RENTAL values are rising faster than underlying house prices in many of the world’s leading cities such as Paris and Hong Kong. An average rental growth of 2.3 per cent from June to December last year, as compared with just 1 per cent growth in capital values. Paris overtook London as the most expensive rental market, […]
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Resale market takes a dive after cooling measures
SALES of new homes might be defying gravity and shattering records, but the story is vastly different for home resales. Experts say both the resale of finished homes, and the quick resale – or subsale – of homes bought but not built yet, to earn easy profits, have taken a dive. They feel last December’s property cooling measures played […]
Tampines EC plot is choicest of the lot
An executive condo plot next to the Tampines Trilliant project has been tipped by property consultants as the choicest among four residential plots released under the Government Land Sales Programme yesterday. The four plots, including a reserve list site that will be made available for application later this month, can potentially generate an estimated 2,415 […]
Developers’ bids signal likely dip in home prices
DEVELOPERS here are becoming more cautious with how much money they are willing to pay for private home sites. They seem to be getting more worried that private home prices could fall, perhaps by up to 8 per cent this year, according to a new research report. So they have to factor the potentially lower […]
Landbanks ‘healthy’ despite strong sales
THE bumper supply ramp-up of new land sites has allowed developers to keep their landbanks stocked up in the face of roaring home sales. Most big-gun builders have thousands of units in their landbanks. A landbank comprises unsold units – including executive condominiums – from projects with planning approval and estimated units from sites that […]
Construction firm KTC launches maiden project
CONSTRUCTION company KTC Group has made a foray into the property development business with its first project, Summer Scent, located at the junction of Hougang Avenue 2 and Upper Serangoon Road. The freehold project, developed by KDC (Kovan) Development, comprises 16 units, of which six have been sold. KDC Development’s director, Chua Lai Seng, is […]
Latest Updates on Twin Waterfalls!
As 07 Mar 12, 460 units of 728 units are sold! Find out why 182 units of Twin Waterfalls set aside by developer Frasers Centrepoint for second-timers were snapped up in two hours! Click here. To know more about Twin Waterfalls / Site Plan of Twin Waterfalls, click here! Pls note that I am only […]
Top bid for Hillview Ave site beats expectations
An ‘overly optimistic’ top bid, a whopping 18.6 per cent higher than the next, was put forth by Kingsford Development for a 99-year residential site located along Hillview Avenue yesterday. Its bid of $243.2 million or $638 per square foot per plot ratio (psf ppr) for the 136,147 sq ft plot with a plot ratio […]
Second-time buyers get a better shot at EC units
Last Friday news that second-time buyers of public housing units would be given more chances to purchase executive condominium (EC) units; the previous 5 per cent limit increased to 30 per cent of units in ECs will now be set aside for this class of house hunters. ECs are sold by private developers with condominium-like […]
Help for HDB ‘second-timers’ to buy flats
AFTER easing the demand crunch among first-time Housing Board (HDB) flat applicants, the Government will now help ‘second-timers’ – a group that includes a large proportion of HDB upgraders. It will change the rules to significantly boost their chances of successfully balloting for a new Build-to-Order (BTO) flat or executive condominium (EC) unit. Announcing this […]
More incentives to live with or near parents
STRESSING the importance of family ties as the bedrock of a strong society, the Government yesterday rolled out two new initiatives to encourage married children to live with their parents or near them in housing estates. The first is to strengthen the Married Child Priority Scheme (MCPS) to give higher ballot chances to married children […]
CDL has faith in luxury property sector
(Another interesting headline. The reporter used the word “faith”, as if implying that CDL is not basing their optimism on facts.) Straits Times – 01 Mar 12 Summary: The subdued sentiment has forced CDL to halt marketing its premium project The Residences at W Singapore Sentosa Cove. (Forced? Developers are never forced to stop marketing […]
Development charges dip for non-landed residential use
Straits Times – 01 Mar 12 Summary: Charges that developers pay to enhance the use of a plot of land have finally been reduced or left flat for some sectors, as the slowing property market takes its toll (I think it’s more for the luxury prime areas, rather than the rest of Singapore.) The new […]
Condominium Review: Centro Residences
About this development: Tenure: 99 yr leasehold Developer: Far East Site Area: approximately 69,000sqft Location: Ang Mo Kio Ave 8 – just beside Ang Mo Kio Hub No. of levels: 34 storeys, with 2 towers No. of Units: 329 Pros: Excellent location – just next to Ang Mo Kio Hub (NTUC and many restaurants are […]
Launching Soon @ Bishan Central
One of the most exciting developments in the suburban areas is launching soon! Here are my personal opinions on why investors should consider this development: 1. Excellent connectivity in terms of public transportation. 2. Drivers would love this location due to its accessibility to all expressways e.g. CTE/PIE/KPE/SLE/TPE 3. Excellent Schools located within walking distance: […]
Latitude Condominium Just TOP!!!
