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Written by Administrator
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Thursday, 02 September 2010 22:57 |
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WITH Savills Singapore managing director Michael Ng headed for Singapore Land (SingLand) and its parent United Industrial Corporation (UIC) on Oct 1, his current job at Savills will be assumed by the property consultancy group's Southeast Asia CEO, Chris Marriott.
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| Business as usual: 'I'm confident there will be no disruption to our existing business,' says Mr Marriott (left), who will assume Mr Ng's (right) job |
Two directors at the Singapore office have also been promoted to executive director from Sept 1 - Steven Ming, who heads investment and prestige homes, and Phylicia Ang, who is head of residential sales.
They will join Jessie Yeo, head of valuation, and research and consultancy, who is already an executive director. 'The four of us will together form the senior leadership team at Savills Singapore,' Mr Marriott said in a recent telephone interview with BT.
'I've inherited a strong team and I have worked with all these people for a number of years. I'm confident there will be no disruption to our existing business,' he said.
The 45-year-old, who has been with the group for more than 15 years, has been shuttling between Hong Kong and Singapore since 2004 but recently settled here permanently.
Savills' Southeast Asia hub is run from Singapore. Hong Kong is the headquarters of Savills Asia Pacific, where Mr Marriott is on the board. At the beginning of 2010, he was named...
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Written by Administrator
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Thursday, 02 September 2010 22:53 |
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 SINGAPORE: The recent changes to dual home ownership aimed at cooling the sizzling property market have left some owners in a bind.
From 30 August, private property owners who want to buy a flat from the Housing and Development Board (HDB) would have to sell their private property within six months.
The regulation also applies to those who own property outside of Singapore.
For some, owning two properties is a retirement strategy - one to live in, and the other for rental income.
42-year-old "Denise" - not her real name - who currently lives in a condo was hoping to do just that.
In late July, the single mother of two who asked to remain anonymous started the process to buy a 3-room resale HDB flat.
She had exercised her option to purchase a flat on the...
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Written by Administrator
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Monday, 30 August 2010 20:07 |
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 SINGAPORE: The government on Monday introduced more measures to cool the buoyant property market.
These include raising the holding period for which a home seller must pay a stamp duty and reducing the maximum bank loan amount for existing home owners who want to buy another property.
The measures, which take immediate effect, came as a strong economy and low borrowing rates have continued to push property prices up, sparking concerns of a property bubble.
Private property prices shot up by some 11 per cent in the first half of this year and have now exceeded the previous peak in 1996.
National Development Minister Mah Bow Tan said prices are "on the high side".
He said: "If the current momentum in the market continues, what will likely happen is that...
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Written by Administrator
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Monday, 30 August 2010 20:05 |
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 SINGAPORE: The Housing and Development Board (HDB) will increase the Minimum Occupation Period (MOP) of non-subsidised flats from three to five years.
It said this will reinforce the message that flats are meant for long-term occupation and dampen demand from those who are not in urgent need of housing.
Buyers of these flats will also be banned from concurrently owning both an HDB flat and a private residential property within the MOP.
Private property owners who buy a resale HDB flat must now dispose of their private residential property within six months from the date of flat purchase.
HDB said this will help ensure buyers purchase flats only when they have the intent of staying in it for long term and ensure equitable treatment for all flat lessees during their MOP.
Ownership of private properties by...
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Written by Administrator
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Thursday, 26 August 2010 02:01 |
DTZ report shows mainland Chinese buyers closing in on Indonesians
By UMA SHANKARI
MORE private home buyers are paying more than $1 million apiece for a property as prices climbed in the past year, a new report from DTZ shows.
The consultancy's Q2 2010 residential report also said that the share of transactions involving purchasers with HDB addresses has stabilised at around the 34-36 per cent mark in the last three quarters - despite the increase in prices - as these buyers are now supported by the rising HDB resale prices.
And among non-Singaporeans, buyers from mainland China are closing in on Indonesians as the second largest group of non-Singaporean purchasers.
Buyers from Malaysia still made up the largest group of foreign buyers in Q2.
DTZ's report is based on caveats lodged on private home transactions in the primary and secondary markets.
As of August 17, 9,437 caveats were available for analysis.
Buying sentiment cooled in...
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Last Updated on Thursday, 26 August 2010 02:07 |
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