Condos incorporate luxury fittings to attract more buyers
By Romesh Navaratnarajah: To attract more buyers at its relaunch this weekend, a condo project at Leonie Hill called The Lumos (pictured) is fitting some units with luxury brands Fendi and Kenzo.The 53-unit condo was first marketed in 2007 and 18 units were sold. But sales were frozen...
Continue Reading • 25 Apr 2012
UAE following Singapore real estate's footsteps
By Romesh Navaratnarajah: The United Arab Emirates (UAE) expects to match some of the world’s most progressive real estate sectors — Central London, Mumbai and Singapore. As the annual property show CityScape Abu Dhabi is held, watchers cannot help but note UAE’s strengths in...
Continue Reading • 25 Apr 2012
Speculators blamed for "Phuket sinking" rumour
By Andrew Batt: Real estate speculators have been blamed for spreading rumours that the Thai island of Phuket will sink into the Andaman Sea on April 28.The Director of Thailand’s Environmental Geology Bureau spoke yesterday to quash the rumours. Lertsin Raksasakulwong said: "Phuket...
Continue Reading • 24 Apr 2012
Aussie home loan demand picks up
By Romesh Navaratnarajah:Mortgage inquiries in Australia have picked up for the first time in two years, an early indicator that home prices in the country are set to recover in the coming months. According to research by leading data provider Veda, home loan inquiries climbed 1.5 percent in the...
Continue Reading • 24 Apr 2012
Developers race to build KL's first condo with beach pool
By Romesh Navaratnarajah:With strong competition in the market, three condo developments in Kuala Lumpur are in the race to be the first project offering a beach pool. Bukit Kiara Properties (BKP) has previously promoted its facility as the Versilica Sky Beach (pictured) because the beach pool is...
Continue Reading • 24 Apr 2012
Sales of luxury property in Beijing down 78%
By Romesh Navaratnarajah:Beijing’s luxury property market recorded a weaker showing in the first quarter of this year, with some developers presenting poorer financial conditions while others were forced to issue debt notes.According to Colliers International, total sales volume for luxury...
Continue Reading • 24 Apr 2012
Developers still selling unsold units from older launches
By Romesh Navaratnarajah:A number of developers are aggressively promoting their unsold units from previous launches; offering buyers with attractive discounts. Over the weekend, Bukit Sembawang offered 19 units at Paterson Suites, a high-end condo at Paterson Road that was completed in 2010....
Continue Reading • 24 Apr 2012
2 residential sites go en bloc
By Romesh Navaratnarajah:Following the collective sale launches of Harbour View Gardens and Green Lodge last week, two more sites, Kemaman View and Thomson View Condominium (pictured), went en bloc yesterday. Kemaman View is a freehold residential development located at Jalan Kemaman off...
Continue Reading • 24 Apr 2012
Singapore's inflation up 5.2% in March
By Romesh Navaratnarajah: Singapore’s inflation rate grew sharply in March, driven by the rising costs of housing and cars, suggesting that the Monetary Authority of Singapore (MAS) may tighten its monetary policy further in the coming months. According to the latest figures, the...
Continue Reading • 24 Apr 2012
UK mortgage repayments to rise
By Romesh Navaratnarajah:Mortgage repayments in the UK are expected to rise in May, as lenders increase their standard variable rates (SVRs), leaving many borrowers locked into expensive deals. While the Bank of England’s base rate remains unchanged, Halifax’s SVR will increase by...
Continue Reading • 23 Apr 2012
Samui sales marks the return of branded residences
By Andrew Batt: While other markets have seen the rapid emergence of branded residences as a fresh growth segment, the Thai island of Koh Samui has been a bit slower to react. But that has changed with the recent sale of one of the most exclusive villas on the island.Minor Property Group, which...
Continue Reading • 23 Apr 2012
Growing number of Chinese developers going bust
By Romesh Navaratnarajah:More small Chinese property developers have declared bankruptcy due to the cooling measures aimed at curbing house prices in the country, according to The Business Times.Unable to pay back debt, Guangdong-based Guangdeye Property Development has filed for bankruptcy,...
Continue Reading • 23 Apr 2012
More buyers backing out of property deals
By Romesh Navaratnarajah:Buyers of around 107 new homes changed their minds last month and returned the units to developers, according to a Goldman Sachs report. In addition, the global financial services firm said that 100 homes were returned in February. The report noted that the...
Continue Reading • 23 Apr 2012
GuocoLand recovers from poor performance
By Romesh Navaratnarajah:GuocoLand, a wholly-owned property subsidiary of Hong Leong Group, has posted a net profit of S$162,000 for the third quarter ended 31 March 2012, a reversal from the net loss of S$920,000 recorded over the same period last year. The company said revenue for the quarter...
Continue Reading • 23 Apr 2012
Katong Regency is 70% sold out
By Romesh Navaratnarajah:An overwhelming 70 percent of units at UOL Group’s Katong Regency (pictured) were snapped up on the first day of its launch, despite the high prices. The developer noted that at least 170 options in the mixed-use development were issued to buyers. Of these, bigger...
Continue Reading • 20 Apr 2012
BRDB showcases two Kuala Lumpur premier projects
By Romesh Navaratnarajah:Malaysian developer Bandar Raya Developments Berhad (BRDB) is set to showcase two prime residential properties from Kuala Lumpur at the Regent Hotel Singapore this weekend (21 to 22 April), from 10am to 6pm. The first project called 6 CapSquare (pictured) is a...
Continue Reading • 20 Apr 2012
Phuket Quake: Property owners advised to do inspections
By Romesh Navaratnarajah:Property consultancy Jones Lang LaSalle (JLL) has advised property owners in Phuket to carefully inspect their properties, following the 4.3-magnitude earthquake that hit on Monday. Most of the luxury resorts and residential properties on the island are following safety...
Continue Reading • 20 Apr 2012
Singapore-Malaysia RTS close to reality
By Romesh Navaratnarajah:The proposed Rapid Transit System (RTS) connecting Singapore and Johor Bahru in Malaysia may soon become a reality, as both governments are expected to appoint a foreign consultant that will conduct a detailed survey of the project.According to The Business Times...
Continue Reading • 20 Apr 2012
UK mortgage fees on the rise
By Romesh Navaratnarajah:Average mortgage fees in the UK have soared 27 percent to £1,502 (S$3,016) since 2009, according to research done by Moneyfacts.co.uk.“The number of mortgage deals has increased but fees are at their highest since our records began, so consumers need to check...
Continue Reading • 20 Apr 2012
Foreign home buying plunges 78%
By Romesh Navaratnarajah:The number of private homes acquired by foreigners excluding PRs (permanent residents) plunged 78 percent to just 293 homes in the first quarter, from 1,358 in Q4 last year, with the additional buyer’s stamp duty (ABSD) hitting the market hard, according to caveats...
Continue Reading • 20 Apr 2012