Govt keeps eye on ABSD reimbursements
By Romesh Navaratnarajah:Regulators are keeping a close eye on the market as many developers have been reimbursing the ABSD (additional buyer’s stamp duty) in a bid to boost sales. If the practice begins to affect property prices and loan values, the government will intervene. ...
Continue Reading • 30 Apr 2012
SeaHill preview garners strong interest
By Romesh Navaratnarajah:Over 80 of the 120 units released at Far East Organization’s SeaHill project (pictured) were snapped up during the first day of its preview last Friday, at an average price of S$1,300 psf. SeaHill is a multi-component luxury residential and hospitality development...
Continue Reading • 30 Apr 2012
Sneak preview of Studio Nine this weekend
By Romesh Navaratnarajah:Property investors looking at Australia, and in particular Melbourne, can attend a pre-launch viewing of the prestigious Studio Nine Richmond (site pictured), taking place this Saturday and Sunday at Jalin Realty International's office at International Plaza from 12pm to...
Continue Reading • 27 Apr 2012
Pasir Ris One DBSS launches today
By Romesh Navaratnarajah: Property developer SingXpress Land has unveiling its latest DBSS (Design, Build and Sell Scheme) project called Pasir Ris One (pictured), offering 447 units spread across four 13- and 14-storey blocks.“Pasir Ris One stands out for its emphasis on design which is...
Continue Reading • 27 Apr 2012
US mortgage rates still at record lows
By Romesh Navaratnarajah:The average rate for fixed mortgages in the US slipped over the past week, as the market waits for the Federal Reserve’s decision regarding its monetary policy. According to a survey by mortgage lender Freddie Mac, the average rate for 30-year fixed mortgages stands...
Continue Reading • 27 Apr 2012
New EC unveiled in Yishun
By Romesh Navaratnarajah:MCC Land is launching the 665-unit 1 Canberra executive condo (EC) located along Yishun Drive today. Units at the 99-year leasehold project (pictured) are likely to be priced between S$680 psf to S$720 psf, which experts feel is reasonable. 1 Canberra comprises...
Continue Reading • 27 Apr 2012
Private house prices fall a little: URA
By Romesh Navaratnarajah:Latest data from the Urban Redevelopment Authority (URA) shows that private home prices declined marginally by 0.1 percent in Q1 2012 compared to the 0.2 percent rise seen in the last three months of 2011. This marks the first quarterly decline since Q2 2009 when prices...
Continue Reading • 27 Apr 2012
Jade Towers sold en bloc for S$106.27m
By Romesh Navaratnarajah:Jade Towers (pictured), a residential development located along Lew Lian Vale in Upper Serangoon Road, has been sold to Roxy Residential Pte Ltd, a wholly-owned subsidiary of Roxy Pacific Limited for S$106.272 million or S$807 psf ppr.Marketing agent Savills Singapore...
Continue Reading • 27 Apr 2012
Half-price schooling for Phuket condo buyers
By Andrew Batt:Royal Phuket Marina has come up with a nifty marketing ploy to help sell its new family-style condominium development – a 50 percent subsidy on tuition fees for two consecutive years at the nearby British International School.The special offer halves the standard school fees,...
Continue Reading • 26 Apr 2012
Sales of private resale homes pick up
By Romesh Navaratnarajah:Sales of private resale homes rose in the month of March but were overshadowed by bleak figures in the first two months of the year and overall Q1 numbers. Analysis by property consultancy Savills revealed that resale volumes in March hit pre-ABSD levels. Although...
Continue Reading • 26 Apr 2012
Mortgage demand up in Western Australia
By Romesh Navaratnarajah:Mortgage demand in Western Australia climbed by almost eight percent in the first quarter, another sign that Australia’s home prices are rebounding. Latest data shows that mortgage inquiries edged up 1.5 percent last month, the first annual increase since the global...
Continue Reading • 26 Apr 2012
Ascott Reit continues to grow
By Romesh Navaratnarajah:Ascott Residence Trust (Ascott Reit) has recorded a six percent rise in revenue for the first quarter - from S$67.3 million to S$71.6 million, mainly attributed to the S$1.9 million in contribution from Citadines Shinjuku Tokyo as well as stronger performance from its...
Continue Reading • 26 Apr 2012
More residential projects receive construction awards
By Romesh Navaratnarajah:More residential projects will receive the Construction Excellence Award by the Building & Construction Authority (BCA) this year, which recognises developments with the highest standard of construction excellence in Singapore. A total of 10 awards and seven...
Continue Reading • 26 Apr 2012
Applications for Watercolours EC to start next Tuesday
By Romesh Navaratnarajah:The 416-unit Watercolours executive condominium (EC) at Pasir Ris (pictured) will be open for applications beginning Tuesday 1st May.Comprising four towers, Watercolours offers 280 three-bedroom units from 915 sq ft; 62 four-bedders with dual-key layout from 1,238 sq ft;...
Continue Reading • 26 Apr 2012
Novena Ville up for collective sale
By Romesh Navaratnarajah:Novena Ville (pictured), a 43-unit freehold mixed development in District 11, has been launched for en bloc sale with an indicative price of between S$125 million and S$135 million.Based on a gross plot ratio of 1.4, this works out to a land price of between S$1,748 psf...
Continue Reading • 26 Apr 2012
New DBSS project to launch at Pasir Ris
By Romesh Navaratnarajah: A new DBSS project dubbed Pasir Ris One (pictured), comprising 447 flats, will be launched at Pasir Ris on Friday.The project, which will be developed by SingXpress KayLim Pte Ltd, will include three- to five-bedroom units.Located along Pasir Ris Drive 1 and Pasir...
Continue Reading • 26 Apr 2012
Research to examine British buying habits
By Andrew Batt:Manchester Metropolitan University has teamed up with A Place in the Sun to conduct extensive research into the overseas property buying habits of Brits. The first phase of the project saw researchers from the University interview visitors and around 70 exhibitors at the 2012...
Continue Reading • 26 Apr 2012
Who said there are no affordable private homes in Singapore?
By Romesh Navaratnarajah:Prices of several private property projects launched recently in the Outside Central Region (OCR) have been higher than average, with many such units being sold for more than S$1,000 psf - a new record. Amidst this growing trend, more home buyers are now on the lookout...
Continue Reading • 26 Apr 2012
Residential rents to remain afloat in Q2: Savills
By Romesh Navaratnarajah:Amid weak hiring and businesses planning to restructure their foreign manpower needs, residential leases are still expected to stay afloat throughout the second quarter, said Savills.With the Additional Buyer's Stamp Duty (ABSD) and increasing home prices in the...
Continue Reading • 25 Apr 2012
UK's fixed-rate mortgages drop to two-year low
By Romesh Navaratnarajah: Average five-year fixed-rate mortgages in the UK slipped over the past year, from 5.59 percent to 4.86 percent, triggering a decline in interest from many homeowners as mortgage lenders aim to increase their standard variable rates (SVR) beginning 1 May...
Continue Reading • 25 Apr 2012