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URA cracks down on misuse of factory units

THE Government has wasted no time in tackling a thorny problem that had sprung up over the wrong type of tenants using factory space to get cheap rent. The prompt action seems to have been set in train by a no-nonsense blog post by National Development Minister Khaw Boon Wan last week. He suggested that […]

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Rent rises beat capital growth in major cities

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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Shoe-box factories and unlawful tenants

THE shoe-box factory has caught the national development minister’s attention, and it’s not all good. Writing in his blog, Khaw Boon Wan said that shoe-box apartments serve a purpose as many singles do find them adequate for their housing needs. ‘But shoe-box factories? As small as 50-80 sqm (smaller than a typical 7-Eleven shop)? Can a factory […]

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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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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 […]

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‘Cooling’ back in frame as Feb home sales rise

It seems the government’s property cooling measures have lost their ‘cool factor’, as February marked the highest number of units sold by developers in a month since July 2009. Urban Redevelopment Authority (URA) figures reflected a total of 2,413 private homes – excluding executive condominiums (ECs) – being sold in the month of February. This […]

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More choice for Sers flat owners

THE Government has given a boost to Housing Board homeowners affected by en bloc redevelopment of their estates. They will now be given priority in the selection of any Build-To-Order (BTO) flat across the island, instead of just the replacement flats allocated to them near their current homes. They will also receive concessions which could […]

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Big property deals now in cold storage

Investment sales of property so far this quarter have plunged to their lowest levels in two years – to about $3.4 billion as at March 12, although the final figure for Q1 could rise to around $3.8 billion. The tally as at March 12 reflects declines of about 57 per cent from $7.7 billion for […]

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Lots to pick from for home buyers

Home buyers will be so spoilt for choice this year that most won’t know where to turn – or which developer’s sweetener to take up. The launches and freebies are already coming thick and fast with loads of new projects lined up. The news is less certain for pricing but few experts expect huge bargains on the horizon. While some say […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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Idea for Flats with Shorter Leases May Not Fly

(I think this is a bad idea. Read on…) Straits Times 02 Mar 12 Summary: A MP has proposed that the Government sell new flats with shorter leases, as that would mean cheaper flats which would be a boon for young couples. (Sometimes, I look at a young couple, and I wonder if their expectations are […]

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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 […]

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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 […]

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Turf City’s New landlord plans to revive mall

ST – 01 Mar 12 Summary: Cogent Land Capital has taken over the former Bukit Timah Turf Club site from Singapore Agro Agricultural (SAA). Tenants like Giant hypermarket, Ah Yat Seafood Restaurant and Art Boot Camp are still operating there. Renovation work will start next week. Revamped Turf City mall will have a range of […]

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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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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 […]

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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 […]

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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

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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 […]

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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, […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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!

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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 […]

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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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One man’s panic is another’s bargain…

Business Times – 15 Aug 2008 CDL chief points to some good buys as panic-sellers offload, but he’s not alarmed (SINGAPORE) City Developments Ltd (CDL) executive chairman Kwek Leng Beng yesterday acknowledged that there have been some cases of high-end property buyers resorting to panicselling in the secondary market. These are people who’d bought their […]

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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, […]

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All eyes on IRs now

Business Times – 09 Aug 2008 Apart from a surge in tourism, jobs and tax receipts, Singapore’s two integrated resorts could bring in new investors WITH expectations of a big boost to the economy, more buzz and the promise of thousands of jobs, it is no wonder we are all a little anxious to see […]

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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 […]

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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, […]

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Growth in office occupancy costs tapers off in Q2

Prime Raffles Place space up only 1.1% quarter on quarter: DTZ report GROWTH in office occupancy costs in Singapore has started to taper off after the meteoric rise last year, reflecting the increased resistance to higher occupancy costs, according to a new report. ‘Apart from Raffles Place, Shenton Way/ Robinson Road/Cecil Street and decentralised areas, […]

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HDB imposes checklists on resale flats

Business Times – 25 Mar 2008 THE Housing and Development Board will introduce mandatory checklists for housing agents handling resale flat transactions from May 1 – a move welcomed by industry players. The checklists cover key policies and procedures that housing agents will need to advise resale flat buyers and sellers on before they commit […]

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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 […]

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Don’t know what to do during the current property lull?

