Bidadari: One of many prime housing sites in the pipeline
By Romesh Navaratnarajah: Following the announcement that construction works on Bidadari new town will begin by year-end, developers are eyeing new opportunities at other prime residential sites in strategic locations. According to analysts, thousands of homes are in the pipeline over the next...
Continue Reading • 30 May 2012
Boon Lay Way site hotly contested, draws 12 bids
By Romesh Navaratnarajah: The tender for a residential site (pictured) at Boon Lay Way (Jurong Gateway) received a total of 12 bids, an indication that land sites in strategic locations can still yield record high offers. “The response by developers shows emphatically that a...
Continue Reading • 30 May 2012
Hongkong Land issues US$500m 10-Year Notes
By Romesh Navaratnarajah: Hongkong Land Holdings Limited announced that its wholly-owned subsidiary, Hongkong Land Company Limited issued 10-year Notes worth US$500 million through its wholly-owned subsidiary, Hongkong Land Finance (Cayman Islands) Company Limited.The Joint Lead Managers and...
Continue Reading • 29 May 2012
Aussie borrowers seek safety in fixed rate loans
By Romesh Navaratnarajah: Australian borrowers are rushing to lock in their mortgages, with the number of fixed-rate loans doubling in the past year. According to a media report, fixed-rate loans now account for 14.5 percent of all new mortgages, the highest level since 2008. The rise in fixed...
Continue Reading • 29 May 2012
CEA coming down hard on rogue agents
By Romesh Navaratnarajah: More rogue agents are expected to surface as public awareness of unregistered property sales people in the market grows.The Council for Estate Agencies (CEA), which regulates the country’s real estate agency industry, is expected to be busy in the coming...
Continue Reading • 29 May 2012
Prices of private resale homes edge up
By Romesh Navaratnarajah: Private resale home prices in Singapore edged up last month, an indication that home buyers’ interest in the resale market remains healthy. According to the NUS Singapore Residential Price Index (SRPI), prices of resale homes climbed 0.8 percent in April after...
Continue Reading • 29 May 2012
NUS small apartment sub-index slips 1.2% in April
By Romesh Navaratnarajah: Prices of small apartments measuring up to 506 sq ft dipped slightly by 1.2 percent in April, according to the NUS Singapore Residential Price Index (SRPI). This is in sharp contrast to March, when the SRPI sub-index for small apartments saw a notable 2.7 percent rise...
Continue Reading • 29 May 2012
Bishan residents say no to nursing home
By Romesh Navaratnarajah: A group of residents in Bishan are standing up against plans to build a nursing home in the neighbourhood. The 260-bed nursing home will stand six to eight-storeys high on an empty field opposite three blocks of flats in Bishan Street 13.A signed petition by 40 residents...
Continue Reading • 29 May 2012
E&O profits up 260%
By Romesh Navaratnarajah: Eastern & Oriental Berhad (E&O) has reported a strong after-tax profit of RM127.89 million (S$51.79 million) for the financial year ended 31 March 2012, buoyed by strong sales and higher revenue. The Malaysia-listed property developer said that profit for the...
Continue Reading • 29 May 2012
UK tax changes to hit Singaporean buyers
By Romesh Navaratnarajah: Recent changes in the UK tax scheme will see Singaporean investors in the UK paying higher stamp duties and other new taxes, according to a media report. While Singaporean investors are not worried, many experts noted that they have been seeing a significant increase in...
Continue Reading • 28 May 2012
Singapore mortgage data shows cooling measures work
By Romesh Navaratnarajah: Latest figures from Credit Bureau Singapore (CBS) indicate that the government’s cooling measures have been positive. It suggests that consumers with existing home loans are unlikely to apply for more, while those without current mortgages account for a...
Continue Reading • 28 May 2012
Several pricey pads sold
By Romesh Navaratnarajah: Several high-value properties have been sold recently, including a few Good Class Bungalows (GCBs) in the Chatsworth, Binjai Park and Third Avenue areas, as well as apartments at Paterson Suites (pictured) and TwentyOne Angullia Park.In the GCB segment, a freehold...
Continue Reading • 28 May 2012
Chinese no longer the top foreign property buyers in Singapore
By Romesh Navaratnarajah: Chinese buyers have lost out to Malaysians, who reclaimed top spot among foreigners buying Singapore properties despite the tough cooling measures introduced in December last year. A report by DTZ Research revealed that the Chinese, including permanent residents (PRs),...
Continue Reading • 28 May 2012
Iskandar rising, say experts
By Romesh Navaratnarajah: The second phase of development in Iskandar Malaysia (2011 - 2015) is expected to draw strong interest from Singaporean investors. While interest in the region has been low in the past, there’s been a dramatic reversal in this trend over the last few years,...
Continue Reading • 28 May 2012
Bangkok land plot to go under the hammer
By Andrew Batt: A significant plot of land in the heart of the commercial district of central Bangkok will be sold by auction in August.CBRE Thailand has been appointed to sell the rare prime freehold site which is located on Silom Road close to its junction with Narathiwas Ratchanakarin Road. It...
Continue Reading • 28 May 2012
Illegal workers nabbed in Thai condo raid
By Andrew Batt: Thai authorities rounded up 110 illegal workers during a raid on a Bangkok condominium construction site late last week.Immigration and special branch police officers joined officials from the Department of Labour during the crackdown at the site of the TC Green Condominium...
Continue Reading • 28 May 2012
Ronaldo's former home for sale
By Andrew Batt: The former home of football star Cristiano Ronaldo is for sale. The house (pictured), in the county of Cheshire in the UK, has been put up for sale by the Snapes real estate agency on the Rightmove website. The media reported that both Japp Stam and midfielder Jose Kleberson owned...
Continue Reading • 28 May 2012
KSH Holdings reports full-year profit of S$20.4m
By Romesh Navaratnarajah: Property firm KSH Holdings Limited has posted a full-year net profit of S$20.4 million on the back of S$170.6 million in revenue due to a strong order book of approximately S$467.0 million. “The group remained profitable in FY2012 notwithstanding a challenging...
Continue Reading • 28 May 2012
Bangkok developers target Phuket
By Andrew Batt: The rise of low-end condos built in Phuket by major Bangkok developers has continued with the recent launch of Supalai Park (pictured) in Phuket Town.The 15-floor complex on just over six rai (9,600 sqm) on Nakorn Road will have 504 starter-size condos ranging in size from...
Continue Reading • 28 May 2012
United Engineers launches 8 Riversuites condo
By Romesh Navaratnarajah: 8 Riversuites (pictured), a new condo development in Whampoa East was officially launched last Saturday by its developer United Engineers Limited. More than 200 units had already been sold during a private preview held earlier this month. Designed by Japanese architect...
Continue Reading • 28 May 2012