Hong Kong to impose new rules on property agents
By Cheryl Tay:The Estate Agents Authority (EAA) of Hong Kong will start implementing a new policy that requires property agents to provide accurate measurements of the net saleable area as well as the gross floor area (GFA) of secondary homes, starting 1 January.Failure to comply could lead to...
Continue Reading • 23 May 2012
More Aussie borrowers switching lenders
By Romesh Navaratnarajah: Home buyers in Australia have been refinancing their loans at the fastest pace in four years, with many taking advantage of better deals, according to recent data. March saw the biggest number of home loan refinancing deals since 2008, with 17,756 renegotiated contracts....
Continue Reading • 22 May 2012
Ascott launches mobile sites for people on the go
By Romesh Navaratnarajah: In a bid to further enhance consumers’ search and reservation experience, Ascott Limited (Ascott) has launched three mobile versions of its three brand websites. CapitaLand’s wholly-owned serviced residence business unit unveiled www.the-ascott.com,...
Continue Reading • 22 May 2012
Tampines Ave 10 site awarded for S$252.78m
By Romesh Navaratnarajah: The tender for a residential site (pictured) at Tampines Avenue 10 (Parcel A) has been awarded to a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Ltd.It submitted the highest bid of S$252.78 million, which works out to around S$417.86 psf...
Continue Reading • 22 May 2012
Singapore a safe haven for investors
By Romesh Navaratnarajah: Singapore has been ranked as the third safest country in the Asia Pacific to invest, behind Australia and Hong Kong, according to Dun & Bradstreet's Global Risk Indicator (GRI).The report revealed that Singapore’s ranking was boosted by its stable risk profile...
Continue Reading • 22 May 2012
Hong Kong mulls new cooling measures
By Romesh Navaratnarajah: Should home prices in Hong Kong continue to surge after breaching the 1997 peak, the city’s de facto central bank may implement news measures to cool the property market. According to Norman Chan Tak-lam, Chief Executive of the Hong Kong Monetary Authority...
Continue Reading • 22 May 2012
UK mortgage holders feeling the squeeze
By Romesh Navaratnarajah: The slowing income growth and rising mortgage rates coupled with high inflation led to a sharp decline in UK consumer spending power last month. According to one report, consumers are more than £100 (S$201) worse off than during the same period in 2011, while a...
Continue Reading • 21 May 2012
Hot opportunities in an even hotter market
By Romesh Navaratnarajah: While many analysts see Singapore’s property market as being too hot to handle, some have highlighted its potential, especially for long-term equity investors. Over the last three years, the government has introduced measures to cool the market. The most recent of...
Continue Reading • 21 May 2012
What can you buy for less than S$1 million?
By Romesh Navaratnarajah: A number of private homes in Singapore are going for less than S$1 million, but their location and décor may not be on par with the pricier developments. However, these properties could end up being a good deal if they are located in an area that’s set to be...
Continue Reading • 21 May 2012
Asian buyers warned about UK properties
By Romesh Navaratnarajah: With many buyers in the UK struggling to get home loans, a growing number of developers are targeting the Far East, especially Singapore, Hong Kong and Shanghai. However, many of these overseas nationals are purchasing the properties without even viewing them, making the...
Continue Reading • 21 May 2012
Home prices drop in China
By Romesh Navaratnarajah: More than 60 percent of major cities in China saw new home prices drop last month from March, according to latest figures from the National Bureau of Statistics.Of the 70 cities monitored by the government, 43 reported a decline in home prices for April, lower than the...
Continue Reading • 21 May 2012
New homes on the rise in the CBD
By Romesh Navaratnarajah: Singapore’s central business district (CBD) is evolving from a traditionally corporate location, with more buyers looking for prime residential properties in the area. According to Savills Singapore, more than 4,600 new homes will likely be completed in the...
Continue Reading • 21 May 2012
IPC acquires another condo site in Japan
By Romesh Navaratnarajah: IPC Corporation is looking to develop its sixth condominium project in Japan with the acquisition of a land parcel in Oiso, Kanagawa prefecture.According to a media report, the Oiso project will comprise of 75 units housed in a three-storey tower. It is located...
Continue Reading • 18 May 2012
Property exhibitions galore in Singapore this weekend
By Romesh Navaratnarajah and Cheryl Tay: This weekend will see a hive of activity with regards to overseas and local property exhibitions taking place in Singapore. London, a perennial favourite among buyers and investors in the city state will be featured prominently. Streamlight Tower in...
Continue Reading • 18 May 2012
Asia Pac investment volumes slid 42%
By Romesh Navaratnarajah: With market sentiment dwindling down, investment volumes fell 42 percent quarter-on-quarter in Q1 2012, according to CBRE’s latest report. “Market sentiment remained subdued in Q1 2012 although concern over the impact of the Eurozone debt crisis on the global...
Continue Reading • 18 May 2012
UK mortgage lending tightens further
By Romesh Navaratnarajah: Millions of homeowners across the UK are facing more mortgage hikes as a direct result of the Eurozone debt crisis.Several lenders are also imposing ‘stealth’ changes to their mortgage range, making it harder for borrowers to qualify for loans. Since the...
Continue Reading • 18 May 2012
Significant rebound for Bangkok property
By Andrew Batt: Bangkok’s property market has rebounded significantly following last year’s floods according to a new report published by CBRE Thailand.Even the worst hit areas, such as low rise housing, retail and industrial areas that were inundated with water, have seen resumed...
Continue Reading • 18 May 2012
Residents protest over planned condo in Upper Bukit Timah
By Romesh Navaratnarajah: A group of residents in Upper Bukit Timah are protesting over a planned condo development in a secondary forest site at their neighbourhood. They are concerned that the buildings may be taller than their low-rise homes, thus blocking the scenic views. Construction could...
Continue Reading • 18 May 2012
New rules pose challenges for developers
By Romesh Navaratnarajah:The majority of developers are ready to comply with the new rules set to begin this Friday requiring them to be more transparent when marketing projects. However, some are finding it hard to prepare given the limited time after the change was announced a month ago. Media...
Continue Reading • 18 May 2012
Singapore economy at risk from Eurozone crisis
By Romesh Navaratnarajah:Increased risk is expected to pose new threats to Singapore’s economy should the Eurozone crisis get out of control, warned the government. As a result, the Ministry of Trade and Industry (MTI) has kept its growth forecast at one to three percent this year, while...
Continue Reading • 18 May 2012