Business Times – 25 Mar 2008 PROPERTY EXPERTS GIVE SOME TIPS Seven tips for buying a second home Did you know, for example, that an HDB flat near an MRT station will give you a higher rental yield than most private properties? The importance of being earnest when going en bloc A major en bloc […]

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3,500 vied for 714 condo-like flats in Boon Keng, but only 460 sold

The Straits Times March 25, 2008 THOUSANDS of applications poured in for a condo-like Housing Board project in January – but as of last week, less than two-thirds of the flats had been taken up. About a third of the 714 units – or about 250 units – in City View @ Boon Keng remained […]

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Realising the Marina Bay vision

Business Times – 22 Mar 2008 CHING TUAN YEE and BENJAMIN NG reflect on the planning of Singapore’s most ambitious urban project and highlight the exciting developments in store for Singaporeans and visitors alike THE vision for Marina Bay is that of a high-quality, 24/7 live-work-play environment, one that encapsulates the essence of the global […]

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Singapore interest rates likely to fall further

The Straits Times March 24, 2008 Fed cut and robust Sing$ could push interbank lending rate below 1% SINGAPOREANS can expect cheaper mortgages but lower savings and fixed deposit rates in the months to come. This is after a move by the United States Federal Reserve to slash a key US interest rate last week. […]

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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 […]

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Cheung Kong pips Far East in URA tender

Business Times – 20 Mar 2008 It offers $305psf ppr for West Coast condo plot next to Blue Horizon  (SINGAPORE) Cheung Kong Holdings-linked Billion Rise yesterday pipped Far East Organization to emerge as top bidder for a 99-year leasehold condo site facing West Coast Park and overlooking the sea. Billion Rise’s bid of $110.44 million […]

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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 […]

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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’ […]

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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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Space crunch in Orchard pushes docs to Novena

March 12, 2008 The area could turn into medical hub as more private doctors set up clinics there PRIVATE doctors are flocking to the Novena area as the squeeze on clinic space in the Orchard Road belt tightens. The migration could turn the area into Singapore’s newest centre for private health services, some believe. In […]

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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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Investors eye real estate after tough 2007

Business Times – 11 Mar 2008 Asian property and niche sectors are attracting assets (LONDON) Many investors in alternative assets plan to invest more in real estate after poor returns from the sector in 2007, a PricewaterhouseCoopers (PwC) survey showed yesterday. John Forbes, UK real estate leader at PwC, said some investors had been lured […]

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Ophir-Rochor corridor site to be marketed in France

Business Times – 11 Mar 2008 THE Urban Redevelopment Authority (URA) will market the first site in the new Ophir-Rochor corridor at the ‘Marche International des Professionals de L’Immobilier’ (MIPIM), a premier international property event in Cannes, France. The site will be launched for sale under the Confirmed List of the Government Land Sales Programme […]

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URA sets aside more land for offices

Business Times – 11 Mar 2008 (SINGAPORE) Singapore will provide more land for offices as part of a strategy to strengthen its position as an Asian financial centre, the government’s real estate planning agency said yesterday. ‘The new growth area set aside for the seamless extension of the existing financial district … will be more […]

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Kuwait fund pulls out of bulk purchase of high-end homes

March 11, 2008 It allows options for 97 condo units at Goodwood Residence to lapse A KUWAIT bank fund that agreed in December to buy 97 units at posh Goodwood Residence for $818.4 million has let the purchase option lapse. Kuwait Finance House has given no reason for the move, which could result in the […]

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Punggol River set for big change

Work starts on $7.13m project to create reservoir park with man-made island by 2010 WORK to transform the Punggol River into a scenic reservoir park, complete with a man-made island, got off the ground yesterday. Prime Minister Lee Hsien Loong, who was at the official opening of the adjoining Anchorvale Community Club in Sengkang, symbolically […]

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PROPERTY: Demand for single office units still going strong in quiet market

Investors turn more cautious, but small firms still interested in strata-titled officesALL has turned quiet on the housing front, but some other segments of the property market appear to have escaped that fate. Still going strong in particular are sales of single office units in larger commercial buildings. Known as strata-titled offices, these properties recorded […]

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PROPERTY: Demand for single office units still going strong in quiet market

Investors turn more cautious, but small firms still interested in strata-titled offices ALL has turned quiet on the housing front, but some other segments of the property market appear to have escaped that fate. Still going strong in particular are sales of single office units in larger commercial buildings. Known as strata-titled offices, these properties […]

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Mortgage war breaks out as DBS and UOB offer new rates

Banks focusing on specific targets, waging battles without fanfare THE mortgage war finally erupted, as Singapore banks responded to a dramatic rate cut by Maybank three weeks ago – with one even offering a zero per cent package. That attractive deal comes from United Overseas Bank (UOB), which has relaunched a package with a teaser […]

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Casinos, other large projects push up cost of loans: OCBC

Casinos, other large projects push up cost of loans: OCBC SINGAPORE’S two casinos and other large projects will add S$30 billion to loan demand this year, pushing up the cost of corporate loans in the city-state, said Oversea-Chinese Banking Corp on Wednesday. Las Vegas Sands and Genting International have each borrowed about S$5 billion to […]

