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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 […]

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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 […]

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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 […]

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Landed housing plot draws top bid of just $77.80 psf

Business Times – 12 Mar 2008 Only one other offer made; poor show seen as sign of uncertain market IN what is seen as a sign of an uncertain property market, a landed housing parcel in Jurong West drew only two bids, and a low top bid of $11.8 million – or just $77.80 per […]

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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 […]

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Mixed landed housing site for sale

CHESTNUT VILLE (I and II), a mixed landed site at Dairy Farm Crescent, has been put up for collective sale and the indicative price for the combined plot is $90 million. This represents a land price of $741 psf over the land area, inclusive of an estimated $1 million development charge. The development currently comprises […]

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More landed housing sites up for auction

THE Urban Redevelopment Authority (URA) has launched the second phase of Sembawang Greenvale after auctioning all parcels in Phase One last October. In the first phase, 12 sub-divided landed housing plots near Sembawang Beach were auctioned for a total of $37.09 million, which works out to about $285 per square foot (psf) of land on […]

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2 good class bungalows on Leedon Road up for sale

A PAIR of recently completed Good Class Bungalows at 37 and 39 Leedon Road are being launched by their developer George Lim. His asking price is about $35 million for each bungalow. The plots’ land areas are 22,000 square feet and 21,000 sq ft respectively. Each five-bedroom, two-storey freehold house has a basement garage for […]

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More colonial bungalows up for rent

Demand for these state-owned buildings is strong due to relatively low rentals ANYONE with a hankering for a home with lots of nature and space, and does not mind living some distance from town might want to take note. The Singapore Land Authority (SLA) will be leasing out four of these colonial bungalows this month, […]

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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 […]

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Freehold GCB site off Holland Road on sale for $41m

A FREEHOLD good class bungalow (GCB) development site at 11 Ford Avenue has been put up for sale and the indicative price is $41 million. This works out to about $893 per square foot for the 45,894 square feet site which is off Holland Road. A single-storey bungalow currently sits on the site, which is […]

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PROPERTY: Demand for bungalow sites expected to rise

Landed home prices likely to continue last year’s surge and jump by up to 15% this year, say analysts PROPERTY analysts believe this will be the year for mid- and mass-market properties to shine – but they say demand for landed homes should also remain favourable. They expect prices of landed homes to climb by […]

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Two residential sites off Mandai Rd up for auction

PROPERTY firm Colliers International yesterday announced the auction of two residential sites off Mandai Road. Both plots have 999-year leases from Oct 16, 1884. The sites are being sold on a nonvacant basis. This means the buyers will be responsible for vacating the tenants. The two sites are at 20-28 and 43-56 Meng Suan Road. […]

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Two landed sites to go on sale with tenancies

Prices should be less than market rate as house owners need to be compensated TWO sizeable landed residential plots off Mandai Road will be sold via auction later this month – with prices expected to be below the market rate for comparable plots. The catch: The 23 houses that sit on the land are owned […]

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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 […]

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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 […]

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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 […]

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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 […]

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Hot market smokes out solo land sites

19 single-owner plots worth $1.05b sold this year (SINGAPORE) With the property market running hot, it is not just collective sales that have ballooned. Over the past two years, more residential land sites owned by single owners were sold as well. So far this year, 19 residential sites owned by single owners and worth some […]

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Sweet collective-sale deal for 15 houses in Balestier

Each owner gets $4m – 2 to 3 times what they would have made if they sold separately IT TOOK 18 months but the owners of 15 terrace houses in Balestier have pulled off a sweet deal to match some of the collective sales that have been making headlines all year. They have banded together […]

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Fifteen Balestier terrace houses sold for $61m

Buyer pays $739 ppr, a record for freehold residential land in vicinity A ROW of 15 terrace houses in Jalan Bunga Raya have been sold for $61 million or an all-up unit land price of $739 per sq ft per plot ratio (psf ppr) – a record for freehold residential land in the Balestier/Novena area. […]

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No delaying payments, so home hunters turn cautious

Move may have initial dampening effect but experts say it will chase away only speculators MARKETING manager Simon Loh has put an abrupt halt to his house hunting. The 38-year-old had been looking for a new place for the last six months, but now that he cannot defer payments until the new apartment is ready, […]

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SLA puts up six residential sites for auction

THE Singapore Land Authority (SLA) will release six residential sites for sale by auction. Two are in the Eng Neo Avenue good class bungalow (GCB) area in District 11 – the first GCB sites released by SLA for development. The other four are in Moonbeam Walk, Jalan Insaf, Bedok Close and Somme Road. The plots […]

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Reserve site up for sale, sparked by $7.8m bid

Committed sum for 17conservation shophouses comes to just $460K each With property prices hitting new peaks in recent times, it is rare to see a committed bid of just $7.8 million for a 15,200 sq ft site near the city centre. Based on the committed bid received by the Urban Redevelopment Authority (URA), each of […]

