S'pore the 6th most expensive Asian city
Singapore has jumped two notches this year to become the sixth most expensive city in Asia, according to the latest Cost of Living Survey by ECA International.The survey also showed that Singapore, for the first time in at least 10 years, is deemed more expensive than Hong Kong, which slipped...
Continue Reading • 7 Dec 2011
Over 100 units sold at Archipelago preview
Property developers UOL Group and Singapore Land have witnessed strong take-up at their joint condo development, Archipelago. The consortium sold slightly more than 100 of the 190 units released for preview sales, which began last Friday.With an average price of S$1,000 psf, the five-storey...
Continue Reading • 7 Dec 2011
Residential site at Alexandra Rd attracts 7 bids
The tender for a residential site along Alexandra Road was officially closed yesterday, with a total of seven bids received.A consortium comprising Sunmaster Holdings Pte Ltd, Intrepid Investments Pte Ltd and Garden Estates (Pte) Limited, submitted the top bid of S$396 million (S$754.38 psf...
Continue Reading • 7 Dec 2011
Prices at new Far East project surprise many
Yesterday, PropertyGuru reported that Far East Organization (FEO), one of Singapore’s leading property developers, had pushed forward the official launch of The Scotts Tower (TST) from today, after strong response at its preview, which began on 25 November.While the project has already seen...
Continue Reading • 7 Dec 2011
The Estates, Samui promoting phase two
Minor International has commenced sales promotions for the second phase of The Estates, Samui.With growing interest coming from Thailand and other Southeast Asian nations, the developer now plans to focus its marketing efforts on the luxury project. “The Residences at St. Regis...
Continue Reading • 7 Dec 2011
UK mortgage approvals on the rise
The number of mortgage approvals in the UK for July 2011 indicated a renewed interest in the real estate market.While mortgage lending in August rose six percent, experts believe this was due to mortgage providers such as the Post Office and Nationwide cutting rates on a range of fixed rate...
Continue Reading • 7 Dec 2011
Overseas investors can benefit from Malaysia's robust market
Malaysia’s growing population has led to an increased demand for new homes, which has in turn pushed property prices upwards, said Steve Melhuish, CEO of PropertyGuru Group, who spoke at the recently concluded Malaysia Property Showcase (MPS) 2011 in Singapore. “However, (the)...
Continue Reading • 7 Dec 2011
Global crisis to slow Singapore's growth: PM Lee
Prime Minister Lee Hsien Loong has outlined how Singapore intends to create jobs and augment incomes as it enters a period of slower economic growth. Speaking at the NTUC’s National Delegates’ Conference yesterday, PM Lee said the tripartite partnership among the government,...
Continue Reading • 7 Dec 2011
Thailand Property Awards winners revealed
Thailand’s leading property developers, projects and agents were rewarded at the sixth annual Thanachart Bank Thailand Property Awards which took place in Bangkok last night.More than 600 attendees attended the gala dinner and ceremony where winners in 31 categories were...
Continue Reading • 7 Dec 2011
CapitaLand to spin-off China projects
CapitaLand, the largest property developer in Southeast Asia, plans to spin off its Chinese projects into two mainland-listed real estate investment trusts (Reits) upon approval of the Reits' listing, according to Liew Mun Leong, President and CEO of CapitaLand.Developers are waiting for...
Continue Reading • 6 Dec 2011
Ipoh: A premier investment destination for foreigners
Despite being one of the major cities in Malaysia, Ipoh has been overlooked for almost 20 years, in terms of property investment and development.However, Peter Chan, Co-Principal of The Haven Sdn Bhd, said Ipoh’s property market has been growing in confidence, especially in 2011, with many...
Continue Reading • 6 Dec 2011
New launches in 2011 may break 10-year record
The number of new private homes in 2011 may be the highest in 10 years, after new launches surged recently. Experts predict that around 18,300 new homes could be released this year, outpacing last year’s 16,500 (the highest in a decade so far) and easily beating the 9,900 annual average...
Continue Reading • 6 Dec 2011
Aussie mortgage applications up
The Australian Finance Group (AFG), Australia’s biggest mortgage firm, has recorded an 18.4 percent increase in mortgage applications in November, worth approximately A$2.9 billion (S$3.8 billion).The firm said investors were encouraged by the interest rate cut implemented by the central...
Continue Reading • 6 Dec 2011
UE E&C clinches building contracts worth S$183m
UE E&C has secured two contracts worth S$183 million to build an executive condominium (EC) in Pasir Ris and the National Continuing Education & Training (CET) Campus in Paya Lebar Central, according to The Business Times.To be built at the junction of Pasir Ris Drive 3 and Pasir Ris...
Continue Reading • 6 Dec 2011
Far East advances launch of The Scotts Tower
The official launch of Far East Organization’s The Scotts Tower (TST) will be pushed forward to tomorrow, after witnessing strong response during its preview, which began on 25 November.Of the initial 56 units, 34 one- and two-bedroom apartments were snapped up during the sales preview....
Continue Reading • 6 Dec 2011
Exclusive homes by YTL for sale early next year
YTL Corp’s luxury housing project on Orchard Boulevard will be sold in the first half of 2012, more than four years after the developer acquired the site.Converted from an old apartment building purchased for S$435 million in 2007, the project will have 78 units targeting wealthy Asian...
Continue Reading • 5 Dec 2011
First, shoebox homes...now its hotels
Singapore’s hotel industry is seeing a new trend with the rise of shoebox hotel rooms.With an increasing number offered at mid-tier hotels, shoebox hotel rooms each feature a bathroom, tasteful finishes and a television set — all at a much cheaper rate.Surprisingly, it has become an...
Continue Reading • 5 Dec 2011
Malaysia Property Showcase debut a success
Last weekend’s Malaysia Property Showcase organised by PropertyGuru was a huge success, with six Malaysian developers — Andaman Group, Ireka Corporation Bhd, Lone Pine Group, Sime Darby Property, The Haven Sdn Bhd and UEM Land — taking part in the event.“The event was a...
Continue Reading • 5 Dec 2011
New sports hub opens at Jurong
Jurong is the first town to benefit from HDB’s Neighbourhood Renewal Programme (NRP), with a new sports hub near Blocks 111 to 118 and 120 to 126 Bukit Batok West Avenue 6/Central. The new Sports Hub, which caters to various leisure and sporting activities for all groups, highlights...
Continue Reading • 5 Dec 2011
Luxury home sales drop this year
The number of transactions in Singapore’s luxury residential market, including bungalows in Sentosa Cove and upmarket condos/apartments in choice districts, has dropped this year, according to Savills.However, it noted that shares of non-PR foreigners have surged in both categories of...
Continue Reading • 5 Dec 2011