Presenting A Quietly Luxurious and Generously Spacious Development in District 10 A Prestigious Development Exuding A Sense of Calmness and Serenity With Just The Right Touch of Elegance For more information about price, floor plans, and how you can own a unit here, click here OR Call Jarene Chuang @ (+65) 9431 4139
S’pore, US among top destinations for rich Chinese migrants – The Straits Times 4 Nov 11
About 60 percent of the rich Chinese people, each of whom has a net asset of at least 60 million yuan (S$12.12 million), said they intended to migrate from China, a report has found. About 14 per cent of them have either already migrated from China or have applied for migration. The three most favoured […]
Green Lodge put up for collective sale, EOI at Oxley – Business Times 3 Nov 11
Green Lodge, a freehold development located on Toh Tuck Road, has been put up for collective sale. Separately, an Expression of Interest (EOI) exercise was launched yesterday for 71 and 73 Oxley Rise, a freehold site zoned for ‘commercial and residential’ use. The Green Lodge site has an asking price that is above $195 million, […]
Punggol residential site draws top bid from Chinese firm – TODAY 4 Nov 11
A 99-YEAR-LEASEHOLD residential site at Punggol Central/Edgedale Plains drew a top bid of $215.87 million yesterday, or $330 per square foot per plot ratio (psf ppr). Chinese firm Qingjian Realty (South Pacific) Group trumped four other developers to put in the top bid for the site, which measures 218,034.6 sq ft and has a maximum […]
Home Sales Unlikely to beat last year’s high – The Straits Times, 1 Nov 11
Summary Strong economy first 9 months but global economic uncertainty to take toll Sales of new private homes may come close to last year’s record high, but they are unlikely to surpass the figure with global economic uncertainty affecting demand, experts say. Homes sales for the first 9 months of this year came in at […]
Laguna Park, Henry Park Apartments up for collective sale – Channel News Asia 31 Oct 11
Laguna Park at Marine Parade Road is up for collective sale with a reserve price of S$1.25 billion. Together with Henry Park Apartments, which is also up for collective sale at between S$170 million and S$180 million, the total value of properties that have come up for sale in October has hit close to S$5 […]
Buffet of New Homes – The Straits Times, 31 Oct 11
Summary A large supply of mass-market homes is set to enter the market by the end of this year. These 99-year leasehold projects are mostly from the flood of suburban state land released by the government over the last year as it attempted to cool robust home-buying demand from first-timers and upgraders. At least 5 […]
Summary of URA’s New Regulations on Singapore Property Market
The recent measures on 14 Jan 2011 imposed by the Singapore government had taken to ensure that the property market is sustainable has been pretty drastic. Check out the new regulations here. A Summary of URA’s regulations: 1. Holding Period for Seller’s Stamp Duties from 3 years to 4 years 2. Seller’s Stamp Duties imposed […]
Just one bid for Tampines condo site
Straits Times Aug 13, 2008 THE property slowdown was clear for all to see yesterday when the tender for a condo site overlooking Bedok Reservoir closed with just one bid – and at a price well below expectations. The Urban Redevelopment Authority (URA) will likely refuse to award the 3.2ha site, given the poor offer, […]
Challenges for property sector
New engines drive Singapore’s property market but pitfalls remain THE Singapore property market has weathered the storm from the US sub-prime crisis, soaring oil prices and overall inflation, pretty well. Runaway increases in property values in the high-end residential and prime office sectors seen in the past couple of years, for instance, have started to […]
Home, retail, office rental growth to ease
Business Times – 25 Mar 2008 Housing rentals to rise 5-15% year-on-year in 2008: Knight Frank PRIVATE housing rents are expected to grow at a slower pace this year than last year, Knight Frank said in a report yesterday. The property consultancy firm expects a year-on-year rise of 5-15 per cent in 2008 – after […]
PROPERTY: Muted market gives buyers more bargaining power
The Straits Times March 23, 2008 Prices aren’t tumbling but it’s a good time to get a unit at a reasonable price, say experts IT IS no secret that the residential property market is in a lacklustre mood. With many buyers and sellers having scurried to the sidelines as the United States sub-prime woes brought […]
Foreigners snap up homes as rents start to bite
Business Times – 12 Mar 2008Their purchases could account for half of 2007 transactions on the secondary market (SINGAPORE) A record number of foreigners here have opted to purchase homes instead of renting them at ever-climbing rates. According to an analysis of transactions of private residential properties by DTZ Debenham Tie Leung, foreigners bought 6,536 […]
