Latest news with #PropertyGuru
CNA
a day ago
- Business
- CNA
CNA938 Rewind - Stock take today: S&P 500 rallies near record, tariff deadline extension
CNA938 Rewind - Big Shot: Halimah Yacob and life after presidency In the June edition of Big Shot, Andrea Heng and Hairianto Diman speak with former President Halimah Yacob, who's now Chancellor of Singapore University of Social Sciences, on her time as Singapore's head of state and life after presidency. 20 mins CNA938 Rewind - Stock take today: S&P 500 rallies near record, tariff deadline extension On the daily markets analysis on Open For Business, Andrea Heng and Hairianto Diman speak with Kingsley Jones, CIO, Jevons Global. 12 mins CNA938 Rewind - Is it time to lift the 15-month wait-out period for private home owners? National Development Minister Chee Hong Tat said recently that private property owners looking to buy a non-subsidised resale HDB flat may not need to wait till 2027 or 2028 for a review of the wait-out requirement. Andrea Heng and Hairianto Diman speak with Dr Lee Nai Jia, Head of Real Estate Intelligence at PropertyGuru, to find out if it's the right time to remove this temporary restriction. 10 mins CNA938 Rewind - TalkBack: Why does it seem challenging for Singapore football to hold on to a head coach? Tsutomu Ogura has resigned as head coach of the Singapore national football team due to personal reasons. This leaves Singapore looking for its fourth national coach in six years. Lance Alexander and Daniel Martin speak with Yazeen Buhari, FIFA consultant and former General Secretary of the Football Association of Singapore. 28 mins
CNA
a day ago
- Business
- CNA
CNA938 Rewind - Is it time to lift the 15-month wait-out period for private home owners?
CNA938 Rewind Play National Development Minister Chee Hong Tat said recently that private property owners looking to buy a non-subsidised resale HDB flat may not need to wait till 2027 or 2028 for a review of the wait-out requirement. Andrea Heng and Hairianto Diman speak with Dr Lee Nai Jia, Head of Real Estate Intelligence at PropertyGuru, to find out if it's the right time to remove this temporary restriction.
Business Times
2 days ago
- Business
- Business Times
Johor's billion-ringgit property market braces for higher foreign buyer tax
[KUALA LUMPUR] Johor's property market is recording a spike in activity as foreign buyers scramble to close deals just weeks before a planned hike in levies kicks in. The short notice given for the hike, announced on Jun 18, has sparked some disgruntlement, especially among Singaporean investors who say they have been left with little time to make big-ticket decisions. Veteran agent Matt Tian from PropNex Malaysia said his team has fielded numerous complaints from potential buyers, particularly Singaporeans, who are upset with the short notice. 'Many feel forced into making quick decisions or face higher costs,' he said. 'We have also heard concerns from buyers in Taiwan, China and Indonesia.' Effective Jul 1, Johor will raise the levy on foreign property purchases to 3 per cent or a minimum of RM30,000 (S$9,060), up from 2 per cent or RM20,000. The new rates will not apply to sale-and-purchase agreements signed before the deadline. While some buyers are adopting a wait-and-see stance, real estate professionals say interest in Johor remains resilient. Tian noted that even with the higher levy, Johor properties still offer better value than those in the Klang Valley, Penang or the buyers' home countries. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up For comparison, a two-bedroom, two-bathroom condominium near the Johor Bahru Custom, Immigration and Quarantine complex is priced at around RM750,000 or RM884 per sq foot (psf). A similar unit in central Kuala Lumpur near the Petronas Twin Towers is being listed at RM1.45 million or RM1,272 psf, according to PropertyGuru. Other industry stakeholders also believe that the higher levy will not deter foreign interest, given the anticipated economic boost from the Johor-Singapore Special Economic Zone (JS-SEZ). Lindy Tan, who chairs the Real Estate and Housing Developers' Association (Rehda) Johor, said developers are already fielding heightened interest from buyers looking to beat the July deadline. 