SINGAPORE : Efforts to gain conservation status for one of Singapore’s oldest private residential buildings, Pearl Bank Apartments, have hit a roadblock.
Channel NewsAsia understands that so far, about 90 per cent of its residents have given their support to the plan. This is short of the 100 per cent approval required under existing rules, and the deadline is end-October.
According to sources, the Pearl Bank Apartments’ liaison committee has appealed to authorities to review the approval criteria. Read more >>
SINGAPORE : The private housing market remained in the doldrums in September, with sales of non-landed units continuing to decline, according to flash estimates from SRX Property released on Tuesday (Oct 13).
A total of 446 non-landed private homes were resold last month, down 10.6 per cent compared to the 499 units resold in August. On a year-on-year basis, resale volume was down 4.7 per cent from the 468 units resold in September 2014.
Resale prices inched down 0.1 per cent from August, with the fall led by units in the Rest of Central Region and Outside of Central Region, which posted price declines of 1.4 per cent and 0.9 per cent, respectively. In contrast, prices of units in the Core Central Region rose 2.8 per cent from the previous month, SRX Property said. Read more >>
SINGAPORE: The number of consumer complaints against property agents in Singapore fell to 702 cases in the 12 months till March 2015, down from the 751 cases in the previous 12-month period.
This is according to data released by the Council for Estate Agencies (CEA) in its 2014/15 annual report on Monday (Oct 12).
Most of the complaints, or 46 per cent, were transactions related to HDB flats. Another 34 per cent related to private residential properties, CEA said.
Among the HDB-related complaints, there were 232 cases linked to resale transactions and another 91 cases linked to rental deals. Another 134 complaints related to the sale of private properties. Read more >>
JAPAN : According to CBRE, outbound real estate investment by Japanese investors has been expanding since 2011. Although 2014 saw the total investment amount (in existing properties only, excluding purchases for development) drop 6.9% y-o-y to $1.8 billion, the market is likely to expand going forward.
Major investors driving the market to date include real estate companies and general trading companies. Offices are the most favored asset class, but in recent years, more investors are diversifying into hotels, residential and other sectors. The preferred regions for investment are North America and Europe. However, with regards investment for development purposes, such as land transactions which are not included in the figures quoted above, the largest number of investments has been in Asia.
Outbound real estate investment growth by Japanese companies is based on:
- The expectation that demand for real estate in Japan will decrease in the long term because of the declining population
- Greater geographical diversification of assets to lower investment risks
- Increasing competition in the Japanese real estate investment market on the back of recovery in fundamentals and favorable funding environment Read more >>