Guocoland dives on options lapse
Business Times – 12 Mar 2008 Shares hit as Kuwaiti-linked fund pulls out of $815m property purchase SHARES of Guocoland fell victim yesterday to news that a fund company managed by Kuwait Finance House (Malaysia) Berhad (KFHMB) did not exercise options to buy $814.8 million worth of apartments in Guocoland’s upmarket project here. Following analysts’ […]
All eyes on govt land tenders this month
Business Times – 11 Mar 2008 $500m site above Serangoon MRT, 3 suburban housing plots on offer AMID the current quiet market, all eyes will be on four 99-year leasehold suburban Government Land Sale site tenders that close this month. They comprise three private residential sites including one for landed housing, and a ‘white’ site […]
Speculators holding out for higher prices
Subsale activity slows but transacted prices remain resilient (SINGAPORE) Property prices have been bolstered by speculators in the last year. But now that speculation is on the decline, could prices follow suit? An analysis by Savills Singapore of properties subsold last year after being bought from developers in the same year has revealed that while […]
UOL unit unveils luxury serviced suites in Somerset
IT HAS been 28 years since Singapore’s listed UOL Group launched its last serviced apartment property, the Parkroyal Residences at Beach Road. Now, it is entering the luxury extended-stay business with the launch of its new property, Pan Pacific Serviced Suites, at 96 Somerset Road. The new property is similar to serviced apartments but has […]
DC rate hike lower than expected
Average industrial rates up 16.8%, muted increases for most other uses THE government yesterday announced modest, lower-than-expected increases in development charge (DC) rates for most use groups, except industrial. ‘Limited transactions in the past six months, amidst cautionary sentiment set about the US sub-prime debacle, were probably an important factor for the moderate gains this […]
DC rate hike lower than expected
Average industrial rates up 16.8%, muted increases for most other uses THE government yesterday announced modest, lower-than-expected increases in development charge (DC) rates for most use groups, except industrial. ‘Limited transactions in the past six months, amidst cautionary sentiment set about the US sub-prime debacle, were probably an important factor for the moderate gains this […]
CDL able to weather uncertainty for next 3 yrs
It posts full-year profit of $725m; bottom line would be $2.8b if fair value gains included THE top brass at City Developments Ltd (CDL) yesterday said the property group has ‘the financial muscle to weather the current period of uncertainty even for the next three years’, after announcing a record full-year net profit of $725 […]
CDL boss punctures popular wisdom
Mid-market may not shine and high-end is unlikely to collapse, he says (SINGAPORE) City Developments Ltd (CDL) executive chairman Kwek Leng Beng yesterday turned a popular market view of the Singapore residential sector on its head. Many have whispered that the high-end residential segment is in danger of being hardest hit by the sub-prime crisis […]
Mass-market safe, high-end may take a hit
Property players sketch the best and worst-case scenarios for private homes in 2008 (SINGAPORE) Luxury-home prices could fall by up to 20 per cent in 2008, assuming sub-prime woes don’t end this year. But the mass market may hold its own or ease 5-10 per cent at most. This was the worst-case scenario according to […]
CapitaLand, HPL sue eight owners of Gillman Heights
Developers claim contract breach as owners seek ruling over validity of sale A GROUP of home owners in Gillman Heights Condominium are being sued by the estate’s buyers for alleged breach of contract. They face legal action by CapitaLand and Hotel Properties (HPL), which have agreed to buy the sprawling 607-unit estate in Alexandra Road. […]
Modest weekend sales at Waterfront Waves
IN A bellwether post-Budget property launch, Frasers Centrepoint and Far East Organization sold 20 units at the weekend at their Waterfront Waves condo fronting Bedok Reservoir. The project was officially launched at the weekend with the start of an advertising campaign. The sales brought the total sold so far at the 99-year leasehold project to […]
PROPERTY: Where to find homes at or below $600,000
They include executive condos as well as older private apartments in suburban locations THE property market has quietened considerably this year, but prices have yet to fall. Nevertheless, if you have a modest budget of about $600,000 for a home, your choices are not just confined to HDB flats. Some fairly new executive condominiums as […]
Demand for mass market projects shifts into higher gear
