing oversupply
By Romesh Navaratnarajah: Many buyers are choosing to acquire properties now, fearing that prices may surge in the coming years. As a result, demand in future could drop even more than expected leading to an oversupply, said Wing Tai Chairman Cheng Wai Keung. “On top of that if the...
Continue Reading • 7 Jun 2012
Villa Des Flores goes en bloc
By Romesh Navaratnarajah: Villa Des Flores (pictured), a large redevelopment site at Whitley Road in District 11, has been put up for sale at an indicative price of between S$160 million and S$165 million.This works out to around S$1,533 psf to S$1,581 psf, with no development charge...
Continue Reading • 7 Jun 2012
HDB awards tender for Sengkang site
By Romesh Navaratnarajah: The Housing and Development Board (HDB) has awarded the tender for a land parcel (pictured) at Sengkang Square / Compassvale Drive to EL Development after it offered the top bid of S$383.3 million in a public tender that closed on 31 May 2012.Launched for sale on 16...
Continue Reading • 7 Jun 2012
London listing for Feng Shui firm
By Andrew Batt: Singapore-based Feng Shui consultancy firm New Trend Lifestyle Group has announced plans to list on London’s Alternative Investment Market (AIM). Media reported that the seven-year-old company, formerly known as Yuan Zhong Siu Services Pte Ltd, plans to raise £1.5...
Continue Reading • 7 Jun 2012