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 […]

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 […]

Getting a home loan? Get reality check first

This is a very interesting headline. Read on to find out why. Straits Times today (01 Mar 12) Summary: Monetary Authority of S’pore (MAS) has mandated that from today, banks will have to provide potential borrowers with a fact sheet when discussing on credit facility. Objective: to help potential customers work through the nuts and […]

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 […]

Sentosa Cove Bungalow fetches Record $39 M

Business Times – 01 Mar 12 Summary: A sea fronting bungalow at Cove Drive has changed hands at $39 million, a record absolute price for a bungalow in upscale waterfront residential district of Sentosa Cove – $2,448psf on land area of 15,929sqft. Surpasses the previous high of $36 million for a bungalow on Paradise Island that was transacted in […]

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 […]

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, […]

Suites @ Newton is FOR SALE!!!

Suites @ Newton is now available at SPECIAL PREVIEW PRICES! 1-Bedroom only from $1,041,427! 2-Bedroom only from $1,224,853! Do not to miss such attractive quantum for a Prime D11 property!!! Prestigious Freehold Development @ D11 1 Surrey Road By Teambuild Land   ~~~Newest Launch!~~~ ~~~Worth Considering!~~~ Reasonable Quantum!  Project Information Location:  District 11! 1 Surrey Road Singapore […]

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 […]

HDB resale flat prices up 3.8% – Channel NewsAsia, 28 October 2011

Summary: HDB Resale Prices has increased by 3.8% as compared to the previous quarter Resale transactions fell by 10% from 6,581 cases in the second quarter to 5,903 cases in the third quarter. Overall increase from Q3 2011 is 11.6%, which is an all-time high, i.e. HDB resale prices has been increasing at an average […]

URA Released Real Estate Statistics for 3rd Quarter 2011

Check out my analysis of the data released! Please click on the picture below to enlarge the font size!

Have Property, May Not Profit – Sunday Times, 16 Oct 11, Invest Section, Page 37

Last Sunday, there was an interesting article about investing in property market in Singapore: Have property, may not profit – Sunday Times, 16 Oct 11, Invest Section, Page 37 In this article, the author, Mr Goh mentioned that he had met up with some old friends who are property investors, and they were musing about their […]

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 […]

From exuberance to caution

In just 12 months, Singapore has swung from Boom Town to seeing its slowest quarter in five years. ONE year ago, economic and business sentiment in Singapore was probably at an all-time high: The property market was on a roll, banks and finance houses went on a hiring spree, and the economy, flush with liquidity, […]

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 […]

ME & MY MONEY: He makes room only for property investments

Door company Slide & Hide MD places his faith in real estate in S’pore and China, and blue-chip property stocks HE HAS worked in the construction industry for more than a decade and so it comes as no surprise to learn that Mr Andrew Lim, the managing director of door company Slide & Hide System, […]

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 […]

Market St Car Park may be redeveloped into offices

The total project cost could range from $1 billion to $1.5 billion CAPITACOMMERCIAL Trust (CCT) has been granted outline planning permission by the Urban Redevelopment Authority (URA) to redevelop Market Street Car Park into an office tower that could cost up to $1.5 billion. Lynette Leong, chief executive of CCT’s manager CapitaCommercial Trust Management Ltd, […]

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 […]

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 […]

Be vigilant about asset bubbles: Jackson Tai

Falling lending standards among key risks in Asia FALLING standards of lending due to intense competition among banks and ‘too much money’ driving asset prices up are some of the main risks to Asia’s financial industry, said outgoing DBS Group chief executive Jackson Tai last week. ‘Underwriting standards for loans and financings have deteriorated in […]

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 […]

2008 seen as year of mass market homes

Developers, consultants predict 10-20% hikes for this segment in 2008, high-end gains seen tapering to 0-10% (SINGAPORE) As the year draws to a close, developers and property consultants are cautiously optimistic about prospects for the Singapore property market next year despite the US sub-prime mortgage crisis and rising oil prices. For the residential sector, they […]

Wages keeping pace with household debt

Household balance sheet strengthened by rising property, equity prices SINGAPOREANS are a conservative lot. Despite strong wage growth, they are careful about borrowing too much. And with strong appreciation in property prices, the negative housing equity situation continues to improve. Household debt of $157.9 billion as a share of wages has continued to fall, from […]

