SINGAPORE PROPERTY HEAT MAP
Singapore’s property market in a standoff (Yahoo!SG)
Singapore’s property market has entered a standoff between bargain-seeking buyers and developers sticking to their pricing guns, with March’s new home sales dropping 83 percent from a year earlier.
“Buyers think they can have their cake and eat it,” said Alan Cheong, senior director for Singapore at Savills Research. “They are expecting the other side to lose money on their behalf. That idea doesn’t work if you have an economy that’s fully functioning,” he said, citing the city-state’s unemployment rate of only 1.5 percent… Read more >>
$500M investments seen relocating from China (Inquirer.net)
MANILA, Philippines—A number of foreign manufacturers are looking at investing about $500 million and employing up to 3,000 workers in the Philippines in line with moves to relocate operations from China, which has become a less attractive production base, according to the Philippine Exporters Confederation Inc. (PhilExport).
PhilExport quoted Foreign Buyers Association of the Philippines (Fobap) president Robert M. Young as saying that two potential investors from France would visit the country this month, on top of several companies from Canada, China and the United States that would visit in May… Read more >>
Seven Asia-Pacific cities have the real estate X-factor (Property Report)
Seven cities in East and South Asia, the Middle East and Australia make up more than half of ‘World City X-factor Ranking’, released recently by UK-based real estate consultancy firm Savills.
According to the study, global competitiveness, prominence, long-term appeal and stability have contributed to the real estate sector of Singapore, Hong Kong, Tokyo, Shanghai, Dubai, Sydney and Mumbai. Connectivity, web search rankings and international tourist arrivals are the other factors that determined the 2014 ranking… Read more >>
New Private Home Sales Fall 35% In March – Channel NewsAsia
New private home sales fell 35 per cent in March from February, according to data released by the Urban Redevelopment Authority (URA) on Tuesday. More prudent buyers, cautious developers and fewer new launches have led to the lacklustre performance in new private home sales last month, said some property-watchers. According to the URA, 480 new units — excluding executive condominiums — were sold last month. This is a 35 per cent drop from February’s 739 units, after a recovery from January’s 572 units… More >>