Daily Briefing: Singaporeans turn backs on Aussie, UK property; 5000 EC units to launch in 2015

And Far East to develop UK student housing.

The number of overseas property launches in Singapore fell to 78 projects in Q1 2015 from 103 during the same period last year, revealed property consultants and reported in the media. View more here.

Around 5,000 executive condominium (EC) units may be launched this year from up to eight new projects, exacerbating the build-up of unsold inventory, revealed media reports quoting consultants. View more here.

Far East Orchard (FEOrchard), the listed arm of Far East Organization, is expanding its property development business beyond Singapore with the acquisition of four student accommodation properties within Shieldfield, Newcastle upon Tyne in the UK for 40.9 million. View more here.