Fewer sub-sales but value hits all-time high

Median Q3 sub-sale prices also hit record of $1,246 psf, up 25% year-on-year (SINGAPORE) The level of sub-sale activity may be just about half of what it was in 1995 but the value of subsale apartments transacted in the first three quarters of this year is already at an all-time annual high of $6.7 billion. […]

Fewer homes worth less than remaining loans as prices rise

Owners no longer in negative equity may be tempted to sell and cash in THE number of home owners in negative equity – where the property is worth less than the loan taken to buy it – has been slashed due to soaring real estate prices. Four years ago, about 13.7 per cent of owners […]

Property sales set for big drop in Q4

Early numbers show Q4 private property deals at $2.9b, nowhere near Q3’s $15.6b (SINGAPORE) Weakening market sentiment could have a bigger impact on property sales if early numbers for the Q4 2007 transactions are anything to go by. In a preliminary analysis of caveats lodged by DTZ Debenham Tie Leung (DTZ), the value of all […]

Where high finance meets high living

The new downtown will boast a casino, a financial hub, condos and retail areas TIRED of Orchard Road? Jaded by Clarke Quay? Finding Robertson Walk just a trifle same-old, same-old? For the Singapore consumer – probably among the most avid in the world – Marina Bay may be the next big thing. The new downtown […]

Oversupply looms in S’pore office sector: Citigroup

It downgrades two stocks with key exposure to sector – KepLand, CityDev SINGAPORE is in danger of seeing an oversupply of office space from 2010 onwards, Citigroup is warning. The bank’s research unit has also downgraded two Singapore stocks with significant exposure to the office market here – Keppel Land and City Developments. ‘The market […]

S’pore launches pushed back as developers gauge sentiment

Some projects being launched overseas first, others struggle to finish showflats (SINGAPORE) Developers here are holding back residential launches due to poor market sentiment – and in some cases are choosing to launch their projects overseas first as they wait for market sentiment here to recover. Launches are also being held back as showflats are […]

S’pore ranked 9th most costly Asian city for expatriates

SINGAPORE has risen 10 places in a new global survey of the most expensive places for expatriates to live. The Republic is closing the gap on higher-priced Hong Kong, which stayed at No. 79 in the survey, conducted by human resources firm ECA International. Despite the jump, Singapore, at No. 122, is still significantly cheaper […]

Property may be big gainer as real interest rates plunge

Mounting inflation makes it tempting to borrow, but things may change in the long run (SINGAPORE) Rising inflation may be starting to worry policymakers and the man on the street, but it has had an interesting side effect. It has pushed down the real interest rate dramatically and is expected to drive the property market […]

two cents’worth – Traits a good property investment should have

IT’S important to keep this in mind: It’s easy to get into properties, but very difficult and costly to get out. Hence you must get it right the first time and every time. Try to meet as many of the following criteria as you possibly can. Buy in high-growth areas These places experience traffic congestion. […]

Home sales dive in upmarket core, pick up elsewhere

Bourse turmoil, sub-prime problems cited for foreign investors’ caution   (SINGAPORE) The private housing momentum is shifting decisively as sales and launches flag in the Core Central Region (where upmarket homes are located) but appear to be picking up in other areas. In the so-called Outside Central Region – which includes suburban mass-market housing locales […]

Soilbuild buys site for condo project

(SINGAPORE) Listed developer Soilbuild Group Holdings yesterday said that it bought a landed site off Meyer Road which it plans to amalgamate with Margate Mansion for a small luxury condominium project. The group’s latest purchase is 10 Margate Road. It paid $30.8 million for the 16,967 sq ft freehold site. Together with Margate Mansion, total […]

S’pore home price gains set to slow

Buyers holding back purchases on US sub-prime fears, says Frasers CEO (SINGAPORE) Singapore’s home prices will probably increase at a slower pace as buyers hold back their purchases amid the US subprime crisis, said Lim Ee Seng, chief executive officer of Frasers Centrepoint Group. Losses related to US housing mortgages have sapped consumer confidence, Mr […]

HORIZON TOWERS HEARING – ‘Penthouses cost $20m, $30m…where am I to go?’

