PropertyGuru unveils new brand identity for Malaysia
By Romesh Navaratnarajah:PropertyGuru Group, the leading property portal in Asia, announced today that two of its existing property sites in Malaysia – HomeGuru.com.my and Fullhouse.com.my, will now be officially called PropertyGuru.com.my. The consolidation and rebranding will make it...
Continue Reading • 15 May 2012
Rising prices won't hit Singaporeans hard, minister says
By Romesh Navaratnarajah: Singapore’s inflation rate is tipped to stay at five percent over the next few months before slowing down in the second half of 2012 to reach between 3.5 and 4.5 percent this year, said Lim Hng Kiang, Minister for Trade and Industry. Speaking in Parliament...
Continue Reading • 15 May 2012
Dramatic rise in property exhibition attendees
By Andrew Batt:There has been a dramatic rise in the number of attendees at international property exhibitions this year as more buyers look beyond their own borders for property investment opportunities.The news comes from property investment firm Knight Knox International, a regular visitor to...
Continue Reading • 15 May 2012
Property market cools, but worries remain: Khaw
By Romesh Navaratnarajah: Despite the encouraging signs brought about by the government’s property cooling measures, concerns still remain with regards to soaring mass market home prices and shoebox units, said Khaw Boon Wan, Minister for National Development. As of Q1 2012, there are 2,500...
Continue Reading • 15 May 2012
EC site in Tampines awarded for S$233.5m
By Romesh Navaratnarajah: The Housing and Development Board (HDB) has awarded a residential site (pictured) slated for an executive condominium (EC) development located next to The Tampines Trilliant to a consortium comprising Singxpress Property Development Pte Ltd, Creative Investments Pte Ltd...
Continue Reading • 15 May 2012
Design Studio posts lower Q1 profit
By Romesh Navaratnarajah:Design Studio Furniture Manufacturer Ltd, one of the leading furniture companies, has recorded a decline in net profit to S$4 million in the first quarter of this year, underpinned by lower revenue which fell 16.2 percent to S$24.7 million during the period. The...
Continue Reading • 14 May 2012
Chelsea Creek sees large sales in Singapore
By Andrew Batt: EXCLUSIVE: London property remains a hit with Singaporean property buyers and investors, as evidenced by strong sales at exhibitions over the course of last weekend (May 11-12).St George, the developer of Chelsea Creek (model pictured), a luxury waterfront development in the heart...
Continue Reading • 14 May 2012
Foreign developers flock to Asia to boost sales
By Romesh Navaratnarajah:Overseas property developers are showing more interest in Asia, especially Singapore, in a move to boost their sales on the back of weak demand in their local markets. According to The Straits Times, foreign developers are looking to attract wealthy Asian investors who...
Continue Reading • 14 May 2012
Dorsett Place, exquisiteness in the heart of Subang Jaya
By Widya Sharkawi:Launched in February 2012, Dorsett Place Waterfront Serviced Suites (pictured) in Subang Jaya, Selangor, is a freehold development spanning 9.33 acres and caters to buyers looking for an urban contemporary style of living. Located in the same premises as the current Grand...
Continue Reading • 14 May 2012
Chinese property developers target Singapore buyers
By Andrew Batt: EXCLUSIVE: More Chinese property developers will be targeting Singaporean property buyers and investors in the coming months, heralding the start of a new wave of property investment opportunities within Asia for local buyers.The second property exhibition featuring commercial...
Continue Reading • 14 May 2012
Summer rental season hits Cannes
By Andrew Batt:The Cannes Film Festival marks the beginning of the summer property rental season in the South of France, with wealthy private individuals and corporate groups busy booking top class accommodation so they can enjoy all that this prestigious area has to offer.Jonathan Gray, Director...
Continue Reading • 14 May 2012
US mortgage rates fall to new lows
By Romesh Navaratnarajah:The average rate for both 30-year and 15-year fixed mortgages in the US dropped to new record lows, according to figures released by Freddie Mac.The mortgage buyer said last week that the average rate for 30-year fixed loans fell to 3.83 percent while 15-year mortgages, a...
Continue Reading • 14 May 2012
S'pore developers post weaker property development results
By Romesh Navaratnarajah: Property developer UOL Group has announced that revenue was 59 percent down at S$297.7 million in the first quarter ended 31 March 2012, attributed to a 75 percent revenue drop in its property development segment to S$153.2 million.Net attributable profit for the quarter...
Continue Reading • 14 May 2012
Singapore buyers 'invading' London
By Romesh Navaratnarajah:Local property hunters are showing more interest in buying properties in central London, with analysts pointing to rising rents and good capital values as contributing factors. A Straits Times report highlighted that Singaporeans accounted for over 3.5 percent of...
Continue Reading • 14 May 2012
SC Global acquires Bali resort site
By Romesh Navaratnarajah:Tanah Investments Pte Ltd (TIPL), a wholly-owned subsidiary of SC Global Developments, is acquiring a resort development site in Bali for US$32.5 million (S$40.69 million).TIPL will acquire shares in two companies, Lotusvale Ltd and Tannerson Ltd, to form an entity, PT...
Continue Reading • 14 May 2012
URA reserve list site at Farrer Drive to launch for tender
By Romesh Navaratnarajah:A residential site at Farrer Drive (pictured) will be put up for sale in about two weeks under the reserve list, following a developer’s request to bid a minimum of S$88.89 million for the plot, according to the Urban Redevelopment Authority (URA). With an area of...
Continue Reading • 14 May 2012
UK buy-to-let mortgages up
By Romesh Navaratnarajah:The value of home loans in the UK to fund buy-to-let purchases increased by a third in the first quarter, as the sector becomes attractive to investors due to falling home prices and rising rents. According to latest figures by the Council of Mortgage Lenders (CML), some...
Continue Reading • 11 May 2012
The Estates to launch in Bangkok
By Andrew Batt:Presales will begin next week (May 19-20) at The Estates @ Thapra (pictured), a new eight-storey low-rise condominium development in Bangkok.The 185-unit project is located on the Thonburi side of the city and is close to a planned MRT station on Charansanitwong Road. Prices, which...
Continue Reading • 11 May 2012
Sydney's rental hotspots revealed
By Andrew Batt:The property rental market in Sydney (pictured) is heating up, with prices of one- and two-bedroom rentals on the rise in many locations. New research from PRDnationwide research revealed rents for two-bedroom apartments in Campbelltown, Fairfield, Liverpool, Maitland and...
Continue Reading • 11 May 2012
Tiong Seng profit jumps 134% in Q1
By Romesh Navaratnarajah: Mainboard-listed construction and property firm Tiong Seng Holdings Ltd has announced that net profit attributable to equity holders jumped 134 percent to S$5 million in the first quarter, from S$2.139 million over the same period last year.It said the increase in net...
Continue Reading • 11 May 2012