SINGAPORE : URA says there were 2,500 cases of unauthorised use of private residential properties in 2014, up from 2,100 cases in the previous year. It also says a Geylang apartment that caught fire last Friday was illegally used as a dormitory.
MALAYSA : Debate on the Prevention of Terrorism Bill dragged from Monday morning (Apr 6) till the wee hours of Tuesday. The Bill was finally passed at 2.27am.
SINGAPORE : Amid the sluggish property market in recent years, prices of leasehold private homes appear to have been more resilient than those which are freehold, according to a study by consultancy Cushman & Wakefield.
Cushman & Wakefield said prices of non-landed freehold homes saw a steeper drop of over 4 per cent since the third quarter of 2013, compared to the 1 per cent decline for those on a 99-year leasehold. Its study was based on the price indices of freehold and leasehold condominiums compiled by the Urban Redevelopment Authority (URA).
However, analysts have said transaction volumes have been thin, and that could have affected the overall numbers. Read more here >>
SINGAPORE : There has been much doom and gloom in the property market since cooling measures hammered buying sentiment but the pain seems largely restricted to a small segment of the market.
Private home prices have fallen 1.1 per cent from the fourth quarter, according to the Urban Redevelopment Authority’s (URA) property price index released on Wednesday. The index is compiled from stamp duty data from the Inland Revenue Authority of Singapore.
But new figures from developers and caveats lodged with the Singapore Land Authority showed that not all projects have suffered steep price declines. In fact, some have even managed to eke out respectable gains. Read more here >>
MYANMAR : Singapore’s investments in Myanmar are soaring, with the amount pumped in by organisations rising 41.5 per cent from 2012 to hit $311.4 million in 2013.
Spending has been particularly strong in the areas of urban development, connectivity and finance, said Ms Lai Shu Ying, the South-east Asia director of trade agency International Enterprise (IE) Singapore.
She attributes this to Myanmar’s abundant natural and human resources and its strategic location at the crossroads of India, China and South-east Asia.
The level of investment is striking, given that it has been only three years since Myanmar’s economic liberalisation.
And there is more to come, with one in four Asian enterprises planning to expand into Myanmar this year, according to a survey by the United Overseas Bank last year. Singapore was Myanmar’s third-largest trading partner in 2013, while bilateral trade was valued at $3.23 billion last year. Read more here >>
PHILIPPINES : Ayala Land, Inc. (ALI), Philippine’s second largest property conglomerate by market value, said it bought a minority stake in Malaysian property developer MCT Bhd. in a P1.9-billion ($43-million) deal that would expand its footprint in Southeast Asia.
The transaction was through a private placement coursed through ALI’s wholly owned subsidiary Regent Wise Investments Ltd., which will gain 9.16% of MCT Bhd. and a seat in the Malaysian company’s seven-member board, ALI officials told a media briefing yesterday.
In a separate disclosure to Bursa Malaysia yesterday, MCT named ALI President and Chief Executive Officer Bernard Vincent O. Dy as a non-independent, non-executive director and a member of its remuneration and nomination committees.
MCT, which began operations as Modular Construction Technology Sdn. Bhd. in 1999, yesterday debuted on the main market of Bursa Malaysia via backdoor listing after “the completion of the reverse takeover exercise of GW Plastics Holdings Berhad,” the Malaysian builder said in its web site. Read more here >>
BRISTOL, UK – The number of homes sold in the Bristol postcode encompassing Avonmouth nearly doubled in 2014 from the previous year, fuelling fears that Britain’s latest property hotspots could develop into regional house-price bubbles.
Avonmouth, next to the Royal Edward Docks (a vibrant area that has benefitted from extensive regeneration) was the district with the biggest increase in transactions last year, as sales jumped 94.5pc in 2014, according to new analysis from property agents Hamptons International.
The number of sales rocketed 128 to 249 over the year and house prices grew 21.1pc, double the rate of the national average.
In the Hamptons 2014 index of British postcodes by transaction volumes, neighbouring Redcliffe in Bristol city centre came second with sales up 93.2pc last year.
The surge in transaction levels was driven by a growing demand to live in Bristol, one of the UK’s leading tech scenes, a relatively large number of new-build developments and high use of the Government’s Help to Buy scheme. Read more here >>