Keppel: Waterfront homes still appealing to foreigners
Foreigners snapped up around half of the units sold at Reflections at Keppel Bay (pictured) recently, which suggests that foreign demand remains strong. Three out of the six units at the waterfront development were sold to foreigners at an average price of S$2,100 psf over the past two-and-a-half...
Continue Reading • 23 Mar 2012
US fixed-rate mortgages up slightly
Average 30-year fixed-rate mortgages in the US edged up four percent for the first time since October last year, according to a new report.However, the increase is not expected to affect a rebound in the US residential market.Mortgage lender Freddie Mac said the average rate on 30-year fixed...
Continue Reading • 23 Mar 2012
Geylang sees boom in home launches
Geylang (pictured), which is considered by many as a red-light district in Singapore, is in the middle of a building boom, with developers taking advantage of its proximity to the city centre. According to a report by The Straits Times, nearly 1,900 new residential units across over 25...
Continue Reading • 23 Mar 2012
Fortis development to be unveiled in Singapore
Weston Homes is bringing its new Fortis development (pictured) in West London to the Far East, with three exclusive exhibitions in Hong Kong, Macau and Singapore. International investors will have a chance to buy a quality property within close proximity to London and one of city’s leading...
Continue Reading • 22 Mar 2012
London project to attract Asian buyers
Londonewcastle, a London-based property developer, has announced that planning permission has been granted for the Dollar Bay development (pictured) in Canary Wharf, E14.Jointly developed with UK and European Investment, Dollar Bay development comprises 121 high specification apartments and...
Continue Reading • 22 Mar 2012
UK home loans set to decline
The demand for home loans in the UK is expected to decline after the end of the stamp duty holiday, with many calling for an extension to help boost purchases following the announcement of an increase in mortgage packages offered by lenders.Borrowers could save on the stamp duty for two years if...
Continue Reading • 22 Mar 2012
ABSD the main cause of drop in foreign purchases
December’s property cooling measures have indeed affected non-permanent resident (PR) foreigners buying in the private housing sector.According to The Straits Times, foreigners bought 385 units in November 2011, covering new sales, resales and subsales, which translate to a 16 percent slice...
Continue Reading • 22 Mar 2012
Ascott to manage first serviced residence in Xiamen
The Ascott Ltd (Ascott) has clinched a contract to manage its first serviced residence in Xiamen, reinforcing its position as the largest international serviced residence owner-operator in China.Slated to open later this year, the 169-unit Citadines Jinshang Road Xiamen (pictured) is the first...
Continue Reading • 22 Mar 2012
Condo prices down but landed home prices edge up
Prices of condominiums softened in the first quarter but resale prices of landed homes edged up in the same period, according to the latest estimates released by DTZ.High-end condo prices fell 0.8 percent while values of freehold condominiums slipped 0.7 percent from the previous quarter. DTZ...
Continue Reading • 22 Mar 2012
New York awarded Lee Kuan Yew World City Prize 2012
In recognition of New York City’s remarkable transformation, rising above the difficulties of the post-September 11 period, the city has bagged this year’s Lee Kuan Yew World City Prize.The award, which was accepted by New York Mayor Michael Bloomberg (pictured) and the Departments of...
Continue Reading • 22 Mar 2012
UK stamp duty hike "will not deter foreign buyers”
Buyers of homes above £2 million (S$4.02 million) in the United Kingdom will have to pay a 7 percent Stamp Duty today, up from the previous figure of 5 percent, while those who buy properties through companies will have to pay an extra 15 percent.The U.K’s Finance Minister George...
Continue Reading • 22 Mar 2012
Limited impact from UK property tax clampdown
The proposed closing of a property tax avoidance loophole in today’s United Kingdom budget statement is unlikely to have a serious impact on transactions involving overseas property buyers, according to sources contacted by PropertyGuru.UK Finance Minister George Osborne revealed his plans...
Continue Reading • 21 Mar 2012
Major Chinese banks relax mortgage rates for first-timers
Major banks in China have started to lower mortgage rates for first-time home buyers, following a year of hovering above the benchmark lending rate.Aside from the Industrial and Commercial Bank of China, large banks such as the China Construction Bank, Bank of Communications and Bank of China,...
Continue Reading • 21 Mar 2012
ARA Asset eyeing yuan IPO in Singapore
ARA Asset Management, which is partly owned by Li Ka-shing’s Cheung Kong Holdings Ltd, is eyeing Singapore’s first yuan-denominated initial public offering (IPO), according to three persons with knowledge of the matter. Property trust manager ARA has appointed Standard Chartered, DBS...
Continue Reading • 21 Mar 2012
Westvale Condo at Pasir Panjang up for sale
Westvale Condominium (pictured), a prime freehold residential redevelopment site at 334 Pasir Panjang Road has been put up for sale, with an indicative price of approximately S$85.5 million (S$892 psf ppr). Adjacent to the Singapore Science Parks and National University of Singapore (NUS), the...
Continue Reading • 21 Mar 2012
Shoebox units still popular
Shoebox apartments remain a trend in the country, with one out of seven homes sold last year being a shoebox unit.According to analysis by property consultancy firm R'ST Research, home buyers snapped up 2,037 of such homes in 2011, including 138 shoebox units at Spottiswoode 18, 99 units at...
Continue Reading • 21 Mar 2012
Roxy-Pacific setting trend of shrinking three-bedders
A three-bedroom condominium at Natura at Hillview Terrace (pictured) measures just 635 sq ft, slightly smaller than a squash court and bigger than five HDB parking spaces, said The Straits Times.According to real estate consultants, a typical three-bedroom apartment usually occupies 1,000 sq ft...
Continue Reading • 21 Mar 2012
Man loses claim over disputed land at Kampong Kembangan
The High Court has thrown out a businessman’s claim towards a piece of land which was once owned by his father and is now part of another property.According to Justice Andrew Ang, the ownership of the subject 1,850 sq ft plot located in Kampong Kembangan has already been passed to Dr. Ng...
Continue Reading • 20 Mar 2012
More Aussies considering fixed-rate mortgage deals
More Australian homeowners are considering fixed-rate mortgages given the unpredictable direction of interest rates, according to a survey.The study done by mortgage broker Loan Market revealed that 60 percent of respondents are eyeing fixed-rate mortgages because they are unsure whether banks...
Continue Reading • 20 Mar 2012
LTA unveils plans for Bukit Brown road project
The Land Transport Authority (LTA) has announced its final plans for a new road that will pass through the Bukit Brown Cemetery (pictured). It shows that the LTA will minimise land take and impact to the surrounding environment.Announced in September last year, the road will be built to minimise...
Continue Reading • 20 Mar 2012