'Many have expressed their intention to finalise deals quickly, though it's too early to quantify,' she told The Business Times. She added that this could pull forward demand and slow sales in the following quarter. Tick tock on the levy clock Announcing the changes on Jun 18, Johor Chief Minister Onn Hafiz Ghazi said this marks the first levy revision since 2004 and it is aimed to offset rising operational costs and improve service delivery for investors and the public. The proposal also raises land transfer registration fees for properties priced above RM500,000, with an extra RM500 charged for every RM100,000 thereafter. This measure also includes industrial property purchases by foreign buyers or companies. For example, a RM1.5 million property would now incur a RM45,000 foreign buyer levy and a RM5,000 registration fee. This brings total transaction costs to RM50,000, up from RM30,000 previously. Effective July 1, the levy on industrial properties will also double from 2 to 4 per cent, on top of the existing 4 per cent stamp duty. Once home to Malaysia's highest number of overhang properties, Johor has seen improvement since the resuming of cross-border travel with Singapore in 2022 after the Covid-19 restrictions were lifted. In Q1 2025, the state recorded 3,034 overhang units – down from Kuala Lumpur's 3,668 units. In 2022, Johor led the nation with 5,992 overhang units. Johor recorded 15,094 property transactions worth over RM11.1 billion in the first quarter of 2025, down from 18,106 transactions and RM14.6 billion in Q4 2024. This marks a 17 per cent drop in transaction volume and a 24 per cent decline in value. Residential properties made up the bulk of activity, accounting for 64 per cent or 9,646 transactions worth over RM5 billion. Commercial deals comprised 15 per cent, with a total value of around RM2.2 billion. Catalysts The RTS is seen as a major game changer for Johor's cross-border appeal. PHOTO: BT FILE Investor optimism has been buoyed by the progress of the JS-SEZ and the ongoing construction of the Johor Bahru–Singapore Rapid Transit System (RTS), set to begin operations by December 2026. The 4 km high-volume shuttle will transport up to 10,000 passengers per hour in each direction between Bukit Chagar in Johor and Woodlands North in Singapore. The Causeway – among the world's busiest land border crossings – currently sees about 350,000 daily commuters, often with hours-long wait times. The RTS is seen as a major game changer for Johor's cross-border appeal. 'Properties near the RTS station are selling like hotcakes,' said Samuel Tan, founder and CEO of Olive Tree Property Consultants. 'Prices have surged from RM800 to RM1,200 per square feet (psf), and commercial land prices have more than doubled from RM700 to around RM1,500 psf.' Industrial property demand is also rising. Rehda's Lindy Tan said areas such as Senai, Kulai and Sedenak are attracting investor attention, supported by the JS-SEZ. Senai and Kulai are well-known logistics hubs in Johor due to their proximity to Senai International Airport, while Sedenak has emerged as a popular destination for data centres, attracting several multinational corporations such as Yondr Group, Keppel, and ByteDance's Bridge Data Centres. From January to March 2025, Johor concluded 353 industrial property deals worth RM1.9 billion. For the full year 2024, the state recorded 1,592 such transactions valued at over RM6.6 billion. Spanning over 3,500 sq metre – nearly four times the size of Singapore – the JS-SEZ targets 11 key sectors including manufacturing, logistics and energy. Plans are underway to expand 50 projects in five years and 100 within a decade, potentially creating 20,000 skilled jobs. On June 23, Onn Hafiz said Johor aims to attract RM100 billion in investments by end-2025, having already secured RM30.1 billion in the first quarter alone. The Causeway, among the world's busiest land border crossings, currently sees about 350,000 daily commuters, often with hours-long wait times. PHOTO: BT FILE Tian noted that the RTS appeals to Malaysians working in Singapore and to Singaporeans seeking a more affordable and laid-back lifestyle. Samuel Tan added that other catalytic projects, including the electrified double-tracking rail, Forest City's Special Financial Zone, and a potential revival of the Kuala Lumpur-Singapore High-Speed Rail, are also driving optimism. 'Johor's property market is at a pivotal point,' he said. 'Any increase in fees, especially targeting foreign investors, must be handled with care.' Samuel Tan urged the state to consider delaying the levy implementation until the JS-SEZ and Forest City Special Financial Zone gain more traction. 'To increase a higher tax rate and additional charges in such as a short notice, may give the impression that the authorities are cashing in on improving sentiment,' he said. 'Instead of front-loading the cost burden, the state can generate revenue through property taxes and quit rent, while welcoming job-creating investments,' Tan said. 'The timing and scale of the hike need a serious rethink.'
