Architecture award for Phuket's Bluepoint condo
By Andrew Batt: Thailand’s Bluepoint condo development on the island of Phuket, and already a winner at the Asia-Pacific Property Awards has revealed it has won another accolade - this time from Canada.Paul Raff Studio, the architects for Bluepoint, have won an Ontario Association of...
Continue Reading • 3 May 2012
JLL appointed sole agent for Prima Wongamat II
By Andrew Batt:Jones Lang LaSalle has been named the sole sales agent for Prima Wongamat Phase II, a prime resort condominium project in Pattaya by Petch Pattaya Development Co., Ltd. The development is claimed to offer the best value for money for buyers of beachfront condominiums in Pattaya -...
Continue Reading • 3 May 2012
URA announces Rail Corridor Partnership
By Romesh Navaratnarajah:In a bid to further explore and promote community activities within the Rail Corridor (pictured), the Urban Redevelopment Authority (URA) has established the Rail Corridor Partnership.It is an expansion of the Rail Corridor Consultation Group, which was formed to help the...
Continue Reading • 3 May 2012
Outlook for luxury market worsens on weakening sales
By Romesh Navaratnarajah:There is now sluggish demand for luxury homes, following recent announcements by two developers – SC Global and Ho Bee that sales figures have dwindled. With weak profits recorded for its ready for occupancy projects, SC Global has warned of a loss of S$10 million...
Continue Reading • 3 May 2012
Australia's CBA cuts interest rates
By Romesh Navaratnarajah:Commonwealth Bank of Australia (CBA) is slashing its standard variable rate (SVR) on mortgages by as much as 40 basis points to 7.01 percent per annum starting 11 May 2012. It is the second of four big lenders to follow the Reserve Bank's move to cut interest rates by 50...
Continue Reading • 3 May 2012
S'pore the world's 4th best place to live, work
By Romesh Navaratnarajah: Singapore has been named the world’s fourth most desirable place to live and work, according to the latest survey conducted by recruitment firm Hydrogen Group and business school ESCP Europe.The US remained the most popular destination, followed by Britain and...
Continue Reading • 3 May 2012
Sentosa Cove bungalow asks a whopping S$108m
By Romesh Navaratnarajah:A two-storey bungalow located at Ocean Drive in Sentosa Cove (pictured) has been put up for sale at a whopping price of S$108 million, which works out to around S$9,000 psf. Multiple listings of the 103-year leasehold property were listed on PropertyGuru in the past...
Continue Reading • 3 May 2012
3500 new homes coming into HK market
By Romesh Navaratnarajah: Four big projects will supply up to 3,500 new homes in the Hong Kong residential market this month. The launch of the new flats which range from 500 sq ft to 3,000 sq ft is more than last month’s 1,000 new homes. Cheung Kong Holdings will unveil the 850-unit...
Continue Reading • 2 May 2012
S'poreans spending habits don't change: MAS
By Romesh Navaratnarajah:Despite the fluctuation in property and stock prices, Singaporeans aren’t changing how they spend, according to a recent macroeconomic report by the Monetary Authority of Singapore (MAS).It noted that the ‘wealth effect’ is not seen in Singapore, as...
Continue Reading • 2 May 2012
UK households hit by mortgage rate hike
By Romesh Navaratnarajah:Millions of homeowners in the UK are facing higher mortgage repayments after several lenders, including Clydesdale, Yorkshire, Halifax and Co-operative raised their interest rates by as much as 0.5 percentage points for existing borrowers.More than 800,000 mortgage...
Continue Reading • 2 May 2012
More measures will harm property market: OrangeTee
By Romesh Navaratnarajah:Data for Q1 2012 released last week by the Urban Redevelopment Authority (URA) showed that residential property prices in Singapore dropped for the first time since Q2 2009, recording a 0.1 percent slip. This is in contrast to the 0.2 percent rise seen in the previous...
Continue Reading • 2 May 2012
CapitaLand's profit rises to S$133.2m in Q1
By Romesh Navaratnarajah:CapitaLand, Southeast Asia’s largest property developer, has announced its first quarter results ended 31 March 2012, with net profit increasing by 31.3 percent to S$133.2 million while revenue rose 4.8 percent to S$641.1 million from S$611.5 million over the same...
Continue Reading • 2 May 2012
URA launches tender for residential site at Boon Lay Way
By Romesh Navaratnarajah:A 1.2-ha residential site (pictured) at Boon Lay Way (Jurong Gateway) was launched for public tender on Monday by the Urban Redevelopment Authority (URA). The site, which can yield around 590 housing units, has a maximum permissible GFA (gross floor area) of 48,670 sq m....
Continue Reading • 2 May 2012
Tuan Sing Q1 profit grows 23%
By Romesh Navaratnarajah:Mainboard-listed property developer Tuan Sing Holdings has announced that net profit for the first quarter ended 31 March 2012 increased 23 percent to S$6.8 million while revenue during the period hit S$72 million.Revenue from its property business rose to S$27.8 million...
Continue Reading • 2 May 2012
Lofty price tag for London garage
By Andrew Batt: A garage in the heart of central London is on sale for a whopping £525,000 (S$1.05 million) - three times the national average house price in the United Kingdom.The freehold double garage, which is located close to Harrods on Rysbrack Street, measures 6.4 metres wide by 4.75...
Continue Reading • 2 May 2012
Possible shortage in private property market, say consultants
By Romesh Navaratnarajah:After the Urban Redevelopment Authority (URA) released data on supply and demand in the private property market, several consultants are now changing their views from an oversupply to a potential shortage, especially in the Outside Central Region (OCR). While official...
Continue Reading • 30 Apr 2012
Tiong Bahru residents upset over new F&B outlets
By Romesh Navaratnarajah: Some residents at Tiong Bahru are unhappy over the opening of new F&B establishments close to their homes, reported The Straits Times.Over the last two years, three new shops - 40 Hands, SocialHaus (pictured) and Open Door Policy - have opened on the ground floor of...
Continue Reading • 30 Apr 2012
Marina South mixed development nabs awards
By Romesh Navaratnarajah: The highly-anticipated Marina South development (pictured) by M+S Pte Ltd has clinched three awards at the prestigious Asia Pacific Property Awards 2012 for Best Mixed-use Development, Best Mixed-use Architecture and Best High Rise Architecture.The event is part of the...
Continue Reading • 30 Apr 2012
Time for Singapore investors to consider Vietnam
By Romesh Navaratnarajah: Vietnam’s low interest rates and falling inflation have led to renewed interest from many Singaporean investors, according to a report by Savills. Positive foreign direct investment and well-balanced trade have also helped to strengthen the Vietnamese dong against...
Continue Reading • 30 Apr 2012
New UK mortgage scheme to help first-time buyers
By Romesh Navaratnarajah:The UK has introduced a new mortgage scheme that aims to help home buyers who have only a five percent deposit to purchase a newly built property with a value of up to £500,000 (S$1 million). Called the ‘newbuy’ mortgage scheme, it is meant to encourage...
Continue Reading • 30 Apr 2012