Singapore Real Estate

October non-landed home sales up 60% from a month ago

Developers in Singapore sold 546 private non-landed homes in October, which represented a 60 per cent rise from 341 in September, according to the Urban Redevelopment Authority (URA).

The launch of two projects during the last weekend of the month - Principal Garden at Prince Charles Crescent and Thomson Impressions at Lorong Puntong - gave the October sales tally a shot in the arm as they made up 35.3 per cent of the month's new sales.

Industrial property sector set to face glut: Savills

An oversupply of industrial property is looming, with about 40.4 million sq ft of factory and warehouse space set to be launched over the next few years, property consultancy Savills warned yesterday.

The influx will inevitably drag down prices, it said in a report.

There is a silver lining, however. The entry of innovative technology firms into Singapore will "refresh the industrial space" and eventually absorb the incoming supply of industrial property, said Savills Research senior director for Singapore Alan Cheong.

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Companies' Brief

Kwek Leng Joo is 'pioneer of green building practices'

Tributes have poured in for City Development (CDL) deputy chairman Kwek Leng Joo, who died of a heart attack yesterday.Mr Kwek, 62, was described as a "visionary" and a pioneer of green building practices in Singapore.

Kwek Leng Joo 'left a legacy of salutary achievements': SCCCI

Tributes are pouring in for the late billionaire-philanthropist Kwek Leng Joo, the deputy chairman of property giant City Developments Limited (CDL). He died on Monday (Nov 16) from a heart attack at the age of 62. The Singapore Chinese Chamber of Commerce and Industry (SCCCI) said it was deeply saddened to hear of its honorary president's departure. Mr Kwek was president of SCCCI for four terms from 1993 to 1997 and 2001 to 2005.

Kwek Leng Joo, 62, dies of heart attack

Kwek Leng Joo - businessman, property tycoon, environmentalist, keen lensman, and above all, philanthropist - died in his sleep on Monday morning from a sudden heart attack.

Global Economy & Global Real Estate

London mansion prices fall 11.5%; bubble may have burst

London's most expensive homes and apartments have slumped in value as the government's stamp duty sales tax damps demand. Prices of homes valued at £5 million (S$10.8 million) or more fell 11.5 per cent on a per square foot basis in the third quarter from a year earlier, according to Richard Barber, a director at broker WA Ellis LLP, a unit of Jones Lang LaSalle Inc. Sales volumes across all homes in the best parts of central London dropped 14 per cent in the period, the realtor said on Thursday.

Modi's measures help debt-laden property firms

India's biggest overhaul of rules for foreign investment in real estate since the industry began opening up a decade ago has come just in time for cash-strapped builders facing borrowing costs exceeding 20 per cent.

Prime Minister Narendra Modi scrapped approvals needed for overseas ownership of some projects and removed barriers to foreign direct investment (FDI) in construction among a slew of measures unveiled on Nov 10 to boost confidence in Asia's third-largest economy.

Japan relapses into recession in Q3 as business confidence drops

Japan’s economy contracted in the third quarter as business investment fell, confirming what many economists had predicted: The nation fell into its second recession since Prime Minister Shinzo Abe took office in December 2012. Gross domestic product declined an annualised 0.8 per cent in the three months ended September, following a revised 0.7 per cent drop in the second quarter, meeting the common definition of a recession. Economists had estimated a 0.2 per cent decline for the third quarter.

R&F Properties, Dalian Wanda seek Shanghai listings

Marriott buys Starwood for US$12.2 billion

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Here's How Today's Higher Home Prices Differ From Bubble Era

Canadian Home Sales Climb to Second-Highest in Six Years