Property prices expected to rise: survey
By Romesh Navaratnarajah: The majority of respondents in a new survey by Credit Suisse feel that property prices are likely to continue rising and the government is expected to introduce more cooling measures. Out of 300 polled, around 47 percent believe that housing prices will rise next year,...
Continue Reading • 13 Jul 2012
Over 100 landed homes to be showcased at SLP event
By Romesh Navaratnarajah: SLP Realty is set to hold its first-ever Landed Property Exhibition 2012 tomorrow, showcasing over 100 landed homes in Singapore.To be held at No. 37 Jalan Pemimpin, CLARUS Centre #01-02A, the exhibition will feature a wide range of inter terraces, detached houses, Good...
Continue Reading • 13 Jul 2012
Q2 property investment sales pick up steam
By Romesh Navaratnarajah: Singapore’s property investment sales market rebounded strongly in Q2 2012, with all sectors seeing growth, according to the latest report from Colliers International on the investment sales market. Total investment sales value jumped almost 89 percent to S$8.9...
Continue Reading • 12 Jul 2012
Highly anticipated Khazanah-Temasek project breaks ground
By Cheryl Tay: The Marina Bay district will witness a new addition to its skyline in 2017 with the completion of the S$7 billion Marina One (pictured), a project by M+S Pte Ltd that broke ground yesterday. The project is one of two developments by M+S, a 60:40 joint venture (JV) between Khazanah...
Continue Reading • 12 Jul 2012
Singapore buyers still hot for homes up to S$1 million
By Romesh Navaratnarajah: New homes priced between S$500,000 and S$1 million are still the most popular among Singaporean buyers, according to data from the URA (Urban Redevelopment Authority). A total of 3,361 units or 46.3 percent of all new residential transactions done in 1H2012 were found to...
Continue Reading • 12 Jul 2012
Koh Brothers launching sporting themed condo this weekend
By Romesh Navaratnarajah: Parc Olympia (pictured), a new condo project at Flora Drive is set to launch over this weekend (14 – 15 July). Developed by Koh Brothers Development (KBD), a wholly-owned subsidiary of Koh Brothers Group Limited, the 99-year leasehold property will comprise 486...
Continue Reading • 12 Jul 2012
URA to launch tender for site near Potong Pasir MRT station
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) will launch the public tender for a residential with first-storey commercial site (pictured) at Tai Thong Crescent (Parcel C), after a developer committed a minimum price of S$154.47 million.Made available for sale through the...
Continue Reading • 12 Jul 2012
Property market moving in the stable path, says Khaw
By Romesh Navaratnarajah: Following the implementation of recent cooling measures, indications that the property market is moving in a stable and more sustainable path are now more apparent, according to Khaw Boon Wan, Minister for National Development.Despite this, Khaw said that the...
Continue Reading • 11 Jul 2012
Market shows tepid reaction to CapitaLand-Ascott deal
By Romesh Navaratnarajah: The recent deal between CapitaLand and Ascott Residence Trust (Ascott Reit) gained a lukewarm reaction from the market, with both counters recording only a mild boost in prices.Although CapitaLand is considered the “greater beneficiary” of the deal,...
Continue Reading • 11 Jul 2012
ABSD to have ripple effect on housing prices: expert
By Romesh Navaratnarajah: The additional buyer’s stamp duty (ABSD) imposed on foreigners purchasing private homes in Singapore has had a ‘ripple effect’ on prices and will eventually cool the market, said a property expert.Dr. Liao Wen-Chi of the National University of...
Continue Reading • 10 Jul 2012
Asia Gardens put up for sale
By Romesh Navaratnarajah: Asia Gardens (pictured), an 84-unit condo development located within the upcoming Spottiswoode residential cluster has been launched for collective sale.According to marketing agent Savills Singapore, the development sits on a 72,059 sq ft land parcel and has a gross...
Continue Reading • 10 Jul 2012
ASEAN homes are best property investments, says report
By Romesh Navaratnarajah: The ASEAN (Association of Southeast Asian Nations) region has witnessed a 15 percent year-to-date rebound in property prices, with Indonesia and Singapore taking the lead. Indonesia’s strong performance was underpinned by its favourable growth prospects as well as...
Continue Reading • 9 Jul 2012
8000 new private homes planned for H2
By Romesh Navaratnarajah: Approximately 8,000 new private homes will come onstream into the market in the next six months, according to analysts. As such, prices are expected to remain stable notwithstanding the risk of oversupply. In the pipeline are over 700 new units from Hong Leong Group, TID...
Continue Reading • 9 Jul 2012
More expats looking at Balestier for affordable homes
By Romesh Navaratnarajah: Homes in Balestier are becoming a preferred choice for buyers, especially among expatriates who cannot afford to buy expensive city centre properties. While units in Balestier are usually 20 percent more affordable than nearby prime areas, they are still fairly central....
Continue Reading • 9 Jul 2012
Property buyers, sellers protected from economic worries
By Romesh Navaratnarajah: Despite the challenging global economic situation, Singapore’s AAA rating protects both property sellers and buyers, according to a Savills report on the residential market. The report echoed the Ministry of Trade and Industry’s cautious growth outlook for...
Continue Reading • 6 Jul 2012
Condo rentals up due to expats relocating
By Romesh Navaratnarajah: Rentals for non-landed homes across all segments grew in Q2 2012, buoyed by the seasonal increase in leasing activity during April and May, noted DTZ Research.The trend is due to expatriates moving to Singapore after the summer holidays and the fact that they tend to...
Continue Reading • 6 Jul 2012
Slew of new projects launching in coming weeks
By Romesh Navaratnarajah: A string of new projects will be coming onto the market in the next few weeks, offering buyers more housing options. City Developments Limited (CDL) and Hong Realty are expected to launch their 99-year leasehold Haus@Serangoon Garden (pictured) next week. The landed...
Continue Reading • 6 Jul 2012
More ABSD-exempt foreigners bought Singapore homes in H1
By Romesh Navaratnarajah:Residential property purchases made by foreigners from countries exempted from ABSD (additional buyer’s stamp duty) rose in 1H2012, according to data released by CBRE. These foreign buyers, including permanent residents (PRs), hail from the US, Iceland,...
Continue Reading • 5 Jul 2012
Private property owners making big gains
By Romesh Navaratnarajah: Since 2009, private homeowners in Singapore have greatly benefitted from the recovery in the property market. A report by Square Foot Research revealed that owners received at least S$20.3 billion in gross profit since late 2009 based on caveats data. This explains the...
Continue Reading • 5 Jul 2012
Malaysians now the top buyers of Singapore properties
By Romesh Navaratnarajah: Malaysians have outpaced the Chinese as the top overseas buyers of Singapore properties, according to data compiled by the Urban Redevelopment Authority (URA) and CBRE Research. In 1H2012, Malaysians accounted for 27.6 percent of all foreign purchases, while buyers from...
Continue Reading • 5 Jul 2012