Only 3% of UK retirees want to live with their kids
By Romesh Navaratnarajah: Although most Britons nearing retirement prefer to live close to their children, very few would like to spend their twilight years living in the same house with them, according to a recent HSBC report. Globally, 56 percent of women surveyed said they would be...
Continue Reading • 27 Feb 2013
Foreigners dominate prime property in Thailand
By Romesh Navaratnarajah:Overseas buyers accounted for 100 percent of investors in Phuket’s luxury property market last year, according to Knight Frank. Over in the Thai capital Bangkok, condominium launches in the Sukhumvit area and the central business district (CBD) were particularly...
Continue Reading • 26 Feb 2013
HK home sold for $84m despite cooling measures
By Romesh Navaratnarajah: Despite the tighter measures rolled out to cool Hong Kong’s property market, a two-storey home in the city has been sold for a whopping HK$84 million (S$13.42 million), according to reports. Located at Gough Hill Residences in the tony Peak neighbourhood, the...
Continue Reading • 26 Feb 2013
HK home sales fall amid stamp duty hike
By Romesh Navaratnarajah: In a move aimed at cooling the property market, Hong Kong’s government raised the stamp duty for all properties priced over HK$2 million (S$319,481) to 8.5 percent last Friday, leading to a decline in home sales over the weekend. According to Buggle Lau, Chief...
Continue Reading • 25 Feb 2013
Thailand property in the spotlight
By Andrew Batt:Property investment opportunities in Thailand will be in the spotlight again this weekend at PropertyGuru’s Thailand Property Show in Singapore. Three projects from Bangkok and Hua Hin will be showcased at the event, which will take place at Orchard Hotel on Saturday,...
Continue Reading • 25 Feb 2013
Tallest building set for Saudi Arabia
By Andrew Batt: British firms have won the contract for the US$1.2 billion construction of the world’s tallest building. London-based Mace will work with fellow British company EC Harris on the Kingdom Tower project (pictured) in Jeddah, Saudi Arabia. When completed, the tower will be...
Continue Reading • 25 Feb 2013
Vita Student partners with Savills for student project
By Romesh Navaratnarajah: UK developer Vita Student which specialises in hotel standard accommodation for students has partnered with Savills in Asia to help market its 158-unit Crosshall development in Liverpool. “The attractive yields and low entry prices have led to student accommodation...
Continue Reading • 22 Feb 2013
Philippines Property Show this weekend
By Romesh Navaratnarajah: PropertyGuru, Asia’s leading property portal, will hold its second Philippines Property Show at Marina Bay Sands Convention Centre, Level 3 Begonia this weekend (23 – 24 February) from 11am to 7pm daily. The exhibition will showcase resort properties from...
Continue Reading • 22 Feb 2013
Growing Asian interest in Scottish property
By Romesh Navaratnarajah: The Far East has built a relationship with Scotland through salmon and whiskey, but this is now slowly extending to property. According to UK-based property investment firm Grant Property, buyers from the Far East spend £1 million (S$1.89 million) on average for...
Continue Reading • 22 Feb 2013
Fancy a home near Abbey Road?
By Romesh Navaratnarajah: The cover of the 1969 album by The Beatles made Abbey Road a famous spot in London. And now, home buyers from Singapore can practically walk on the same street with the nearby Manor Apartments (pictured) by UK-based Residential Land launching here over the weekend, said...
Continue Reading • 21 Feb 2013
Malaysia: No plans to hike minimum property price for foreigners
By Farah Wahida: The Malaysian government has no plans to raise the RM500,000 (S$199,870) minimum entry for foreign property buyers, according to Housing and Local Government Minister Datuk Seri Chor Chee Heung.While the ministry had considered increasing the minimum price, it found that...
Continue Reading • 19 Feb 2013
S'pore to play larger role in Iskandar
By Farah Wahida: Singapore investors and developers are expected to play a major role in Iskandar Malaysia’s property market, reported The Star.A source said that Singapore-owned Temasek Holdings had last year acquired a 30 percent stake in Central Malaysian Properties (CMP) for RM300...
Continue Reading • 19 Feb 2013
Dubai to build two new islands
By Romesh Navaratnarajah: A new 6.3 million sq ft island is being developed 500m off the coast of Dubai. Once completed, Jumana Island will be home to an upcoming luxury boutique resort, low-rise apartment buildings, super-luxury beachfront homes and a private marina. According to media reports,...
Continue Reading • 18 Feb 2013
Plans revealed for UK Mansion Tax
By Andrew Batt: The leader of Britain’s opposition, Ed Milliband, has revealed plans to introduce a ‘Mansion Tax’ on homes worth more than £2 million (S$3.8 million) if his party is elected to power at the next general election.Shadow Finance Minister Ed Balls said there...
Continue Reading • 15 Feb 2013
Dutch architect to build 3D-printed house
By Nikki De Guzman: Using the world's largest 3D printer, Dutch architect Janjaap Ruijssenaars of Universe Architecture in Amsterdam plans to print a building resembling a giant Mobius strip with a floor space of about 11,840 sq ft.Ruijssenaars said the building “will have parts usually...
Continue Reading • 14 Feb 2013
Chinese investors looking beyond London
By Romesh Navaratnarajah: Leveraging on the weak pound and strong yields, Chinese investors are looking at the UK's regional cities for new build investment properties, said lettings specialist Assetz.Affected by the red-hot property market in many Chinese cities like Shanghai and Beijing, these...
Continue Reading • 14 Feb 2013
Italy ranked top retirement destination
By Romesh Navaratnarajah:Italy has emerged as one of the top destinations in the world for retirees, attracted to the country's ideal climate and efficient healthcare system, according to The Huffington Post and AARP (formerly the American Association of Retired Persons).In fact, the World Health...
Continue Reading • 14 Feb 2013
China faces huge task in rebuilding rural homes
By Romesh Navaratnarajah: China’s Ministry of Housing and Urban-Rural Development has announced plans to rebuild three million houses for rural residents this year, said media reports.According to a ministry spokesman, there are about 20 million unsafe homes in rural China. As such, the...
Continue Reading • 13 Feb 2013
Highwood House to launch in Singapore
By Romesh Navaratnarajah: Spurred by the robust sales of London homes to international investors, the Highwood House development (pictured) in the exclusive neighbourhood of Fitzrovia in the West End will be showcased at an exhibition at The Regent Singapore from 22 to 24 February. Developed by...
Continue Reading • 13 Feb 2013
Island hideaway sold for more than S$4.75m
By Romesh Navaratnarajah: A 65 acre island (pictured) off the coast of Ireland has been sold for over €2.85 million (S$4.75 million), according to marketing agent Knight Frank. Called Inish Turk Beg or “Small Island of the Wild Boar”, it is one of the largest islands in Clew Bay...
Continue Reading • 13 Feb 2013