Chao Tian Men project progressing as planned: CapitaLand
By Romesh Navaratnarajah: CapitaLand, Southeast Asia’s largest developer, has announced that its S$4.3 billion Chao Tian Men mixed-use development (pictured) in China is “progressing as planned”. Developed by a CapitaLand-led consortium, the mega project is located on a prime...
Continue Reading • 18 May 2012
Tampines EC site attracts muted interest
By Romesh Navaratnarajah: An executive condominium (EC) site (pictured) at Tampines Avenue 10 (Parcel A) has seen just three bids, with a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Ltd offering the highest bid of S$252.78 million. “As the site’s...
Continue Reading • 18 May 2012
ABSD dented property demand, not prices
By Romesh Navaratnarajah: The 10 percent additional buyer’s stamp duty (ABSD) imposed in December 2011 has affected the demand for Singapore property, but not prices, according to Nicholas Holt, Asia-Pacific Research Director at Knight Frank.“Prices not only held up but actually...
Continue Reading • 18 May 2012
Fancy a resort home in the Bahamas?
By Romesh Navaratnarajah: Many investors in Singapore are looking at overseas properties as far away as Australia and the UK for their second home, but what about the Caribbean? Baha Mar (pictured), the largest single-phase resort development in the Caribbean is planning to launch its luxury...
Continue Reading • 17 May 2012
China's big four see new home loans stall
By Romesh Navaratnarajah: China’s big four state-owned banks have recorded little to no new home loan growth in the first half of May from the same period in April, indicating a slowdown in the world’s second largest economy. According to a media report, new loans at two of the banks...
Continue Reading • 17 May 2012
SC Global unveils Hermès apartment amid market slump
By Romesh Navaratnarajah: Luxury property developer SC Global Developments has unveiled a private apartment at The Marq on Paterson Hill that’s been decked out by French brand Hermès - a world’s first. “We are extremely pleased this project with Hermès has...
Continue Reading • 17 May 2012
S'pore property market slowing down?
By Romesh Navaratnarajah: A report released by property consultancy Jones Lang LaSalle (JLL) has highlighted a notable decline in Singapore’s residential property market. Only 300 housing units were completed in Q1 2012, down 36.2 percent from last quarter. According to JLL, “Sales...
Continue Reading • 17 May 2012
Golf tourism to boost home sales
By Andrew Batt:According to the latest Golf Travel Insights report from KPMG, more than 60 percent of golf tour operators experienced an increase in the number of golf holidays booked in 2011, compared to just 38 percent in the previous year, highlighting a welcomed boost to the golf tourism...
Continue Reading • 17 May 2012
Real estate sentiment improves in Q1
By Romesh Navaratnarajah: After dropping for four straight quarters, the REDAS-NUS Real Estate Sentiment Index (composite) for Singapore’s real estate market climbed in the first quarter of 2012 to reach 4.6, driven by strong demand of several mass market private condo launches. The scale...
Continue Reading • 16 May 2012
Sydney's The Mark set to launch this week
By Romesh Navaratnarajah:The Australian arm of Frasers Centrepoint will be launching The Mark (pictured), a 412-unit residential development in Sydney this week. The project offers a range of units comprising of one-bedroom (43-54 sq m); two-bedroom with two baths and a single car space (89 sq m)...
Continue Reading • 16 May 2012
ResCap to quit financing US$1.7b in mortgages
By Romesh Navaratnarajah:Residential Capital LLC (ResCap), the bankrupt mortgage firm indirectly owned by the US government, has won court approval to stop financing US$1.7 billion (S$2.15 billion) in loans to conserve cash.“I consider this to be a fairly important matter,” said US...
Continue Reading • 16 May 2012
What triggered the record high home sales in April?
By Romesh Navaratnarajah:Various factors caused April’s private home sales, excluding executive condos (ECs), to hit 2,487 units. This is the highest figure since the sales volume peaked at 2,772 units in July 2009. “Not only did demand chase supply, it in fact exceeded it because new...
Continue Reading • 16 May 2012
Far East nabs award for Hillvista project
By Romesh Navaratnarajah:Property developer Far East Organization has clinched the prestigious FIABCI (International Real Estate Federation) Prix D'Excellence award in the residential category for its Hillvista development (pictured).This is the seventh time that it has won the award which...
Continue Reading • 16 May 2012
Govt releasing 5 residential sites this month
By Romesh Navaratnarajah: The Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) will launch the tender for five residential sites this month, offering developers and home buyers more options for private housing. Released under the Government Land Sales (GLS) programme...
Continue Reading • 16 May 2012
Keppel-GK Eco Village houses 60 poor families
By Romesh Navaratnarajah: A third group of 20 families in the Philippines have received homes at the Keppel-GK Eco Village (pictured), a 60-unit housing development project jointly undertaken by Keppel Group, the charity organisation Gawad Kalinga (GK) and the local government of the Municipality...
Continue Reading • 15 May 2012
Singapore luxury home prices slip, Asia Pac edges up
By Romesh Navaratnarajah: While eight key markets in the Asia Pacific recorded a decent one percent increase in high-end residential prices during the first quarter, Singapore saw a quarter-on-quarter drop in luxury home prices after remaining stable for six consecutive quarters on the back of...
Continue Reading • 15 May 2012
Aussie mortgage approvals up in March
By Romesh Navaratnarajah:Home loan approvals in Australia rebounded unexpectedly in March, as more buyers took advantage of the central bank’s back-to-back reduction in mortgage rates late last year. According to data released yesterday by the statistics bureau, the number of loans approved...
Continue Reading • 15 May 2012
Malaysia: Property prices on the up
By Romesh Navaratnarajah: Rising costs of labour and building materials along with the scarcity of land are expected to push Malaysian property prices up despite the softening in demand. Taking into consideration the all-house price index, prospective home buyers will likely spend more for their...
Continue Reading • 15 May 2012
Phuket lures Singaporean buyers
By Andrew Batt: Singaporean property buyers were snapping up holiday homes in Phuket, Thailand, during the first quarter of the year according to newly released research from Knight Frank Thailand.Singaporeans, alongside Russians, were noted to be increasing their property buying activities on...
Continue Reading • 15 May 2012
Private home sales highest since 2009
By Romesh Navaratnarajah: TOP NEWS: Excluding executive condos (ECs), private home sales in Singapore for the month of April 2012 reached 2,487 units, its highest level since July 2009 when 2,772 new homes were snapped up. But month-on-month, overall private home sales saw a notable decline,...
Continue Reading • 15 May 2012