Apportionment method is unfair, argue some penthouse owners (SINGAPORE) The minority owners of Horizon Towers who are objecting to the en bloc sale of the development took the stand for the first time yesterday, putting forth their reasons as to why the collective sale should not go through. Arguments on how the penthouse owners would […]

Property boom expected to continue

Robust economy, jobs growth, strong housing demand and en bloc sales proceeds are key drivers THE bullish sentiment in Singapore’s residential market continued into 2007 from where it left off in 2006. In the first nine months of this year, the market recorded a total of 29,331 sales transactions worth some $52 billion. This represents […]

Modest bidding for CBD office site as caution sinks in

Top offer of $779.42 psf ppr half of next- door site’s recent bid (SINGAPORE) The new-found caution surrounding the Singapore office market is now spilling over to the Central Business District. Reflecting this, a site at Marina View diagonally behind One Shenton yesterday attracted a top bid from Macquarie Global Property Advisors (MGPA) of $779.42 […]

Interest-only loans: the pros and cons

They make sense to short-term investors and individuals who are high income earners and in high tax brackets, says BEN FOK  CONSUMERS are constantly bombarded with offers of loans, overdrafts, credit cards and instalment plans that promise instant gratification. We cannot avoid debt entirely, especially when it comes to acquiring the big ticket items, and […]

Essential homework before taking loan

KEVIN LAM discusses five key areas that your home loan banker would be looking very closely at THIS has been a special year for the property market. Not since the early 1990s has there been such euphoria about the property market – long queues at property launches, stories of someone we know making fast money […]

PROPERTY – Consider shop units for rental yields

Prime units offer yields of 3.5%-5% but they don’t come cheap, especially in Raffles Place, Orchard Road SHOPPING, already a national pastime, is becoming even more popular, if rising retail rents and capital values are anything to go by. Not only are the rents and values in the traditional shopping belt of Orchard Road on […]

Estate agents’ group objects to new regulatory scheme

CONSUMERS looking forward to greater regulation in the real estate industry might have to wait a bit longer, as the process has just hit a snag. A group of property agencies is questioning a move by the Institute of Estate Agents (IEA) to launch a ‘practising certificate’ for its members, as there is already an […]

CDL-Wachovia JV buying two blocks at Cliveden at Grange

CDL hints it may retain units in some future residential developments A JOINT venture between City Developments Ltd (CDL) and US-based Wachovia Development Corporation is buying two blocks at CDL’s Cliveden at Grange condo for $432.4 million or an average price of about $3,750 per sq ft (psf). And according CDL executive chairman Kwek Leng […]

Market hit by property, bank fears

ST Index suffers 1.2 per cent fall, due also to sharp plunge in Hang Seng Index SINGAPORE stocks started the week yesterday on a sour note due to renewed fears in the property and financial sectors, and a sharp plunge in Hong Kong’s main share index. The Straits Times Index (STI) ended 45.14 points or […]

CDL, US group to buy 44 units of Grange Road condo

PROPERTY giant City Developments (CDL) has teamed up with United States financial services group Wachovia to buy 44 homes in CDL’s freehold Grange Road project for $432.4 million. Industry analysts suggest CDL might be preparing to list a real estate investment trust (Reit) using the properties. Knight Frank executive director Peter Ow said: ‘The only […]

Buying completed homes gives investors instant rental income

Such cash inflow can help to cover mortgage payments and lowers one’s portfolio risks PROPERTY investors love new launches – they can get their hands on a unit fresh off the plans and hope for huge overnight gains. But long-term investors would do well to also check out completed properties that can generate an immediate […]

Take-up of JTC ready-built space rises to 2-year high

Strong demand for factory, business park premises in third quarter THE take-up among businesses for JTC Corp’s ready-built facilities is at a two-year high. Net allocation of such industrial space stood at 75,100 sq m in the July to September quarter – 29 per cent more than in the previous quarter and the highest since […]

Confirmed: Atrium @ Orchard for sale

THE Singapore Land Authority has confirmed a BT report yesterday that it plans to sell The Atrium @ Orchard – the first state sale of a Grade A prime commercial building. ‘The government does not own other commercial buildings of the same grade and category as The Atrium,’ an SLA spokeswoman said. ‘It is not […]

Far East opening $8m outpatient clinic at Novena

Project expected to break even within a year FAR East Organization and a group of doctors are investing $8 million to set up a clinic called Novena Surgery, in response to what they say is an increasing need for outpatient surgery for Singaporeans and international patients. Lim Beng Hai, director and senior consultant hand surgeon […]