Story Print Friendly Page Developers not keen to release high-end projects in shaky market, say analysts DEVELOPERS’ housing sales figures for January reflect a change in strategy to focus more on mass market projects. Despite the still lacklustre figures for overall developer launches and sales last month, an analysis by Knight Frank shows the number […]
Revision of DC rates expected to be ‘moderate’
Consultants project smaller DC rate rise for residential and commercial use THE coming March 1 revision of development charge (DC) rates – payable to enhance the use of sites or build bigger projects on them – is generally expected to be more moderate than the past couple of revisions, which imposed steep rises. That’s because […]
Some small property launches but most still hold back
Developers selling projects abroad first before launching them in Singapore PROPERTY developers are starting to gingerly test the volatile market with a few launches now that the festive season is behind them. Those dipping their toes into the choppy waters, however, are mostly offering smaller projects away from the prime areas, said property agents. Home […]
Developer stocks may rise above flat property prices
Goldman says that physical market correction already priced in (SINGAPORE) Goldman Sachs predicts that private home prices will remain flat this year, but is sticking to its view that Singapore’s strong structural story is driving a sustainable multi-year residential upswing. The US bank does not expect a repeat of the mid-1996 (anti-speculation) regulatory measures that […]
Rising cost of going en bloc adds to cooler market
New rules bump up lawyers’ fees, draw out collective sale process by months GOING en bloc is now a more costly and time-consuming business for home owners because of a new set of stricter rules implemented last October. The rules – aimed at making the process more regulated and transparent – have bumped up the […]
Prime properties in for 5% fall in ’08: UBS
Bank expects modest 0-5% growth in mass and mid-tier segments ANALYSTS from Swiss bank UBS believe Singapore’s property market will ‘remain intact’, but they are nonetheless projecting a drop of 5 per cent in prime property prices for the year. In the more affordable mass and mid-tier segments, where prices increased at a slower pace, […]
Subsales may spike again as projects near completion
NEWS ANALYSIS Prices could soften if ‘specuvestors’ are forced to offload properties (SINGAPORE) Speculative activity took a breather in Q4 last year as the number of subsales as well as their share of total private home deals were down sharply from the preceding two quarters of 2007. However, many in the industry are wondering whether […]
Private homes losing speculative froth
Subsale activity slowed in Q4; rising rents defined 2007 (SINGAPORE) The level of speculative activity in the private property market, as measured by the extent of subsales, slowed considerably in Q4 last year, especially in the Core Central Region (CCR), according to the latest official data. Islandwide, subsales as a percentage of total private housing sales […]
Home prices on city fringe, suburbs still rising strongly
PRICE increases for high-end homes in the central areas may be easing, but not so for homes on the city fringe and suburban apartments – where prices are still rising strongly. Urban Redeveloment Authority figures showed growth in the prices of uncompleted apartments in the central areas slid from 7.8 per cent to 7.6 per […]
Growth in rents of private homes beginning to ease up
Jan 26, 2008 EXPATRIATES and other tenants in private apartments can finally start to breathe easier. Data from the Urban Redevelopment Authority released yesterday showed a subsiding of the sharp rise in rentals for condos in key areas. Rentals for non-landed property in the coveted core central region, which covers Tanglin and Bukit Timah, for […]
Regent Garden en bloc sale contested
(SINGAPORE) Allgreen Properties’ purchase of Regent Garden via a collective sale is now being contested by the majority sellers of the property, the company said in a filing to the Singapore Exchange yesterday. BT understands that the majority owners, who together own 25 of the 31 units and over 80 per cent of the share […]
Home prices stay firm even as property stocks retreat
Amid weak sentiment in a quiet market, many players are adopting a wait-and-see attitude SINGAPORE’S property stocks have been taking a hammering lately but the property market has so far remained unscathed. After riding the boom to dizzy heights, property counters have now dropped by up to 60 per cent or so from their high […]
Marina Bay Suites priced around $3,000 psf
Over 600 potential buyers, half foreigners, have registered interest to buy units in 221-unit project AT around $3,000 psf, the next luxury development to go on sale – Marina Bay Suites – looks like it could actually be quite reasonably priced, especially as luxury home prices have trended towards the $4,000 psf range. Revealing […]
For Sale!!! Enjoy Spacious Living in Tanjong Rhu!!!
