Over 600 applications for 1 Canberra
By Romesh Navaratnarajah:Over 600 e-applications for the 665-unit 1 Canberra executive condo development (pictured) were recorded as balloting closed on Wednesday. The developer MCC Land expects the project to be oversubscribed “once the last person leaves the showroom,” said a...
Continue Reading • 11 May 2012
CDL posts 44.5% profit drop
By Romesh Navaratnarajah:Lack of one-off gains from the divestment of The Corporate Office along Robinson Road has led City Developments Ltd’s (CDL) first quarter net profit to drop 44.5 percent to S$156.75 million. However, revenue for the quarter rose 9.4 percent year-on-year to S$846.7...
Continue Reading • 11 May 2012
Tampines EC site draws S$233.5m top bid
By Romesh Navaratnarajah: An executive condominium (EC) site (pictured) near The Tampines Trilliant has received a top bid of S$233.5 million, which works out to around S$373.40 psf ppr. The joint bid was put up by Singxpress Property Development, Amara Holdings' Creative Investments and Kay Lim...
Continue Reading • 11 May 2012
West beckons affluent Asian buyers
By Romesh Navaratnarajah:Prime property prices in the West are rising as more buyers from emerging countries shift their attention to more attractive destinations. In London, real estate values now stand at around £3,000 psf (S$6,058 psf), which is similar to what was seen before the...
Continue Reading • 11 May 2012
An eye on Malaysia
By Romesh Navaratnarajah: Singapore, which has been focusing on investments in Malaysia’s southern state of Johor, is also eyeing opportunities in other parts of the country, according to a report by Bernama. Mr Masagos Zulkifli Masagos Mohamad, Minister of State for Malaysia’s...
Continue Reading • 11 May 2012
Overseas property buyers are spoilt for choice
By Andrew Batt:There’s absolutely no doubt that Singaporeans’ love affair with overseas property is continuing unabated.This weekend alone there are 10 property exhibitions in the city, tempting buyers and investors to part with their money for a diverse range of property investment...
Continue Reading • 11 May 2012
Issue 11 of The PropertyGuru newspaper out tomorrow
By Romesh Navaratnarajah:The 11th issue of The PropertyGuru, Singapore’s only dedicated property newspaper hits the streets tomorrow.The latest edition, which is distributed across 513 key locations island-wide, features an extensive report on why so many Singaporeans are asset-rich but...
Continue Reading • 10 May 2012
New bright spot for Singapore - China relations
By Romesh Navaratnarajah:Singapore’s Emeritus Senior Minister (ESM) Goh Chok Tong (pictured) and Chinese Premier Wen Jiabao have announced that the bilateral financial cooperation between the two countries for Tianjin Eco-City, Suzhou Industrial Park is progressing well.The two countries...
Continue Reading • 10 May 2012
US mortgage applications up 1.7%
By Romesh Navaratnarajah:The volume of mortgage applications in the US climbed 1.7 percent last week, according to the Mortgage Bankers Association (MBA).Latest figures indicate that the four-week moving average for home loan applications rose 1.1 percent, while refinancing edged up 1.8...
Continue Reading • 10 May 2012
Shoebox homes get space-saving features
By Romesh Navaratnarajah:Shoebox units, which are no more than 500 sq ft in size, are gaining in popularity with home buyers, given their lower prices. In fact the URA (Urban Redevelopment Authority) has forecast supply of small units to grow to 8,200 by end-2015 from just 2,400 presently. ...
Continue Reading • 10 May 2012
One third of Aussie homeowners look to rent
By Andrew Batt: Almost one in three Australian homeowners would consider renting their spare room to help pay the mortgage.A PRDnationwide poll, released yesterday, revealed 14 percent of respondents already had someone renting a room. A further 11 percent said they would if they had...
Continue Reading • 10 May 2012
Fancy a free condo stay in Kovan?
By Romesh Navaratnarajah:Koh Brothers Development, a wholly-owned subsidiary of Koh Brothers Group Limited, is the first developer to launch a brand new lifestyle idea called ‘Concept Home’ at its Fiorenza project (pictured) in Kovan, which will be enjoyed by one lucky family for six...
Continue Reading • 9 May 2012
Australia's budget a ‘missed opportunity'
by Andrew BattThe Housing Industry Association, the voice of Australia’s residential building industry, has expressed its disappointment that yesterday’s Federal Budget represents a missed opportunity to reinvigorate new home building activity and alleviate the nation's housing...
Continue Reading • 9 May 2012
Indonesia property gains in popularity
by Andrew BattIndonesian property is gaining in popularity with overseas buyers, according to data from one of the U.K.’s leading property portals.The April ‘Top of the Props’ report released by The Move Channel revealed the country is ranked as the 22nd most popular based on...
Continue Reading • 9 May 2012
From a garage to a French chateau
by Andrew BattOur story last week about a London garage which is being sold for a whopping £525,000 (S$1.05 million) made front page news around the world.But at the other end of the scale, what kind of properties can you get for the same amount of money?Trevor Leggett, Managing Director of...
Continue Reading • 9 May 2012
Bofa alerts customers to new mortgage settlement programme
by Cheryl TayBank of America Corp (BofA) has started contacting over 200,000 mortgage customers who may qualify for a mortgage reduction, as part of the settlement programme involving alleged foreclosure abuses.BofA said potential candidates will start receiving letters this week, asking them to...
Continue Reading • 9 May 2012
Wing Tai's Q3 profit down 74%
by Cheryl TaySingapore property and lifestyle company Wing Tai Holdings has announced that its net profit for the third quarter ended 31 March 2012 slipped 74 percent to S$42.35 million, while revenue dropped 69 percent to S$128 million.Gross revenue for the quarter also declined 73 percent to...
Continue Reading • 9 May 2012
CapitaLand announces increase in deemed interest in Ascott Trust
by Cheryl TayCapitaLand Limited announced a more than one percent increase in its deemed interest in the Ascott Residence Trust (Ascott Trust).From 48.49 percent, which comprised 544,639,785 units as reported on 31 March last year, the deemed interest grew on 4 May to 49.02 percent, which...
Continue Reading • 9 May 2012
CEA reminds agents of proper conduct
by Cheryl TayFollowing a series of complaints regarding unprofessional conduct, the Council for Estate Agencies is clamping down on aggressive and questionable marketing strategies used by some property agencies.According to the Straits Times, the CEA recently called on agency bosses to remind...
Continue Reading • 9 May 2012
S'pore's inflation rate worrying, says ING economist
by Cheryl TayEconomic growth in Asia will likely pick up in the second quarter, as Europe recovers from its worst debt crisis, according to a senior economist at Dutch ING Bank.In Singapore, economic growth will pick up at the end of the year, expanding 2.7 percent, at the higher end of the one...
Continue Reading • 9 May 2012