Life after deferred payments starts with just 2 bids for site behind Icon

Developers could be turning cautious, say analysts (SINGAPORE) In a sign that developers are turning cautious after the withdrawal of the deferred payment scheme, a state tender for a 99-year residential site at Enggor Street behind the Icon development drew just two bids yesterday. The higher bid by Far East Organization was 55 per cent […]

$730k view – 5-room HDB flat in Marine Parade sold for record sum

AN UNRENOVATED 32-year-old five-room flat in Marine Parade, on a high level with a full sea view, has been sold for $730,000 – a new record for an HDB flat. This trumps the previous record of $720,000, set in June by a fairly new five-roomer in Kim Tian Place. The buyer, who declined to be […]

Two 99-year sites up for collective sale

Chancery Court, Thomson View tenders likely to close in early Dec (SINGAPORE) Chancery Court and Thomson View Condo, both 99-year leasehold properties, are being put up for collective sale, with respective guide prices of $468 million and $550 million. Chancery Court, a privatised HUDC estate on a choice location along Dunearn Road, has been launched […]

Brisk sales at newly-launched suburban projects

Analysts looking to see effect of scrapping of deferred payment UIC Ltd is launching its 192-unit Park Natura development across from Bukit Batok Nature Park, and market watchers will be eager to see how sales will be affected by the US sub-prime mortgage crisis or by the withdrawal of the deferred payment scheme (DPS). So […]

Atrium @ Orchard could fetch over $1b: analysts

Govt expected to put property up for sale with fresh 99-year lease SINGAPORE Land Authority is putting up The Atrium @ Orchard for sale, BT understands. Market watchers say the property is expected to fetch over $1 billion. They reckon the Orchard Road property, which will be sold with a fresh 99-year lease, could fetch […]

Analysts see no property bubble

They’re mum on whether it’s a good time to buy, but agree S’pore fundamentals are pretty robust. PROPERTY: boom or bust? This was the intriguing question to which a capacity turnout of about 170 investors recently sought answers, at a dinner hosted by financial advisory firm ipac. The good news is that the experts at […]

Using HDB equity to pay for annuities

The median CPF member holds three times more in HDB housing equity than CPF cash holdings A NEW scheme making annuities compulsory for Central Provident Fund (CPF) members has been greeted quite negatively by the public. The scheme involves setting aside a small portion of the Minimum Sum to buy the annuity. When the individual […]

PM Lee pledges further action on property if necessary

He says Friday’s measure will inject some market reality (SINGAPORE) Prime Minister Lee Hsien Loong yesterday said the government will continue to monitor property market trends closely and take further action if necessary. His remarks come shortly after Friday evening’s announcement on the scrapping of the deferred payment scheme for property purchases, which Mr Lee […]

Restoring a genuine property market

PROPERTY stocks were sent reeling yesterday following the government’s announcement to discourage speculative buying in the real estate market. In contrast, bank stocks rose. The divergence in stock performance between the two market sectors comes down to this: what is bad news for speculators may prove to be good news for banks. The scrapping of […]

Property shares take a beating

Developers with inventory in prime districts may face pricing pressure PROPERTY analysts were still busy yesterday predicting how the market will be affected by the end of the deferred payment scheme (DPS) as property shares received their expected drubbing when trading opened. A report by OCBC Investment Research forecast tough times for the residential sector […]

7,750 homes could still be sold using deferred payments

Units are in projects that had approval; developers may opt not to do so though UP TO 7,750 unsold homes could still be available for purchase under the deferred payment scheme, even though it was scrapped last week. The Urban Redevelopment Authority (URA) said these units are in developments that already have approval for the […]

Exit of deferred payments not a fatal blow: Goldman

Mid to mass market may be hardest hit as some projects see 50% opt for scheme (SINGAPORE) The withdrawal of the deferred payment scheme (DPS) for property purchases may quell demand in the short term, but will not deal a fatal blow to Singapore’s residential market, says Goldman Sachs. The investment bank also expects negative […]

two cents’worth – Investing in property may be less profitable than buying shares

SHARE markets have generally produced higher investment returns than residential property over the long term. Theoretically, then, those who rent a property and invest their money in quality shares should be wealthier than those who concentrate on paying off their homes. However, the discipline of meeting regular mortgage payments and gradually taking ownership of a […]

