Shanghai's residential market driven by first-time buyers
By Cheryl Tay:The high sales momentum in Shanghai’s residential market in Q2 and Q3 2012 continued in Q4, with first-time home buyers as the main market drivers, according to Jones Lang LaSalle (JLL). Demand from first-time buyers also helped facilitate a sales recovery in Pudong.Sales of...
Continue Reading • 10 Jan 2013
S'pore buyers expected to snap up KL penthouses
By Romesh Navaratnarajah: Malaysian developer Eastern & Oriental Berhad (E&O) has launched 16 penthouse suites at St Mary Residences in Kuala Lumpur targeting Singaporean buyers who have shown strong interest in the luxury development.95 percent of the 457-unit condominium is now sold,...
Continue Reading • 9 Jan 2013
Dubai world's strongest housing market
By Romesh Navaratnarajah:Dubai has been named the world’s strongest housing market, with its residential property index climbing 13.46 percent in 2012 compared with a 1.8 percent decline in the previous year, according to Global Property Guide.The report also revealed that Singapore fell...
Continue Reading • 8 Jan 2013
Bumper month for UK property exhibitions
By Romesh Navaratnarajah: Highlighting the popularity of London homes among buyers and investors in Singapore, a number of new developments in the UK capital will be launched at property exhibitions in the city-state this month. It was earlier reported that London tops the list of property havens...
Continue Reading • 8 Jan 2013
Ho Chi Minh City unlikely to see swift turnaround
By Andrew Batt: The residential property market in the Vietnamese city of Ho Chi Minh is unlikely to see a significant turnaround in 2013 despite the government’s efforts to boost the sector.Marc Townsend, Managing Director for CB Richard Ellis (Vietnam), revealed that finance for both...
Continue Reading • 7 Jan 2013
A warm December for China home prices
By Romesh Navaratnarajah: The average price of a new home across 100 major cities in China rose 0.03 percent to 9,715 yuan psm (S$1,905) in December 2012 compared to the same period in 2011, said the China Index Academy (CIA). On a monthly basis, home prices climbed 0.23 percent from November,...
Continue Reading • 4 Jan 2013
'Gangnam Style' singer buys LA condo in cash
By Romesh Navaratnarajah: South Korean superstar PSY recently bought a condominium unit in Los Angeles for US$1.249 million (S$1.53 million) and paid for it in cash, according to various sources. Located in a 29-floor building (pictured) on Wilshire Boulevard, the apartment comprises 2,700...
Continue Reading • 4 Jan 2013
UK luxury market to get foreign boost
By Romesh Navaratnarajah: Amid growing financial uncertainty, more foreign property buyers looking for new luxury homes are expected to flock to the UK, which is well-known as a safe haven for investment. Jonathan Cranley, Sales and Marketing Director for Millgate Homes, said that foreigners...
Continue Reading • 3 Jan 2013
More HK homes up for grabs in 2013
By Romesh Navaratnarajah: Despite a weak residential sales market in 2012 due to new cooling measures, Hong Kong developers still expect to sell more new homes this year, said Midland Holdings in a Straits Times report.The realtor estimates that 82,700 residential units were sold in 2012, down...
Continue Reading • 2 Jan 2013
London's One The Elephant to launch here
By Romesh Navaratnarajah: A new landmark residential development in London’s prime zone 1 neighbourhood will be launched in Singapore on 12 to 13 January, said developer Lend Lease. Called One The Elephant (pictured), the project will comprise 284 studio to three-bedroom units within a...
Continue Reading • 2 Jan 2013
Keppel Land China acquires 5th site in Wuxi
By Romesh Navaratnarajah: Keppel Land China has secured a 6.6 ha prime site in Wuxi, China for RMB417.6 million (about S$82 million), further expanding its presence in the city. The company’s fifth project in the area, the site will be developed into 1,135 high-rise apartments with...
Continue Reading • 31 Dec 2012
Housing a bright spot for US economy
By Romesh Navaratnarajah: The value of existing homes in the US climbed, while sales of new properties rose to its highest level in over two years in November, a clear sign that the property market is rebounding, reported Bloomberg.According to the median forecast of 60 economists, sales of new...
Continue Reading • 26 Dec 2012
Laos woos Chinese investment
By Romesh Navaratnarajah: China developer Shanghai Wanfeng Group has commenced works on a US$1.6 billion (S$1.95 billion) integrated development in Vientiane, the capital of Laos. According to Bloomberg, construction works for the complex began last Saturday. Known for developing shopping malls...
Continue Reading • 26 Dec 2012
Boom year for super-prime US properties
By Romesh Navaratnarajah: While the US property market is slowly moving back to a healthy level following the aftermath of the 2008 financial crisis, the super luxury segment has been surging due to hot demand from billionaires. In 2012, this group snapped up multi-million dollar mansions and...
Continue Reading • 21 Dec 2012
London tower sees strong interest
By Romesh Navaratnarajah:London is ripe for investments, especially as the government recently announced a £50 million (S$99.2 million) infusion into a new visionary development for media and technology firms.The initiative aims to revive the well-known Old Street roundabout to become...
Continue Reading • 21 Dec 2012
Australia to act if house prices spiral
By Romesh Navaratnarajah: To prevent a property bubble, the Reserve Bank of Australia (RBA) will take action once home prices start increasing by 10 to 20 percent per year, said Reserve Bank Governor Glenn Stevens.He urged Australians to be comfortable with modest price increases, although...
Continue Reading • 19 Dec 2012
'End of the World' shelters can withstand 1000m high waves
By Romesh Navaratnarajah: Speculation about the world coming to an end has intensified in recent days, with some people believing it could happen this Friday, 21 December – the last day on the ancient Mayan calendar. The rumours have inspired Liu Qiyuan, a furniture maker to design a home...
Continue Reading • 19 Dec 2012
Top property havens 2013
By Romesh Navaratnarajah: With the global residential market expecting a brighter outlook in 2013, some international property hotspots are beginning to emerge. In a recent report in My Paper, property analysts recommended several destinations that could provide lucrative investments to...
Continue Reading • 19 Dec 2012
China home prices to rise in 2013: survey
By Romesh Navaratnarajah:Home prices in China will likely move up slowly next year as the country’s economy recovers and residential demand grows, said a Reuters survey. The study found that home prices could climb 7.0 percent next year and 5.0 percent in 2014. As a result, the government...
Continue Reading • 18 Dec 2012
London asking prices fall, outlook less frothy
By Romesh Navaratnarajah:Residential asking prices in London fell some four percent to average £464,398 (S$919,090) this month, the biggest decline for a December in five years, according to property website Rightmove plc.This was attributed to seasonal factors and an upsurge in supply....
Continue Reading • 18 Dec 2012