Zawya
04-06-2025
- Business
- Zawya
Global Investors Eye Bangkok's Rarest Luxury Wellness Penthouses at Award-Winning ROMM Convent
Multi-Award Winning Development Captures International Attention with 2-Star Fitwel Certification, Asia Pacific Property Awards, and PropertyGuru Excellence Recognition BANGKOK, THAILAND - Media OUtReach Newswire - 4 June 2025 - Proud Real Estate has unveiled an extraordinary investment opportunity at ROMM Convent —Bangkok's premier wellness-integrated residence in the prestigious Sathorn-Silom CBD. The only two duplex sky penthouses available, representing the pinnacle of luxury wellness living in Southeast Asia, are now available to discerning global investors. These architectural masterpieces have captured international attention, with ROMM Convent receiving multiple prestigious accolades including Best Condo Development and Best Architectural Design at the Asia Pacific Property Awards, Best Wellness Residences Development from PropertyGuru, and a coveted 2-Star Fitwel Built Certification—a global standard in wellness design excellence. Investors are drawn by proven returns, with rental yields of 4–5.8% per annum and capital gains averaging 3–5.4% annually. Amid a climate of accelerating international demand, ROMM Convent stands out as both a secure asset and an aspirational lifestyle investment—offering exceptional value in one of Southeast Asia's fastest-growing real estate markets. Bangkok's Luxury Market: A Magnet for Global Capital Bangkok continues to command the interest of investors worldwide, with the luxury condominium segment outpacing regional peers and anticipated to achieve sustained annual growth of 3–5% through 2027. In 2024 alone, international buyers accounted for 39% of total sales value, with large-format residences over 150 sq.m. in prime central locations witnessing robust absorption. The Silom–Sathorn district is in the midst of a transformation, with over THB 600 billion in public and private investment projected through 2035. This surge of mega-projects is redefining the urban landscape, creating new opportunities for capital appreciation and rental demand—particularly as Bangkok's tourism sector continues its strong recovery. ROMM Convent: A Sanctuary for Global Citizens Strategically positioned for expatriates, professionals, digital nomads, and retirees, ROMM Convent offers unrivaled access to both tradition and modernity. Residents enjoy proximity to Bangkok's leading international schools—including St. Andrews Sathorn, Shrewsbury International, and King's College—as well as world-class medical centers such as BNH Hospital, MedPark, and King Chulalongkorn Memorial Hospital. With average rental rates of THB 800–1,200 per sq.m. per month, the area delivers healthy yields of 4–5.8% per year and robust capital gains of approximately 3–5.4% annually, underpinned by consistently high tenant demand. The Pinnacle of Wellness-Integrated Living The Duplex Sky Penthouses at ROMM Convent are a masterclass in architectural innovation and holistic well-being. Each residence spans 418.61–467.86 sq.m., offering house-like layouts with soaring 6.45-meter ceilings and panoramic skyline views, including Bangkok's most iconic landmarks. Private rooftop gardens create a tranquil green haven, seamlessly visible from both living and bedroom spaces. Exceptional Features Include: • Ultra-Exclusive Ownership: Only two duplex penthouses available. • House-Like Living: Two-story layout located in the heart of Bangkok's CBD • Skyline Views: Panoramic vistas in three directions, including iconic landmarks like MahaNakhon and One Bangkok • Private Rooftop Garden: A serene green escape visible from the main living and bedrooms • Signature Design Elements: Full-height glass, custom wellness detailing, and a serene rooftop retreat. • Gourmet Entertaining: Ice Jade kitchen island, Gorenje ORA ITO appliances, and a 46-bottle wine cellar. • Sophisticated Finishes: Engineered walnut floors, stone-clad kitchens, premium fixtures, and bespoke cabinetry. • Grand Proportions: Four bedrooms, five bathrooms, powder room, and a flexible multi-purpose space. Wellness Technology & Privileged Services: • 2-Star Fitwel Certified Wellness: Recognized global standards in health-optimized living. • 24/7 Health Butler Concierge: Personalized healthcare coordination and support. • Six Levels of Wellness Amenities: Thoughtfully curated for holistic mind-body well-being. • Smart Home Ecosystem: Advanced technology for air quality, energy efficiency, and comfort. • Exclusive Healthcare Partnerships: VVIP privileges with BNH Hospital and BeDee by BDMS. Unmatched Value in Bangkok's Central Business District Starting at just THB 290,000 per sq.m., ROMM Convent's Duplex Sky Penthouses represent one of the most compelling luxury investments in the Sathorn district—delivering exceptional value compared to global property capitals. Ownership is further enhanced by immediate access to VVIP medical privileges at BNH Hospital including special discounts and personalized care from Thailand's top-tier medical professionals—, ensuring both peace of mind and premier