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, […]

Buyers paying way above valuation for HDB flats

IF YOU are looking to buy an HDB resale flat, make sure you have plenty of cash on hand. Due to soaring home demand, an average HDB resale flat now costs $17,000 above its valuation from $7,000 just three months ago. This figure, called the cash-over-valuation amount, has to be paid in cash by a […]

Office rentals main concern for Norway firms here

RISING office rentals is the biggest concern among Norwegian-owned businesses operating in Singapore. While 88 per cent of these firms expect to expand in the next 12 months, many are increasingly concerned about spiralling business and manpower costs. The findings came from a recent survey conducted by the Norwegian Business Association in Singapore over the […]

Prices of HDB resale flats keep accelerating

RIDING on the property boom, HDB resale prices are on the rise. The price index of resale flats was 6.6 per cent higher in the third quarter compared to the previous quarter, the HDB said in a press release on Friday. Price increases were seen across most flat types and towns. ‘As at end-September, the […]

Prices of HDB resale flats keep accelerating

RIDING on the property boom, HDB resale prices are on the rise. The price index of resale flats was 6.6 per cent higher in the third quarter compared to the previous quarter, the HDB said in a press release on Friday. Price increases were seen across most flat types and towns. ‘As at end-September, the […]

Global property investment expected to fall

Mortgage defaults in US may prompt lenders to tighten credit, says JLL (TOKYO) Global direct real estate investment may fall this year as concerns about defaults on US mortgages prompted lenders to tighten credit, said Jones Lang LaSalle Inc, the world’s second-largest commercial real estate broker. Asia may be the only market to experience an […]

PROPERTY – 2,000 high-end homes may be launched soon

About 30 new condos may be launched by early next year, at least half of them in Orchard, Bukit Timah and Holland SALES of new homes took a dive last month, but they might pick up soon as developers prepare to launch a string of projects over the next few months. Almost 30 new condominiums […]

5.5m population more achievable for Singapore

THE 6.5 million population used as a guide for planning purposes in Singapore is not within reach in the next 50 years, an academic said yesterday. Saw Swee Hock of the Institute of Southeast Asian Studies said 5.5 million is a more achievable target. Prof Saw – the second Singaporean after former deputy prime minister […]

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 […]

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. […]

Marina Bay’s key selling points

Its ‘live-work-play’ concept makes it an attractive location for home-buyers. MARINA Bay is not just well on the way to becoming Singapore’s new financial hub, it is also shaping up as an attractive location for home-buyers. Property analysts say that since the first residential project there – City Developments’ The Sail – was launched in […]

Sites in Jurong, Holland, Orchard up for sale

2 prime freehold sites could fetch $670-$700m each in collective sales THREE sites for residential development were launched for tender yesterday – a 99-year leasehold, traditional suburban mass-market housing plot next to Lakeside MRT Station in the Jurong area, as well as two freehold, prime district sites offered through the collective sales of Villa delle […]

SingPower Building on sale for expected $990m

Market watchers say leasehold property likely to fetch $1,800 psf THE office market can be expected to continue teeming with deals, with the latest offering said to be the Singapore Power Building behind Somerset MRT Station. The 30-year-old building, once known as PUB Building, is being marketed through an expression-of-interest exercise, BT understands. Market watchers […]

HDB expects stock of unsold flats to drop to 2,200 units by year-end

THE stock of unsold Housing and Development Board (HDB) flats, which stood at about 10,000 three years ago, is now down to 3,500, and the board expects the stock to fall to 2,200 units by the end of the year. Speaking at a press conference to release the HDB Annual Report 06/07 on Tuesday, HDB […]

Economy’s solid growth to spill into 2008: NTU

It cites uptick in world electronics demand, sizzling construction activity THANKS to the sustained health of the global economy, an uptick in world electronics demand and sizzling construction activity here, the rosy picture for Singapore’s economy will persist into next year, Nanyang Technological University economists said yesterday. Singapore’s gross domestic product is expected to grow […]

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Sim Lian top bidder for Toa Payoh site

Its $38.23m bid for 99-year leasehold commercial site beats eight others SIM Lian Development Pte Ltd yesterday put in the top bid of $38.23 million, or $847.54 per square foot per plot ratio (psf ppr), for a 99-year leasehold commercial site next to HDB Hub in Toa Payoh. The company, which is not part of […]