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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 […]

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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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Punj Lloyd Singapore unit sees orders triple

(SINGAPORE) Sembawang Engineers & Constructors, a unit of India’s Punj Lloyd, said yesterday its orderbook has tripled from a year ago on a construction boom in Singapore. The strong demand helped Singapore’s largest construction firm by sales raise its orderbook to $2.1 billion and boosted gross profit margins to 7-8 per cent from 1-1.5 per […]

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S’pore ranked top Reit market in Asia-Pacific

Survey cites support from regulators to the industry as advantageous SINGAPORE has been rated as the best location in Asia-Pacific for overall real estate investment trust (Reit) potential – for a second year. According to the second annual Asia-Pacific Reit Survey – undertaken for financial services provider Trust Company and law firm Allens Arthur Robinson […]

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UOL betting big on hospitality business

(SINGAPORE) The UOL Group has earmarked some $500 million – or a third of its available funds – to expand its hospitality business in Asia-Pacific over the next three years, the group’s president and chief executive Gwee Lian Kheng told BT in an interview. The property company plans to add some 15-20 hotels and service […]

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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 […]

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For sale: 18th floor of Peninsula Plaza at $17.5m

NOVELTY Department Store Pte Ltd, part of the Novelty Group, has put the entire 18th floor of Peninsula Plaza up for sale, with a price tag of about $17.5 million or about $2,050 per square foot (psf) of strata area. Peninsula Plaza is a 999-year leasehold building near Raffles City. DTZ is marketing the property. […]

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Singapore tops among Asian expats: survey

The Republic is the best place for them to live worldwide; Baghdad ranks last (SINGAPORE) The Republic ranks as the best place for Asian expatriates to live worldwide, according to the latest survey by human resources consultancy firm ECA International. Singapore surpasses cosmopolitan cities such as Sydney, Melbourne and Copenhagen in Asian expatriates’ view, the […]

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‘Magic dollars’ scam lets HDB flat sellers pocket cash

They declare a lower price, thus keeping the difference instead of returning funds to CPF A NEW scam involving HDB flats has surfaced, this time allowing flat sellers to pocket extra cash by craftily getting around the rules. The so-called ‘magic dollars’ scam involves reporting a falsely low sale price to the HDB – an […]

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JTC will still provide affordable industrial space: Hng Kiang

THE JTC Corp is not deviating from its role to provide affordable factory space, said Minister for Trade and Industry Lim Hng Kiang yesterday in response to a question on whether JTC is shifting its focus with its recent plans to divest its industrial properties into a real estate investment trust (Reit). This concern was […]

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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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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 […]

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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 […]

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Property development charges barely budge

Small revision of fees points to dwindling deals, slow price growth IT’S official: the property market has gone deathly quiet. The Government barely tweaked development charges in its semi-annual revision of fees yesterday, reflecting the property sector’s subdued state over the last six months. Development charges, which can run in the millions of dollars, are […]

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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 […]

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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 […]

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HDB will cater to buyers with different income levels: Mah

THE Housing & Development Board (HDB) will continue to provide a range of housing options to cater to buyers of differing income levels and aspirations, Minister for National Development Mah Bow Tan told Parliament yesterday. He was responding to concerns that the price gain in the HDB market is putting flats out of the reach […]

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Marina Bay to provide 1.1m sq m of office space

It will become a seamless extension of Raffles Place, says Mah THE upcoming financial district at Marina Bay will be twice the size of London’s Canary Wharf and will provide as much Grade A office space as Hong Kong’s Central. Revealing more plans for Singapore’s new financial hub, National Development Minister Mah Bow Tan told […]

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Newton area growing as a hub for hybrid offices

NEWTON is shaping up as a centre for hybrid offices, with another company, The Ascott Group, moving to the neighbourhood. The Urban Redevelopment Authority (URA) also said yesterday that it would release not one, but two, transitional office sites between Scotts Road and Anthony Road for sale. Ascott, which is officed at the former Temasek […]

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Property players sweat over lending squeeze

Banks batten down hatches amid global turmoil and as big deals suck liquidity (SINGAPORE) The squeeze is on. Banks have tightened financing for property investment deals, which include big transactions like sales of office blocks and development sites. This, in turn, may keep some buyers from participating in the market, industry players have told BT. […]

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CDL boss prepared to delay launches in subdued market

Some projects can be held off till 2009, he says, as full-year gain swells to $725m THE property market may have stalled for now, but City Developments (CDL) executive chairman Kwek Leng Beng is not too worried. He said that if necessary, he can hold off launches of new developments until next year. ‘Rather than […]

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HDB unveils ‘income for life’ scheme for the elderly

