DTZ auction a lacklustre show
By Tejaswi Chunduri: DTZ’s monthly property auctions for May proved quiet, with nine properties on offer but just one unit sold – a 1,410 sq ft apartment at Botanic Gardens View (pictured). In total, one landed, four non-landed and four commercial (comprising a shop space and...
Continue Reading • 6 Jun 2012
US fixed rate mortgages at new lows
By Romesh Navaratnarajah: Average 30-year fixed rate mortgages in the US dropped one basis point to 3.59 percent from 3.6 percent in the previous week, according to Zillow(R) Mortgage Marketplace. This is the lowest level since the mortgage comparison website was launched in 2008. After earlier...
Continue Reading • 6 Jun 2012
Far East hits sales record of 2200 homes in first 5 months
By Romesh Navaratnarajah: Property developer Far East Organization sold 2,200 new homes in Singapore during the first five months of the year.This includes suburban projects such as The Hillier in the northwest and Watertown in the northeast.According to a media report, projects by Far East...
Continue Reading • 6 Jun 2012
Pasir Ris site tender attracts 5 bids
By Romesh Navaratnarajah: The tender for a 99-year leasehold residential site (pictured) at Pasir Ris Drive 3 has attracted five bids, with Capital Development Ltd offering the top bid of S$211.0 million.This works out to around S$418 psf and reflects a breakeven cost of approximately S$800...
Continue Reading • 6 Jun 2012
Flat buyers now have better chance, says Khaw
By Romesh Navaratnarajah: The bumper supply of public housing this year has given more chances for both first-timers and second-timers to own their own homes, according to National Development Minister Khaw Boon Wan in his latest blog post.“The mega launch in March of a combined BTO...
Continue Reading • 6 Jun 2012
Aussie mortgage broker expects no rate change
By Romesh Navaratnarajah: Mortgage provider Loan Market does not expect the Reserve Bank of Australia to make any changes to its cash rate for now. This is amid sharp movements in the market on Monday to price in a near 75 percent chance of a 50 basis point cut when the central bank holds its...
Continue Reading • 5 Jun 2012
Foreign buying in Vietnam set to rise
By Andrew Batt: Vietnam has always been an attractive destination for many property buyers and investors from around the world, especially from Japan, India and Thailand. In recent years, an increasing number of foreigners have also been looking to settle in the country.According to data from the...
Continue Reading • 5 Jun 2012
China may likely loosen grip on property measures
By Romesh Navaratnarajah: China could loosen its grip on property tightening measures to encourage more home buying activity as the central government looks to support economic growth, according to Deutsche Bank AG.Jason Ching and Tony Tsang, Hong Kong-based analysts at Deutsche Bank, said more...
Continue Reading • 5 Jun 2012
Housing supply to hold firm in second half of 2012
By Romesh Navaratnarajah: Residential supply will likely hold firm in the second half of this year as developers continue to be active in the Government Land Sales (GLS) Programme. According to Chia Siew Chuin, Director of Research & Advisory at Colliers International, an additional 28 to 30...
Continue Reading • 5 Jun 2012
Frasers Hospitality strengthens presence in Middle East
By Romesh Navaratnarajah: Serviced residences operator Frasers Hospitality will embark on an ambitious expansion into the Middle East with plans to manage 10 properties in the region over the coming years. It will open three developments by the end of next year, according to Choe Peng Sum,...
Continue Reading • 5 Jun 2012
UK developer to open Singapore office
By Andrew Batt: U.K. developer Berkeley Group is planning to open an office in Singapore to cater to the increasing number of local buyers of its London properties.The company, which sells properties under the St George, St James, St Edward and Berkeley Homes brands, has been selling properties...
Continue Reading • 5 Jun 2012
Sophia Mansions launched for collective sale
By Romesh Navaratnarajah: Sophia Mansions (pictured), a 19-unit freehold residential development in the Mount Sophia enclave has been launched for en bloc sale with a guide price of between S$42.5 million and S$45 million. This works out to a land rate of between S$1,160 psf ppr and S$1,228...
Continue Reading • 5 Jun 2012
BCA bags UN Public Service Award 2012
By Cheryl Tay: The Building and Construction Authority (BCA) has been presented the United Nations Public Service Award (UNPSA) 2012 for establishing a centralised one-stop registration system for contractors who want to tender for public sector construction projects in Singapore.The BCA is the...
Continue Reading • 4 Jun 2012
Station removal to impact property buyers
By Andrew Batt: EXCLUSIVE: Bangkok property buyers and developers are likely to feel the impact from last week’s confirmation from the Bangkok Metropolitan Authority (BMA) that the Saphan Taksin skytrain station is set to close.One recent buyer of a riverside unit in the Thai capital told...
Continue Reading • 4 Jun 2012
More first-loan cases in Singapore
By Romesh Navaratnarajah: If latest figures from Credit Bureau Singapore (CBS) are anything to go by, the property cooling measures may indeed be taking effect. According to data, 58.3 percent of the 15,410 Singaporeans / permanent residents (PRs) who were granted mortgages (including...
Continue Reading • 4 Jun 2012
Smaller firms pool resources to develop prime sites
By Romesh Navaratnarajah: Amid tough competition in the buoyant property market, smaller firms are combining forces and funds to secure a number of prime development sites in the country. Out of the 11 residential sites sold under the Government Land Sales (GLS) Programme this year, three were...
Continue Reading • 4 Jun 2012
Colliers hires Harvey Coe to expand Asia investment services
By Romesh Navaratnarajah: Global property consultancy Colliers International has appointed Harvey Coe (pictured) as Senior Director of Asia Investment Services. A veteran in the property investment field, he will be responsible for growing and promoting the company’s real estate investment...
Continue Reading • 4 Jun 2012
Singapore millionaires on the rise
By Romesh Navaratnarajah: Singapore has retained top spot for having the highest percentage of millionaires in the world, according to a study published by Boston Consulting Group (BCG).It showed that the number of households with investable assets of more than S$1.26 million rose 14 percent to...
Continue Reading • 4 Jun 2012
91 units at Watercolours EC sold on 1st day of booking
By Romesh Navaratnarajah: Watercolours (pictured), an executive condominium (EC) in Pasir Ris sold over 90 units during its first day of booking last Friday. The 99-year leasehold 416-unit project is the latest in a slew of new launches in Pasir Ris. Located at the junction of Pasir Ris Drive 3...
Continue Reading • 4 Jun 2012
Few bright spots in housing market
By Romesh Navaratnarajah: While recent property measures implemented by the government to cool the market are working, Minister for National Development Khaw Boon Wan said that much more can be done. He noted that the government will ease the public housing crunch gradually, adding that queues...
Continue Reading • 4 Jun 2012