Enjoy Spacious Living in Tanjong Rhu!!! Check out this extremely rare unit in Tanjong Rhu…. Introducing…. THE WATERSIDE – FREEHOLD … The ONE AND ONLY FREEHOLD in Tanjong Rhu Facing East Coast Park) – 2,142 sqft… The ONE AND ONLY FREEHOLD AND 2000+sqft in Tanjong Rhu Owner-Occupied Unit! The best thing? […]
INVESTOR’S CHOICE UNIT! 40 SECS to HOLLAND VILLAGE!!!
INVESTOR’S CHOICE UNIT!!! Check out this unit! The location is a no-brainer! Located just NEXT to Holland Village – you just need a 40 SECONDS STROLL! It’s so precious – Just beside the GOOD CLASS BUNGALOWS! And ONLY 85 units! To give you an idea of how quickly the unit is sold: […]
Telok Blangah, HarbourFront set to get more waterfront homes
But areas closest to Mt Faber unlikely to achieve much higher plot ratios: JLL (SINGAPORE) More waterfront homes, some tucked into the lower part of Mount Faber, could spring up in the Telok Blangah and HarbourFront precincts under Master Plan 2008, according to a recent study by Jones Lang LaSalle. The impetus for more intensive […]
Converting hotels into condos just got harder
Rules to ensure that sites zoned as hotels are not switched to other uses (SINGAPORE) Redevelopment plans involving the likes of Four Seasons Hotel along Orchard Boulevard and Negara on Claymore may have to go back to the drawing board after the government tightened hotel conversion rules yesterday. If the owners of these properties had […]
Govt to check hotel conversions islandwide
THE Government has made a key policy change regarding land set aside for hotels at a time of heightened concern over the supply of rooms during the tourism boom. It has discontinued the hotel safeguarding policy, so developers with land designated for hotels may find it harder to convert the site for other uses, such […]
Pearlbank Apartments up for collective sale at $750m
THE 38-year-old Pearlbank Apartments development at Pearl’s Hill has been put up for collective sale at an indicative price of $750 million. Marketing agent Knight Frank says that with a lease upgrading premium estimated at $143.3 million, the unit rate works out to be $1,456 per square foot per plot ratio (psf ppr), assuming the […]
High-density homes may complement Paya Lebar hub
Study says they may come up on sites that are currently industrial estates (SINGAPORE) The development of vacant state sites already zoned for commercial use immediately around Paya Lebar MRT Station will spearhead the transformation of the area into a commercial hub. More interestingly, however, high-density homes may also come up slightly further away on […]
YOUR PERSONAL ADVISER: FINANCE
How can landlord reclaim house when tenant fails to pay rent? Q MY FRIEND’S three-room terrace house in Singapore was rented out to a divorcee and her daughter. The tenant put down a total deposit of $1,200, consisting of one month’s rental of $1,000 and $200 for utility bills. The tenant last paid rent in […]
PROPERTY: Are condo-like HDB flats good value?