Investors’ short memory is worrying

Granted, the sub-prime crisis has passed. But the US economy has other major problems. So it’s advisable to be prudent By WONG SUI JAU WHAT a difference two months makes. In mid-August, the sub-prime loans scare had just rocked markets around the world, causing them to fall for two weeks. The air was heavy with […]

Home sales hit a wall as stock jitters spook buyers

Fewer launches add to September slowdown but analysts expect pick-up amid new benchmark prices (SINGAPORE) Developer sales of new homes slowed to a crawl in September, hit by stock market jitters caused by sub-prime woes in the US. Just some 529 new units were sold by developers last month, a sharp drop from the 1,731 […]

S’pore seeking property investments from Mid-East

SINGAPORE is wooing investments from the Middle East, as companies and individuals from the oil-rich region expand their presence in the Republic. Government bodies such as the Urban Redevelopment Authority (URA), Singapore Tourism Board and the Building and Construction Authority have joined a host of other groups to showcase what Singapore has to offer at […]

Record prices for some properties despite sliding sales – Sentiment steady last month despite fears over impact of US credit crisis

PROPERTY sales slumped last month, as buyers stayed on the sidelines but there was a silver lining with prices at some projects hitting record levels. The cause of the sales dip was clear – concerns in the United States over its subprime mortgage industry triggered meltdowns in share markets across the globe. Many spooked buyers […]

Why Singapore is what it is

Minister Mentor Lee Kuan Yew was the keynote speaker at the opening of the International Bar Association’s annual conference last night. This is his address. TO UNDERSTAND Singapore, you have to know how we were suddenly thrown out of the Federation of Malaysia in 1965 and became an independent state. Peninsular Malaya had been Singapore’s […]

NEWS ANALYSIS – Asset inflation may not always be a bad thing

Property owners, for instance, could gain as asset prices climb AS RECENTLY as four years ago, it was the fear of falling consumer prices and its corrosive effect on the stock market and residential properties which gave investors sleepless nights. Now, economists are worrying about the very opposite phenomenon – rising levels of inflation and […]

Average capital value of luxury apartments tops ’97 peak by 59%

THE average capital value of luxury apartments in Singapore has risen 43.5 per cent in the first nine months of this year since the fourth quarter of 2006. At $2,827 psf, the Q3 2007 average luxury apartment cap value has surpassed 1997’s peak level by 59 per cent, according to a report by Colliers International […]

Tanglin Village proves hot property for businesses

Offers flood in for two recently released plots, with top rental offer at five times the guide rent TANGLIN Village, the latest lifestyle hot spot in town, is drawing massive crowds to its range of newly opened shops and restaurants. And where consumers and foodies flock, so do business people. They have descended on the […]

$5,600 psf for penthouse new high in property price here

53rd-storey Orchard Residences unit fetches over $28m A NEW record property price for Singapore has been set, even though fewer sales are being made in high-end residential projects since the time of the US sub-prime mortgage crisis. CapitaLand and Sun Hung Kai Properties are said to have sold earlier this week a penthouse on the […]

Investment property sales jump 94% to $15.7b

INVESTMENT property sales nearly doubled, touching $15.69 billion, in the third quarter, reflecting buoyant investor sentiment. This was 93.9 per cent higher than the $8.09 billion recorded in the same period last year, a new report by property consultancy CB Richard Ellis (CBRE) showed yesterday. Most investment sales – 64.3 per cent, or $10.1 billion […]

Sing Holdings sells EastGate units for $63m

A DECISION to focus on the booming residential property market has seen Sing Holdings sell off 48 commercial units in its EastGate building for $63 million. The 10-storey EastGate, developed by Sing Holdings, received temporary occupation permit (TOP) status in 1998 and is located along East Coast Road and near Marine Parade Central. Of its […]

HDB prices likely to go up as unsold flats dwindle

1,600 apply online for 489 flats offered in balloting/walk-in sale yesterday THE number of unsold Housing and Development Board (HDB) flats is getting smaller, with prices expected to go up. HDB put up 489 flats in the North and West zones for sale yesterday through its Bi-monthly Combined Balloting/Walk-in sale exercise, and at the end […]