Congratulations to Noena de Leon and to all DWG 2nd Quarter 2015 Top Producers.
Congratulations to Noena de Leon and to all DWG 2nd Quarter 2015 Top Producers.
Get ready to smile: Everything your inner child thought was just a fairytale can actually be found in this hotel.
The Castle in Clarens (which you’ll find nestled into the Red and Maluti mountains of South Africa) is its official name, but it’s more commonly referred to as Rapunzel’s Tower, which served as its inspiration. And we have to say, it kind of puts the fairytale to shame.
Its decor aims to mimic a regal fantasyland, and has many accents handpicked from around the world by the owners — like tapestries from Dubai and tile from Europe. Other features — the elevated master bedroom and a garden of rampions (otherwise known as Campanula rapunculus) — also offer nods to the storybook tale.
Thanks to a majestic fireplace, mountain views, and nearby art galleries, it really is a place you can let down your hair — but, yes, you can take the stairs to leave the building.
SINGAPORE : These include the Total Debt Servicing Ratio on property purchases, restrictions on housing and motor vehicle loans, the introduction of special savings bonds and facilitating easier and wider access to corporate bonds and exchange traded funds.
SINGAPORE: The moribund housing market may have set off a chorus of voices calling for the property cooling measures to be relaxed, but Monetary Authority of Singapore (MAS) managing director Ravi Menon said it is premature to do so as the price correction has been modest, putting paid to hopes among developers and homeowners of a market rebound.
“Property prices have softened somewhat, but like I said last year, in the context of the price increase that had occurred – 60 per cent over three years – the softening we have seen is really not all that much. So, it’s still premature to consider removing any of the cooling measures that are in place,” Mr Menon said on Monday (Jul 20) at the media briefing to release the central bank’s annual report.
Housing prices began their sharp climb in the middle of the 2009 as confidence returned to the market after the global financial crisis, before reaching their peak in the third quarter of 2013. The market has since fallen steadily but gradually after the MAS introduced in June that year the Total Debt Servicing Ratio framework for property loans to strengthen credit practices by financial institutions and encourage prudence among borrowers. Read more >>
SINGAPORE : In April, the property developer behind a Batam villa project splashed a series of print advertisements promising views of Marina Bay Sands (MBS) and leaping dolphins at the residents’ doorsteps.
But now, Singapore’s advertising watchdog, the Advertising Standards Authority of Singapore (Asas), has objected to the ads, and asked the developer to change them.
It found three things unacceptable: claiming that landmarks such as Marina Bay Sands are visible from the villas, promising a guaranteed rental of 7 per cent a year and quoting an anonymous buyer on how wonderful the development is.
The watchdog reviewed the ads after a Sunday Times report in May on the villas, which cost $758,000 each and are being built around a lagoon of captive dolphins. Read more >>
SINGAPORE : A company linked to low-profile investor Denis Jen, who owns shopping malls in Australia, is buying 158 Cecil Street for S$240 million from a fund managed by Alpha Investment Partners, the fund management arm of Keppel Land.
The price works out to about S$2,100 per square foot based on the 14-storey building’s net lettable area of around 115,000 sq ft. 158 Cecil Street is on a site with a balance lease term of around 65 years.
Formerly known as The Spazio and Dapenso Building, the property underwent a major revamp several years ago.
Alpha acquired the property for S$235.5 million in 2007 from KOP Properties, which agreed to complete a major refurbishment before delivering the property in 2009 to Alpha, which positioned the asset as a green building. Read more >>
NEW YORK, USA : As Related Cos.’ $20 billion real estate complex rises on the far west side of Manhattan, legislators in Washington are debating the fate of a program that has been critical to building it.
The caissons underpinning the 28-acre Hudson Yards project, and steel beams rising for towers from Seattle to Los Angeles, are resting on the same foundation: a bedrock of cash from Chinese individuals. Developers are taking advantage of a record amount of money that’s flowing through the EB-5 program, which grants green cards to foreigners that invest a minimum of $500,000 in projects that create jobs.
Lawmakers are pressing for changes to EB-5 when it comes up for renewal by Congress in September. Proposed legislation seeks to redirect investments to poor and rural communities and would make it tougher for developers to access funds in big cities such as New York, where at least $3.2 billion of EB-5 cash has gone toward building the skyline since 2010, according to a study by Jeanne Calderon and Gary Friedland, professors at New York University’s Stern School of Business.