They might come with fancy trappings but can’t be bought and sold freely like private condos THE high-end HDB flats launched yesterday at Boon Keng are the talk of the town. Styled to look like private condominiums, the flats in City View @ Boon Keng will boast timber flooring and large bay windows, as well […]
HORIZON TOWERS COURT CASE: Minority owners want High Court to overturn STB decision
This again throws successful completion of en bloc sale in doubt (SINGAPORE) The Horizon Towers saga is far from over. In fact, it’s starting anew. Disgruntled minority owners have banded together to appeal against a decision by the Strata Titles Board (STB) last month to approve the enbloc sale of the development. All nine of […]
Circle Line key to higher plot ratios: JLL
Study looks at how Master Plan 2008 could change landscape, usher in new initiatives (SINGAPORE) When Master Plan 2008 is unveiled sometime this year, certain areas are likely to see an increase in plot ratios. A study by Jones Lang LaSalle has tried to zero in on which areas could be allowed more intensive use […]
Condo-like flats in Boon Keng going on sale
Hot demand expected for second lot of public housing offered by private developers A FLURRY of applications is expected for the latest batch of flats that look like condominiums but sell for just about two-thirds the price of condo units in the same area. The second batch of public housing being offered by private developers […]
Home prices feel pull of gravity after 31% rise
Q4 tempers spectacular growth of 2007; mass market may shine this year (SINGAPORE) Private home prices rose 31.0 per cent in 2007 – the biggest year-on-year jump since 1999 – despite a slowdown in the fourth quarter caused by the withdrawal of the Deferred Payment Scheme (DPS) and sub-prime woes, flash estimates show. HDB resale […]
High rentals don’t worry some MNCs
They are still expanding their premises: C&W report RISING office rents may have forced some businesses to adopt a wait-and-see approach on expansion here but others are expanding anyway. A report by Cushman & Wakefield (C&W) reveals that key leasing transactions in December 2007 include Swiss wealth manager Julius Baer taking up 26,000 sq ft […]
Back lane in Balestier up for sale
Other properties up for auction include Changi bungalow, studio apartment THE Official Receiver is auctioning off a back lane at Jalan Bunga Raya in the Balestier Road/Irrawaddy Road area. The freehold strip of land, with a land area of 3,331 sq ft, is behind a row of seven terrace houses which are part of a […]
Private home prices up 31% last year
But fourth-quarter figures show signs of slower growth; HDB resale prices up 17.4% HOME hunters can ring in the new year with some cheer – the roaring property market is finally showing signs of slowing. Prices of all categories of homes grew at a lower rate at the end of last year, after months […]
Strong showing in some suburban areas and projects
Bukit Batok home prices soar 43% but other districts drop as much as 20% PRIVATE homes in some suburban areas proved the most resilient amid a general slowing in price rises across the board, the latest government figures show. Some suburban areas performed very strongly, but others showed uneven price growth. Data from Savills Singapore […]
Second batch of condo-like flats to go on sale
A FLURRY of applications is expected for the latest batch of flats that look like condominiums but sell for just about two-thirds the price of condo units in the same area. The second batch of public housing being offered by private developers goes on sale on Saturday, one year after the first lot was launched […]
Private home sales inch up; prices remain firm
URA data shows 4,000 units in 70 developments with pre-requisites for sale as at end-Nov (SINGAPORE) The number of private homes sold by developers inched up 4.7 per cent to 593 units in November, up from 566 units in October. The Urban Redevelopment Authority (URA) also revealed monthly property market data of transacted benchmark prices […]
URA awards Boon Lay site to Frasers Centrepoint
THE Urban Redevelopment Authority (URA) yesterday awarded a residential site at Boon Lay to Frasers Centrepoint, which put in the higher bid of $205.6 million – or $248 per sq ft per plot ratio (psf ppr) – after the tender closed last week with just two bids. The weak response to the 99-year leasehold site […]
No takers for many collective sale sites as market cools
Quiet end to record year where $12.5b worth of estates were sold en bloc MOST collective sale sites put up for tender in recent weeks have closed without any bids. About 40 estates have been launched for sale since October, but just eight deals were sealed between October and last month, said property firm CB […]
New launches to slow till next year
