Lower ratio of foreign homebuyers
The fraction of foreigners buying a private residential unit in Singapore has declined, according to Knight Frank. Based on caveats lodged data as at 18 July 2014, the proportion of Permanent Residents (PRs) and non-PRs (NPRs) decreased from 29.1 percent in Q1 2014 to 24.8 percent in Q2...
Continue Reading • 29 Jul 2014
Private home prices continues to slip
Prices of private homes dropped by one percent in Q2 2014, following the 1.3 percent decline in the previous quarter, according to the Urban Redevelopment Authority (URA) today. This marks the third straight quarter of price decline.Price decline was observed across all segments of the private...
Continue Reading • 25 Jul 2014
Nursing home in Jurong West to open next year
Jurong West will have a new nursing home in the third quarter of 2015.It can accommodate up to 290 residents, and will also include a senior care centre which can cater for up to 60 seniors. The facility aims to provide holistic care for the elderly, and provide more integrated healthcare...
Continue Reading • 25 Jul 2014
Investment sales up 20% in Q2
After two quiet quarters, the investment market has awakened from its slumber according to the latest report by Savills Research, Singapore. There was a total of about $4.73 billion of investment sales recorded in Q2 2014, up 19.9 percent from $3.95 billion in Q1 2014 and 21.7 percent from $3.89...
Continue Reading • 25 Jul 2014
Kheam Hock Gardens up for en bloc sale
Kheam Hock Gardens, a private residential project off Dunearn Road, has been put up for collective sale via a public tender by its sole and exclusive marketing agent, CBRE.Situated at 38 Kheam Hock Road, the 41,245 sq ft site has a reserve price of $59 million, which equates to a psf price of...
Continue Reading • 25 Jul 2014
Launch, sales volume rose in Q2
The private residential market saw a revival in developer launches and sales activity, according to a new report by Colliers International.However, it was at the expense of lower home prices.Launch volume in the Outside Central Region (OCR) increased 9.5 percent QoQ to 1,619 in 2Q 2014, while...
Continue Reading • 24 Jul 2014
56% of Singaporeans keen on solar power
The market for solar panels and smart-home devices in Singapore is flourishing, according to a survey conducted by Accenture as reported in the media.Out of 500 Singaporeans polled, the consultancy found out five percent already have solar panels for residential use, while 56 percent will likely...
Continue Reading • 24 Jul 2014
Developers need productivity training programmes
More training programmes should be offered to developers, builders and architects to help them get used to new construction methods, said the Singapore Contractors Association as reported in the media.The statement came after the government made the use of new construction methods compulsory...
Continue Reading • 24 Jul 2014
Bleaker outlook on property sector: NUS-REDAS
Developers have become more bearish on the property market’s outlook in the next six months, according to Future Sentiment Index by the National University of Singapore (NUS) and the Real Estate Developers’ Association of Singapore (REDAS) in media reports. The index dipped to...
Continue Reading • 23 Jul 2014
Developers explore overseas deals amid slow local demand
Singapore’s residential property developers are now exploring overseas opportunities, on the back of slowing demand and increasing land prices, according to a UOB Kay Hian report in the media.In recent months, a number of the country’s biggest developers have ventured into overseas...
Continue Reading • 23 Jul 2014
Fantastic Singapore response to super Vancouver icon
There was an overwhelming response to a Singapore property exhibition last weekend featuring one of Canada’s iconic buildings.Vancouver House, which will not be launched to Canadian buyers for another two months, saw more than 30 units transacted - far more than expected. When completed the...
Continue Reading • 23 Jul 2014
S$20m deals done at EPIC event
Deals worth more than S$20 million were concluded at Asia’s first major crowdfunding event which took place in Singapore last week.Organised by Singapore-based start-up CoAssets,the Expo for Property Investing and Crowdfunding (EPIC) 2014 attracted more than 500 delegates to the...
Continue Reading • 22 Jul 2014
City Gate receives healthy interest from buyers
City Gate, a mixed development along Jalan Sultan, was launched over the weekend at prices which are lower than expected, said media reports.With as many as six real estate agencies marketing it, City Gate saw about 80 residential units and 62 commercial units snapped up during its launch over...
Continue Reading • 22 Jul 2014
Fine-tune ABSD for Singaporeans: Wing Tai Chairman
Given the burden imposed on buyers by the seller’s stamp duty (SSD) and the total debt servicing ratio (TDSR) framework, the additional buyer’s stamp duty (ABSD) should be tweaked for Singaporeans who wish to buy more than one property, said Wing Tai Chairman Cheng Wai Keung in media...
Continue Reading • 21 Jul 2014
Eye on Tiong Bahru: Convenience in Proximity
A blend of old and new awaits at Tiong Bahru as Muneerah Bee discovered. Rich with architectural, cultural and historic significance, the mention of Tiong Bahru often evokes a sense of nostalgia. However, the area, particularly Tiong Bahru estate, has seen a rejuvenation in recent years with many...
Continue Reading • 21 Jul 2014
Suburban supply will push rents down
Given buyers’ cautious outlook, sellers have set more realistic price expectations as price declines become more pronounced in the secondary market. A new report by DTZ Research showed resale prices of luxury condominiums fell the most by three percent quarter-on-quarter in Q2 2014,...
Continue Reading • 21 Jul 2014
Eye on Redhill: Rosy outlook for Redhill
The city-fringe estate continues to be a top draw for property buyers. Muneerah Bee explores.Located at the fringe of the city centre, Redhill is a mature and well-maintained estate in District 3. It got its name from a local folklore involving the murder of a witty boy who lived on the hill,...
Continue Reading • 21 Jul 2014
Artist draws Singapore skyline from memory
Imagine drawing Singapore’s panoramic skyline in great detail strictly relying on your memory. That is exactly what British architectural artist Stephen Wiltshire is doing on a four by one metre blank canvas at The Paragon's main atrium, as part of Singapore Press Holding's 30th anniversary...
Continue Reading • 18 Jul 2014
Plans to make golf course public underway
The Singapore Island Country Club (SICC) is likely to meet relevant parties this month to discuss on giving up one of its golf courses.According to the media, SICC president Tay Joo Soon sent a three-page circular to SICC members yesterday, which stated, "We will be meeting Singapore Land...
Continue Reading • 18 Jul 2014
Court dismisses developer's claim for damages
Condominium developer Macly Assets lost a bid for $760,000 in damages from a couple whom it said had built lofts in their penthouse apartment in Thomson V Two without their consent.Notably, the property developer blamed the couple for the delay in obtaining its certificate of statutory completion...
Continue Reading • 18 Jul 2014