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Property booms, busts make economy vulnerable

SINGAPORE ECONOMIC POLICY CONFERENCE Bubble cuts private spending, raises reliance on volatile foreign demand PROPERTY price booms and busts make Singapore’s economic growth more vulnerable to volatile factors and should be prevented, an economist at a think-tank said here yesterday. While the impact of a spike in property prices on overall GDP growth is ‘quite […]

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No bubble in property market: NUS study

DESPITE Singapore’s red-hot property prices, no bubble is forming in the property market here, according to a study by National University of Singapore (NUS) economists. In fact, the rise in home prices is below the market’s long-run ‘equilibrium’ level, based on factors such as income and property supply, preliminary findings of the ongoing study show. […]

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PROPERTY – Build dream homes on small govt plots

Infill sites to come back on market after over a decade – buyers likely to get cheap land in choice areas THE idea of building a house on a former septic tank site might seem noxious to some. But it could mean the chance to build your dream home on that rarest of commodities in […]

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Mass-market sector rebounded in ’06: CBRE

Non-landed projects in non-prime areas turn in strong sales volume MASS-MARKET property sales actually staged a recovery last year, earlier than widely believed, said property consultant CB Richard Ellis (CBRE) yesterday. In a study of the take-up rates of new non-landed projects in non-prime areas, CBRE found that the mid-tier and mass-market projects turned in […]

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S’pore property seen as top buy in Asia-Pac

Sentiment strongest in rental apartment, office, hotel/resort, retail sectors: survey SHANGHAI, Singapore and Tokyo have emerged as the top three most promising Asia-Pacific cities for real estate investment prospects, according to a report from the US-based Urban Land Institute (ULI) and the accountancy firm PricewaterhouseCoopers (PwC). ‘Sentiment was strong among survey participants to either buy or […]

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Sentosa Cove puts last site up for sale

Bids of up to $144m are expected for Pearl Island, which can host up to 19 waterfront villas DEVELOPERS who want a slice of the Sentosa Cove pie will have to act fast – the enclave’s final development site was put on sale yesterday. Up for grabs is Pearl Island, the last of five islands […]

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The price of luxury

Flush with cash, the high-end residential market is flourishing. Look at what $5 million gets you STRONG corporate profits and a global commodities boom in 2006 helped grow fortunes and sparked a surge in demand for trophy homes. A survey by Cap Gemini and Merrill Lynch shows the number of high net worth individuals (HNWI) worldwide […]

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Sentosa Cove turns sea to gold with $3b land sales

Relaunched Pearl Island could see luxury villas going at hefty prices, market watchers say (SINGAPORE) The combination of sand, sea and location have worked wonders for Sentosa Cove Pte Ltd (SCPL). It has raised more than $3 billion selling land parcels in its namesake upscale waterfront housing district since late 2003, market watchers have calculated. […]

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Getting the right look

Looking to dress up that brand new home? Here’s a peek at some of the latest trends in furniture design THE humble sofa is set to get all touchy-feely, judging by the emerging trends from the design capitals of the world. Furniture designers often take their cue from what is put on show at cutting-edge […]

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Dispelling some auction myths

Acquiring properties through an auction is not a taboo, says MARY SAI WHEN one flips through the property classifieds these days, it not uncommon to see properties advertised for auction. It is also not uncommon for a prospective buyer to immediately get the impression that the property to be auctioned, or the owner, must have […]

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Brisbane Devt to release 2nd phase of Illoura

Freehold project has 30 detached, semi- detached houses AUSTRALIAN property company Brisbane Development is all set to release the second phase of Illoura, its strata landed project in the Holland Road area, after the first 15 units in the development were sold at prices exceeding $5 million apiece. Illoura consists of a total of 30 […]

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The ascent of landed housing

Solid gains await with double-digit price growth and Singapore’s scarcity of land THE private residential market has been hogging the headlines in the past 18 months. Overall prices recovered in 2004 and 2005 by 0.9 per cent and 3.9 per cent respectively, and home prices shot up by 10.2 per cent in 2006 and another […]

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Sale of Seletar Garden could fetch up to $75m

This works out to $683-$733 psf ppr inclusive of DC for the 73,099 sq ft site SELETAR Garden, a mixed development at Yio Chu Kang Road, is up for sale by tender with the estimated price of between $70 million and $75 million. This works out to be $684-$733 per square foot per plot ratio […]

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Foreigners snap up 87% more landed homes in first half: DTZ

Companies make 265 buys in H1 2007 vs one in H1 2006 (SINGAPORE) Foreigners, including permanent residents, bought 232 landed homes here in the first half of this year, up 87 per cent from the same period last year, according to DTZ Debenham Tie Leung’s analysis of caveats. But foreign buyers’ share of total caveats […]

