Malaysia's mortgage market in rapid decline?
By Romesh Navaratnarajah:Mortgage applications and approvals in Malaysia fell by 18 percent and 27 percent respectively in February compared to last year’s peak. This was attributed to stricter lending guidelines, heightened economic uncertainties and weaker consumer sentiment. According to...
Continue Reading • 19 Apr 2012
Foreign investors must now work harder for PR status
By Romesh Navaratnarajah:Singapore has tightened its criteria for the Global Investor Programme (GIP), which targets foreign investors applying for permanent residency in the country.Administered by the Economic Development Board (EDB) and the Ministry of Manpower through Contact Singapore, GIP...
Continue Reading • 19 Apr 2012
Housing Developers Rules may not be practical, say experts
By Romesh Navaratnarajah:Following yesterday’s amendments to the Housing Developers Rules (HDR) which take effect on 18 May for all new projects, some market watchers have raised concerns that they may not be practical. According to Lee Sze Teck, Senior Manager of Research and Consultancy...
Continue Reading • 19 Apr 2012
Analysts warn of shoebox oversupply
By Romesh Navaratnarajah:Although shoebox apartments promise high capital gains and rental returns, analysts warn that a looming oversupply could have a negative impact on investments. Shoebox units, which are no more than 500 sq ft, are currently very popular, contributing to strong demand in...
Continue Reading • 19 Apr 2012
Property investment sales see massive dip in Q1
By Romesh Navaratnarajah:Singapore’s property investment sales market suffered in the first quarter of 2012, dropping 45.9 percent to S$4.97 billion during the period, from S$9.18 billion in Q4 2011, according to Colliers International.“This came about as investors retreated to the...
Continue Reading • 19 Apr 2012
Keppel Land profit jumps 70%
By Romesh Navaratnarajah:Property developer Keppel Land has recorded a 70 percent jump in its Q1 profit to S$141.9 million, from S$83.3 million in the previous year. Earnings of its property trading segment grew 210.2 percent to S$133.4 million, from S$43 million last year. This was mainly due to...
Continue Reading • 19 Apr 2012
Green Lodge up for en bloc again
By Romesh Navaratnarajah:Green Lodge (pictured), a freehold property at Toh Tuck Road, has been re-launched for collective sale with an indicative price of S$195 million. Marketed by DTZ, this is the third time that the site has been put up for sale, after the first two attempts in 2009 and 2011...
Continue Reading • 19 Apr 2012
Govt tightens rules on property developers
By Romesh Navaratnarajah:With effect from 18 May 2012, property developers will have to abide by revisions made to the Housing Developers Rules (HDR), said the Urban Redevelopment Authority (URA) today. The changes aim to promote transparency in the real estate sector and enable home buyers...
Continue Reading • 18 Apr 2012
UK mortgage fraud up 8% last year
By Romesh Navaratnarajah:Fraudulent mortgage applications in the UK rose eight percent year-on-year in 2011, as financially stressed borrowers falsified their employment status and tried to conceal their bad credit. A new study by Experian shows that 34 in every 10,000 mortgage applications...
Continue Reading • 18 Apr 2012
New cooling measures looming, say brokers
By Romesh Navaratnarajah:The government is expected to implement a new set of cooling measures following the recent surge in private home sales, particularly in the mass market segment, according to brokers.“The bulk of the strong volumes represent demand for small mass market units that...
Continue Reading • 18 Apr 2012
SC Global unveils high-end development
By Romesh Navaratnarajah:Luxury property developer SC Global Developments has announced plans to develop another prestigious project in the exclusive Ardmore Park area.Dubbed Sculptura Ardmore (pictured), the 36-storey freehold project at 8 Ardmore Park will comprise 35 high-end units ranging...
Continue Reading • 18 Apr 2012
Harbour View Gardens launched for en bloc sale
By Romesh Navaratnarajah:Harbour View Gardens (pictured), a three-storey residential project at Pasir Panjang Road is up for collective sale, according to Colliers International.With a total of 14 units, the property sits on a 30,745 sq ft freehold site and includes seven walk-up apartments with...
Continue Reading • 18 Apr 2012
Singapore the most liveable city for Asian expats
By Romesh Navaratnarajah:Once again, Singapore has been named the world’s most liveable city for Asian expats, with its low crime rate and excellent infrastructure as key factors, according to the latest survey by ECA International.Singapore retained its top spot out of 265 locations...
Continue Reading • 18 Apr 2012
Asians look to UK student property investments
By Andrew Batt: Recent research from CBRE has revealed that more than £246 million (S$510 million) of student housing investment deals were transacted in the United Kingdom during Q1 2012, and this is on the back of a more than 50 percent rise in investments in this property asset class...
Continue Reading • 18 Apr 2012
Katong Regency set for Thursday launch
By Romesh Navaratnarajah:Property developer UOL Group is set to launch its latest freehold mixed development this Thursday.Called Katong Regency (pictured), the 244-unit project is located on the former site of Lion City Hotel and Hollywood Theatre along Tanjong Katong Road. It comprises three...
Continue Reading • 18 Apr 2012
Thai luxury villa sold for undisclosed price
By Romesh Navaratnarajah:Minor Property Group, a Thai developer, has announced the sale of one of its most coveted properties - an exclusive villa at The Estates, Samui (pictured). The two-bedroom Estate Tawan was sold to a Thai national for an undisclosed price. Designed by the renowned...
Continue Reading • 17 Apr 2012
Remortgage demand in US may lead to lower rates
By Romesh Navaratnarajah:Remortgage demand will likely increase in the US, which could lead to affordable mortgage rates in the coming months.According to a report, many lenders are raising their standard variable rates (SVR), leading homeowners who shifted to their lender’s SVR to make a...
Continue Reading • 17 Apr 2012
No additional curbs for HK property
By Romesh Navaratnarajah:Despite worries over a looming asset bubble, the Hong Kong government will not likely impose further measures to curb the property market in the near-term.Justin Chiu Kwok-hung, Executive Director at Cheung Kong (Holdings) said the remarks by Financial Secretary John...
Continue Reading • 17 Apr 2012
URA to launch Boon Lay residential site for sale
By Romesh Navaratnarajah:The Urban Redevelopment Authority (URA) is planning to launch a residential site at Boon Lay Way (pictured) for sale, after a developer committed to bid a minimum of S$214.7 million. “As the minimum price committed by the developer is acceptable to the government,...
Continue Reading • 17 Apr 2012
Dominican Republic draws more interest
By Andrew Batt:The Dominican Republic is rising in popularity as a property investment destination, thanks to its year-round sunshine and its fantastic climate. Holiday bookings to the Caribbean island were up by 800 percent according to leading operator Hayes and Jarvis, and that can only add to...
Continue Reading • 17 Apr 2012