With a still uncertain market, quiet times in property sector may continue till after Chinese New Year THE frantic property market is taking a breather, as buyers adopt a wait-and-see approach. Property launches have been scarce in the past month, and that will continue now that the holiday season is here. If you are one […]
High-end home launches to take a breather
The frenzy of 2007 is expected to give way to a more sedate pace, slower price rises (SINGAPORE) Launches of high-end homes are set to shrink in the coming year – even though developers will push more units across Singapore. The Core Central Region (CCR) – which comprises prime districts 9, 10 and 11, Sentosa […]
Sentosa Cove condo plot draws 3 bids
Tender for Boon Lay condo site attracts just 2 bids that are below expectations A TENDER for the last condo plot at Sentosa Cove – named The Pinnacle Collection – is said to have attracted three bids when it closed yesterday, including a joint bid by Ho Bee Investment and Malaysia’s IOI Group. The other […]
RESIDENTIAL PLOT: Boon Lay site draws lukewarm response
A WEAK response to a residential site tender at Lakeside has caught the industry by surprise – given that suburban centres have been touted as the next property hot zones. The 99-year leasehold site bounded by Boon Lay Way and Lakeside Drive had attracted only two bids by the time of the tender’s close yesterday, […]
Celebrity plans to open piano bar, reflexology business, offices
Jackie Chan pays $11m for Jinriksha Station at 1 Neil Road HONG KONG movie superstar Jackie Chan’s love affair with Singapore property continues with his latest purchase – the former Jinriksha Station at 1 Neil Road. He fell in love with the historic building – once the central depot for rickshaw drivers in Singapore – […]
Dubai World’s Limitless sets up office here
S’pore base will look for investments in the region DUBAI World’s real estate arm, Limitless LLC, officially started operations at it new regional office here at UOB Plaza yesterday. It will use Singapore as a base to look for new investment opportunities here and in the region. On route to Hanoi for the ground-breaking ceremony […]
Ascott signs India serviced residence JV
(SINGAPORE) The Ascott Group said yesterday that it has signed a joint venture agreement with the Rattha Group to acquire its fifth serviced residence in India. The 218-unit property, to be named Citadines Hyderabad Hitec City, is Ascott’s first serviced residence in Hyderabad. the group will pay about S$15 million for a 49 per cent […]
STB approves sale of Farrer Court
(SINGAPORE) The Strata Titles Board (STB) has given the go-ahead for the sale of Farrer Court to a CapitaLand-led consortium. At a price tag of $1.34 billion, it is the largest amount ever fetched for a collective sale. The approval was granted last Saturday. The consortium – comprising CapitaLand, Hotel Properties and US-based Wachovia Development […]
Rents for state-owned homes rise
(SINGAPORE) Now, you too can live like the colonial sahibs of old, as long as you are prepared to make the highest offer for monthly rental in an open bid. But be warned, rents of homes under the Singapore Land Authority’s (SLA) first bidding exercise held recently, increased by between 40 to 230 per cent […]
Ion Orchard plans to kick off ad campaign in Q108
(SINGAPORE) Ion Orchard intends to launch an advertising campaign to promote the mall in the first quarter of next year – almost a whole year before the Orchard Road mall opens its doors to shoppers in end-2008. For starters, the mall will run a print ad campaign in selected international publications such as the Wall […]
En bloc deals top $13b but pace is slowing
Sales in H2 account for only $2.8b as price gap between owners, developers surfaces (SINGAPORE) It was the best of times, it was the worst of times. With 82 en bloc deals worth $10.49 billion transacted in the first-half, and just 27 sites worth $2.81 billion transacted in the second-half so far, ‘2007 has been […]
Beach Road could be next prime hot spot
Set for a snazzy makeover, boasts a good mix of shophouses and strata-titled commercial and residential units on the market for the average investor FORGET the Central Business District. Property investors priced out of prime zones but still hunting for a good buy should look to downtown’s upcoming hot spot – the Beach Road, Ophir-Rochor […]
Want to rent this? Make a bid for it
New allocation system for select state-owned homes expected to cut long waiting lists RENTERS who have long hankered after that state-owned black-and-white colonial bungalow but are put off by the long waiting list can now bid for their dream home. State landlord Singapore Land Authority (SLA) said it is opening up its properties for bidding […]
Lippo’s Sentosa condo at about $2,750-2,900 psf