It will buy back tail-end of flat lease at market rate, with money going to CPF Life FOR 68-year-old retiree Teng Kiat Hwa, who owns a three-room HDB flat in Toa Payoh, his home is his only asset. Since he fell ill and stopped driving a taxi, he has had no income and his CPF […]

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URA launches 2 more temp office sites in Newton

Analysts see good demand just like for a nearby plot launched earlier TWO more transitional office sites have been launched by the Urban Redevelopment Authority (URA) in a move to help ease some of the pressure on space. The adjacent sites – parcel A is 8,682.8 sq m in size and parcel B is 9,037.9 […]

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Two more hotel sites put up for tender

TWO more hotel sites have been put on the market – a 99-year leasehold plot in Race Course Road, offered by the Urban Redevelopment Authority, and a freehold plot in Bencoolen Street now occupied by Peony Mansion. Peony Mansion’s owners want $50 million, which works out to about $850 per square foot of potential gross […]

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CapitaLand plans US$300m Vietnam fund

It has also formed a partnership with a Vietnamese investment company CAPITALAND, South-east Asia’s largest property developer, plans to set up a US$300 million property fund in Vietnam. The company also said yesterday it has forged a partnership with Vietnamese firm Nam Thang Long Investment Joint-Stock Company to seek investment opportunities in Vietnam. With the […]

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HDB launches 494-unit Punggol project

Four-room flats in BTO project meant to meet high demand; 278 applications so far THE Housing Board has released another new build-to-order (BTO) project in Punggol to meet surging demand from house hunters. It is offering 494 flats, all four-room units, at Punggol Spring – the first batch of 4,500 BTO flats planned for the […]

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Wheelock may not launch Orchard View this year

WHEELOCK Properties (Singapore) is likely to hold off launching Orchard View at Angullia Park for sale until next year, when the project is slated for completion. The company had earlier indicated that the development would be launched some time this year. The group, which yesterday posted a six-fold jump in group net profit for the […]

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Property sector braces for tougher times in 2008

Players feel squeeze from more credit woes and soaring construction costs THE property market in Singapore is set to face a challenging year ahead as it continues to take hits from the sub-prime crisis in the United States and rising construction costs, industry body Real Estate Developers’ Association of Singapore (Redas) said. ‘Unfortunately, the sub-prime […]

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Parkway justifies record land bid with vision for a ‘hospital of the future’

Focus will be on cardiology, oncology and orthopaedics (SINGAPORE) Parkway Holdings will be building on its newly-acquired Novena site what it calls a ‘hospital of the future’, that will incorporate a hub of top medical professionals, with the latest technology, organised along a high level of thoughtfulness for the patient. Speaking to the press and […]

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Office rents in Singapore on upward climb: property firms

THE occupancy cost for office space in Singapore is now higher than in Hong Kong, according to a new report. Data from property firm CB Richard Ellis (CBRE) show that total occupancy cost here hit US$10.42 per square foot per month (psf pm) at the end of 2007. By comparison, total occupancy cost for Hong […]

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Tanjong Pagar hotel site may fetch $750 psf ppr

CONTINUING its rollout of hotel sites amid the current shortage of hotel rooms, the Urban Redevelopment Authority yesterday made available for application a reserve-list site in the Tanjong Pagar area. The 99-year leasehold site, at the corner of Gopeng Street and Peck Seah Street, can be developed into a 30-storey hotel with about 330 hotel […]

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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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Maybank’s home loan promotion creates a buzz

Other banks won’t get into price war, says OCBC’s chief executive (SINGAPORE) Maybank’s promotional home loan package has apparently drawn massive interest from new home buyers and home owners looking to refinance. But at least one bank here has come out to say that this is unlikely to spark a mortgage price war in Singapore. […]

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Singapore’s Olympic dream comes true

It wins right to host YOG 2010; SMEs poised to ride branding boom (SINGAPORE) Shortly after 7pm yesterday, the Padang erupted. The two-horse, Moscow-versus-Singapore race to host the very first Youth Olympic Games (YOG) in 2010 had just seen Singapore breast the tape first, and everyone – from the Prime Minister to the other VIPs […]

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Quieter property market but outlook favourable in long run

THE real estate roller coaster that developers have ridden in recent years has taken a sharp turn, thanks to United States sub-prime woes, and left the industry wondering what is coming next. ‘Six months ago, we were concerned about the market exuberance,’ said Mr Simon Cheong, the president of the Real Estate Developers’ Association of […]

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Development fees may jump for non-residential sites

For residential areas where strong land sales have lifted values, charges could surge DEVELOPERS may soon have to pay more to redevelop non-residential sites such as land for hotels or hospitals. A key government fee for redeveloping sites will be revised again next month, and property consultants expect it to be raised for land used […]

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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 […]

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