“It wouldn’t be the death knell, but it would change everything dramatically,” said Dan Dwyer, a New York-based lawyer with Dai & Associates who specializes in EB-5 financing.
The bill, S. 1501, sponsored by senators Patrick Leahy, a Vermont Democrat, and Chuck Grassley, a Republican from Iowa, aims to ensure that the poorer areas that were the intended beneficiaries when the program began in 1993 are being adequately served. The measure also proposes stricter oversight to guard against fraud, and raising the minimum investment to $800,000. Read more >>
SINGAPORE : The final phase of this masterplan involves drawing up a vision for an almost 17-square-kilometre area representing Amaravati’s core. It will contain government buildings, residential and commercial developments and possibly light industries.
SINGAPORE : The two-storey hawker centre, located within the existing Pasir Ris Town Park, will offer 45 cooked food stalls, and family-friendly amenities.
SINGAPORE : Tougher rules on bank lending in the Asia-Pacific region are forcing investors and property firms to turn elsewhere to secure funding.
Banks in the region have been hit on two fronts since the financial crisis: Global regulations such as the Basel III requirement have increased the level of capital they must hold, while local rules in markets such as Hong Kong, like caps on loan-to-value ratio and additional stamp duty, have belted their mortgage business.
As a result, bank lending for real estate has slowed in the Asia-Pacific region. Average annual growth fell from 15 per cent to 7 per cent between 2005 and last year. Read more >>
SINGAPORE : Five Malaysians from a renovation company who allegedly claimed to be HDB or town council contractors were charged yesterday with duping residents into giving them deposits for repair works.
The five – from Shinden General Contractor – each face between two and five charges involving sums of $300 to $830. Khaw Ee Leong, 27, allegedly cheated a Potong Pasir resident of $200 on April 8 last year.
A second charge accuses him of scheming with Chong Sin Yu, 33, to cheat residents of Block 12, Lorong 7 Toa Payoh, and inducing a 64-year-old man into delivering $200 to Chong on May 9 last year.
Chong’s five charges involve a total of $830. He is accused of also conspiring to cheat residents in Yishun Street 11 and Jalan Batu, as well as deceiving two women into giving him $10 and $200 respectively. Read more >>
SINGAPORE : It would be hard to find a bunch of Singaporeans more loyal to their neighbourhood than those who live in the east.
“We have everything: good hawker food, good schools and we are near to the airport,” said marketing and sales executive Angela Oh, 26.
Like many other east-siders, Ms Oh, who has lived in Bedok all her life, says she cannot imagine living anywhere else.
“Unlike the west where there are a lot of industrial estates, the east is really a place where you can live, play and be at ease,” she said.
According to boundaries drawn by the Urban Redevelopment Authority, the east stretches from Changi all the way to Bedok. Read more >>
For Rent – 110 Commonwealth Crescent (Bedroom)
For viewing, please call:
Paul de Leon
Mobile: +65 8180 4136
Dennis Wee Realty Pte Ltd
CEA Reg. No.: R019100D
SINGAPORE, 15 Jul 2015 – Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 375 housing units last month – well below the revised figure of 643 units for May.
SINGAPORE : Rental prices for non-landed private residences fell by 0.5 per cent in June compared to May, according to flash estimates released by SRX Property on Wednesday (Jul 15).
Non-landed private property units in the Core Central Region and Outside Central Region saw rental prices fall by 0.8 per cent and 0.7 per cent, respectively, while units in the Rest of Central Region saw no change.
June’s rents were down 6.5 per cent year-on-year, and down 12.4 per cent from its peak in January 2013, SRX Property said.
An estimated 3,777 units were rented in June, a 1 per cent increase from the 3,739 units rented in the previous month.
Year-on-year, rental volume was 15.4 per cent higher than the 3,273 units rented in June 2014. Read more >>
SINGAPORE : Moody’s Investors Service has revised its outlook for Singapore’s (Aaa stable) banking system to stable, reflecting the domestic property market’s soft landing, and moderating domestic and cross-border credit growth. The outlook was previously negative since July 2013.