LIPPO Group is said to have priced its Marina Collection condo, a 99-year leasehold project on Sentosa Cove, at about $2,750-2,900 psf on average. Over the past few days, the group, controlled by Indonesia’s Riady family, is said to have sold about half of the 60 or so units it has released so far in […]
STB approves en bloc sale of Horizon Towers
But it may not spell end of saga as minority owners who oppose sale may still appeal (SINGAPORE) Almost a year of wrangling and millions of dollars in legal fees later, the controversial en bloc sale of Horizon Towers was eventually approved yesterday by the Strata Titles Board (STB). Still, the board’s verdict by no […]
Finally, Horizon Towers en bloc sale gets go-ahead
Strata Titles Board rejects objections from minority owners, who have a month to appeal AFTER months of sometimes bitter wrangling, the collective sale of Horizon Towers looks set to go ahead. The latest chapter of the saga drew to a close yesterday when the Strata Titles Board (STB) granted an order for the $500 million […]
Land sales programme for 1H08 draws good reviews
Large supply of mass market homes but govt holds back on office sites THE government will release a batch of suburban residential land parcels in the first half of next year but property analysts are divided as to whether there will be enough takers for the homes coming up on the sites. And on the […]
Govt’s slate of land sales seen as prudent
List for H1 next year is roughly similar in scale to that for H2 this year (SINGAPORE) The Ministry of National Development is adopting a measured strategy in its Government Land Sales (GLS) Programme, offering up a slate for the first-half of next year that’s roughly similar in scale to the offerings for H2 2007. […]
Property players likely to zoom in on central locations
Topping the list is multi-use ‘white site’ not far from Bugis MRT DEVELOPERS, and eventually homebuyers, can take their pick from 21 plots that the Government will release for private housing between now and June. Property players, however, are likely to zoom straight in on the handful of land parcels that are more centrally located, […]
More land for mass market private homes released
The 21 residential sites will help meet demand and avert sharp price increases PRIVATE home buyers look set to be spoilt for choice after the Government unveiled an expansive programme of land sales for the first half of next year. The big winners will be mass market buyers, who include home buyers upgrading from HDB […]
Hong Fok’s Orchard site plans
It plans to develop International Bldg site with $62m state plot it is buying HONG FOK Corporation yesterday gave a glimpse of its plans for a commercial development on the combined site of its International Building property at Orchard Road and an adjoining 9,023 square feet plot along Claymore Hill that it plans to buy […]
Sky@eleven will boost SPH earnings: Tony Tan
Analysts estimate project to yield up to $450m profit SINGAPORE Press Holdings is expecting a significant boost to its profits for this financial year and the next – from its Sky@eleven condominium project. In his speech at the media group’s annual general meeting yesterday, SPH chairman Tony Tan said: ‘On the property front, our launch […]
Simpler rules for deciding DC payment from Jan
URA will use only 2003 Master Plan to cap development baseline values RULES on whether proposed building works will have to pay a Development Charge are to be simplified. The DC, which can be payable when land is redeveloped more intensively, is at present calculated using baselines set in the 2003 Master Plan, or sometimes […]
URA ends suspense with award of Marina View site
MGPA’s bid is about half the price it paid for plot next door (SINGAPORE) The Urban Redevelopment Authority finally awarded Marina View Land Parcel B to Macquarie Global Property Advisors (MGPA) unit MGP Kimi Pte Ltd yesterday, about three weeks after the tender for the 99- year leasehold site closed. The longer-than-usual time to evaluate […]
China developer buys Sentosa Cove plot
Firm pays $216m, plans ultra-posh marina enclave with jumbo units A CHINA developer has ventured overseas for the first time and paid a higher-than-expected $216 million for a landed plot on Pearl Island in Sentosa Cove. The deal is another indication that, while Singapore developers are taking a cautious approach in the wake of the […]
South Beach project to cost $2.5b: CityDev
(SINGAPORE) City Developments’ upcoming mixed-use project along Beach Road will cost some $2.5 billion in all – including the land cost of some $1.69 billion – the company’s chairman Kwek Leng Beng said yesterday. Mr Kwek was speaking to reporters after signing the building agreement for the site. CityDev, together with its partners Istithmar (part […]
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