Govt releases 6 residential sites for 2380 homes
By Romesh Navaratnarajah:The Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) will release six new residential sites this month, providing more housing choices to home buyers in Singapore.The 99-year leasehold sites could yield a total of 2,380 homes as part of the...
Continue Reading • 17 Apr 2012
March another good month for private home sales
By Romesh Navaratnarajah:New private home sales in Singapore hit a high of 3,032 units in March, just three percent short of the record 3,138 homes sold in the previous month. Excluding executive condos (ECs), the sales volume reached 2,393. Data released today by the Urban Redevelopment...
Continue Reading • 16 Apr 2012
Aussie borrowers face challenges after ANZ rate rise
By Romesh Navaratnarajah: Australian borrowers are facing more challenges, with big banks considering whether to follow the latest move by ANZ bank to increase standard variable interest rates outside the Reserve Bank's cash cycle.In a move to ease the country’s “high cost of...
Continue Reading • 16 Apr 2012
Tender for Pasir Ris residential site awarded to Elitist Development
By Romesh Navaratnarajah:A 23,322 sq m site at Pasir Ris (pictured) has been awarded to Elitist Development Ltd after it offered the highest bid of S$165.89 million in a public tender that closed last Friday, said the Housing and Development Board (HDB). Located at the junction of Pasir Ris Drive...
Continue Reading • 16 Apr 2012
Indonesian billionaires still buying up homes in Singapore
By Romesh Navaratnarajah: The additional buyer’s stamp duty (ABSD) is not stopping ultra-rich foreigners from snapping up luxury homes in the country.Many Indonesian billionaires are still keen on properties in Singapore, lured by what they see are accommodating regulations for foreign...
Continue Reading • 16 Apr 2012
Sky Habitat units snapped up at weekend launch
By Romesh Navaratnarajah: CapitaLand’s Sky Habitat, a huge 99-year leasehold condo development designed by world-renowned architect Moshe Safdie, has seen strong public response with 125 units snapped up as of 6pm yesterday.Located at Bishan Central, units were sold at an average price of...
Continue Reading • 16 Apr 2012
Drop in sales of new high-end homes: JLL
Compared to the robust resale property market, new high-end homes are attracting relatively fewer buyers, according to property consultancy Jones Lang LaSalle (JLL).Of the 192 caveats lodged for non-landed resale homes in Q1 2012, only 30 new units were sold by developers, notably the most...
Continue Reading • 13 Apr 2012
ABSD brings in S$110m
A total of S$110 million was collected between 8 December 2011, when the government first started to collect ABSD (additional buyer’s stamp duty), to 31 March this year. Of the total sum, S$66.2 million were accounted for by foreigners who acquired 369 private homes in a span of about four...
Continue Reading • 13 Apr 2012
2 GCBs sold for whopping S$91.6m
Two freehold Good Class Bungalows (GCBs), one at Ridout Road and the other at Binjai Park, were recently sold for a combined total of S$91.6 million. According to The Business Times, the two-storey bungalow at Ridout Road changed hands for S$60.6 million, while the property at Binjai Park is said...
Continue Reading • 13 Apr 2012
Emerald Square, London officially launches in Singapore
Renowned property developer St James Group today launched its newest development — the Emerald Square (pictured) in Roehampton, South West London, at the Shangri-La Hotel Singapore. The Singapore launch, which is on till 15 April, features luxury apartments that offer strong investment...
Continue Reading • 13 Apr 2012
Singapore economy speeds up in Q1
Singapore’s economy grew 9.9 percent in the first three months of 2012, leading the Monetary Authority of Singapore (MAS) to raise its inflation forecast for the year to between 3.5 and 4.5 percent, from the current 2.5 to 3.5 percent.On a year-on-year basis, the economy grew 1.6 percent...
Continue Reading • 13 Apr 2012
US mortgage rates fall to lowest this week
Average fixed rate mortgages in the US fell to its lowest level this week, with the rates of 30-year and 15-year loans falling to 3.88 percent and 3.11 percent respectively.Mortgage buyer Freddie Mac said this was due to low yield on the 10-year Treasury note, which is a benchmark for mortgages....
Continue Reading • 13 Apr 2012
Loss of foreign talent affecting private property rentals
With a growing number of senior executives from the expatriate community leaving Singapore, some prime locations are seeing a drop in asking rentals. Based on data compiled by The PropertyGuru, the most notable fall in median asking rental prices was seen in District 4 (Harbourfront / Telok...
Continue Reading • 13 Apr 2012
Price gap between mass market, city homes narrowing
The price gap between private homes in the mass market and Core Central Region (CCR) is narrowing, with market watchers saying the gap has narrowed to just above 60 percent in Q1 2012 compared to 108 percent in Q2 last year.This is due to mass market homes recording price increases at a much...
Continue Reading • 12 Apr 2012
More S'poreans snapping up properties down under
More Singaporean buyers are looking to acquire properties Down Under following the introduction of the additional buyer’s stamp duty (ABSD) and volatile stock market.According to property consultancy Savills, the number of Singaporeans snapping up properties in Australian cities climbed 25...
Continue Reading • 12 Apr 2012
Aussie mortgage approvals dip further
Mortgage approvals in Australia have declined for two straight months, resulting in more pressure on the central bank to slash interest rates as consumer confidence weakens. According to data released by the Australian Bureau of Statistics, the number of home loans approved for building and...
Continue Reading • 12 Apr 2012
Private home sales remain strong: DBS
If showflat visits are anything to go by, the residential market is doing well in terms of sales.According to DBS, take up of new units at recent showflat visits have been robust. Meanwhile, two new projects will be launched in the coming weeks. The report also noted that there’s strong...
Continue Reading • 12 Apr 2012
Oxley Holdings unit acquires McDonald's Place
The iconic McDonald's Place (pictured) at the junction of Clementi Road and Bukit Timah Road has been sold to Oxley Sanctuary, a wholly-owned subsidiary of Oxley Holdings, for approximately S$150 million (S$2,918 psf).Oxley said the acquisition price was decided on a willing-buyer-willing-seller...
Continue Reading • 12 Apr 2012
Pasir Ris residential site attracts bullish bids
A total of nine bidders have contested a state tender for a residential site in Pasir Ris (pictured), with Elitist Development offering the highest bid of S$165.89 million, which works out to around S$472 psf ppr.“The nine bids garnered by the site show developers’ keen interest in...
Continue Reading • 12 Apr 2012
UK mortgage rate increase could affect homeowners
UK property owners, faced with the possibility of repossession in case mortgage costs increase, should carefully observe the loan rate trend, warned MoneySupermarket.com.A study by the mortgage price comparison portal reveals that the costs of two- and five-year fixed-rate loans are inching...
Continue Reading • 11 Apr 2012