Billionaire Bhupendra Kumar Modi, who made his fortune from mobile-phone services in India, is planning to invest US$100 million ($142.5 million) in distressed assets including the island resorts on Batam and Bintan neighboring Singapore. Modi, chairman of Singapore-based Spice Global with interests from telecommunications to financial services, said he is in talks to buy stakes in all the resorts on the...
Property Investment
Property consultancy Colliers International said the Singapore investment sales market experienced a surge of activity in the second quarter this year. Both the private and public sectors garnered investment sales transactions totalling S$1.35 billion from April to June, nearly four times higher than the previous quarter. Colliers said the renewed buzz in the investment market was supported mainly by...
The property rush continues to grab the headlines with queues at new launches and crowds at show flats. Perhaps a sobering reminder would be the still declining prices based on the Urban Development Authority’s (URA) flash estimates released earlier this Wednesday. The price index for private residential property is still falling, albeit at a slower rate. Overall residential prices fell by 5.9% in 2Q09...
Bargain-hunting now comes with probability that prices could fall further PRIME properties in key cities such as London and New York have long been out of the price reach of most Singaporeans. However, the slide in prices and currencies caused by the global financial crisis has made such markets much more affordable for those who dare. Particularly attractive to potential Singapore investors are the...
OF LATE, relatives and friends looking into investing in property have found the process very difficult, with the Inland Revenue Authority Of Singapore (Iras) asking for details pertaining to their property transactions. These investigations are highly detailed and intrusive; tend to drag on for months and may even involve face-to-face meetings with a panel of senior tax officials. Iras typically takes...
JLL says yes; other property pundits not so sure THANKS in part to falling interest rates, the affordability for luxury homes in Singapore has improved by 24 per cent since the third quarter of last year, according to property consultancy Jones Lang LaSalle (JLL). JLL compiles an affordability index for private homes, which takes into account factors such as property prices, national wages and interest...
The fallout from the US sub-prime crisis has filtered down to the property market in Singapore. Property consultancy CB Richard Ellis (CBRE) says total investment sales in Singapore properties fell 70 per cent from 2007, to S$17.83 billion this year. CBRE says one year on, the crisis in the US has made investors of Singapore properties more cautious. But the sharp slowdown in transaction volumes was...
Tokyo has been ranked as the top property investment city in the Asia-Pacific, according to a survey by Washington-based Urban Land Institute and PricewaterhouseCoopers. But while investors see plenty of opportunities in the regional property sector, financing may prove to be a key challenge in the coming year. Together with Tokyo, Singapore, Hong Kong, Bangalore and Shanghai round up the list for the...
Averic sets out to challenge biggest player in the foreign worker segment TRUST a few good businessmen to sniff out money-spinning opportunities. On the one hand there is Singapore's heavy reliance on foreign workers, and then there is the reluctance of part of the population to share their living environment, as seen with the recent furore in Serangoon Garden estate. But for some this is not so much a...
Singapore REITs have been massively sold off since the start of the year - down some 36 per cent on average to date. This is in line with property developers, whose stocks have fallen some 44 per cent since January. In comparison the STI is only down about 24 per cent. But analysts say REITs may be a good defensive play in the current turbulent climate. Property prices and rental costs have been on the...