healthcare for residents and their families. Limited International Allocation: Secure Your Early Investor Advantage As foreign ownership quotas rapidly reach capacity, Proud Real Estate is pleased to offer the exclusive Early Investor Package (available until June 30, 2025). This limited-time opportunity includes bespoke layout customization and privileged access to tailored services—making now the optimal moment for international investors to secure their stake in one of Bangkok's most rarefied addresses. Invest in an Iconic Lifestyle at ROMM Convent – Where Wellness Meets Luxury Seize the opportunity to own one of the last two Duplex Sky Penthouses at ROMM Convent, where visionary design, holistic wellness, and world-class investment potential converge. Availability is strictly limited—act now to elevate your lifestyle and portfolio with Bangkok's most coveted luxury residence. For more information and personalized assistance, please visit Proud Real Estate or call +662-026-8999. Note: This press release contains forward-looking statements about market performance and investment returns. Actual results may vary. Investors should conduct their own due diligence before making investment decisions. Hashtag: #ProudRealestate #AllisWell #RommConvent #LuxuryWellnessResidences #CondoSathorn #CondoHighRise #Condo #Bangkok #CBD The issuer is solely responsible for the content of this announcement. PROUD REAL ESTATE PUBLIC COMPANY LIMITED Proud Real Estate is Thailand's leading luxury wellness-focused property developer, renowned for creating holistic living environments that seamlessly integrate health optimization, sustainability, and timeless design. With a portfolio of internationally awarded projects, Proud Real Estate consistently delivers above-market investment returns while setting new benchmarks in luxury and resident well-being. The company gained global recognition for the development of InterContinental Residences Hua Hin, one of only eight world-class branded residences under the InterContinental name—further solidifying Proud's reputation for excellence in luxury real estate. Proud Real Estate PLC
Malay Mail
04-06-2025
- Business
- Malay Mail
Global Investors Eye Bangkok's Rarest Luxury Wellness Penthouses at Award-Winning ROMM Convent
Multi-Award Winning Development Captures International Attention with 2-Star Fitwel Certification, Asia Pacific Property Awards, and PropertyGuru Excellence Recognition ROMM CONVENT - Duplex Sky Penthouse • Ultra-Exclusive Ownership: Only two duplex penthouses available. • House-Like Living: Two-story layout located in the heart of Bangkok's CBD • Skyline Views: Panoramic vistas in three directions, including iconic landmarks like MahaNakhon and One Bangkok • Private Rooftop Garden: A serene green escape visible from the main living and bedrooms • Signature Design Elements: Full-height glass, custom wellness detailing, and a serene rooftop retreat. • Gourmet Entertaining: Ice Jade kitchen island, Gorenje ORA ITO appliances, and a 46-bottle wine cellar. • Sophisticated Finishes: Engineered walnut floors, stone-clad kitchens, premium fixtures, and bespoke cabinetry. • Grand Proportions: Four bedrooms, five bathrooms, powder room, and a flexible multi-purpose space. Wellness Technology & Privileged Services: • 2-Star Fitwel Certified Wellness: Recognized global standards in health-optimized living. • 24/7 Health Butler Concierge: Personalized healthcare coordination and support. • Six Levels of Wellness Amenities: Thoughtfully curated for holistic mind-body well-being. • Smart Home Ecosystem: Advanced technology for air quality, energy efficiency, and comfort. Unmatched Value in Bangkok's Central Business District Starting at just THB 290,000 per sq.m., ROMM Convent's Duplex Sky Penthouses represent one of the most compelling luxury investments in the Sathorn district—delivering exceptional value compared to global property capitals. Ownership is further enhanced by immediate access to VVIP medical privileges at BNH Hospital including special discounts and personalized care from Thailand's top-tier medical professionals—, ensuring both peace of mind and premier healthcare for residents and their families. Limited International Allocation: Secure Your Early Investor Advantage As foreign ownership quotas rapidly reach capacity, Proud Real Estate is pleased to offer the exclusive Early Investor Package (available until June 30, 2025). This limited-time opportunity includes bespoke layout customization and privileged access to tailored services—making now the optimal moment for international investors to secure their stake in one of Bangkok's most rarefied addresses. Invest in an Iconic Lifestyle at ROMM Convent – Where Wellness Meets Luxury Seize the opportunity to own one of the last two Duplex Sky Penthouses at ROMM Convent, where visionary design, holistic wellness, and world-class investment potential converge. Availability is strictly limited—act now to elevate your lifestyle and portfolio with Bangkok's most coveted luxury residence. For more information and personalized assistance, please visit Proud Real Estate or call +662-026-8999. Note: This press release contains forward-looking statements about market performance and investment returns. Actual results may vary. Investors should conduct their own due diligence before making investment decisions. • Exclusive Healthcare Partnerships: VVIP privileges with BNH Hospital and BeDee by at just., ROMM Convent's Duplex Sky Penthouses represent one of the most compelling luxury investments in the Sathorn district—delivering exceptional value compared to global property capitals. Ownership is further enhanced by immediate access to VVIP medical privileges at BNH Hospital including special discounts and personalized care from Thailand's top-tier medical professionals—, ensuring both peace of mind and premier healthcare for residents and their foreign ownership quotas rapidly reach capacity, Proud Real Estate is pleased to offer the exclusive Early Investor Package (available until June 30, 2025). This limited-time opportunity includes bespoke layout customization and privileged access to tailored services—making now the optimal moment for international investors to secure their stake in one of Bangkok's most rarefied the opportunity to own one of the last two Duplex Sky Penthouses at ROMM Convent, where visionary design, holistic wellness, and world-class investment potential converge. Availability is strictly limited—act now to elevate your lifestyle and portfolio with Bangkok's most coveted luxury residence. BANGKOK, THAILAND - Media OUtReach Newswire - 4 June 2025 - Proud Real Estate has unveiled an extraordinary investment opportunity at ROMM Convent —Bangkok's premier wellness-integrated residence in the prestigious Sathorn-Silom CBD. The only two duplex sky penthouses available, representing the pinnacle of luxury wellness living in Southeast Asia, are now available to discerning global architectural masterpieces have captured international attention, with ROMM Convent receiving multiple prestigious accolades including Best Condo Development and Best Architectural Design at the Asia Pacific Property Awards, Best Wellness Residences Development from PropertyGuru, and a coveted 2-Star Fitwel Built Certification—a global standard in wellness design are drawn by proven returns, with rental yields of 4–5.8% per annum and capital gains averaging 3–5.4% annually. Amid a climate of accelerating international demand, ROMM Convent stands out as both a secure asset and an aspirational lifestyle investment—offering exceptional value in one of Southeast Asia's fastest-growing real estate continues to command the interest of investors worldwide, with the luxury condominium segment outpacing regional peers and anticipated to achieve sustained annual growth of 3–5% through 2027. In 2024 alone, international buyers accounted for 39% of total sales value, with large-format residences over 150 sq.m. in prime central locations witnessing robust Silom–Sathorn district is in the midst of a transformation, with over THB 600 billion in public and private investment projected through 2035. This surge of mega-projects is redefining the urban landscape, creating new opportunities for capital appreciation and rental demand—particularly as Bangkok's tourism sector continues its strong positioned for expatriates, professionals, digital nomads, and retirees, ROMM Convent offers unrivaled access to both tradition and modernity. Residents enjoy proximity to Bangkok's leading international schools—including St. Andrews Sathorn, Shrewsbury International, and King's College—as well as world-class medical centers such as BNH Hospital, MedPark, and King Chulalongkorn Memorial Hospital. With average rental rates of THB 800–1,200 per sq.m. per month, the area delivers healthy yields of 4–5.8% per year and robust capital gains of approximately 3–5.4% annually, underpinned by consistently high tenant demand. The Duplex Sky Penthouses at ROMM Convent are a masterclass in architectural innovation and holistic well-being. Each residence spans 418.61–467.86 sq.m., offering house-like layouts with soaring 6.45-meter ceilings and panoramic skyline views, including Bangkok's most iconic landmarks. Private rooftop gardens create a tranquil green haven, seamlessly visible from both living and bedroom #ProudRealestate #AllisWell #RommConvent #LuxuryWellnessResidences #CondoSathorn #CondoHighRise #Condo #Bangkok #CBD The issuer is solely responsible for the content of this announcement. PROUD REAL ESTATE PUBLIC COMPANY LIMITED Proud Real Estate is Thailand's leading luxury wellness-focused property developer, renowned for creating holistic living environments that seamlessly integrate health optimization, sustainability, and timeless design. With a portfolio of internationally awarded projects, Proud Real Estate consistently delivers above-market investment returns while setting new benchmarks in luxury and resident well-being. The company gained global recognition for the development of InterContinental Residences Hua Hin, one of only eight world-class branded residences under the InterContinental name—further solidifying Proud's reputation for excellence in luxury real estate.