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Foreigners snap up 87% more landed homes in first half: DTZ

Companies make 265 buys in H1 2007 vs one in H1 2006 (SINGAPORE) Foreigners, including permanent residents, bought 232 landed homes here in the first half of this year, up 87 per cent from the same period last year, according to DTZ Debenham Tie Leung’s analysis of caveats. But foreign buyers’ share of total caveats […]

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The rant over rent: Landlords strike back

We’re not greedy, we’ve been ‘subsidising’ tenants with low rates since 2003, they say RETIRED doctor S.M. Soon, 62, is one happy landlord. She collects $16,000 a month from her tenant at Emerald Hill, which means she doesn’t have to use her own funds to top up her monthly mortgage payments. But things weren’t always […]

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85% of MCL Land’s Hillcrest Villas sold in the past fortnight

Average price for the 163-unit cluster terrace homes project is $871 psf MCL Land has sold 85 per cent of its 163-unit cluster terrace homes development Hillcrest Villas over the past fortnight. The average price for the 99-year leasehold project in the Dunearn Road area on the former SingTel Academy site is about $871 per […]

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Home market will grow even if punters retreat: report

Developers may go for higher volumes, lower margins in mass, mid-segment (SINGAPORE) Recent events could make the residential property market vulnerable to declines in collective sales and speculative activity. However, Goldman Sachs believes that other demand drivers such as the increase in resident population will help mitigate the fall in those selling their homes through […]

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Strata landed homes look set to be big trend

AUGUST and September are typically slow months for new property launches, due to the superstition surrounding the Hungry Ghost month. But developers are not sitting idly by this year. Several launches are in the works for the last months of the year, and one of the big emerging trends appears to be strata-titled landed homes, […]

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DC rates hoisted by as much as 112%

Average rate raised by 58% for non-landed residential use, and 42% for commercial use (SINGAPORE) The government yesterday announced what is possibly the sharpest hikes in development charge (DC) rates, which are payable for enhancing the use of some sites or building bigger projects on them. The Ministry of National Development (MND) cited the rise […]

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Good class bungalow sold for record $29m

A GOOD class bungalow at 15 White House Park has become mainland Singapore’s most expensive, after it was sold for a record $1,308 per sq ft (psf) – eight years after the historic property was restored and put on sale. The 22,000 sq ft conservation bungalow – called Glencaird – was sold to a Singaporean […]

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URA to auction 12 Sembawang sites for landed homes

FOR the first time in six years, the Urban Redevelopment Authority is offering small sub-divided landed housing plots for sale. It will auction 12 on 99-year leasehold tenure at Sembawang Road/Andrews Avenue on Oct 30. The plots, in Phase 1 of a new landed housing estate called Sembawang Green, can be developed into a total […]

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Can flat buyer force us to sell after we quit deal?

Q MY BROTHER and mother jointly sold their four-room Housing Board (HDB) flat. But my brother, who has a low IQ, backed out and refused to proceed with the HDB sale procedure on the first appointment. The HDB then postponed the appointment date by a month. But my brother is still refusing to sell the […]

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Hot Spot – Kallang Basin

New condos coupled with the Government’s plans to revitalise the greater Marina Bay area will inject a lot more buzz into the Kallang Basin district. Already, the values of some residential projects in this area have risen. Check them out. Kallang Basin    TANJONG RHU Residential oasis near the city TANJONG Rhu is a large upmarket […]

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Hot Spot – East Coast Road

 The Sunday Times takes a look at this coveted residential district in the East. Check them out. east-coast-hot-spot.pdf JOO CHIAT/TELOK KURAU Steady stream of small projects THE sleaze of Joo Chiat is often put in the spotlight but beyond the colourful nightspots, the area is a quiet residential zone dominated by low-rise boutique developments and […]

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Leases Getting Shorter as Rentals Go Up

WHEN technician Paul Tan wanted to renew the lease for his three-room flat in Tampines, not only did his landlord increase his monthly rental by $100, he also shortened his contract to a one-year term. The usual three-year option, which tenants used to get, is a thing of the past, the 50-year-old was told. ‘Of […]

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Prices for Sentosa bungalow land hit new high

LAND prices for bungalows have hit a new high of $1,472 psf at Sentosa Cove, beating the $1,308 psf price set in November 2006. Four seafront bungalow plots were released for sale in March and all have been sold. Apart from the top price, a spokesman for Sentosa Cove Pte Ltd (SCPL) said the average […]

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Upswing in GCB land prices Expected to Continue

Bungalow at 63 Dalvey Road changed hands at $1,091 psf RECORD prices have been achieved in several Good Class Bungalow (GCB) areas this year – a trend expected to continue as well-heeled investors move to snap up limited supply. A freehold bungalow on 15,075 sq ft of land at 63 Dalvey Road was sold for […]

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