Moody’s analysis is contained in its just-published report ‘Banking System Outlook: Singapore’ by Eugene Tarzimanov, a Moody’s vice president and senior credit officer.
Moody’s rates Singapore’s three major banking groups – that account for around 60 per cent of domestic system assets at end-2014 – DBS Bank (Aa1 stable, aa3), Oversea-Chinese Banking Corporation (Aa1 stable, aa3) and United Overseas Bank (Aa1 stable, aa3). Moody’s also rates Bank of Singapore (Aa1 stable, a3), the private-banking subsidiary of OCBC.
Moody’s expects that Singapore banks will continue to benefit from healthy – although lower – economic growth both domestically and in their regional operations. While real GDP growth in Singapore will slow to around 3 per cent in 2015 and 2016 as a result of slower growth in China, this will be offset somewhat by the recovering US economy. Read more >>
ITALY : U.S. second homebuyers are checking out Europe this summer, with the UK, France and Italy enjoying the lion’s share of their interest. According to InsureMyTrip, the three European countries will be the most popular destinations for travel beyond the US’s borders between June and August 2015.
But it’s not just a vacation for all, an increasing number of U.S. travellers are looking to pick up a second home while on their vacation, at least that’s the case in Italy, according to Jane Smith of local property agency Magic Marche.
Jane commented, “Our enquiry rate for the first half of 2015 is over 20% higher than for the same period in 2014. With a strong US dollar against the Euro, buyers from the USA have increased in numbers. Restored country houses remain the most popular choice but we’ve also seen a growing trend in townhouses, where buyers can enjoy the benefits of having shops, restaurants, cafés and local markets right on their doorstep.” Read more >>
SINGAPORE : A total of 552 non-landed private residential units were resold last month, compared to 412 units in June 2014.
SINGAPORE : As Singapore faces a “new normal” of slower growth and even stagnation risks, the property market is unlikely to stage a major rebound even if some cooling measures are relaxed now, market watchers said at a property seminar on Tuesday.
Chua Hak Bin, head of emerging Asia economics at Bank of America Merrill Lynch, warned that Singapore may enter a period of stagnation over the next couple of years.
Recent alarm bells were sounded when employment growth contracted for the first time in the first quarter since the global financial crisis (GFC), loans growth contracted in May for the first time since the GFC, and Singapore’s inflation plunged to the lowest in five years, he said.
Some studies in the US have shown that macro-prudential measures such as housing loan-to-value ratios and stamp duties are more effective as tightening tools, but loosening these measures has less impact akin to “pushing on a string” in a downturn, Dr Chua said at the Real Estate Developers’ Association of Singapore (Redas) property market seminar.
Redas president Augustine Tan flagged that any recovery in the property market will not be brisk. “We have to brace ourselves for a different mode of operation as the real estate market enters a different period,” he told market practitioners at the seminar. “The build-up of the oversupply situation in the private residential market will not abate in the short term and recovery will not be a quick one.” Read more >>
SINGAPORE : The recent record price of $31 million for the sale of a coffee shop in Bukit Batok and the $23.8 million transaction in 2013 for a coffee shop in Hougang are outliers, and their sellers are not speculators, Minister for National Development Khaw Boon Wan told Parliament today.
He was replying to a question from Workers’ Party Non-Constituency MP Gerald Giam on whether the Government was concerned about the high transaction prices, and what measures it was taking to mitigate their impact on rentals and cooked food prices.
The sale of Yong Xing Coffee Shop at Bukit Batok Street 11 made headlines last month. Its seller had bought the 4,521 sq ft coffee shop for $3.4 million nearly 20 years ago. Read more >>
AUSTRALIA : Asian investors are moving beyond property and natural resources in Australia and looking at companies in the service, technology, agriculture and manpower sectors.
Other than attractive prices due to a depreciating Australian dollar, funds are cheaper to borrow due to lower interest rates. The proprietary technology available in Australian companies is also a reason for the increased interest.
Australian companies tend to attract Asian investors, who look at the potential of a business in the context of a much bigger Asian market, noted Mr Balaji Swaminathan, head of Australian bank Westpac’s international headquarters.
Infrastructure assets are also immensely popular with Asian investors, he added. “In the last 12 months, we have financed 11 out of the 12 infrastructure deals in Australia,” he disclosed. Read more >>